SBI CBO Salary 2022, In Hand Salary, Career Growth

SBI CBO Salary 2022: The State Bank of India is recruiting 1226 candidates for the position of Circle Based Officer (CBO). The attractive salary package offered by the SBI Circle Based Officers (CBO) will make it very difficult to turn down applications. We will be discussing the salary for a Circle Based Officer. Let’s take a look at the State Bank of India Circular Based Officer In Hand Salary 2022. It includes Perks and Allowances as well as Career Growth.

SBI CBO Salary 2022
SBI CBO Salary 2022

Salary for SBI CBO 2022 – View Revised Salary Structure

Candidates who are applying for the SBI Circle Based Officers in 2022 will be placed in the JMGS-1 or Junior Management Grade Scale 1. The term is used to describe officers who just joined the Officer Cadre following promotion from the Clerical Cadre.

The SBI CBO Pay Scale will be Rs.36000-1490/7-46430-1740/2- 49910-1990/7-63840. The CBO will receive a basic salary of Rs 36,000/year with an increment Rs 1490 over the next seven years. This is followed by a basic salary of Rs 46430/year with an annual increment Rs 1740/year for the next two and so forth. The maximum basic salary is Rs 63840.

SBI CBO Salary 2022
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 In Hand Salary

Candidates who are appointed as SBI Circle Based Official (CBO), will receive a basic pay of Rs. 36,000/- plus an increment at the start of the job. For each year that the candidate has served in the Officer Cadre in the Scheduled Commercial Bank or Regional Rural Bank, they will receive one increment.

SBI CBO Perks and Allowances

We will be describing the perks, allowances and benefits that an SBI Circle Based officer (CBO), is entitled to.

SBI CBO Allowances

The following allowances will be paid to candidates after they are appointed as SBI Circle Based Officers.

Allowance The amount
Dearness Allowance 46.9% of Basic Pay
City Compensatory Allocation 3% – 4% depending on location
House Rent Allowance Depending on where you are posting, 7% to 9%
Medical Insurance 75% covered for dependent family
Travelling Allowance For official travels, the AC 2-tier fare will be reimbursed to the employee
Petrol Allowance INR 1,100-1,250
Newspaper Allowance,Entertainment Allowance,
Books Allowance, etc.
Variables based on Cadre

SBI CBO Perks

SBI Circle Based Officers will also have the right to these perks, as per the rules in force from times to others.

  1. Contribution Pension Scheme/New Pension Scheme.
  2. Medical aid for yourself (100%) or for your family (75%).
  3. LTC.
  4. Home Travel Concession/ Leave fare concession
  5. Concessional interest rates on Housing/Car/Personal Loans

SBI CBO Salary: Promotion, Career Growth

  1. The selected candidates will be named “Circle Based Officers (CBOs) upon joining and will be placed on probation for 6 months.
  2. Continuous assessment will be done on the CBOs during probation to determine their suitability for confirmation.
  3. Candidates who pass the Bank’s assessment will be accepted into the Bank’s Junior Management Grade Scale (JMGS)-I.
  4. Failure to meet the minimum standards may result in the candidate’s termination of service. This is per the Bank policy at the time.
  5. The promotion policy for Bank general cadre officers will apply to the selected officers.
  6. The inner-circle transfer of selected candidates is not available until the candidate’s promotion to SMGS IV Grade or 12 years service, whichever comes first.

SBI CBO Salary 2022 FAQs

Q. What is the basic pay of SBI CBO 2022?

Ans. SBI CBO basic pay in the starting is Rs. 36000/- per month.

Q. What is the SBI CBO in-hand salary?

Ans. The in-hand salary of an SBI Circle based officer is Rs. 50,000 to 52,000/- per month.

Q. What is the probation period of an SBI CBO?

Ans. There is a probation period of 6 months given to an SBI CBO.

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