Union Bank of India Local Bank Officer Salary 2024, Basic Pay, Job Profile

The Union Bank LBO Notification 2024 PDF has been published, announcing the recruitment of 1,500 Local Bank Officer (LBO) positions. The selection process for these roles includes a Written Exam, Interview, Local Language Test, Document Verification, and Medical Examination.

Those who successfully pass these assessments will be appointed as Local Bank Officers, starting with a monthly basic salary of Rs. 48,480/-. For further information regarding the salary, allowances, and other aspects of the job profile, candidates can refer to the article.

Union Bank of India Local Bank Officer Salary 2024 Overview

UBI Local Bank Officer Salary Slip

All selected candidates will receive a salary within the pay scale of 48480-2000/7-62480-2340/2-67160-2680/7-85920, as outlined in the Union Bank Local Bank Recruitment 2024 Notification PDF. Along with this salary, candidates will also benefit from various allowances and perks. There will be a probationary period of two years starting from the date of joining the bank.

Upon completion of this period, candidates will receive a detailed salary slip that outlines their total earnings, including basic pay, allowances, and any deductions. The total Union Bank LBO salary amount will vary based on the specific allowances applicable, but it is expected to provide a competitive compensation package that reflects the responsibilities of the Local Bank Officer role.

LBO Allowances & Deductions

In addition to the Union LBO Salary for 2024, newly appointed candidates will have the opportunity to enjoy a comprehensive range of benefits that enhance their overall compensation package. This includes special allowances designed to support their specific needs, dearness allowances to help offset the cost of living, and various other perks that align with the bank’s current policies and regulations. roles within the organization

• Dearness Allowance
• House Rent Allowance
• Paid holidays
• Increments and incentives
• Transport Allowance
• Health insurance
• Medical facilities
• Leave and travel concession
• Bonus

Union Bank Indemnity Bond

Candidates selected for the Local Bank Officer roles at different branches of Union Bank will be required to sign a Service Indemnity Bond, committing to serve the bank for a minimum duration of three years. Should any candidate choose to leave the bank before fulfilling this commitment, they will be obligated to pay a penalty of Rs. 2,00,000/- (Two Lakh Rupees), in addition to any applicable taxes as mandated by government regulations.

Union Bank Local Officer Probation Period

Candidates who are selected will enter a probationary period of two years of active service starting from their date of joining the bank. Upon successful completion of this probation and meeting the bank’s performance standards, their employment will be confirmed. This confirmation signifies that they will become permanent employees of Union Bank of India, enjoying all the benefits and responsibilities that come with this status.

Local Bank Officer Job Profile & Career Growth

Selected candidates for the Indian Bank Local Bank Officer position can expect career advancement in accordance with the bank’s promotion policy for General Banking Officers. They will have the opportunity to progress to higher grades or scales within the bank, provided they meet the established criteria for promotion.

• Deliver outstanding customer service to both individuals and businesses.
• Support clients with banking transactions, account management, and inquiries, ensuring a high standard of service.
• Assess and process loan applications, including conducting credit evaluations and approvals.
• Promote the bank’s products and services to meet sales goals and enhance customer relationships.
• Offer guidance to customers regarding investment opportunities.
• Oversee the opening, closing, and maintenance of accounts, ensuring accurate handling of customer documentation and adherence to compliance standards.