SBI ATM Plan: You have probably heard a lot about the bank ATM industry. It’s regarded as a solid firm that generates consistent revenue. You can use this to make between 45 and 90 thousand rupees each month while working from home. ATM franchises are available from several banks. The biggest government bank in the nation, SBI, is offering a significant possibility to earn through ATMs in this episode.
Introduction to SBI ATM Franchise Opportunity
With the SBI ATM Franchise Business, State Bank of India is providing consumers with a chance to make money while they sit at home. But keep in mind that you can apply, and there are some rules and restrictions for this business. Tell us the entire procedure and details about the required paperwork.
Affordable Franchise Opportunity
The franchising opportunity for SBI ATMs is an inexpensive one. You can use your location to launch your own business. You can make anywhere from ₹ 45,000 to ₹ 90,000 a month with this company. This does, however, occur when there are 300–500 ATM transactions each day.
An estimated ₹5 lakh is needed from the SBI ATM franchisee; ₹2 lakh is the refundable sum that SBI keeps, and the remaining ₹3 lakh is working capital. SBI only reimburses ₹1 lakh if you choose to cease using the ATM before the end of the contract for whatever reason.
SBI Franchise charges ₹2 for non-cash transactions and ₹8 for cash transactions. Describe how non-cash transactions include things like customers checking their account balances and receiving mini-statements.
Conditions pertaining to the SBI ATM Franchise
- A commercial ATM should have between 50 and 80 square feet of area.
- Within a hundred metres of your ATM site, there shouldn’t be an ATM operated by another bank.
- The candidate must pledge to complete at least 300 transactions every day.
- For ATM security, a sturdy concrete roof is required.
- It is necessary to obtain a No Objection Certificate (NOC) from the government or society in order to install ATM V-SAT.
KYC Verification Process
Obtaining an SBI ATM franchise requires completing the required KYC verification. These consist of identity-proving documents like PAN, Aadhaar, or voter cards; proof of address documents like energy bills, ration cards, and bank passbooks; four passport-sized photos; a working email address; a registered phone number; and registration and GST numbers, among others. In addition, financial records that demonstrate your net worth to the company, such as balance sheets and profit and loss accounts for the previous three years, are needed.
Online Application Process
You can apply online at the bank’s official website for the SBI ATM franchise opportunity. On the other hand, SBI designated businesses like Tata Indicash, India One, and Muthoot handle requests for SBI ATM installations. Following your application, the SBI ATM franchise team will get in touch with you and ask you to complete an SBI application.
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