Bank of India Credit Officer Salary, In-Hand Pay & Allowances

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Published on 17 December 2025 by
Bank of India Credit Officer Salary

The Bank of India Credit Officer Salary is offered as per the official notification released by BOI for posts under the GBO stream. Selected candidates receive a structured monthly salary along with multiple allowances, long-term job security, and career growth opportunities. The salary varies based on the grade scale—MMGS II, MMGS III, and SMGS IV—and follows the standard officer pay structure applicable to public sector banks.

What is the pay scale for Bank of India Credit Officer posts?

Bank of India has defined separate pay scales for credit officer posts across different management grades. These pay scales include annual increments and progress through multiple stages.

Post NameGrade ScalePay Scale
Credit Officer (Middle Management)MMGS II₹64,820 – 2,340 (1) – 67,160 – 2,680 (10) – 93,960
Credit Officer (Middle Management)MMGS III₹85,920 – 2,680 (5) – 99,320 – 2,980 (2) – 1,05,280
Credit Officer (Senior Management)SMGS IV₹1,02,300 – 2,980 (4) – 1,14,220 – 3,360 (2) – 1,20,940

What is the in-hand salary of a BOI credit officer?

The in-hand salary of a BOI credit officer depends on the posting location, applicable allowances, and deductions such as PF and pension contributions. After adding allowances, the monthly gross salary becomes significantly higher than the basic pay. On average, the in-hand salary ranges from

  • MMGS II: ₹85,000 to ₹95,000
  • MMGS III: ₹1,00,000 to ₹1,10,000
  • SMGS IV: ₹1,15,000 to ₹1,25,000

What allowances and perks are included in the Bank of India Credit Officer salary?

In addition to basic pay, Bank of India offers several allowances and benefits to credit officers, making the overall compensation highly attractive.

  • Dearness Allowance (DA)
  • House Rent Allowance (HRA) or leased accommodation
  • Special Allowance
  • Transport Allowance
  • Provident Fund
  • Pension under New Pension Scheme
  • Medical benefits for self and dependents
  • Leave Fare Concessions
  • Other welfare and staff benefits as per bank rules

What is the job profile of a Bank of India credit officer?

The role of a Bank of India credit officer involves managing credit proposals, assessing risk, and ensuring compliance with banking norms. The position carries responsibility and requires strong financial and analytical skills. Key responsibilities include:

  • Evaluating loan proposals of individuals, MSMEs, and corporates
  • Analyzing financial statements, credit reports, and repayment capacity
  • Assessing credit risk and ensuring regulatory compliance
  • Monitoring loan accounts and identifying early stress signals
  • Tracking NPAs and preparing portfolio performance reports
  • Coordinating with branches, risk teams, legal, and audit departments

Is Bank of India Credit Officer a good career option?

Yes, the Credit Officer role at Bank of India offers a stable career with strong financial growth, exposure to credit operations, and promotion opportunities. Officers gain experience in core banking functions, making it a preferred role for professionals aiming to build long-term careers in banking and finance. The combination of salary, allowances, authority, and job security makes this position highly rewarding.

FAQs

Q1: What is the starting salary of a Bank of India Credit Officer?
A1: The starting basic pay depends on the grade. For MMGS II it is ₹64,820, for MMGS III ₹85,920, and for SMGS IV ₹1,02,300, excluding allowances.

Q2: What is the in-hand salary of a BOI Credit Officer?
A2: The in-hand salary generally ranges from ₹85,000 to ₹1.25 lakh per month, depending on the grade, posting location, and applicable allowances.

Q3: Are allowances included in the Bank of India Credit Officer salary?
A3: Yes, the salary includes Dearness Allowance, HRA or leased accommodation, transport allowance, medical benefits, pension, and other staff benefits.

Q4: Does Bank of India Credit Officer post offer job security?
A4: Yes, as a public sector bank role, the Credit Officer post offers high job security along with long-term career growth and promotion opportunities.

Q5: Is the Bank of India Credit Officer role suitable for experienced professionals?
A5: Yes, the recruitment is specifically aimed at experienced banking and finance professionals for middle and senior management roles.