highlights
The SBI ATM franchisee requires an investment of around £5,000.
An area of 50-80 square meters should be provided for the installation of an ATM.
You can earn 45,000 to 90,000 rupees every month with this business.
New Delhi. You often need to withdraw money from ATMs. This machine is not only useful for extracting notes, but also a great source of income. You may be surprised to learn that this great business idea can earn you up to 90,000 rupees per month sitting at home.
The country’s most state-owned bank, SBI, offers a great opportunity to make money from ATMs.
State Bank of India ATM franchisee (SBI ATM franchise business) By giving people the opportunity to sit at home and make money. However, there are some terms and conditions for this deal, noting that you can apply. Let us know the full process and information on the required documents…
low cost profitable business
The SBI ATM franchise offering is a cost-effective investment. You can start your own business with your location. Through this business you can earn between ₹45,000 and ₹90,000 every month. However, this happens when 300 to 500 transactions are made daily from the ATM.
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The SBI ATM franchisee requires an investment of approximately £5,000 of which £2,000 is the recoverable amount retained by SBI with the remaining £3,000 being working capital. If you stop operating the ATM for any reason before the end of the contract, SBI will only refund ₹1 lakh.
SBI Franchise offers ₹8 per cash transaction and ₹2 per non-cash transaction. Explain that checking customer balances, getting mini statements, etc. are all part of cashless transactions.
SBI ATM Franchise Terms and Conditions
- The commercial space for ATMs should be 50 to 80 square meters.
- There should not be another bank’s ATM within 100 meters of your ATM.
- The applicant must guarantee at least 300 transactions daily.
- A strong concrete roof is required for ATM security.
- It is mandatory to obtain a NOC, ie a certificate of non-objection, from the authorities or society for the installation of ATM V-SAT.
KYC documents required for application
Mandatory KYC verification must be completed in order to receive the SBI ATM franchise. This includes documents like PAN, Aadhaar or Voter Card as proof of ID, utility bill, ration card and bank passbook as proof of address, 4 passport photos, valid email ID, registered phone number, GST registration and GST number etc. Apart from that, financial documents like balance sheet are also taken , Profit and Loss Account for the last 3 years showing your assets for the company.
How do I apply for an ATM franchise?
Applying for the SBI ATM franchise offer can be done online at the bank’s official website. While the SBI ATM installation request is performed by SBI commissioned companies like Tata
Indicash, India One and Muthoot do. After applying, you will be contacted by the SBI ATM Franchise team and will need to fill out an application form sent to SBI.
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Tags: ATMs, Tips for making money, New business ideas, SBI ATM card, SBI Bank
FIRST RELEASED : February 18, 2023 at 12:03 p.m. IST
