State Bank of India Mumbai Credit Manager Salaries by 6 Employees (Updated 2025)

12 - 14 years exp.

₹12 Lakhs - ₹27 Lakhs

Avg. annual salary

Monthly In-hand Salary

133% more than the average Credit Manager Salary in Banking Companies for 12 - 14 years of experience

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Last Updated: 1 Mar 2025

Companies similar to State Bank of India for Credit Manager in Mumbai

State Bank of India Credit Manager Salary

12 - 14 years exp. (6 salaries)

₹12 L/yr - ₹27 L/yr

Company name	Avg Annual Salary	Open Jobs
ICICI Bank Credit Manager Salary 0 - 12 years exp. (562 salaries)	₹4 L/yr - ₹17.4 L/yr 48% less
HDFC Bank Credit Manager Salary 0 - 12 years exp. (455 salaries)	₹4 L/yr - ₹15 L/yr 53% less	13 job openings
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Kotak Mahindra Bank Credit Manager Salary 0 - 10 years exp. (231 salaries)	₹3.8 L/yr - ₹13 L/yr 55% less
IDFC FIRST Bank Credit Manager Salary 0 - 10 years exp. (211 salaries)	₹3 L/yr - ₹13 L/yr 59% less
Axis Bank Credit Manager Salary 0 - 12 years exp. (150 salaries)	₹4.7 L/yr - ₹15 L/yr 51% less
Yes Bank Credit Manager Salary 1 - 10 years exp. (69 salaries)	₹4.6 L/yr - ₹14 L/yr 54% less
IndusInd Bank Credit Manager Salary 2 - 12 years exp. (38 salaries)	₹3.6 L/yr - ₹10.9 L/yr 60% less	9 job openings
AU Small Finance Bank Credit Manager Salary 0 - 11 years exp. (35 salaries)	₹4.1 L/yr - ₹10 L/yr 66% less	1 job opening
Bank of Baroda Credit Manager Salary 4 - 12 years exp. (26 salaries)	₹10 L/yr - ₹22 L/yr 9% less
IDBI Bank Credit Manager Salary 3 - 17 years exp. (13 salaries)	₹12 L/yr - ₹28.9 L/yr 12% more
Punjab National Bank Credit Manager Salary 4 - 9 years exp. (13 salaries)	₹10 L/yr - ₹20 L/yr 13% less
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Bank of India Credit Manager Salary 5 - 11 years exp. (8 salaries)	₹9 L/yr - ₹18 L/yr 28% less
Central Bank of India Credit Manager Salary 2 - 7 years exp. (5 salaries)	₹11.4 L/yr - ₹16 L/yr 26% less
Standard Chartered Credit Manager Salary 5 - 12 years exp. (5 salaries)	₹11 L/yr - ₹15 L/yr 30% less
Canara Bank Credit Manager Salary 7 - 12 years exp. (4 salaries)	₹13 L/yr - ₹18 L/yr 8% less
Union Bank of India Credit Manager Salary 6 - 11 years exp. (4 salaries)	₹10 L/yr - ₹19 L/yr 21% less
Shinhan Bank Credit Manager Salary 6 - 11 years exp. (4 salaries)	₹8.5 L/yr - ₹12 L/yr 48% less
Indian Bank Credit Manager Salary 1 - 10 years exp. (3 salaries)	₹11 L/yr - ₹12.8 L/yr 35% less

Credit Manager salary at State Bank of India ranges between ₹12 Lakhs to ₹27 Lakhs per year for employees with experience between 12 years to 14 years. Salary estimates are based on 6 latest salaries received from various employees of State Bank of India.

Experience wise State Bank of India Credit Manager salaries in Mumbai

Last Updated: 1 Mar 2025

Experience	Avg Annual Salary
12 years (3 salaries)	₹12 L/yr - ₹35.8 L/yr
13 years (AmbitionBox Estimate)	₹18.1 L/yr - ₹23.2 L/yr
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14 years (AmbitionBox Estimate)	₹18.4 L/yr - ₹23.5 L/yr

From

Credit Manager

₹

Lakhs/yr

3 - 14 years exp.

Regional Manager

₹

Lakhs/yr

12 - 26 years exp.

Credit Manager

3 - 14 years exp.

Chief Manager

11 - 22 years exp.

66% hike

Assistant General Manager

16 - 32 years exp.

-1% hike

From

View 4 more levels

Credit Manager

3 - 14 years exp.

General Manager, Audit

Salary unavailable

From

View 3 more levels

Credit Manager

3 - 14 years exp.

New Business Manager

Salary unavailable

Disclaimer: Our data limits the visualization of this career path at this point. However, other roles and opportunities might be available within the organization beyond what is shown here.

Similar Designation salaries in State Bank of India

Chief Manager Salary

(112 salaries)

₹16.14 L/yr - ₹60 L/yr

Deputy Manager Salary

(95 salaries)

₹7.15 L/yr - ₹28 L/yr

Branch Manager Salary

(35 salaries)

₹12 L/yr - ₹37 L/yr

Credit Analyst Salary

(25 salaries)

₹10.25 L/yr - ₹30 L/yr

Credit Officer Salary

(4 salaries)

₹8 L/yr - ₹17 L/yr

Top skills at State Bank of India for Credit Manager

Ca Credit Appraisal ICWA Credit Risk CFA Credit Rating Banking Credit Analysis

Salary related reviews for State Bank of India

2.0

Rated by 2 employees for salary & benefits

Deputy Manager in Chennai

Full Time

Finance & Accounting Department

4.0

• posted on 20 Mar 2025

4.0

for Salary and Benefits

Likes

...ly banker to every Indian. One gain experience in handling all kind of customer. Good Salary package compared to any other banking and financial institutions. Respect and status is incomparable. Tough but worth for career oriented candidates.

Salary - Good

+4 more

Dislikes

Challenges before a women employee and men is not the same in our society. Not every family support working women. To spread their wings and fulfill their dreams they faces many many hurdles. We cannot have rigid and common transfer policy for everyone. I have seen many women employee resigning due to this reason including me. Having work life balance is difficult for officer particularly.

Work-life balance - Bad

Deputy Manager in Bokaro

Full Time

Finance & Accounting Department

1.0

• posted on 19 Jan 2025

1.0

for Salary and Benefits

Likes

Fixed salary

Job security - Excellent

Dislikes

Horrible work culture. Too much internal politics. People who don't work re appraised well and people who work hard are appraised badly, and have to bear lots of criticism. Seniors don't have any idea about the reality of ground level and force unethical practices for personal gains. People who oppose this are publically humiliated and instructed to resign. Seniors have no working knowledge of how the softwares work, and if some do do, then they refused to share their knowledge with others. It is the worst workplace I have ever worked in. I would not wish this kind of working environment to my worst enemy.

Salary - Bad

+5 more

Deputy Manager in Mumbai

Full Time

Finance & Accounting Department

2.0

• posted on 15 Nov 2024

4.0

for Salary and Benefits

Likes

Nothing to like really. You just get stuck in doing monotonous job

Salary - Good

+1 more

Dislikes

...erable. Asking to not come on a public holiday leads to targetting by your boss. No compensation for working on holidays. One has to work for 10-12 hours Monday to Saturday. You are asked to do work outside bank guidelines and no risk allowance/security assurance is given.

Skill development - Bad

+3 more

Deputy Manager in Mumbai

Full Time

Finance & Accounting Department

3.0

• posted on 18 Sep 2024

4.0

for Salary and Benefits

Likes

It is a reputed organisation and the largest public sector bank in India. The salary and perks are better as compared to other PSBs. There is job security.

Salary - Good

+2 more

Dislikes

Long sitting hours, lot of workload, seniors threatening to transfer/change posting, stress and pressure of completing targets, working on weekends and holidays. Huge customer base means a lot of customer dealing.

Company culture - Poor

+1 more

Deputy Manager in New Delhi

Full Time

Other Department

3.0

• posted on 28 Jul 2024

3.0

for Salary and Benefits

Likes

Salary and little bit of recognition

Job security - Excellent

Dislikes

Bad culture Politics Transfer postings outside Which disturbs your personal life Late working Shortage of staff puts more burden on existing employees Poorest work life balance

Work satisfaction - Bad

+2 more

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Salary Discussions, Hike & Promotions

My current CTC is ₹7,80,660, which includes a ₹1,32,000 night shift allowance, and my monthly take-home pay is ₹72,133. I have received a new job offer with a CTC of ₹10,67,231, a monthly take-home pay of ₹83,333, and 192 restricted stock units (each valued at $60, vesting 25% after one year and quarterly thereafter). This new position is closer to my home and does not involve night shifts. The offer letter is attached. I have also requested a ₹95,000 monthly salary increase and am awaiting their response. Could someone advise me on whether I should accept the new offer or remain in my current role?

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State Bank of India Credit Manager Salary FAQs

What is the salary of Credit Manager at State Bank of India in Mumbai?

The average salary of a Credit Manager at State Bank of India in Mumbai typically ranges from ₹12.0 Lakhs to ₹27.0 Lakhs per year, depending on experience (from 12 years to 14 years).

The top 10% of Credit Manager in Mumbai at State Bank of India earn more than ₹26.1 Lakhs per year, and the top 1% earn over ₹27.0 Lakhs per year. Credit Manager Salaries at State Bank of India can be higher or lower depending on factors such as the specific team, level of experience, and additional benefits like bonuses and stock options.

These estimates are based on salary data submitted by 6 State Bank of India employees in India.

What is the estimated take home salary of a Credit Manager at State Bank of India in Mumbai?

The estimated take-home salary of a Credit Manager at State Bank of India in Mumbai typically ranges from ₹1,26,174 to ₹1,30,253 per month. This is based on the average salary range of ₹12.0 Lakhs to ₹27.0 Lakhs per year for employees with experience ranging from 12 years to 14 years.The take-home salary is calculated after accounting for standard deductions such as taxes, provident fund (PF), and insurance. Salary estimates are based on 6 salaries received from various employees of State Bank of India. Check how we calculate in-hand salary with our in-hand salary calculator.

What are the key skills required to be a Credit Manager at State Bank of India in Mumbai?

To be a Credit Manager at State Bank of India in Mumbai, the key skills required include:

- Ca
- Credit Appraisal
- ICWA
- Credit Risk
- CFA

These skills are highly valued at State Bank of India and are crucial for successful performance in a Software Engineering role.

Which companies offer higher salaries than State Bank of India for Credit Manager in India?

IDBI Bank

₹12.0 Lakhs to ₹28.9 Lakhs per year

These companies are known for offering competitive compensation packages that can exceed the salary offered by State Bank of India, depending on the role and experience level.

What is the salary of a Credit Manager in companies similar to State Bank of India in Mumbai?

The salary of a Credit Manager at companies similar to State Bank of India in Mumbai varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Canara Bank	₹13.0 Lakhs to ₹18.0 Lakhs per year
Bank of Baroda	₹10.0 Lakhs to ₹22.0 Lakhs per year
Punjab National Bank	₹10.0 Lakhs to ₹20.0 Lakhs per year
Union Bank of India	₹10.0 Lakhs to ₹19.0 Lakhs per year
Central Bank of India	₹11.4 Lakhs to ₹16.0 Lakhs per year

These companies, which operate in similar sectors, offer competitive salaries, although the range can vary based on the company and individual experience levels.

How the salary growth look like for a Credit Manager at State Bank of India in Mumbai?

The salary growth for a Credit Manager at State Bank of India in Mumbai depends on factors such as experience, performance, and promotions. On average, a Credit Manager in Mumbai can expect the following growth trajectory at State Bank of India:

Experience	Average Salary Range
12 years	₹12.0 Lakhs to ₹35.8 Lakhs per year
13 years	₹18.1 Lakhs to ₹23.2 Lakhs per year
14 years	₹18.4 Lakhs to ₹23.5 Lakhs per year

and so on.

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State Bank of India Credit Manager Salaries in Mumbai

State Bank of India Credit Manager salary in Mumbai ranges between ₹12 Lakhs to ₹27 Lakhs with an average annual salary of ₹. Salary estimates are based on 6 State Bank of India latest salaries received from various employees of State Bank of India.