State Bank of India Circle Based Officer (CBO) Salary: Candidates interested in the circular based officers (CBOs) recruitment must be curious to know the structure of the SBI CBO salary. An SBI CBO post is paid Rs. 23700 as the basic pay. In addition to Basic Pay, Allowances, and Increments, the SBI CBO In Hand Salary will include their previous service contributions. There will also be many other perks and benefits included and those mentioned above. There are thousands of aspirants trying to get through the SBI CBO exam every year, mostly due to the high salaries and job security.
As part of the SBI CBO Recruitment notification, SBI will soon release a list of Circle-Based Officers vacancies. Our article will take you through the complete salary structure of SBI CBO, which includes basic salary, increases, allowances, bonuses, and career growth opportunities. Keep reading to learn more! Install Byju’s Exam Prep app to prepare for SBI exams.
SBI CBO Salary
Circle Based Officers are placed in Junior Management Grade Scale 1, which is equivalent to JMGS-I. Upon joining the bank, candidates are placed in this category.
The pay scale for SBI CBOs is as follows:
- 23700 + 980/7
- 30560 +1145/2
- 32850 +1310/7
Expansion of the pay scale
|Salary||Annual Increase||No. of years
|Rs. 23700||Rs. 980||The first seven years
|Rs. 32850||Rs. 1310||The first seven years
|Rs. 30560||Rs. 1145||The first two years
|Rs. 42020||Till retirement
SBI CBO Salary adjustments are made in light of inflation. Therefore, as an SBI CBO career progresses, their salary will increase.
As a circle-based officer, you are entitled to a starting salary of Rs. 23700/- plus an increment for every year of experience completed in a previous bank. Let’s begin by examining the post’s base pay to understand the pay structure in detail.
For the next seven years, the base pay will be Rs. 23700, and it will be increased by Rs. 980 each year. Basic pay of Rs. 30560 becomes payable upon reaching 7 years of service.
Following that, there will be a planned increase of Rs. 1145 per year for the next two years. As a result, the basic pay will be Rs.32850/- after nine years of service.
The maximum SBI CBO basic pay will be Rs. 42020/- after another 1310 increases per year for the next 7 years.
In-Hand Salary of SBI CBO
The SBI CBO In-Hand Salary will include your Basic Pay, Allowances, and Increments based on your service at your previous bank. The basic pay for scheduled commercial bank officers and regional rural bank officers is expected to be Rs. 23700 plus one increment. SBI CBO In-Hand Salary will be determined after adding the allowances to the salary. Download Byju’s exam prep app to get a competitive edge when appearing for this exam.
Considering the Basic Pay, Allowances, and Increments, the In-Hand Salary for Circle Based Officer posts will be approximately Rs. 38000/- to 40000/-.
Salary and allowances for SBI Circle Based Officers
In addition to salaries, various allowances are provided with the SBI CBO Salaries. Daily Allowances, Housing Allowances/Lease Rent, CCA, Medical, and other allowances. Review the details below to learn more about SBI CBO Allowances.
|Dearness Allowances||46.9% of the Basic Pay
|Compensation Allowance for the City||3% – 4% depending on location
|Allowance for housing costs||7% to 9% of the Basic Pay
|Medical Insurance||100% of the employee’s family is covered, 75% of the employee’s
|Petrol Allowances||Approximately Rs. 1,100 to 1,250
|Travelling Allowance||Travel expenses reimbursable
|Various newspaper allowances, books allowances, entertainment allowances, etc.||The rate depends on the Cadre
Benefits & Perks of SBI CBOs
The officers will also receive several perks and benefits and their Basic Pay and Allowances. Here is more information.
- Schemes for Pensions/New Pension Scheme
- Home travel concessions/leave fare concessions
- Mortgage/car/personal loan rates at a concessionary rate
- Travel Concessions (LTC)
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