Last updated on March 17th, 2023 at 01:50 am
The State Bank of India provides a generous pay package to those chosen as Circle Based Officers (CBOs). This remuneration corresponds to the 7th pay commission along with other applicable allowances. Knowing the salary beforehand is a motivating factor for applicants to strive harder to get the position. Those placed on the merit list prepared by the Board will be appointed as SBI CBOs. The article below provides comprehensive information concerning the SBI CBO salary and job profile.
Table of Contents
SBI Circle Based Officer Salary: Overview
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SBI CBO Salary and Job Profile Overview |
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Hiring Organization |
State Bank of India |
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Official Website |
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Post name |
Circle Based Officer |
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Salary |
INR 36,000 |
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Probation Period
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6 months |
SBI Circle Based Officer Salary: Annual Package
The chosen applicants included in the ultimate merit list will be qualified for the job of SBI Circle-Based Officer. Those individuals will get a generous salary package according to the 7th pay commission. The yearly compensation that an SBI CBO would obtain is around INR 4,32,000/- with an additional INR 12,0000/-.
SBI Circle Based Officer Salary: Structure
The candidates have now been made aware of the SBI CBO yearly wage package that they will receive upon being chosen for the role. We can look at the in-depth salary structure of the SBI CBO. The salary structure specifics are listed below.
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SBI CBO Salary Structure |
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Pay Scale |
INR 36000-1490/7, INR-46430-1740/2, INR 49910-1990/7, INR.63840 – |
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Basic Pay |
INR 36,000 |
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Total Salary Per Annum |
INR 4,32,000/- INR 12,0000/- |
SBI Circle Based Officer Salary: Perks & Benefits
Candidates that are chosen will also earn extra advantages and privileges in accordance with the 7th pay commission. The advantages are stated below.
- Home Travel Concession/Leave Fare Concession
- Leave Travel Concession (LTC)
- Pension Scheme/New Pension Scheme
- Concessional Interest Rates for Housing/Personal Loans.Car Loans
SBI Circle Based Officer Salary in Hand
The SBI CBO will earn an in-hand remuneration of around INR 36,000/-. The in-hand wage will include allowances as defined by the 7th pay commission.
SBI Circle Based Officer Salary: Probation Period
After selected for the position of SBI CBO in the relevant circles, applicants must serve a 6-month probationary term. Throughout the probation term, applicants will be evaluated until they are confirmed. Those applicants who do not qualify for the probationary period will be fired.
SBI Circle Based Officer Salary: Allowances
According to the 7th pay commission, the SBI CBO will earn allowances such as DA, HRA, CCA, and so on. The allowances are shown in the table below. Further information may be found below.
| Allowance | Amount |
|---|---|
| Dearness Allowance (DA) | 46.9% of the Basic Pay |
| 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 Insurance | Reimbursement of Fair for Official Travels Only. |
| Petrol Allowances | Around INR 1,100/- – INR 1,250/- |
| Newspaper Allowance, Entertainment Allowances, Books Allowances, etc. | Varies Based on the Cadre |
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SBI Circle Based Officer Salary: Job Profile
Applicants taking the SBI CBO Examination should be aware of the details of the position they are preparing for, such as the SBI CBO Salary Job Profile. It is critical to understand the SBI Circle Based Officer’s functions and responsibilities. Below is the job description for interested candidates to review:
- Managing core branch functions.
- Approving loan packages.
- Ensure smooth implementation of essential policies.
- Monitoring bank operations for correct accounting.
- Developing relationships with customers.
SBI Circle Based Officer Salary: Growth & Promotion
The applicants will begin working for the SBI as Circle Based Officers at the Junior Management Grade Scale 1. Depending on their performance and the bank’s regulations, there is potential for the applicants to be promoted to the Senior Management Grade Scale 4. Supervision of the applicants by the bank authorities will be ongoing.
SBI Circle Based Officer Salary: FAQs
Medical, travel, gasoline, newspaper, books, and a few more allowances are provided to the SBI CBO.
The SBI CBO receives benefits such as Home Travel Concession/Leave Fare Concession, Leave Travel Concession (LTC), and Pension Plan/New Pension Scheme.
The pay for the position of CBO at SBI is from INR 8,20,000/- to INR 13,8,000/-.
The SBI CBO position has a 6-month probation period.
Yes, the SBI Circle Based Officer receives allowances.
