SBI CBO Salary 2023, Know in-hand salary, payscale, allowances and more

Safalta Expert Published by: Himani Mehra Updated Sun, 08 Jan 2023 11:23 PM IST

Highlights

Get details on SBI CBO Salary 2023 at Safalta.com. Know in-hand salary, along with other additional allowances, benefits, job profile and career growth.

SBI CBO Salary: The salary offered to Circle Based Officer in State Bank of India is a very handsome amount. Candidates aspiring to appear for this exam must know SBI CBO salary and other benefits of the post. The basic pay offered to SBI CBO is Rs.36,000 and payscale 36000-1490/7-46430-1740/2- 49910-1990/7-63840. There are also many benefits and allowances that CBO in SBI receive. Read this article to check SBI CBO salary and related details. If you are preparing for competitive exams and are looking for expert guidance, you can check out our  SBI CBO Bankers Online Batch 2022.

 

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Table of Content

SBI CBO Salary 

Candidates who are recruited as SBI CBO will be placed under Junior Management Grade Scale 1.

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The initial basic pay of the SBI Circle Based Officer has been incremented to Rs. 36,000/- on the scale of 36000-1490/7-46430-1740/2- 49910-1990/7-63840 applicable to Junior Management Grade Scale-I. SBI CBO Salary sees an increment of 1 grade for every one year of service.

 

SBI Circle Based Officer Salary 2023
Allowance Amount
Pay Scale 36000-1490/7-46430-1740/2- 49910-1990/7-63840
Basic Pay Rs. 36,000
Dearness Allowance (DA) Rs. 16,884
House Rent Allowance (HRA) Rs. 2520
City Compensatory Allowances (CCA) Rs. 1080
Gross Salary  Rs. 58,484
Deduction  Rs. 8187.6
Net Salary  Rs. 50,296.24
The net salary of SBI CBO officers amounts to Rs 50,296.24.

Do you know  What Is The In Hand Salary Of SBI PO?

SBI CBO In-hand Salary 2023

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. 36,000. The annual SBI CBO Salary lies within the range of Rs. 8.20 Lakhs (minimum) to Rs. 13.08 lakhs (maximum) per annum.

Check out IBPS RRB PO Salary

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SBI CBO Salary: 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:
Allowance Amount
Dearness Allowance 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
Medical Insurance 100% covered for employee | 75% covered for dependent family
Travelling Allowance AC 2-tier fare is reimbursed to the employee for official travels
Petrol Allowance INR 1,100 – 1,250
Newspaper Allowance,
Entertainment Allowance,
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)
  Get to know Bank Po Salary here with Safalta

SBI CBO Career Growth and Promotion

On recruitment, candidates are appointed to the post of Circle Based Officer. They have to serve a specific duration of probation period during which they are assessed. They will get a 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.
 


 

Read More

To know more read here.
 SBI 2021 CBO Recruitment   IBPS PO Syllabu  SBI PO Eligibility Criteria  SBI PO Exam 

What is the initial basic pay of SBI CBO?

The initial basic pay of SBI CBO is Rs. 36,000.

What is the maximum basic pay that SBI CBO can receive?

 SBI CBO can receive a maximum basic pay of Rs. 63840.

Is there any probation period for SBI CBO?

Yes there is a probation period for SBI CBO.

Does SBI CBO salary vary as per the location?

Yes, SBI CBO salary varies as per the location because of differences in HRA.

What is the total monthly salary of SBI CBO?

 The total monthly salary of SBI CBO is approximately Rs. 50,296.24.

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