SBI CBO Salary 2023
State Bank of India (SBI) on its official website on 21 November 2023 SBI Recruitment 2023 Notification released for recruitment of Circle based officer Have done. SBI has released a total of 5000+ vacancies this year to recruit eligible candidates for the post of Circle Based Officers, this is a golden opportunity for the candidates preparing for banking exams. Candidates willing to work as Circle Based Officer (CBO) in State Bank of India will be curious to know the SBI CBO Salary 2023. SBI offers an attractive salary to CBOs along with perks and facilities. Candidates can check all the details related to SBI CBO Salary 2023 like basic salary, allowances and other benefits from the article given below.
SBI CBO Salary 2023
We know that before applying for any recruitment, candidates are interested in getting information about the benefits available from it. The salary, allowances and other benefits of Circle Based Officer or CBO are the most important factors due to which a large number of candidates apply for it. Candidates can expect a good increase in SBI CBO Salary 2023 in regular time period. Candidates selected for SBI CBO Recruitment get a chance to work in India’s largest public sector bank, they will definitely be able to avail promotion and career growth opportunities. Through this article we will discuss the salary, perks and other benefits of SBI Circle Based Officer. So that you will know what you will get after switching.
What Is The Salary Of SBI Circle Based Officer?
As per the Circle Based Officers 2023 notification released by SBI, the salary of the candidates selected for Circle Based Officer will initially be Rs. 36000-1490/7-46430-1740/2- on the basic pay of Rs. 36,000/- for the post of Junior Management Grade Scale-1. Will start from 49910-1990/7-63840. SBI CBO in hand salary has now been revised to Rs 50,000-52,000 from Rs 33,000-35,000. However, irrespective of the period of experience gained in previous employment, the maximum advance increment has been capped at 2 (two). The officers will also be eligible for DA, HRA/Lease Rental, CCA, Medical and other allowances and benefits as per the rules in force from time to time.
SBI CBO Salary Structure 2023
As per the notification, the basic starting salary of SBI CBO is Rs 36,000 which is on the pay scale of 36000-1490/7-46430-1740/2- 49910-1990/7-63840 as mentioned above. Candidates can check the table given below to get a detailed overview of SBI CBO salary structure.
| 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 |
| Other Allowances | Rs. 2000 |
| Gross Salary | Rs. 58,484 |
| deduction | Rs. 8187.6 |
| Net Salary | Rs. 50,296.24 |
SBI CBO Salary 2023- In Hand Salary
Candidates once selected for the post of SBI CBO will get a salary between Rs 50,000 to Rs 52,000 including all allowances (except PF). SBI CBO Salary in hand 2023 will be calculated by adding basic salary, dearness allowance. HRA, City Compensation (if any as per posting). In-hand salary does not include PF and pension contributions.
SBI CBO Salary 2023: Perks and Allowances
SBI Circle-Based Officers benefit from an attractive salary as well as various allowances and facilities. We are providing you the complete list of allowances that will be received by the Circle Based Officer once appointed.
| SBI CBO Salary 2023: Perks and Allowances | |
|---|---|
| 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 employees. 75% covered for dependent family |
| Traveling 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 the post of Cadre |
SBI CBO Salary 2023: Perks
Given below are some of the perks that will be given to the SBI Circle Based Officer:
1. A SBI CBO gets a contribution Pension Scheme/New Pension Scheme.
2. The availability of medical aid for self (100%) and for family (75%).
3. LTC will be given as well.
4. Home Travel Concession/ Leave Fare Concession will also be given.
5. Concessional interest rates for Housing/Car/Personal Loans will be there.
SBI CBO Salary 2023: Job Profile
Circle-based officers have to perform some major responsibilities in the bank. SBI CBO job profile includes:
- Approval Loan Package
- Manage main branch operations
- Ensuring successful implementation of key policies
- maintaining good relations with customers
- Monitoring the work done in the bank
- Ensuring that accounting work is done correctly
SBI CBO Salary 2023:Promotion and Career Growth
After being selected for SBI CBO, candidates will have the following promotion and career growth options:
- After joining the candidates selected for SBI CBO 2023 post, the candidates will be on probation period for 6 months.
- During the SBI CBO probation period, CBOs will have to undergo continuous assessment to determine their suitability.
- All candidates qualifying in their assessment as per the standards prescribed by the Bank from time to time will be promoted in the service of the Bank to Junior Management Grade Scale-I (JMGS-I).
- Any candidate who fails to achieve the prescribed minimum standards may have his/her services suspended as per the policy of the Bank.
- The candidates selected will be in the General Cadre and will be eligible for the promotion policy which is applicable to General Cadre Officers of the Bank.
- Candidates selected will not be eligible for inner-circle transfer until their promotion to SMGS-IV grade or 12 years of service, whichever is later.