SBI SCO Salary 2023: In-hand salary, job description, allowances and other benefits!

SBI SCO Salary: The State Bank of India conducts SBI SCO Exam to recruit eligible and interested candidates for the post os Specialist Cadre Officer. All those aspiring to appear for this exam must know all the details related to the exam and post. SBI SCO salary is a very handsome amount. The basic pay amounts to to Rs.36,000 initially and is a good opportunity for candidates looking to learn and grow within SBI. There are various allowances and benefits that SCO receive. Read this article to know all details about SBI SCO salary and other information. If you are preparing for competitive exams and are looking for expert guidance, you can check out our General Knowledge Free Ebook Download Now.

Source: https://timesofindia.indiatimes.com/

 

SBI SCO Salary 

Candidates who are recruited as SBI SCO will be placed under  Assisiatnt Management Grade Scale 1. The initial basic pay of the SBI  Specialist Cadre Officer has been incremented to Rs. 36,000/- on the scale of 36000-1490/7-46430-1740/2- 49910-1990/7-63840 applicable to Assistant Management Grade Scale-I. SBI SCO Salary sees an increment of 1 grade for every one year of service.

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SBI Specialist Cadre Officer Salary 2023
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
Gross Salary	Rs. 58,484
Deduction	Rs. 8187.6
Net Salary	Rs. 50,296.24

The net salary of SBI SCO  officers amounts to Rs 50,296.24.
Check out IBPS RRB PO Salary

SBI SCO In-hand Salary 2023

SBI SCO in-hand salary includes basic pay along with all the allowances. Candidates are also given an increment in each year of service. The starting basic pay is Rs. 36,000. The annual SBI SCO Salary lies within the range of Rs. 8.20 Lakhs (minimum) to Rs. 13.08 lakhs (maximum) per annum.

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SBI SCO  Salary: Allowances and Benefits

There are various allowances and benefits that SBI SCO enjoys along with a handsome amount of salary. The details of SBI SCO allowances are as follows:

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 Cadre

Along with these allowances, there are various benefits such as :

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

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SBI SCO Career Growth and Promotion

 This is a contractual post, which may get regularised or inducted into SBI after the expiry of the contractual period.

To know more read here.

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SBI SCO Salary FAQs

Q. What is the initial basic pay of SBI SCO?

A. The initial basic pay of SBI SCO is Rs. 36,000.

Q. What is the maximum basic pay that SBI SCO can receive?

A. SBI SCO can receive a maximum basic pay of Rs. 63840.

Q. Is there any probation period for SBI SCO?

A. Yes there is a probation period for SBI SCO.

Q. Does SBI SCO salary vary as per the location?

A. Yes, SBI SCO salary varies as per the location because of differences in HRA.

Q. What is the total monthly salary of SBI SCO?

A. The total monthly salary of SBI SCO is approximately Rs. 50,296.24.