SBI CBO Salary is one of the major points that attract candidates to go for this job and work hard towards chasing this opportunity. It gives them a good chance of having to work in one of the largest banks in the country. It also provides a lucrative SBI CBO salary and a secure career.
Knowing about the SBI CBO Salary in hand and other basic facilities and benefits that one receives while on the job gives candidates motivation and confidence.
Candidates applying for the Circle Based Officer exam must know details about the SBI CBO Salary. Below are all the details, including the SBI Salary in hand, salary structure, career growth, several components of the salary and more.
According to the official notification in the initial stages of the service, candidates will join as Junior Management Grade Scale or JMGS-1. After which, he will be promoted to SMGS, Senior Management Grade Scale-IV (Approximately after 12 years). The basic pay of SBI CBO is Rs.36000-1490/7-46430-1740/2-49910-1990/7-63840, as mentioned in the official notification.
This implies the SBI Circle Officer will be paid a base salary of Rs 36,000 with an annual increment of Rs 1490 for the following seven years, then a basic salary of Rs 46,430 with an annual increment of Rs 1740 for the next two years, and so on. Rs 63,840 will be the maximum basic wage.
SBI CBO (Circle Based Officer) draws a salary of around ₹ 43,000-46,000 inclusive of all the perks and other benefits. Deductions to the gross SBI CBO salary are made according to the rules of the bank community.
The take-home salary for the candidates would be getting the pay equal to that of SBI PO. So if you are considering joining SBI as Circle Based Officer, it is a good opportunity for private bank employees and government employees to serve in SBI.
Apart from the SBI CBO salary 2022, the candidates are also entitled to certain perks and perquisites in the form of travel allowance, medical allowance, CCA, Dearness allowance, house rent allowance, etc., as per the rules decided by the State Bank of India. Check complete details of allowances that an SBI Circle Based Officer gets.
Allowance | Amount |
Dearness Allowances (DA) | 75.9% of the Basic Pay |
House Rent Allowance (HRA) | 7-9% of Basic pay. Depending on the place of posting. |
City Compensatory Allowance (CCA) | 3% – 4%, which depends on the place of posting. |
Medical Insurance | 75% for the family members and 100% for the employee of the organization |
Travelling Allowance | Reimbursement of the amount spent on travelling |
Petrol Allowances | Up to 45 ltr (2 wheeler) and up to 55 ltr (4 wheeler) in a month |
Books Allowance, Entertainment Allowance, Newspaper Allowance, etc | Varies based on the Cadre |
Besides the mentioned Basic Pay and Allowances, officers will also be eligible for the mentioned benefits.
Selected candidates will join as Junior Management Grade Scale-1 (JMSG-1). After the probation of 6 months performance of the employee will be assessed. Candidates will get several opportunities to get promoted to higher levels. He can get promoted to Senior Management Grade Scale-IV. Check the complete details below.
We have provided you with complete details on SBI CBO salary in hand, career progression, and other details. Do apply now if you are eligible for this post and have not applied yet.
Important Links: -
| SBI CBO Syllabus 2022 | SBI CBO Cut Off |
| SBI CBO Mock Test | SBI CBO Online Coaching |
Good Luck!
All the candidates need to be aware of the SBI CBO job profile. SBI Circle Officer is a Junior Management Grade Scale-I post. 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. The selected officers will be in the general cadre and governed by the promotion policy applicable to Bank’s general cadre officers.
The selected candidates will not be entitled to inter-circle transfer/ Corporate Centre Posting/ Corporate Centre Establishment Posting/ Foreign Posting up to his/ her promotion to SMGS-IV Grade OR 12 years of service, whichever is later; However, the probation period of 6 months may be extended for the candidates with a low performance during the probation period.
The SBO CBO Salary pay scale will be Rs.36000-1490/7-46430-1740/2-49910-1990/7-63840 inclusive of all the perks and other benefits.
There is a probation period of 6 months for the SBI CBO job post.
The promotions for the SBI CBO posts is applicable for all eligible employees as per the bank rules and performance.
Yes, of course. After being selected as SBI Circle Officers, the candidates will also be entitled to many benefits and allowances such as DA, HRA, CCA, etc.
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