Business Idea: If you also want to start a new business, then this news is for you. Actually SBI Bank is giving a chance to start business with it. Under which you can earn 90 thousand every month.
You must have often heard about the business related to bank ATM. It is considered a good business giving regular income. Through this, you can earn from 45 to 90 thousand rupees every month sitting at home. Many banks offer franchisees for ATMs. In this episode, the country’s largest government bank SBI is giving a big opportunity to earn through ATM.
State Bank of India is giving people an opportunity to earn sitting at home by giving SBI ATM Franchise Business. However, there are some terms and conditions for this business, keeping in mind that you can apply. Let us know the complete process and information related to the necessary documents…
Low cost profitable business
SBI ATM franchise offer is a low cost investment. You can start your own business using your location. Through this business, you can earn from ₹ 45,000 to ₹ 90,000 per month. However, this happens when there will be 300 to 500 transactions daily from the ATM.
SBI ATM franchisee requires an investment of around ₹5 lakh, out of which ₹2 lakh is the refundable amount retained by SBI, while the remaining ₹3 lakh is the working capital. If you decide to stop operating the ATM for any reason before the end of the contract, SBI refunds only ₹1 lakh.
SBI Franchise offers ₹8 per transaction in cash and ₹2 per non-cash transaction. Explain that checking account balance by customers, getting mini-statement etc. come under non-cash transactions.
Terms and Conditions related to SBI ATM Franchise-
- Commercial space for ATM should be 50 to 80 square feet.
- There should not be any other bank’s ATM within 100 meters from your ATM location.
- The applicant will have to guarantee at least 300 or more transactions daily.
- It is necessary to have a strong concrete roof for ATM security.
- For ATM V-SAT installation, it is mandatory to obtain NOC i.e. No Objection Certificate from the authorities or society.
KYC documents required for applying-
Mandatory KYC verification has to be completed for taking SBI ATM franchise. These include documents such as PAN, Aadhaar or Voter Card for ID proof, electricity bill, ration card and bank passbook as address proof, 4 passport size photographs, valid email ID, registered phone number, GST registration and GST number etc. Apart from this, financial documents like balance sheet, profit and loss account for the last 3 years are also required, which proves your net worth for the business.
How to apply for ATM Franchise?
Applying for the SBI ATM franchise offer can be done online at the official website of the bank. Whereas, SBI ATM installation requests are done by SBI appointed companies such as Tata Indicash, India One and Muthoot. After applying, you will be contacted by the SBI ATM franchise team and you will have to fill an application form to SBI.