If you want to start business with State Bank of India then you can take ATM Franchisee of State Bank of India. No bank puts its own ATM and puts it in different companies, which gets contracts from the bank. And he installs ATM according to his own.
Only Tata Indicash, India One ATM and Muthoot ATM have got contracts for ATMs in India. You can apply for your ATM by visiting the official website of all these companies. Tata Indicash is the company with the highest number of ATMs among them. In which to take a franchise, you have to deposit Rs 2 lakh as a deposit and with that you will have to deposit 3 lakh as working capital. In total you have to invest 5 lakhs.
You will get 8 rupees for every cash transaction done in ATM and you get 2 rupees for every non cash transaction. Overall, you get an annual return of 33 to 50% on your investment. By doing this, your ATM earnings will be free for about 3-4 years.
To make an ATM you need to have these basic things
- There should be a space of 50-80 square feet.
- This space should be on the ground floor and well visible.
- 24 hours power supply and 1 kW power connection is also required.
- The ATM should have a concrete roof.
- For ATM setup, there should be NOC from the authority of the society or whatever the place is.
- Must have a capacity of 300 transactions per day.
