SBI CBO Salary is decided by State Bank of India. Circle Based Officers in SBI are paid a handsome amount of salary with the basic pay amounting to Rs. 23,700 initially. Other than a good amount of salary, a CBO is also eligible to receive various allowances and benefits which make this post very lucrative. Candidates who are aspiring to appear for SBI CBO Exam should ensure that they know all the details regarding the exam such as eligibility criteria, exam pattern, syllabus and so on. Candidates should also know about salary and job profile to understand the nature of the profession better. Read this article to know all about SBI CBO salary and other details. If you are preparing for competitive exams and are looking for expert guidance, you can check out our monthly FREE Current Affairs E-book- Download Now
SBI CBO Salary 2021
Candidates who are recruited as SBI CBO will be placed under Junior Management Grade Scale 1or JMGS-I. The payscale for SBI CBO is Rs. 23700-980/7-30560-1145/2-32850-1310/7-42020 which means that the basic pay is Rs. 23,700 initially with an increment of Rs. 980 for the first seven years. After that the basic pay of Rs. 30,560 with an annual increment of Rs. 1145 for the following two years and so on. The salary structure is as follows:
||Number of years
||First 7 years
||Next 2 years
||Next 7 years
Thus the maximum basic pay that SBI CBO can receive is Rs. 42,020.
SBI CBO In-hand Salary 2021
SBI CBO in-hand salary includes basic pay along with all the allowances. Candidates are also given an increment in each year of service. The starting basic pay is Rs. 23,700. The annual salary received by SBI CBO lies within the range of Rs. 8.20 Lakhs (minimum) to Rs. 13.08 lakhs (maximum) per annum. Subscribe to our free courses
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SBI CBO Allowances and Benefits
There are various allowances and benefits that SBI CBO enjoys along with a handsome amount of salary. The details of SBI CBO allowances are as follows:
||46.9% of the Basic Pay
|City Compensatory Allowance
||3% – 4% depending on location
|House Rent Allowance
||7% – 9% depending on the Place of Posting
||100% covered for employee | 75% covered for dependent family
||AC 2-tier fare is reimbursed to the employee for official travels
||INR 1,100 – 1,250
Books Allowance, etc.
|Varies based on Cadre
Along with these allowances there are various benefits such as :
- Pension Scheme
- Leave Fare Concession
- Concessional Interest Rates for Housing/Car/Personal Loans
- LTC (Leave Travel Concession)
SBI CBO Career Growth and Promotion
On recruitment candidates are designated the post of Circle Based Officer. They have to servce a specific duration of probation period during which they are assessed. They will get permanent job under Junior Management Grade Scale-I (JMGS-I). Candidates will be in the general cadre and promotions will take place as per the promotion policy of the bank for general cadre officers. The selected candidates will not be entitled to inner-circle transfer up to his/ her promotion to SMGS-IV Grade OR 12 years of service, whichever is later.
SBI CBO Salary FAQs
Q. What is the initial basic pay of SBI CBO?
A. The initial basic pay of SBI CBO is Rs. 23700.
Q. What is the maximum basic pay that SBI CBO can receive?
A. SBI CBO can receive a maximum basic pay of Rs. 42020.
Q. Is there any probation period for SBI CBO?
A. Yes there is a probation period for SBI CBO.
Q. Does SBI CBO salary vary as per the location?
A. Yes, SBI CBO salary varies as per the location because of differences in HRA.
Q. What is the total monthly salary of SBI CBO?
A. The total monthly salary of SBI CBO is approximately Rs. 38,000.