Union Bank of India Local Bank Officer Salary 2024: Check In Hand Salary, Job Profile, Perks and Allowance

Union Bank of India Local Bank Officer Salary 2024: The Union Bank of India (UBI) has released the Local Bank Officer (LBO) pay scale for newly selected candidates. The candidates posted as LBOs in different branches of Union Bank will be entitled to receive the lucrative amount at the end of each month, which will include the allowances, benefits, and standard deductions. As per the official notification, candidates will be placed in the pay scale of Rs 48480 - 2000/7 - 62480 - 2340/2 - 67160 - 2680/7 - 85920. Read on for complete details on the UBI LBO Salary, annual package, in-hand pay, job profile, allowances, etc.

Union Bank of India Local Bank Officer Salary 2024

The UBI has released the notification for the Local Bank Officer 2024 exam, which will recruit 1500 eligible candidates.  The candidates' starting basic pay will be approximately Rs 50000 per month. In addition to job stability, the UBI LBO role offers a competitive remuneration package and a range of perks and incentives. Here are the major details of the Union Bank of India Local Bank Officer salary for your reference.

Union Bank of India Local Bank Officer In Hand Salary 2024

The in-hand compensation of selected Union Bank of India Local Bank Officer applicants would vary depending on the postings because HRA and CCA are location-dependent. According to the most recent data, average gross earnings in metropolitan cities will be around Rs 50,000 per month. In addition, Special Allowance, Dearness Allowance, and other allowances will be paid in accordance with the bank's laws and regulations. Furthermore, the officer will be eligible for amenities such as living quarters/lease rent in lieu of quarters, LFC, reimbursement of medical/hospitalisation expenditures, and other benefits as determined by the bank's policy.

Also Check,

Union Bank LBO Syllabus 2024

Union Bank of India Local Bank Officer Salary Structure

A Union Bank of India Local Bank Officer's salary consists of a number of components, including base pay, allowances, gross earnings, net salary, deductions, and so on, ensuring that successful candidates receive a competitive remuneration package. The selected candidate's annual salary will range between 7 lakh and 9 lakh. Here is a breakdown of the Union Bank of India Local Bank Officer salary structure for candidates' reference.

Union Bank of India Local Bank Officer Salary Slip

Union Bank of India Local Bank Officer candidates will receive the slip at the end of each month. The pay slip is an official record of your earnings. The salary slip includes information about your base pay, allowances like Dearness Allowance (DA) and House Rent Allowance (HRA), any deductions, and so on. This document serves as proof of employment and can be used for loan applications, income tax filing, and other purposes.

Union Bank of India Local Bank Officer Salary 2024: Perks and Allowances

In addition to the basic pay, selected candidates will be eligible for a variety of bonuses and incentives. The allowances vary depending on the area, pay scale, and other factors. The Union Bank of India Local Bank Officer Salary includes the following benefits and allowances.

• Family Allowance
• Educational Allowance
• Local Allowance
• House Rent Allowance
• Medical Allowance
• Fuel Allowance
• Dearness Allowance
• Grade Allowance
• Leave Fare Concession
• Tour Allowance

Union Bank of India Local Bank Officer 2024 Probation Period

The selected candidates will be on probation for a period of 2 years of active service from the date of his / her joining the bank. The selected candidates will be required to execute a service indemnity bond undertaking to serve the bank for a minimum period of 3 years or to pay the bank a sum of Rs. 2,00,000.00 (Rs. 2 lakh only) plus applicable taxes as per government rules in case he / she leaves the bank before completion of 3 years of active service.