SBI Business Scheme: Running a business is never easy and it takes a lot of hard work and effort. But what if you can earn Rs 60,000 to 70,000 per month with a one-time job and a returnable investment of around Rs 5 lakh? If you are wondering what kind of business this is, then let us tell you that we are talking about SBI ATM franchise.
Whenever you see an SBI ATM somewhere, you must be thinking that it might have been installed by a bank. But not so. Let us tell you that ATM installation companies are contractors backed by banks and they install ATMs at various locations.
In the case of State Bank of India, the contract for setting up ATMs in India is with Tata Indicash, Muthoot ATM and India One ATM. So if you want to get SBI ATM franchise then you have to apply to these companies through their official websites. As many scams also happen by scamming people in the name of ATM franchise, be careful and only apply through the company’s official website.
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SBI ATM Franchise Conditions
You should have at least 50 to 80 square feet of space to install an ATM booth. Its distance from other ATMs should be at least 100 meters and its location should be easily visible to the public. There should be 24 hours electricity and minimum 1 kW electrical connection is also mandatory. The cabin should be a permanent structure with brick walls and a concrete roof. If you live in a community, you will need a no-objection certificate from the community or authority to install V-SAT.
Documents Required for SBI ATM Franchise
* ID Proof – Aadhaar Card, Pan Card, Voter Card
* Address proof – Ration card, electricity
* Bank account and passbook
* Photo, Email ID, Phone Number.
* Other documents/forms required by the company
* GST number
* Financial documents required by the company
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Profit from SBI ATM Franchise
When you apply and get approved for an SBI ATM franchise, you will be required to pay Rs 2 lakh as security deposit and Rs 3 lakh as working capital. The total amount of investment is Rs 5 crore and the amount may vary from company to company. Once the ATM is installed and people start making transactions from the machine, you will get Rs 8 for every cash transaction and Rs 2 for non-cash transaction like balance check and money transfer.