Business dealings are never simple and demand a lot of time and effort. What if, however, you could make as much as Rs 60,000–70,000 per month with only a small amount of one-time labour and a refundable investment of roughly Rs 5 lakh? Let us clarify that we are speaking about the SBI ATM franchise if you are wondering what type of business this is.
Your first thought must be that the bank might have installed the SBI ATM once you see one. That's not the case, though. Let us explain that the businesses who install ATMs are contractors that these banks hire, and they subsequently complete the ATM installation at various locations.
The State Bank of India has a contract with Tata Indicash, Muthoot ATM, and India One ATM to install an ATM in India. If you wish to apply for SBI's ATM franchise, you must do so through the companies' official websites. Be cautious and only submit an application through the company's official website because many frauds also take place by misleading consumers under the guise of an ATM franchise.
Terms for applying for an SBI ATM Franchise
To set up an ATM cabin, you should have an area that is between 50 and 80 square feet. It should be at least 100 metres away from other ATMs, and it should be placed where people can see it readily. Power should be available continuously, and at least 1kW electricity connection is also required. The cabin should be a permanent building with concrete roofing and masonry walls. You will need to obtain a no-objection certificate from the society or authorities if you live in a society 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
SBI ATM franchise revenue
You must provide a security deposit of Rs. 2 lakh and working capital of Rs. 3 lakh in order to be approved for the SBI ATM franchise. The entire investment, which varies from firm to company, is Rs 5 lakh. You will receive Rs. 8 for every cash transaction after the ATM is deployed and users begin using it, and Rs. 2 for non-cash transactions like balance checks and fund transfers.
