Syndicate Bank PO Salary Structure, Allowances, Courses Offered, Career Growth
Before applying to Syndicate Bank recruitment exam, one must know the Syndicate Bank salary structure after 7th CPC. The ‘Syndicate Bank PO’ exam is a common exam to recruit Probationary Officers in various branches of Syndicate Bank across the nation. It is conducted in two-stages – Online Test and Interview and/or Group Discussion. Candidates must apply for Syndicate Bank PO Recruitment 2018 who are seeking for Career in Banking Sector in India.
So here in this blog, we will discuss Syndicate Bank salary structure, exam pattern, courses offered by the bank for banking aspirants, allowances, increment, career growth, and some other basic details.
Syndicate Bank History
Syndicate Bank is one of the oldest and major commercial banks of India. Earlier it was known as Canara Industrial and Banking Syndicate Limited. It was nationalized on 19 July 1969, by the Government of India. The Bank is headquartered in the university town of Manipal, India.
The bank is operational not only in India but also overseas. Syndicate Bank has branches in multiple states and union territories in India.
Syndicate Bank Course Offered
- Syndicate Bank provides 1-year Post Graduate Diploma in Banking and Finance Sector.
- After successfully completing the course, candidates will be offered appointment in the bank as Probationary Officer in Junior Management Grade I.
- The study program is of 9 months duration followed by 3 months of internship which a candidate has to complete from any branch of Syndicate Bank to get more knowledge about banking and finance sector.
- During nine months classroom training the students shall be paid a sum of Rs 3000/- pm as stipend and during the next three months of internship a stipend of Rs 15000/- pm shall be paid.
- Loyalty Bonus: If a candidate availed an education loan, the loyalty bonus of ₹. 500000/- shall be paid to the Officers at the rate of ₹ 100000/- for every completed year of service after 5 years of continuous and satisfactory service in the Bank from the date of joining the service.
Syndicate Bank Exam Pattern
|Type||Sections||No. of Questions||Max. Marks||Time|
|Descriptive||English Language||2||50||30 mins|
Syndicate Bank PO Eligibility Criteria
- Age Limit
Minimum Age: 20 years Maximum Age: 28 Years
- Age Relaxation
- SC/ST: 5 Years
- OBC: 3 Years
- PWD: 10 Years
- Educational Qualification: Candidate should have a Degree (Graduation) with minimum of 60% (55% for SC/ST/PWD) marks in any discipline from a recognized University OR any equivalent qualification recognized as such by Central Government.
Syndicate Bank PO Salary structure, Allowance, and Benefits
Candidates will get the details about Syndicate Bank salary structure at the time of their joining which is also discussed below.
- Basic Salary: Basic pay is the amount of salary paid to the bank employees excluding any extra payments which include allowances and bonuses. Basic salary is ₹ 23700.
- City compensatory allowance (CCA) is a type of allowance offered to compensate for the high cost of living in metropolises and large cities. It is not calculated on basic pay and is fixed. Under syndicate bank salary structure, it is ₹800 for metro cities and ₹600 for state/capitals.
- Dearness Allowance (DA) is a cost of living adjustment allowance paid to government employees and pensioners and is counted as a fixed percentage of the person’s basic salary. Under Syndicate bank salary structure, it is ₹ 12206.69.
- House Rent Allowance or HRA is a component of the salary provided by the employer to his/her employee. HRA varies depending on the places the employer has been posted. Under Syndicate bank salary structure- for Metro cities it is ₹2133, for state/capitals it is 1896, and for district level/rural places it is 1659.
- Special Allowances are the performance-based bonus or incentives given to employees depending upon their quality performance and are given to only Scale-1 officers. Under Syndicate bank salary structure, it is ₹1836.75.
- Additional perks for Syndicate Bank PO is defined as a benefit of which one is entitled to or enjoys on account of his/her job or position. Under this newspaper allowances, laundry allowances, traveling allowances, conveyance, medical coverage, house, furniture allowance as well as benefits under New Pension Scheme are covered.
So, as per the syndicate bank salary structure, the expected in-hand salary would become up between 36,000-38,000.
Promotion Hierarchy in Syndicate Bank: Here is the hierarchy list provided for the path of Scale I to Scale 7. Based on one’s performance they will get a chance to be promoted on a senior level post and get other plenty of opportunities within a year.
The flow chart shown below represents the hierarchy of promotions in Syndicate Bank:
Syndicate Bank PO Career Growth And Progression
The scale I: Officer i.e. PO
Scale II: Manager
Scale III: Senior Manager
Scale IV: Chief Manager
Assistant General Manager
Deputy General Manager
Executive Director (ED)
Chairman and Managing Director (CMD)
Here we have provided Syndicate Bank Salary structure for PO 2018- 19 in detail. We also discussed exam pattern, eligibility criteria, and the courses offered by the bank related to banking and finance. Through this article, we got the complete idea about the exam and how fruitful career banking aspirant can make in Syndicate Bank.