Indian Bank SO Salary

Indian Bank SO Salary

One of the driving forces we get to prepare for any exam is how lucrative the salary is. Indian Bank promises a bright future with work life balance to its employees. The salary that an Indian Bank offers to its officers is unmeasurable. However, the Indian Bank SO salary will vary as per the Scale.

Detailed information about Indain Bank SO Credit Officer salary for various Scales has been provided in the table below. This is a pan India job and therefore, you can be posted anywhere in India. 

ScalePay Scale
Scale 2 48170 1740/1 49910 1990/10 69810
Scale 3 63840 1990/5 73790 2220/2 78230
Scale 4 76010 2220/4 84890 2500/4 89890

Indian Bank SO Probation period

Candidates selected as Scale 1 officer in Indian Bank will be on probation for a period of 2 years from the date of joining the bank. Candidates selected in Scale 2, 3 and 4 posts will have to be on probation for a period of one year from the date of joining.  The confirmation of the selected candidates in the Bank's service will be decided as per the Indian Bank Officers Service Regulations, 1979.  

Indian Bank SO Financial cum Surety Bond

Indian Bank requires you to sign a 'Financial cum Surety Bond' to serve the Bank for a minimum of two years. In case you decide to leave the bank before the mentioned time, you will have to pay the Bond amount of Rs. 2 Lakhs (JMGS Scale-1) and Rs. 3 Lakhs (MMG Scale- 2 and above) along with salary of the un-served notice period and the cost incurred by the Bank for imparting training and any other expenses that the Bank has incurred on your behalf. Even before leaving the service you have to serve the notice period. The notice period shall be 3 months of active service. 

Job Profile (Indian Bank Credit Officer)

You have to perform specific duties as per the guidelines of the bank after being selected as a Indian Bank Credit Officer. Some of the functions that a Indian Bank Credit Officer performs have been given below.

  • A Indian Bank Credit Officer manages relations with collection agencies and credit reporting agencies.
  • Responsible to maintain relations with credit insurance providers.
  • Manage relations with the sales department
  • He/she maintains a department organizational structure sufficient to meet all goals and objectives.
  • He/She is also responsible to motivate the credit and collections staff
  • Measures department performance with appropriate metrics
  • He/She provides training to the credit staff in order to perform better. 

Indian Bank SO Credit Officer - Free Mock Tests

Indian Bank SO (Manager) Credit Officer Mock Test 2

Indian Bank SO (Manager) Credit Officer Mock Test 2

  • 120 Minutes
  • 100 Questions
  • 100 Marks
Indian Bank SO (Manager) Credit Officer Mock Test 1

Indian Bank SO (Manager) Credit Officer Mock Test 1

  • 120 Minutes
  • 100 Questions
  • 100 Marks

FAQs

The Indian Bank Credit Officer pay scale is 48170- 1740/1- 49910-1990/10- 69810 The in hand salary of Indian Bank Credit Officer is 48170 with allowances.
Yes, you have to undergo a probation of 2 years in Indian Bank after the date of joining.
Yes, after being selected as a Indian Bank Credit Officer, a candidate has to execute a service bond of Rs 2 Lakh for 2 years.
Here are few resonbilites that a credit officer has to perform
  • Indian Bank Credit Officer manages relations with collection agencies and credit reporting agencies.
  • Responsible to maintain relations with credit insurance providers.
  • Manage relations with the sales department
The pay scale of an Indian Bank SO Credit Officer varies according to the Scale in which they are appointed. You can refer to the pay scale of an Indian Bank Credit Officer in Scale 2, 3 and 4 above.
Yes, you have to undergo a probation of 2 years in Indian Bank after the date of joining.
Yes, Indian Bank requires you to sign a 'Financial cum Surety Bond' to serve the Bank for a minimum of two years. In case you decide to leave the bank before the mentioned time, you will have to pay the Bond amount of Rs. 2 Lakhs (JMGS Scale-1) and Rs. 3 Lakhs (MMG Scale- 2 and above) along with salary of the un-served notice period and the cost incurred by the Bank for imparting training and any other expenses that the Bank has incurred on your behalf.
Here are few responsibilities that a Credit Officer has to perform:
  • Indian Bank Credit Officer manages relations with collection agencies and credit reporting agencies.
  • Responsible for maintaining relations with credit insurance providers.
  • Manage relations with the sales department.

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