SBI ATM franchise: Dealings in business are never straightforward and take a lot of time and effort. But what if you could earn up to Rs 60,000–70,000 per month with just a little bit of one-time work and a refundable investment of about Rs 5 lakh? If you’re curious about what kind of business this is, let us make it clear that we’re talking about the SBI ATM franchise.
When you see an SBI ATM, your initial thought must be that the bank may have installed it. But that’s not the case. Please allow us to clarify that the companies that install ATMs are contractors that these banks hire, and they subsequently complete the ATM installation at various places.
Tata Indicash, Muthoot ATM, and India One ATM have agreements with the State Bank of India to install ATMs in India. You can also do so via the firms’ official websites if you want to submit an application for SBI’s ATM franchise. Because many scams deceive people under the pretence of an ATM franchise, exercise caution and only submit an application through the company’s official website.
Rules for applying an SBI ATM franchise:
You need a space of between 50 and 80 square feet to put up an ATM cabin. It should be located where people can easily see it and at least 100 metres away from other ATMs. Continuous power supply and a connection to at least 1kW of energy are also necessary. The cabin should be a long-lasting structure with masonry walls and a concrete roof. If you reside in a society, you will need to obtain a no-objection certificate from the society or authorities in order to install V-SAT.
Documents required for SBI
- Aadhaar Card, Pan Card, Voter Card
- Ration card, electricity bill
- Bank account and pass book
- Photograph, E-mail ID, Phone No.
- GST number
- Financial documents required by the company
Revenue from SBI ATM franchises
To be accepted for the SBI ATM franchise, you must present a security deposit of Rs. 2 lakh and working capital of Rs. 3 lakh. There is a total investment of Rs 5 lakh, which varies from company to company. After the ATM is installed and people start using it, you will be paid Rs. 8 for each cash transaction and Rs. 2 for non-cash operations like balance checks and fund transfers.