SBI CBO Salary 2024, Pay Scale, Salary Structure

The SBI CBO Salary 2024 provides a competitive package for those selected for the Circle Based Officer (CBO) role at the State Bank of India. The starting basic SBI Circle Based Officer Salary 2024 is Rs 36,000, and the pay scale ranges from Rs 36,000 to Rs 63,840, with additional increments. SBI CBO Salary structure, along with job security and opportunities for career growth, makes the SBI CBO role an attractive option for aspiring candidates.

SBI CBO Salary 2024

In addition to the basic SBI CBO Salary, SBI CBOs receive various perks, allowances, and benefits such as dearness allowance and house rent allowance, which enhance the overall in-hand salary. Candidates should also be aware of the job responsibilities associated with the CBO role to ensure they are well-prepared. The combination of a good SBI Circle Based Officer Salary 2024 and comprehensive benefits makes the SBI CBO post a valuable career opportunity in the banking sector.

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SBI CBO Salary Structure

For the SBI Circle Based Officer (CBO) role, selected candidates will receive a competitive SBI CBO Salary 2024 along with various benefits and job stability. The initial basic SBI Circle Based Officer Salary 2024 for the Junior Management Grade Scale-I position is ₹36,000, with a salary range from ₹36,000 to ₹63,840. Additionally, candidates will receive two advance increments. The detailed SBI CBO Salary structure is as follows:

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Component	Amount
Pay Scale	₹36,000 – ₹63,840
Basic Pay	₹36,000
Dearness Allowance (DA)	₹16,884
House Rent Allowance (HRA)	₹2,520
City Compensatory Allowance (CCA)	₹1,080
Other Allowances	₹2,000
Gross Salary	₹58,000
Deductions	₹8,100
Net Salary	₹50,000

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SBI CBO In-hand Salary

The SBI CBO In-hand Salary includes the basic pay and various allowances for the role. The starting basic pay is ₹36,000, with a pay scale ranging from ₹36,000 to ₹63,840 for the Junior Management Grade Scale-I post. Candidates with at least two years of experience as an officer in a scheduled commercial bank or regional rural bank will receive two extra increments.

SBI CBO Salary 2024- Allowances

These perks and allowances add to the overall SBI Circle Based Officer Salary 2024 package, making the SBI Circle-Based Officer post quite appealing.

Allowance	Details
Dearness Allowance	46.9% of the Basic Pay
House Rent Allowance	7% to 9%, based on the location of posting
Petrol Allowance	₹1,100 to ₹1,250
Travelling Allowance	Reimbursement for AC 2-tier fare for office travel
Medical Insurance	100% coverage for employees; 75% for dependents
City Compensatory Allowance	3% to 4%, depending on location
Other Allowances	Varies based on the specific cadre post, including Newspaper, Entertainment, and Books Allowances

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SBI CBO Perks & Benefits

Candidates selected for SBI CBO receive additional perks and benefits as per the 7th pay commission. A few of these benefits are listed below.

Home Travel Concession/Leave Fare Concession
Leave Travel Concession (LTC)
Pension Scheme/New Pension Scheme
Concessional Interest Rates for Housing/Personal Loans/Car Loans

SBI CBO Probation Period

The selected SBI CBO in respective circles will undergo a probationary period of 6 months which will be under continuous assessment until the time of confirmation. If a candidate fails to qualify during the probationary period will be terminated from the service.

SBI CBO Growth & Promotion

The below table summarizes the key details regarding the probation period, performance assessment, confirmation process, and other important aspects related to the Circle Based Officer position.

Designation Upon Joining	Circle Based Officer (CBO)
Probation Period	6 months
Continuous Assessment	During probation, performance will be continuously assessed.
Confirmation	Based on meeting the bank’s standards; confirmed as Junior Management Grade Scale-I (JMGS-I)
Failure to Meet Standards	Services may be terminated as per bank policies.
Cadre	General cadre; promotion policy applicable for general cadre officers.
Transfer Eligibility	No inner-circle transfer until promoted to SMGS-IV Grade or after 12 years of service, whichever is later.

SBI CBO Job Profile

Candidates preparing for the SBI CBO Examination should understand the job role and responsibilities of an SBI Circle Based Officer (CBO). Here are the main duties:

Managing key functions at the branch.
Approving loan applications.
Ensuring proper implementation of important policies.
Overseeing bank operations to maintain accurate accounting.
Developing and nurturing customer relationships.

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SBI CBO Salary 2024 – FAQs

Q1. What allowances are included in the SBI CBO salary?

Ans. The allowances include Dearness Allowance, House Rent Allowance, Petrol Allowance, and City Compensatory Allowance.

Q2. How much is the Dearness Allowance for SBI CBO?

Ans. The Dearness Allowance is 46.9% of the Basic Pay.

Q3. What is the House Rent Allowance for SBI CBO?

Ans. The House Rent Allowance ranges from 7% to 9% depending on the posting location.

Q4. What is the City Compensatory Allowance for SBI CBO?

Ans. The City Compensatory Allowance is 3% to 4% based on the location.

Q5. Is medical insurance covered for SBI CBO employees?

Ans. Yes, medical insurance is 100% covered for employees and 75% for their families.

Q6. What is the Petrol Allowance for SBI CBO?

Ans. The Petrol Allowance ranges from ₹1,100 to ₹1,250.

Anjali

I write content to help people prepare for banking exams because I have experience as an aspirant myself. My goal is to provide accurate and easy-to-understand information for candidates. I cover various topics such as exam patterns, syllabus, study techniques, and time management to support those preparing for the exams. As a former aspirant turned content writer, I want to make the information accessible and helpful for others so that they can do well in their banking and government exams and achieve their goals.

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