This article talks about the salary of SBI Circle-Based Officers in 2024. It explains that the State Bank of India offers a good salary package to these officers, which makes many people apply for the job. The article also provides information about the in-hand salary, perks, allowances, and career growth opportunities for Circle-Based Officers in SBI.
SBI CBO Salary Structure 2024
Candidates who apply for the SBI Circle Based Officers will be placed in the Junior Management Grade Scale 1 or JMGS-I. This term is used for officers who have recently been promoted from the Clerical Cadre. The salary for SBI CBO will start at Rs. 36,000 and increase by Rs. 1,490 every year for 7 years. After that, it will increase to Rs. 46,430 with an annual increment of Rs. 1,740 for 2 years. The maximum salary will be Rs. 63,840.
| SBI CBO Salary Structure 2024 | |
| 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 2024 In Hand Salary
Candidates who are chosen for the job of SBI Circle Based Officer (CBO) will get a starting salary of Rs. 36,000 and a raise. They will also get a promotion for each year they have worked in the officer position at a Scheduled Commercial Bank or Regional Rural Bank.
SBI CBO Perks and Allowances
This is what an SBI Circle-Based Officer (CBO) can get in addition to their regular salary.
| 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 |
SBI CBO Perks
An SBI Circle Based Officer will also receive additional benefits according to the current rules.
- Contribution Pension Scheme/New Pension Scheme.
- Medical Aid for self (100%) and for family (75%).
- LTC.
- Home Travel Concession/ Leave Fare Concession.
- Concessional interest rates for Housing/Car/Personal Loans.
SBI CBO Promotion and Career Growth
- On joining, the selected candidates will be designated as “Circle Based Officers” (CBOs) and will be on probation for a period of 6 months.
- The CBOs will be subjected to continuous assessment during the probation period for judging their suitability for confirmation.
- The candidates who qualify in their assessment as per standards determined by the Bank from time to time will be confirmed in the service of the Bank in Junior Management Grade Scale-I (JMGS-I).
- If any candidate fails to achieve the minimum standards stipulated, his/ her services may be terminated as per the policy of the Bank in force at the material time.
- The selected officers will be in the general cadre and will be governed by the promotion policy applicable for Bank’s 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.
FAQ – Frequently Asked Questions
What is the basic pay of SBI CBO 2024?
The starting salary for SBI CBO is Rs. 36000/- per month.
What is the SBI CBO in-hand salary?
An SBI Circle based officer earns around Rs. 50,000 to 52,000/- per month as their take-home salary.
What is the probation period of an SBI CBO?
An SBI CBO is given a trial period of 6 months.