SBI CBO Salary 2024, In-Hand Salary, Allowance and Job Profile

SBI CBO Officer Salary 2024: The State Bank of India gives a compassionate SBI CBO Officer Salary package to their SBI Circle-Based Officer (CBO). Selected Officers can receive an attractive salary package, therefore, the number of applications received will be huge. Here we are discussing the salary of a Circle Based Officer. Let us have a look at the State Bank of India Circle Based Officer In Hand Salary 2024, Perks, Allowances, and Career Growth.

SBI CBO Salary Structure 2024

The candidates who will be applying for the SBI Circle Based Officers, will be placed in the Junior Management Grade Scale 1 or JMGS-I. The JMGS 1 term is generally used to refer to the officers who have just entered the Officer Cadre after promotion from the Clerical Cadre.

The SBI CBO Pay Scale will be Rs.36000-1490/7-46430-1740/2- 49910-1990/7-63840. This means the CBO will get a basic pay of Rs 36,000/- with an increment of Rs 1490 for the next 7 years, followed by a basic of Rs 46430/- with an annual increment of Rs 1740/- for the next two years and so on. The maximum basic salary will be Rs 63,840.

SBI CBO 2024 In Hand Salary

Candidates who are selected for the position of SBI Circle Based Officer (CBO) would receive a starting salary of Rs. 36,000 plus one raise. For each year that the applicants have completed serving in the officer cadre of the Scheduled Commercial Bank and Regional Rural Bank, they will receive one promotion.

SBI CBO Perks and Allowances

The benefits and compensation that an SBI Circle-Based Officer (CBO) is eligible for are described here.

SBI CBO Allowances

After being appointed as an SBI Circle Based Officer, the candidates will receive the following allowances apart from the regular monthly salary.

SBI CBO Perks

An SBI Circle Based Officer will also be entitled to the following perks as per rules in force from time to time.

1. Contribution Pension Scheme/New Pension Scheme.
2. Medical Aid for self (100%) and for family (75%).
3. LTC.
4. Home Travel Concession/ Leave Fare Concession.
5. Concessional interest rates for Housing/Car/Personal Loans.

SBI CBO Promotion and Career Growth

1. On joining, the selected candidates will be designated as “Circle Based Officers” (CBOs) and will be on probation for a period of 6 months.
2. The CBOs will be subjected to continuous assessment during the probation period for judging their suitability for confirmation.
3. 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).
4. 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.
5. The selected officers will be in the general cadre and will be governed by the promotion policy applicable for Bank’s general cadre officers.
6. 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.

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