SBI Tips: Start a business with SBI, and earn up to Rs 90 thousand per month, these documents will be required..
You must have often heard about the business related to bank ATMs. This is considered a good business that gives regular income. Through this, you can earn Rs 45 to 90 thousand every month sitting at home. Many banks offer franchises for ATMs. In this series, the country's most government bank SBI is giving a big opportunity to earn through ATM.
State Bank of India is giving people an opportunity to earn money sitting at home by giving ATM Franchise (SBI ATM Franchise Business). However, there are some terms and conditions for this business, keep in mind that you can apply. Let us know its complete process and information related to the necessary documents…
Low-cost profitable business-
SBI ATM franchise offer is a low-cost investment. Using your space you can start your own business. Through this business, you can earn ₹ 45,000 to ₹ 90,000 every month. However, this happens when there will be 300 to 500 transactions daily from the ATM.
SBI ATM franchise requires an investment of approximately ₹5 lakh, of which ₹2 lakh is the refundable amount maintained by SBI, while the remaining ₹3 lakh is 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 for non-cash transactions. Let us tell you that checking account balances by customers, getting mini-statements, etc. come under non-cash transactions.
Terms and conditions related to SBI ATM franchise-
The commercial space for ATMs should be 50 to 80 square feet.
There should not be any other bank's ATM within 100 meters of 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 to apply-
To take the SBI ATM franchise, mandatory KYC verification has to be completed. These include documents like 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, GST number, etc. Apart from this, financial documents like Balance Sheet, and Profit and Loss Account for the last 3 years are also required which proves your net worth for the business.
How to apply for an ATM franchise?
Application for SBI ATM Franchise Offer can be made online on the official website of the bank. Whereas, SBI ATM installation requests are made by SBI-appointed companies like Tata
Indicash, India One, and Muthoot do it. After applying, the SBI ATM franchise team contacts you and you have to fill out an application form to SBI.
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