Indian Overseas Bank LBO Salary 2025: Indian Overseas Bank aims to fill 400 vacancies for Local Bank Officers in JMGS-I. It is an exceptional opportunity for candidates aspiring to stable careers with long-term benefits in the banking industry. The selected candidate will be placed in the grade of Assistant Manager (Scale I) posts and shall be entitled to the basic salary of Rs 48480 plus other allowances. Candidates must also check the IOB LBO job profile to ascertain their job suitability and establish their career goals accordingly. Further details about the IOB Local Bank Officers' in hand salary and other components are discussed here.
Indian Overseas Bank LBO Salary 2025 Structure
The salary structure for the LBO post comprises information like basic pay, allowances, and deductions. The newly recruited candidates will be placed under the pay scale of Rs 48480-2000/7-62480-2340/2-67160-2680/7-85920. Here is the detailed IOB LBO salary structure tabulated below:
| Basic Pay | Increment Amount | Duration (Years) | Salary Range |
| Rs 48,480 | Rs 2,000 | 7 years | Rs 48,480- Rs 62,480 |
| Rs 62,480 | Rs 2,340 | 2 years | Rs 62,480- Rs 67,160 |
| Rs 67,160 | Rs 2,680 | 7 years | Rs 67,160-Rs 85,920 |
IOB LBO Salary in Hand
The IOB LBO salary in hand is structured as per guidelines prescribed by the bank. The actual monthly salary is the combination of the basic pay and allowances. Initially, the basic pay of a newly recruited Local Bank Officer in JMGS I will be Rs 48480. There shall be an increment of Rs 2000 annually for the next 7 years, reaching basic pay of Rs 62480, then by Rs 2340 annually for the subsequent 2 years to Rs 67160 and finally an increment of Rs 2680 annually for the next 7 years, reaching a maximum pay of Rs 85920. Along with basic pay, there are also various perks and allowances included in the annual package.
Indian Overseas Bank LBO Salary: Allowances
The selected candidates will be entitled to various perks, allowances, and benefits as per the service rules of the bank applicable at the time of appointment. The list of perks and allowances included in the IOB LBO salary package is as follows:
- Dearness Allowances (DA)
- House Rent Allowances (HRA)
- CCA
- Leave Allowances
- Travel Allowances, etc
Indian Overseas Bank LBO Salary: Bond Amount
Candidates appointed for Local Bank Officers in JMGS I will be required to sign a Financial Service Indemnity Bond for Rs 2,00,000 for offering service for at least 3 years.
IOB LBO Job Profile
Aspirants recruited as Local Bank Officers will be entrusted with duties like handling day-to-day bank operations and ensuring the efficiency of the branch. Some of the roles and responsibilities included in the IOB LBO Job Profile are as follows:
- To handle daily banking operations and ensure that all the bank policies and standards are followed.
- To address all the customer issues and offer necessary solutions.
- To promote accurate record-keeping and streamlined processes to help prevent financial mistakes and fraudulent activity.
- To handle loan recovery and pending debts.
- To perform all the assigned tasks.
Indian Overseas Bank LBO Probation Period
The selected candidates will be on a probation period from the date of joining the post. The IOB LBO probationary period shall be 2 years (active service). Their confirmation in the Bank’s service will be decided by the Bank as per the Officers’ Service Regulation (OSR).
IOB LBO Career Growth & Promotion
Candidates appointed as Local Bank Officers have excellent prospects for career advancement and long-term growth. The appointed aspirants will be posted within the state selected for the first 12 years of their service or up to their promotion to SMGS-IV Grade, whichever is earlier.
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