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SBI CBO Salary 2021: As we all know, the State Bank Of India has announced the notification for the recruitment of the 1226 candidates for the post of SBI Circle Based Officers. Candidates who all are interested and eligible for the SBI CBO Recruitment 2021 might be curious to know the SBI CBO Salary 2021. SBI has been known for offering higher salary packages to their employees than other public sector banks. The in-hand revised salary of SBI CBO is 36,000/-. Candidates must check all the details related to the Circle Based Officers in the salary package such as basic pay, allowances, and other benefits from the article below.
What Is The Salary Of SBI CBO?
As per the notification released by SBI, for the SBI CBO 2021, the starting basic pay is 36,000/- on the scale of 36000-1490/7-46430-1740/2- 49910-1990/7-63840 applicable to Junior Management Grade Scale-I plus one increment for each completed year of service rendered in officer cadre in Scheduled Commercial Bank/ Regional Rural Bank as on 01.12.2021. The SBI CBO In hand salary is now revised to 50,000-52,000 from Rs 33,000 to 35,000. However, the maximum advance increment has been capped at 2 (two), irrespective of the duration of experience gained in previous employment. The official will also be eligible for D.A, H.R.A/ Lease rental, C.C.A, Medical, and other allowances & perquisites as per rules in force from time to time.
SBI CBO Recruitment 2021 Notification Out PDF: Download Here
SBI CBO Salary Structure 2021
As per the notification and as of 1/01/2021, the basic initial pay of the CBO is Rs36,000 which is on the scale of 36000-1490/7-46430-1740/2- 49910-1990/7-63840 as mentioned above. Candidates can check the below table to get a detailed overview of the SBI CBO Salary Structure.
| SBI Circle Based Officer Salary 2021 | |
| Allowance | Amount |
| Pay Scale | 36000-1490/7-46430-1740/2- 49910-1990/7-63840 |
| Basic Pay | Rs. 36,000 |
| Dearness Allowance (DA) | Rs. 16,884 |
| House Rent Allowance (HRA) | Rs. 2520 |
| City Compensatory Allowances (CCA) | Rs. 1080 |
| Other Allowances | Rs. 2000 |
| Gross Salary | Rs. 58,484 |
| Deduction | Rs. 8187.6 |
| Net Salary | Rs. 50,296.24 |
SBI CBO Salary 2021- In Hand Salary
The candidates once selected for the post of SBI CBO will get in hand salary between 50,000 to 52,000 which will include all the perks and excluding the PF etc. The SBI CBO in hand salary 2021 will be calculated by adding the basic salary, Dearness Allowance, HRA, City compensation(if any as per the posting). The in-hand salary excludes the Pf and pension contribution.
SBI CBO Perks and Allowances
Given below are the perks and allowances are given to the SBI CBO:
SBI CBO Salary 2021: Allowances
We are providing you the complete list of allowances that will be enjoyed by a Circle based officer once appointed in this.
| Allowance | Amount |
|---|---|
| Dearness Allowance | 46.9% of the Basic Pay |
| City Compensatory Allowance | 3% – 4% depending on location |
| House Rent Allowance | 7% – 9% depending on the Place of Posting |
| Medical Insurance | 100% covered for employee | 75% covered for dependent family |
| Travelling Allowance | AC 2-tier fare is reimbursed to the employee for official travels |
| Petrol Allowance | INR 1,100 – 1,250 |
| Newspaper Allowance, Entertainment Allowance, Books Allowance, etc. |
Varies based on the post of Cadre |
SBI CBO Salary 2021: Perks
Given below are some of the perks that will be given to the SBI Circle Based Officer:
1. A SBI CBO gets a contribution Pension Scheme/New Pension Scheme.
2. The availability of medical Aid for self (100%) and for family (75%).
3. LTC will be given as well.
4. Home Travel Concession/ Leave Fare Concession will also be given.
5. Concessional interest rates for Housing/Car/Personal Loans will be there.
SBI CBO Salary Promotion and Career Growth
After getting selected for the SBI CBO, Candidates will have the following promotion and career growth options:
- After the joining of the selected candidates for the post of SBI CBO2021, candidates will be on a period of probation for 6 months.
- During the probation period, the CBOs will have to do a continuous assessment for judging their suitability.
- All the candidates who will qualify in their assessment as per the standards determined by the Bank from time to time will be promoted to the service of the Bank in Junior Management Grade Scale-I (JMGS-I).
- Any candidate who will fail to achieve the minimum standards stipulated, his/ her services might get suspended as per the policy of the Bank.
- The candidates who will be selected will be in the general cadre and will be eligible for the promotion policy which is applicable for Bank’s general cadre officers.
- The candidates who will be selected will not be eligible for the inner-circle transfer up to his/ her promotion to SMGS-IV Grade OR 12 years of service, whichever is later.
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FAQs: SBI CBO Salary 2021
Q1. What is the salary of SBI CBO 2021?
Ans. The basic salary of SBI CBO is Rs. 36,000/-.
Q2. What are the perks enjoyed by SBI CBO 2021?
Ans. Given below are the perks enjoyed by SBI CBO 2021: A SBI CBO gets contribution Pension Scheme/New Pension Scheme, The availability of medical Aid for self (100%) and for family (75%), LTC will be given as well, Home Travel Concession/ Leave Fare Concession will also be given, Concessional interest rates for Housing/Car/Personal Loans will be there.
Q3. What is the in-hand salary of SBI CBO 2021?
Ans. The In-hand salary of SBI CBO 2021 is Rs50,000-Rs52,000.
