SBI CBO Salary 2024: The State Bank of India (SBI) decides the Circle Based Officer (CBO) salary. Candidates appointed for the CBO post at SBI will receive lucrative salary packages, allowances, and job security. The starting basic pay will be Rs 36,000 on the scale of Rs 36000-1490/7-46430-1740/2-49910-1990/7-63840, applicable to Junior Management Grade Scale-I plus 2 advance increments.
Apart from the basic pay, all the appointed candidates will also get various perks, allowances, and benefits as admissible to the post. With this, they should also check other job responsibilities to avoid confusion after the appointment for the post.
In this article, we have shared complete details on SBI CBO salary, including in-hand salary, perks and allowances, promotion, and career growth opportunities.
Also Check - SBI CBO Syllabus
SBI CBO Salary 2024 Overview
The SBI CBO salary has been updated through the official notification. The selected candidates shall be posted in the applied circle only. Here are the key highlights of the SBI CBO salary 2024 shared below for the reference of the candidates.
| Exam Conducting Body | State Bank of India |
| Post Name | Circle Based Officer |
| Selection Process | Online Test, Screening and Interview |
| Basic Pay | Rs 36,000 |
| Category | |
| Pay Scale | Rs 36000-1490/7-46430-1740/2- 49910-1990/7-63840 |
| Allowances | D.A, H.R.A/ Lease rental, C.C.A, Medical and other allowances |
| Official Website | sbi.co.in |
SBI CBO Salary Structure 2024
The SBI Circle Based Officer salary structure comprises various details such as pay scale, basic salary, allowances, deductions, gross salary, net salary, and other components. Here is the detailed SBI CBO salary structure shared below for the reference of the candidates.
| SBI CBO Salary Structure 2024 | |
| Particulars | 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. 58000 |
| Deduction | Rs. 8100 |
| Net Salary | Rs 50,000 |
SBI CBO In Hand Salary
The SBI CBO in hand salary consists of basic pay and allowances admissible for the post. The initial basic pay of the SBI Circle Based Officer will be Rs 36,000 in the pay scale of Rs 36000-1490/7-46430-1740/2- 49910-1990/7-63840 applicable to Junior Management Grade Scale-I. Candidates with two years or more of work experience in the officer cadre of any scheduled commercial Bank/ or regional rural bank will get two advance increments.
SBI CBO Salary: Perks and Allowances
Apart from the basic SBI CBO salary, aspirants will also receive various allowances and perquisites as per the rules in force from time to time. Here is the list of perks and allowances included in the SBI CBO salary structure, which is shared below.
| Allowances | Amount |
| Dearness Allowance | 46.9% of the Basic Pay |
| House Rent Allowance | 7% to 9%, depending on the place of posting |
| Petrol Allowance | Rs 1,100 to Rs 1,250 |
| Travelling Allowance | AC 2-tier fare is reimbursed to the employee for office travels |
| Medical Insurance | 100% covered for employees; 75% covered for dependent family |
| City Compensatory Allowance | 3% to 4%, depending on location |
| Newspaper Allowance, Entertainment Allowance, Books Allowance, etc | It depends on the Cadre post |
SBI CBO Job Profile
Candidates appointed for the Circle Based Officer post in SBI are required to perform all the tasks assigned by the senior officials. Here is the detailed SBI CBO job profile shared below for the reference of the aspirants.
- To manage the functions of the main branch
- To maintain cordial relations with customers
- To ensure that all the policies are implemented properly
- To sanction loans and monitor functions operated in the bank
SBI CBO Salary: Career Growth and Promotion
There is enormous career growth scope for the candidates appointed for the SBI CBO job profile. Upon joining, the appointed candidates will be designated as “Circle Based Officers” (CBOs) and will undergo probation for 6 months from their joining date.
During probation, the CBOs will undergo continuous assessment to judge their suitability for confirmation. They need to clear their assessment as per bank standards and will be confirmed in the service of the bank in Junior Management Grade Scale-I (JMGS-I).
If any candidate fails to meet the stipulated minimum standards, their services may be terminated as per the bank policy. The selection of the officers will be done in the general cadre and will be governed by the promotion policy applicable to the bank’s general cadre officers. However, they will not be entitled to an inter-circle transfer/ corporate centre posting/ corporate centre establishment posting/ or foreign posting up to their promotion to SMGS-IV Grade or 12 years of service, whichever is later.
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