Business is never easy, and it necessitates a great deal of hard work and effort. But what if you could earn Rs 60,000 to 70,000 per month with only a few hours of work and a refundable investment of around Rs 5 lakh? If you’re wondering what kind of business we’re talking about, consider the SBI ATM franchise.
When you see an SBI ATM, you must assume that the bank installed it. However, this is not the case. Let us explain that the companies that install ATMs are contractors who are hired by these banks to install ATMs in various locations.
In the case of the State Bank of India, the contract for establishing an ATM in India is held by Tata Indicash, Muthoot ATM, and India One ATM. So, if you want to take SBI’s ATM franchise, you must apply through their official websites. Because many frauds occur by deceiving people in the name of an ATM franchise, be cautious and apply only through the company’s official website.
Conditions for taking SBI ATM Franchise
To set up an ATM cabin, you’ll need at least 50-80 square feet. It should be at least 100 metres away from other ATMs, and it should be in an easily visible location. Power should be available 24 hours a day, and a minimum 1kW electricity connection is required. The structure should be permanent, with brick walls and a concrete roof. If you live in a society, you will need to obtain a certificate of no objection from the society or authority before installing V-SAT.
Documents Required for SBI ATM Franchise
* ID Proof – Aadhaar Card, Pan Card, Voter Card
* Address Proof – Ration Card, Electricity Bill
* Bank Account and Passbook
* Photograph, E-mail ID, Phone No.
* Other Documents/Forms as required by the company
* GST Number
* Financial Documents required by the company
Earning from SBI ATM Franchise
When you apply for and are approved for an SBI ATM franchise, you will be required to pay a security deposit of Rs 2 lakh and a working capital of Rs 3 lakh. The total
investment is Rs 5 lakh, which may vary from company to company. When the ATM is installed and people begin using it, you will receive Rs 8 for every cash transaction and Rs 2 for non-cash transactions such as balance checks and fund transfers.
