Dena Bank PO (PGDBF) Job Profile, Career Growth, Salary and Emoluments

By Astha Shukla|Updated : April 18th, 2018

Today we are going to discuss the Dena Bank PO Job Profile, career growth as well as salary and emoluments. Dena Bank PO notification for PGDBF course was released last year and the exam was postponed due to certain reasons.The new exam date i.e 2nd June 2018, was announced recently. The information of Dena Bank PGDBF PO Job Profile, Career Growth, Salary and Emoluments will help you all identify the nature of work that you will come across after joining and the perks that will be offered by the bank. 


Dena Bank released the notification for Postgraduate Diploma in Banking and Finance (PGDBF) in association with one of the leading Private Universities, Amity University (Noida Campus) for the Post of Probationary Officer JMGS-I and this time, Dena Bank is recruiting for 300 posts which include 62 (SC), 10 (ST), 22 (OBC) and 206 (Others) posts. In this post, we will discuss the Job Profile of a Probationary Officer (PO) who is selected through Dena Bank PGDBF PO Program, what all a PO is expected to do and the promotion and career aspects. A detailed Pros and Cons are also listed below for Dena Bank PO PGDBF Program. We will also touch upon the comparison between a IBPS/SBI PO and a PO who joined through this program.

Dena Bank PO - About the Program

  • This is the first time Dena Bank is recruiting POs through a PGDBF Program. Just like other banking exams, it is a gateway to your finance career. However, you will be trained for 1 year to get all the nitty-gritty of the banking in Amity University.  
  • This is a 12 (Twelve) months Post Graduate Certificate in Banking and Finance course in Amity University including 9 months on-campus program and three months on-the-job training program in Dena Bank Branch.

Dena Bank PO - Selection Process

  • There will an online test of 200 marks for 2 hours covering Reasoning, Quantitative Aptitude, General Awareness and English. This will be followed by 50 marks descriptive test which will also be in an online mode where two questions will be asked. The online test will have sectional and overall cutoff and the descriptive test will be evaluated only if a student clears the separate cutoffs.
  • 1200 candidates (4 times the vacancy) will be called for Group Discussions and Personal Interviews which carry 100 marks in total (20+80). The qualifying marks in Group Discussion & Interview will be as decided by the Bank.
  • The final merit list for selection will be on the basis of performance in Online Test (objective + descriptive), Group Discussion (GD) and Interview.

Dena Bank PO - Life after this course

  • After the classroom program and internship is over, students will be awarded Post Graduate Certificate in Banking and Finance and they would be appointed as PO in JMGS-I in Dena Bank.
  • The finally selected candidates can be posted anywhere in India as per Banks discretion. Generally, girls get a posting near their hometown.  

Dena Bank PO - Bond Period

  • At the time of joining, the candidates will be asked to execute a Service Bond for serving a minimum of 4 years in the Bank w.e.f the date of joining this program.
  • The candidates will have to work for Dena Bank on recruitment as Probationary Officer for a period of at least 3 years on completion of the program.
  • In case you leave the bank before completing 4 years, you will be liable to pay back to the Bank Rs. 2 lakh plus the full amount of stipend received by him / her during the program.
  • In case you have taken the education loan, you will also need to clear the entire Educational Loan outstanding at that point in time at the prevailing card rate.

Dena Bank PO - Career Growth

  • The PO is recruited in entry-level officer grade, Junior Management Grade Scale I which is generally known as Assistant Manager. The promotions are generally fast in all PSU banks and normally a newly recruited PO gets promoted after 4 years to Scale II and then after 3-4 years to Scale-III.
  • After this, the promotions are slow and one gets a chance to promote after 4-5 years to Scale-IV which is Executive Cadre. Ext promotion is to Scale-V which is AGM and generally takes 6-7 years.

Pros of Dena Bank PGDBF PO Program -

  • Considering the fact that the normal banking exams like SBI PO, IBPS PO are comparatively tough and if you are not able to get through SBI PO, IBPS PO etc. you should definitely write this exam.
  • After the certification course of 1 year, you will get an in-depth knowledge of all the Banking World. Since this is a niche program, you will be familiar with the Dena Bank products and services from day 1 of your job which is not the case with the IBPS recruits. You will be much ahead in terms of knowledge with your peers and will also get an additional certification.
  • The fee is not that much considering you have an easy finance option at the subsidised rate, the EMI of which will start after 1 year. Also, the bank will, on successful completion of 60 months of service, pay back the loan amount of Rs.3.00 lacs to you. Moreover, the loan component will help you in savings under section 80 C as the interest paid for Education Loan is treated as deductions.
  • If you are an average student and have already written the banking exams many times but are not able to get through, you should not waste your age and time. The competition for this exam is less as compared to SBI or IBPS PO.
  • The campus is located in Noida and you will enjoy NCR region for sure.

Cons of joining Dena Bank PGDBF PO Program -

  • You will start getting the salary of a probationary officer only after one year. For one year, you will get very little amount as a stipend.
  • The bond amount and period is huge.
  • The promotions in almost every PSU bank are fast. So if age is on your side, you can avoid this as by the time you will complete your 1-year course and probation period, the IBPS recruits may have already become Scale-II Officers.

Dena Bank PO - Course Fee and the Education Loan

  • The all-inclusive (Boarding, Lodging and course fees etc) cost for this program is Rs. 3.00 lakhs plus service taxes as applicable (the fee for BoB Bank for a similar course in 3.45 lakhs).
  • The fees will be payable in three equal instalments at the start of every trimester.
  • The best part is that the Dena provides an optional Education Loan at a concessional rate of interest. Students can, therefore, obtain a high-quality specialised course in Banking and Finance without any monetary burden on them and fully financed by the Bank.
  • The EMIs for the loan would start on completion of the course duration (i.e. one year from admission).
  • There would be no recovery of EMIs or interest during the training period and the interest accrued during this period would be recovered along with the normal EMIs.
  • The EMIs are spread over a period of 84 months (7 years) to ensure that there is minimal impact on the monthly earnings of the PO.
  • However, if the student leaves the course in between or before the bond period the Bank will charge the card rates as applicable, right from the day 1 of your Education Loan itself.

Stipend, Incentives and Reimbursements during 1st Year -

  • For the first 9 months of your stay at Noida campus, you will get a monthly stipend of Rs. 2500/- every month for the entire duration of the program in order to meet theirs out of pocket expenses and living expenses.
  • After 3 months, the students are required to do a three months internship at any branch of Dena Bank. During these 3 months, the students will get Rs.10,000/- monthly.
  • As per the notification, the reimbursement of the fees will be made to the candidates after 5 years’ satisfactory service in the Bank.

Dena Bank PO Salary, Perks and Emoluments after 1st Year

  • The POs are absorbed in the scale of pay Rs. 23700-980x7/30560-1145x2/32850-1310x7/42020. Also, if you have opted for Education Loan, your EMI will also start deducting after 1 year at Noida.
  • 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. 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.
  • The gross salary of Dena Bank PO is around Rs. 43000/- and the net salary is Rs. 37000/-. There will be an upward increase of around 6-7 percent because of DA. Also, the settlement is due in 2017 and you can expect an increase in salary.

Please comment below if you have any doubt, we will be happy to help.

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