Bank of Baroda BOB Manipal PO Salary, Perks and Emoluments

By Astha Shukla|Updated : April 13th, 2017

BOB Manipal PO Notification is out. Many aspirants need to know about the Salary, Perks, and Emoluments of Bank of Baroda Manipal PO. Salary, Perks, and Emoluments of Bank of Baroda Manipal PO will give you a brief idea of why you should go for this program and what can you expect as a BOB Manipal PO. Apart from the Salary, Perks, and Emoluments of BOB Manipal PO, we will also discuss the course fees and education loan for this exam.

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]Before starting its exam preparation, read the BOB Manipal syllabus and exam pattern.

BOB Manipal PO - Salary, Perks and Emoluments after 1^st Year

The gross salary of BOB Manipal PO is around Rs. 43000/- and the net salary is Rs. 37000/-. The POs are absorbed in the scale of pay Rs. 23700-980x7/30560-1145x2/32850-1310x7/42020. That is, a newly recruited PO will have a basic pay of Rs. 23700/- and after one year, he/she will get an increment of Rs 980. Likewise, he/she will get 7 such increments and when the Basic Pay reaches Rs. 30560, he will be eligible to get an increment of Rs 1145 for further 2 years till his salary reaches Rs. 32850. Then he/she will be eligible to get an increment of Rs. 1310 for a further period of 7 years till his/her salary reached Rs. 42020/-.

Also, if you have opted for Education Loan, your EMI will also start deducting after 1 year at BMSB.

POs are eligible for many allowances. These include Dearness Allowance, House Rent Allowance, City Compensatory Allowance, Transport Allowance etc., which are revised from time to time during settlements and are also eligible for reimbursements like Newspapers, Cleaning, Furniture (as per eligibility), Group Personal Accident Insurance and LTC etc.

At present, the DA is 46.90% and DA changes on a quarterly basis. You can see the DA variation on IBA website by clicking here.

Some locations include the quarter facilities for the newly recruited POs but it is purely subject to availability.

POs are eligible to get reimbursements of medical charges as per eligibility and get some of the dispensary facilities.

POs get loans and advances at a much cheaper rate for Housing, Vehicle, Computers etc. and POs are covered by the NPS scheme by NSDL and have the benefit of gratuity. At present, the initial annual CTC is approximately Rs. 8 lacs (including perquisites) in a Metropolitan Centre.

BOB Manipal PO - Course Fee and the Education Loan

The all-inclusive (Boarding, Lodging and course fees etc.) The cost for this program is Rs. 3.45 lakhs plus service taxes as applicable. The best part is that the BoB provides an optional Education Loan at a concessional rate of interest of 8% interest. Thus, you can finance your course and then payback in the EMIs when you start earning after one year. Moreover, 8% is a very concessional rate and the BoB is investing heavily in its future managers. However, if the student leaves the course in between or before 3 years of the bond period (which we have discussed in detail in other posts), the Bank will charge the card rates as applicable, right from the day 1 of your Education Loan itself. The fees mentioned above doesn’t include the exam fees for certifications for NISM etc. which is Rs. 2500/- at present.

BOB Manipal PO - Work Pressure and Office timings

Just like other bankers, the PO is expected to do similar kind of work. He may be given the charge of CASA (Current Account Savings Account), Deposits or Credit (Loans and Advances). Some POs might be placed in the Regional Offices where there primarily work is to consolidate and compile data and reporting. It is better to get the experience of every department at an early stage of your career, so the more exposure you get, the better it is. Work pressure is an elusive term and it depends on person to person. Please remember that no job is perfect, it is how you take it. You need to enjoy your job in order to excel. Cursing the job and the things which you can't change won’t help you.

The working hours are not defined for officers (sadly) and even the unions are spineless in this regard.

There are no Earned Leaves during probation period i.e. for 1. For the first year, you are entitled to only Casual Leaves which will be credited to leave balance after every 1 month. After completion of probation, Earned Leave is credited one day after every 11 days. Also, Sick Leaves are 30 days per year, whenever you want.

This is one the biggest opportunity to join one of the best Nationalized Bank in India. Please comment if you have any doubts, we will be happy to answer.

You can apply for BOB Manipal PO Exam 2017 from the link below -