Salary structure of bank PO in Bank of Maharashtra

I want to apply for the post of Probationary Officer in Bank of Maharashtra and now I want to get the salary structure of PO in Bank of Maharashtra so can you provide me that?

[Kiran Chandar]

As you want to get the salary structure of PO in Bank of Maharashtra so here is the information of the same for you:

Salary Structure of Bank PO at the Time of Joining (per month):

SALARY A- CLASS CITIES METROPOLITAN CITIES AREA I CITIES (STATE CAPITALS) DISTRICT LEVEL AND RURAL AREAS
Basic Salary INR 14,500 INR 14,500 INR 14,500
CCA or City Compensatory Allowance (4% max INR 540=) INR 540 INR 375 nil
DA or Dearness Allowance (54%) INR 7,830 INR 7,830 INR 7,830
HRA or House Rent Allowance (for A class cities – 8.5%, for Area I places – 7..5%, and for other regions – 6.5%) INR 1,232.50 INR 1,087.50 INR 942.50
Total Salary INR 24,102.50 INR 23,792.50 INR 23,272.50

Perquisites and Facilities for Bank PO at the Time of Joining (per month)
SALARY A – CLASS CITIES METROPOLITAN CITIES AREA I CITIES (STATE CAPITALS) CATEGORY B PLACES CATEGORY C PLACES
Leased House Rent INR 7,200 INR 5,300 INR 13,800 INR 2,800
News Paper INR 250 INR 250 INR 250 INR 250
Traveling Allowance INR 3,000 INR 3,000 INR 2,700 INR 2,300
Cleaning Materials INR 600 INR 600 INR 600 INR 600
Medical Aid INR 450 INR 450 INR 450 INR 450
Business Development Expenses INR 300 INR 300 INR 300 INR 300
Total Salary INR 11,800 INR 9,900 INR 9,400 INR 6,700

Salary Structure of Bank Probationary Officer as per Designation (per month):
DESIGNATION SALARY RANGE
JMGS – I (Junior Management Grade Scale -I) INR 14,500-600/7-18,700-700/2-20,100-800/7-25,700 + HRA, DA, CCA, LTC, Medical benefits, terminal benefits as per rules
MMGS – II (Middle Management Grade Scale – II) INR 19,400 to INR 34,200
MMGS – III (Middle Management Grade Scale – III) INR 25,700 to INR 35,100
SMGS – IV (Senior Management Grade Scale – IV) INR 30,600 to INR 36,200
SMGS – V (Senior Management Grade Scale – V) INR 36,200 to INR 40,400

Median Pay Scale of PO as Per Cities in India:
NAME OF THE CITY AVERAGE SALARY
Mumbai INR 5.8 lakh
Bangalore INR 5.8 lakh
New Delhi INR 4.5 lakh
Hyderabad INR 4 lakh
Kolkata INR 2.7 lakh

Median Pay Scale of PO as Per States in India:
NAME OF THE STATE AVERAGE SALARY
Maharashtra INR 5 lakh
Karnataka INR 5.8 lakh
Delhi INR 4.6 lakh
Andhra Pradesh INR 3.5 lakh
West Bengal INR 3 lakh

Bank of Maharashtra PO Entrance Exam Reference Books:

IBPS - Common Recruitment Process Specialist Officers IT Officer Scale 1 & 2 (With CD) : 10 Practice Sets Includes Solved Paper 2014 (English) 2nd Edition (Paperback)

IBPS - CWE (4) Specialist Officers Cadre HR Officer (Human Resource / Personnel Officer) Scale 1 Online Exam 2015 : With 3 Self Enhancement Tests (English) 2nd Edition (Paperback)

Computer Awareness (English) 7th Edition (Paperback)

101 Speed Tests for IBPS & SBI Bank PO Exam 3rd Edition (English) 3 Edition (Paperback)

Guide to Banking General Awareness & Banking Aptitude Test (English) 6th Edition (Paperback)

Previous Papers IBPS: Common Written Exams for Bank PO/MT with Detailed Solutions (English) (Paperback)

IBPS Bank PO Common Written Exam. Success Master PB (English) 5th Edition (Paperback)

Bank PO Quantitative Aptitude Chapterwise Solved Papers 1999 - Till Date (3940+ Objective Questions Of Nationalised Banks,Gramin Bank,IBPS PO/MT/SO,RRBs Officer,SBI,RBI Grade B & Insurance AAO , AO) (Paperback)

Comprehensive Guide to IBPS - CWE Bank PO (English) 3rd Edition (Paperback)

Bank PO English Language Chapterwise Solved Papers 1999 - Till Date (4565+ Objective Questions Of Nationalised Banks,Gramin Bank,IBPS PO/MT/SO,RRBs Officer,SBI,RBI Grade B & Insurance AAO , AO) (Paperback)

Objective - General Knowledge : Chapterwise Collection of 6250+ Q (English) Revised Edition 2015 Edition (Paperback)

Target IBPS Bank Preliminary & Main PO/ MT Exam 20 Sets Practice Workbook with SYNC-ABLE CD (English 4th edition) (English) (Paperback)

IDBI/SIDBI Asst. Manager/Executive Guide (English) (Paperback)

Previous Papers IBPS (Common Written Exam) for Bank Clerk Exam With Detailed Solution

Banking Awareness for Bank Clerk / PO / SO / RRB / RBI Exams (English) 1st Edition (Paperback)

15 Practice Sets for IBPS PO Preliminary Exam (English) 1st Edition (Paperback)

Bank PO (IBPS PO / MT / SO, RBI Grade - B, SBI PO, SBI Management Executive) 2011, 2012, 2013 & 2014 Solved Papers (Paperback)

Solved Papers Bank PO Exam (English) 6th Edition (Paperback)

Banking And Financial Awareness (Covering General Banking & Socio-Economic Awareness) IBPS Bank PO/SO/MT,IBPS Clerk,RRBs Office Assistant & Officer Rbi,SBI PO & Clerk (Paperback)

Hello sir I want to know about the Salary structure of bank PO in Bank of Maharashtra so please provide me information about the same.

[Raman Vij]

Bank PO's salary or Bank Probationary officer's starting salary in most of public sector banks and even in some private banks is same.

So here I am providing you general salary of PO post for all banks so that you can get idea about Bank of Maharashtra also.

Salary structure of PO Post

Basic Pay of a Bank Probationary officer / PO will be Rs.23,700/-

Other allowances

(a) Dearness Allowance (DA)-

DA in banks is revised on quarterly basis based on the CPI as declared by Government of India.

(b) Special Allowance: This has been added in 10th BPS and for scale I is 7.75% on which DA is also payable

(c) HRA: This depends on the place of posting and it can be either 9.0% or 8.0% or 7.0% depending on the place of posting.

(d) CCA: This also depends on the place of posting and can be either 4% (maximum Rs.870/-) or 3% (Maximum Rs.600/-) or 0%

Other benefits

(a) Leased Accommodation: The lease amount varies from bank to bank and place of postings.

(b) Travelling Allowance: Some banks allow fixed Travelling Allowance whereas others allow reimbursement of petrol bills i.e. officer must own scooter / car at the place of posting

(c) Newspaper Reimbursement: A fixed monthly amount is paid towards the cost of one newspaper

(d) Medical Aid: A fixed annual amount is paid by most of the banks (Revised amount is Rs8000/- p.a.)

(e) Coverage under New Pension Scheme

Hii Buddy , I want to know Bank of Maharashtra Bank Probationary Officer Salary Details , Can you please Provide me Details for Same ?

[Kiran Chandar]

As Here you are Looking for Salary Structure of PO in Bank of Maharashtra Here providing information of the Same for you:

Scale I -
23700 -
(980 x 7 ) -
30560 -
(1145 x 2 ) -
32850 -
(1310 x 7) -
42020

Special Allowance/Pay:

For Officer Scale I,II,II: @ 7.75 % + DA @ 33.70%
For Officer Scale IV & V: @ 10 % + DA @ 33.70%
For Officer Scale VI & VII: 11 % + DA @ 33.70%

City Compensatory Allowance (CCA For Metro Cities) :

Lower CCA – 3% Maximum of Rs.600/-

Higher CCA – 4% Maximum of Rs.870/

HRA Category :
Area A: 9%
Area B: 8%
Area C: 7%

Hello Sir, I wanted to check what is the salary package of Bank of Maharashtra PO (GMJS)I as in the advertisement of 01.08.2016, was mentioned its 8.50 Lakh. After completing one year course for which we need to pay 3.14 - 3.50 Lakh.

Please clarify, should we go ahead.

regards,
Meena

here I have come to know Salary structure of Bank PO in Bank of Maharashtra , so will you plz let me know about the same as I am thinking to apply for its recruitment this year ??

[sumit]

Bank of Maharashtra is a major public sector bank in India. Government of India holds 87.74% of the total shares.

As you are asking for Salary structure of Bank PO in Bank of Maharashtra so on your demand I am giving bellow require info :

Salary structure of Bank PO in Bank of Maharashtra
Basic Pay 23700.00
Special Allowance 1836.75
DA 10163.63
CCA 870
Transport Allowance
Total (without HRA) 36570.38
HRA 2133.00
Gross with HRA 38703.38
Medical Aid 8000
Entertainment 500
Newspaper 300
Petrol 3000
Telephone 400
Canteen Subsidy 400
Pension Contribution 2500
Gross Annual CTC (with HRA but without leased accommodation) 5,57,640.52

Allowances
Dearness Allowance (DA) Revised quarterly based on the CPI, the DA forms around 40 percent of the Basic Pay. It is to be noted that since DA depends upon CPI, it can increase or decrease based on the inflation rates.
House Rent Allowance (HRA) This depends upon the location of posting of the Probationary Officers. Based on whether they are posted in metropolitan cities, big cities or other locations, the HRA can be 9 percent, 8 percent or 7 percent of the Basic Pay.
Special Allowance The Special Allowance is 7.75 percent of the Basic Pay.
City Compensatory Allowance (CCA) The CCA too, like the HRA, depends upon the location of posting. It can be 4 percent, 3 percent or 0 percent based on the job location.