SBI ATM Franchise: If you want to start business at low cost, then there is no better option than ATM Franchise. Read the complete details of what to do for the franchisee.
SBI ATM Franchise: Chance, Chance, Chance… If you want to start earning from home, then the country’s largest bank is giving you this opportunity. Money can be earned by joining SBI. This is a franchise business model. If you are looking for a way to earn, then you can earn by installing an ATM at your place. You can earn big money by taking Bank ATM Franchise of State Bank of India ATM (SBI ATM). One can earn around 45 to 90 thousand rupees every month.
Bank does not charge ATM. Other companies do the work of installing it. These companies are given contracts for ATM installation on behalf of banks. However, you have to apply for this with the bank itself. There are certain conditions and verification of the bank. After this you get an ATM Franchise according to the franchise model.
How to Apply for ATM Franchise?
Online application can be made for SBI ATM Franchisee from the official website of the companies. Companies that install ATMs are different. Most of these contracts are with Indicash, Muthoot ATM and India One ATM.
Details can be seen from here
- Tata Indicash – www.indicash.co.in
- Muthoot ATM – www.muthootatm.com/suggest-atm.htmlIndia One ATM – india1atm.in/rent-your-space
SBI ATM Franchise Requirements
- There should be a space of 50-80 square feet.
- The distance from other ATMs should be 100 meters.
- The space should be on the ground floor and with good visibility.
- There should be 24 hours power supply. 1 kW electricity connection required.
- The ATM should have a capacity of about 300 transactions per day.
- The ATM space should have a concrete roof.
- No Objection Certificate (NOC) from the society or authority is necessary for installing V-sat.
Which documents are required?
1. ID Proof – Aadhaar Card , Pan Card , Voter Card
2. Address Proof – Ration Card, Electricity Bill
3. Bank Account and Passbook
4. Photograph, E-mail ID, Phone Number
5. GST Number
6. Financial Documents
How much will you have to invest?
You can apply for SBI ATM Franchise from Indiacash website. It is the largest and oldest company in the country. A security deposit of 2 lakhs has to be kept for SBI ATM. It is fully refundable. Apart from this, working capital of Rs 3 lakh is required. The total investment will be up to Rs 5 lakh.
What is the earning formula?
In SBI ATM Franchisee, Rs.8 is available on every cash transaction and Rs.2 on non-cash transaction. The return on investment is 33-50% on an annual basis. If there are 250 transactions per day, in which 65 percent are cash transactions and 35 percent non-cash transactions, then the monthly income will be close to 45 thousand rupees. At the same time, a commission of about 88-90 thousand will be made on 500 transactions daily.
