ATM Franchise Business: Any business that you are about to start can seem daunting. Can be complex and may require more effort. But what if someone tells you that you can actually earn Rs 60,000-70,000 per month with a small investment of around Rs 5 lakh (which is refundable)? Let us take you through the ATM franchise process.
Bank-branded ATMs, such as SBI, ICICI, HDFC, PNB and UBI, are not all banks that install ATMs themselves. You must first understand that SBI ATM is not set up by the bank. ATM installation businesses are contractors who are hired by these banks and they later complete the ATM installation at various locations.
How to get SBI ATM installed?
State Bank of India has tied up with Tata Indicash, Muthoot ATM and India One ATM to set up ATMs in India. If you want to apply for SBI’s ATM franchise, you will have to complete the process through the official websites of these companies. Remember to submit the application only through the official website of the company, as many frauds are also done by misleading the consumers in the guise of ATM franchise.
Application Conditions
You must have an area of 50 to 80 square feet to set up the ATM cabin. It should be at least 100 meters away from other ATMs and should be placed at a place where people can easily see it. Power must be continuously available and at least 1kW power connection is also required. The cabin must be a permanent building with a concrete roof and masonry walls. If you live in a society for installing V-SAT then you have to get no objection certificate from the society or authorities.
These documents will be needed
- Aadhar card Pan card Voter card
- Ration Card, Electricity Bill
- Bank Account & Pass Book
- Photo, E-mail ID, Phone no.
- GST number
- Financial documents required by the company
