Canara Bank recruits the candidates to the post of Probationary Officers (PO) in Junior Management Grade Scale-1. Aspiring students need to do a PG (Post-Graduate) Diploma in Banking and finance program either through NITTE Education International Pvt Ltd or Manipal Global Education Service Pvt Ltd. One of the best chances that you are planning for Canara Bank Probationary Officers, you should have known everything regarding the Salary Structure and Allowance and Benefits.

In this article, we will provide Canara Bank PO Salary Structure, Pay Scale, Allowances and Benefits 2022.

CANARA BANK PO SALARY

ScaleSalary & Emoluments
JMGScale-I`23700 –980/7 –30560 –1145/2 –32850 –1310/7 -42020

DA, HRA, CCA, Medical Aid, Leave Fare Concession etc. and Perquisites like Conveyance, Furniture etc., shall be paid as per rules depending on the place of posting.

CANARA BANK PO (PROBATIONARY OFFICERS) SALARY STRUCTURE 2022

Pay ScaleState-levelDistrict levelMetro Cities
Basic SalaryINR. 23700INR. 23700INR. 23700
Dearness Allowance (DDA)INR. 12206.69INR. 12206.69INR. 12206.69
House Rent Allowance (HRA)INR. 1896INR. 1659INR. 2133
Special AllowanceINR. 1836.75INR. 1836.75INR. 1836.75
City Compensatory Allowance (CCA)INR. 600NilINR. 870
Total SalaryINR. 40,239.54INR. 39,402.54INR. 40,746.54

LOYALTY BONUS

Bank will reimburse the course fees to the successful candidates by way of Loyalty Bonus, in a deferred payment in equal annual installments, starting from the end of the 5th year up to the end of the 10th year of joining the bank subject to continuation of service in the Bank. If a candidate has availed education loan towards payment of Course Fees, payment of loyalty bonus as above is subject to repayment of the educational loan being regular.

Incentives to students: Canara bank PO salary

  • On completion of various certification courses by the candidate, Bank usually gives reimbursement of fees and incentives after joining.
  • Stipend of Rs 10,000 per month during the internship period of 3-months.
  • Reimbursement towards expenses incurred for the purchase of uniforms of Rs 4,000 per candidate or actual, whichever is less.

Canara Bank PO: Pay Scale

As per the Canara Bank PO Notification 2022, the pay scale for Canara Bank Probationary Officers is as under:

23700-980 (seven years) 30560-1145 (two years) 32850-1310(seven years) 42020

This means the initial Basic Pay is INR 23700 with a yearly increment of INR 980 for the next 7-years, after which the Basic Pay scale will be INR 30,560 etc.

CANARA BANK PO SALARY ALLOWANCES AND BENEFITS 2022

  • Dearness Allowances (DA) – is the salary of living regulations allowances as long as the government pays to the employee of the public sector as long as the pensioners of the same.
  • House Rent Allowances (HRA) – This is a requital which is given to the employee as a stay comfort.
  • Medical Aid – Medical Aid will also be given as per the rules of Canara Bank for PO Post.
  • Leave Fare Concession – PO or Probationary Officers can avail this advantage for themselves and for their family, which based on the eligibility criteria solely decided by the Bank.
  • City Compensatory Allowance (CCA) – CCA is a taxable component of cost which is given to compensate them for working in the big metro city so that it supports them to live in the good. It is the confirmed salary rather than intended on the basic Pay Scale. City Compensatory Allowance for Bank PO normally 0%, 3%, and 4% based on the places.
  • Special Allowance – Special allowance is giving the Canara Bank PO only Grade first officers are published from these benefits. These are the performance-based bonuses given to Canara bank employees depending upon their performance and per day.
  • Perquisites – the benefit of profit provided to the employee in extra to their regular salary. It includes newspaper allowance and medical allowances and travel allowances conveyance, house and furniture allowance and house maintenance and laundry.

ADDITIONAL BENEFITS

The Canara Bank job sector is ideal for most aspiring candidates who are looking for a job for the additional benefits that come along with it. The candidate can profit off these benefits after crossing their probation period in the Canara Bank PO post. Except for your job safety, some additional benefits will be enjoyed by the employee. These are mentioned in this article below:

  • Loyalty bonus
  • Incentives
  • Newspapers
  • House rent
  • Child Safety
  • Medical benefits
  • Travel concession and leave
  • Job training
  • Health Insurance
  • Increments Benefits
  • House Maintains
  • Furniture.

CANARA BANK PO JOB PROFILE 2022

  • Customer handling- Aspirants need to handle customers on a daily basis. They must give the best idea to all the questions of the customer at the earliest.
  • Loans – They are responsible for the procedure of loans for customers, checking their data and verifying them are some of the activities.
  • Payment Clearance – Aspirants are responsible for outward and inward payments.
  • Reporting – Making and maintaining regularity, a weekly or monthly report is another duty of Canara Bank PO.

Canara Bank is the best place to boost your career opportunity and grow at both a professional and personal level. Therefore, make the best use of the remaining time and complete the Canara Bank PO syllabus thoroughly.

Following are the factors that determine your promotion to higher grades.

  • Seniority level
  • Availability of vacancies in the department
  • Maintaining good Service Record

FAQS

Q: What is the In-Hand Salary of Canara Bank PO 2022?

A: The In-Hand Salary for Canara Bank PO is INR 36,000 to 38,000.

Q: What are the allowances provided for the Canara Bank PO 2022?

A: The Canara Bank PO 2022 post comes with specific customer’s questions about allowances like house rent allowances, medical allowances, dearness allowances, etc.

Q: What is the full form of Canara Bank PO 2022?

A: The full form of Canara Bank PO 2022 is Probationary Officers.

CONCLUSION

The Canara Bank PO is an exceptional opportunity for all those candidates who look forward to their career in the administrative department and in the government sector. This job provides the scope for career development in Canara Bank!

By khushi

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