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SBI CBO Salary | Complete Details

SBI CBO Salary

SBI CBO Salary: SBI offers attractive perks and allowances to its employees. And when it comes to Junior Management Grade Scale-I officers like SBI CBO, this becomes even more lucrative. SBI CBO salaries are given as per the 7th pay commission along with other admissible allowances. Knowing the salary package before the exam will be an added motivating factor for banking personnel looking to make it into SBI as CBOs. Let us have a look at the salary details of SBI CBO with complete In-hand Salary, Structure, Perks, Allowances and Job Profile of SBI CBO. SBI CBO notification 2021-22 involves an online written objective & Descriptive and Interview. Read along to know more.

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SBI CBO Salary Structure

Before looking at any other aspect, let's have a look at the Basic Salary Structure of SBI CBO in detail. The salary structure details are as follows.

As per the official notification released by SBI, the candidates who are selected as SBI CBO will have a salary structure of Rs.36000-1490/7-46430-1740/2- 49910-1990/7-63840. It means that SBI CBO will receive a basic pay of Rs.36000 and an increment of Rs.1490 for the next 7 years. The next phase will be the basic salary of Rs.46430 and an increment of Rs.1740 for 2 years followed by basic pay of Rs.49910 and an increment of Rs.1990 for 7 years. The maximum basic pay that can be drawn by SBI CBO will be Rs.63840.

The candidates are also eligible for one increment in their basic pay for each completed year of service rendered in the officer cadre in Scheduled Commercial Bank/ Regional Rural Bank as on 01.12.2021. However, the maximum advance increment has been capped at 2 (two), irrespective of the duration of experience gained in previous employment.

ParticularsAmount
Pay ScaleRs.36000-1490/7-46430-1740/2- 49910-1990/7-63840
Basic PayRs. 36,000
Dearness Allowance (DA)Rs. 16,884 (46.9% of basic)
House Rent Allowance (HRA)Rs. 2520
City Compensatory Allowances (CCA)Rs. 1080
Other AllowancesRs. 2000
Gross Salary Rs. 58,484
DeductionRs. 8187.60
Net Salary Rs. 50,296.4

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SBI CBO In-hand Salary

The in-hand salary of SBI CBO falls in the range of Rs.50,000-52,000 after the customary deductions like PF, professional tax etc. The SBI CBO in hand salary 2021 is calculated by adding the basic salary, Dearness Allowance, HRA, City compensatory allowance(varies as per location of posting). 

SBI CBO Annual Package

Aspirants who clear all the stages of the SBI CBO recruitment process will then receive their salary as per the 7th pay commission. As per the official notification, the annual salary that an SBI CBO would receive will be approximately around INR 8,20,000/- INR 13,08,000/-.

SBI CBO Salary - Allowances, Perks & Benefits

SBI CBO Allowances

As we have already discussed the in-hand salary, which includes various allowances, it is time for us to have a clearer view of the most common allowances rewarded to SBI CBO selected. The different allowances given are –

AllowanceAmount
Dearness Allowance (DA)46.9%
House Rent Allowance (HRA)7% to 9% of the Basic Pay
City Compensatory Allowances (CCA)3% to 4% Depending on the Location
Medical Insurance

100% Covered for the Employee.

75% for Family Members

Traveling InsuranceReimbursement of Fair for Official Travels Only.
Petrol AllowancesAround INR 1,100/- – INR 1,250/-
Newspaper Allowance, Entertainment Allowances, Books Allowances, etcVaries Based on the Cadre

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SBI CBO Perks & Benefits

Candidates selected for SBI CBO receive additional perks and benefits as per the 7th pay commission. A few of these benefits are listed below.

  1. Home Travel Concession/Leave Fare Concession
  2. Leave Travel Concession (LTC)
  3. Pension Scheme/New Pension Scheme
  4. Concessional Interest Rates for Housing/Personal Loans/Car Loans

SBI CBO 2021-22 Admit Card Released. Check here

SBI CBO Probation Period

The selected SBI CBO in respective circles will undergo a probationary period of 6 months which will be under continuous assessment until the time of confirmation. If a candidate fails to qualify during the probationary period will be terminated from the service.

SBI CBO Growth & Promotion

SBI Circle Based Officers is employed as Junior Management Grade Scale 1. Bank rules and performance at work play a vital role in receiving promotions. Bank employees are closely observed for this purpose. CBOs joining at Scale 1 will receive enough promotions opportunities and reach Senior Management Grade Scale 4. Starting now with these SBI PO Preparation Strategy and ace the exam.

SBI CBO Job Profile

Some of the roles and responsibilities (not limited to) of an SBI CBO are as follows: 

  • Management of core functions of a bank
  • Loan packages will be approved by the SBI CBO in a bank branch.
  • Banking Operations monitoring
  • Maintaining healthy relationships with the customers
  • Smooth implementations Of policy

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FAQs

When will the SBI CBO 2021 Exam be conducted?

The SBI CBO exam will be conducted in January 2022.

What is the last date to apply for the SBI CBO exam 2021? +

The last date to apply online for SBI Circle Based Officers (CBO) is 29th December 2021.

Is a fresh graduate eligible to appear in SBI CBO exam 2021? +

No, Minimum 2 years' experience required for SBI Circle Based Officers (CBO) 2021 exam.

How many vacancies SBI released for the post of Circle Based Officer? +

A total of 1226 vacancies has been released for the SBI CBO exam 2021.

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