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SBI offers attractive perks and benefits to its employees. SBI CBO salaries are given as per the 7th pay commission along with other admissible allowances. Candidates who would want to apply for this position must be interested in know the SBI CBO salary structure. Knowing the salary structure in advance will boost the motivation of the interested candidates. Before looking at any other aspect, let's have a look at the Basic Salary Structure of SBI CBO in detail. The salary structure details are as follows.
As per the official notification released by SBI, the candidates who are selected as SBI CBO will have a salary structure of Rs.36000-1490/7-46430-1740/2- 49910-1990/7-63840. It means that SBI CBO will receive a basic pay of Rs.36000 and an increment of Rs.1490 for the next 7 years. The next phase will be the basic salary of Rs.46430 and an increment of Rs.1740 for 2 years followed by basic pay of Rs.49910 and an increment of Rs.1990 for 7 years. The maximum basic pay that can be drawn by SBI CBO will be Rs.63840.
The candidates are also eligible for one increment in their basic pay for each completed year of service rendered in the officer cadre in Scheduled Commercial Bank/ Regional Rural Bank as on 01.12.2021. However, the maximum advance increment has been capped at 2 (two), irrespective of the duration of experience gained in previous employment.
| Particulars | Amount |
|---|---|
| Pay Scale | Rs.36000-1490/7-46430-1740/2- 49910-1990/7-63840 |
| Basic Pay | Rs. 36,000 |
| Dearness Allowance (DA) | Rs. 16,884 (46.9% of basic) |
| House Rent Allowance (HRA) | Rs. 2520 |
| City Compensatory Allowances (CCA) | Rs. 1080 |
| Other Allowances | Rs. 2000 |
| Gross Salary | Rs. 58,484 |
| Deduction | Rs. 8187.60 |
| Net Salary | Rs. 50,296.4 |
The in-hand salary of SBI CBO falls in the range of Rs.50,000-52,000 after the customary deductions like PF, professional tax etc. The SBI CBO in hand salary 2022 is calculated by adding the basic salary, Dearness Allowance, HRA, City compensatory allowance(varies as per location of posting).
Aspirants who clear all the stages of the SBI CBO recruitment process will then receive their salary as per the 7th pay commission. As per the official notification, the annual salary that an SBI CBO would receive will be approximately around INR 8,20,000/- INR 13,08,000/-.
Other than the salary, employees are offered other allowances, perks and benefits. Given below are the details:
| Allowance | Amount |
|---|---|
| Dearness Allowance (DA) | 46.9% |
| House Rent Allowance (HRA) | 7% to 9% of the Basic Pay |
| City Compensatory Allowances (CCA) | 3% to 4% Depending on the Location |
| Medical Insurance | 100% Covered for the Employee. 75% for Family Members |
| Traveling Insurance | Reimbursement of Fair for Official Travels Only. |
| Petrol Allowances | Around INR 1,100/- – INR 1,250/- |
| Newspaper Allowance, Entertainment Allowances, Books Allowances, etc | Varies Based on the Cadre |
Candidates selected for SBI CBO receive additional perks and benefits as per the 7th pay commission. A few of these benefits are listed below.
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30th April, 20245 Mock TestsThe last date to apply online for SBI Circle Based Officers (CBO) is 12th December 2023.
The minimum age limit for a candidate to apply for the SBI Circle Based Officer must be below 30 years.
Candidates must have studied the language in 10th or 12th standard, they have to produce a mark sheet/ certificate for having studied the specific local language of the applied State as one of the subjects.
No, Minimum 2 years’ experience (Post Essential Academic Qualification Experience) as on 31.10.2023 is required.
A total of 5447 vacancies has been released for the SBI CBO exam 2023.
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