Hey there, Opportunity Seeker Extraordinaire! 👋
Tired of the same old job hustle or looking for secondary income? Well, guess what? We’ve got a gem of a gig for you.
Imagine a business that’s practically unstoppable, right from the comfort of your own home. It is SBI ATM Franchise.
Let’s dive in and unwrap How to apply online SBI ATM Franchise?, How much you can earn money from the SBI ATM franchise?, Benefits of SBI ATM Franchise, How much investment is required to open a SBI ATM Franchise? Shall we?
Table of Contents
Why choose the SBI ATM Franchise: sBI ATM franchise details
Picking the SBI Franchise Scheme is like hitting the jackpot, and here’s why:
- More than 50,000 ATMs spread across India, even in the littlest towns.
- SBI’s ATM network is the biggest in India, and it’s growing like a beanstalk!
- With the special SBI card, you can use SBI and its partner banks’ ATMs without spending a penny.
- The SBI ATM is like a universal translator for cards – it understands all sorts, from Mastercard to VISA and more.
- SBI isn’t just any bank – it’s a big-deal government-backed powerhouse, ranking high among global Fortune 500 companies.
- And guess what? It’s known as the sturdiest bank in the whole country!
So, choosing SBI is like having a secret treasure map to financial success!
What is SBI ATM Franchise Offer?
Let’s break it down! So, picture this: SBI, which is like the boss of banks, has this cool opportunity where you can have your very own ATM machine.
They team up with other super-trustworthy companies like India 1, Muthoot Finance, and the granddaddy of them all, TATA Indicash, to make it happen.
TATA is like the wise old wizard of ATMs, making sure everything runs smoothly. They handle the installation part, while SBI makes sure everything is OKAY.
What is an SBI White Label ATM?
You know those ATM machines where you can get money from your bank, like SBI or ICICI? They have the bank’s name on them.
Well, a white label ATM is a bit different.
It’s like a special ATM that doesn’t belong to a specific bank. It doesn’t have a bank’s logo on it.
In 2012, the RBI (that’s like the boss of all banks) made rules for these special ATMs. They said that big companies with lots of money (at least ₹100 Crores!) can set up these ATMs.
Tata Communications Payment Solutions Limited was the first company to get permission to make these special ATMs, and they named theirs “Indicash.”
Now, there are about 15 different companies with these special ATMs. Some of them have names like Muthoot Finance, India One, AGS, Prizm Payments, and even one from all the way in Australia called BTI.
All You Need To Know About sBI ATM franchise cost
To start your SBI ATM Franchise , you’ll need around ₹5 lacs.
Now, out of this, ₹2 lacs are like a security deposit that SBI holds onto (but don’t worry, you can get it back!).
The remaining ₹3 lacs are your working capital to get things rolling. If you ever decide to bid farewell to your ATM business early, SBI kindly hands back ₹1 lac.
And for all the nitty-gritty on setting up your ATM, you can visit TATA Indicash’s website!
Profit of SBI ATM Franchise: ROI
With SBI’s State ATM franchise, you’re basically starting a small business that doesn’t cost much but can make you loads of money.
you set up an ATM, and every time someone uses it, you make some cash – around ₹8 for cash stuff and ₹2 for non-cash stuff like checking your account balance.
Now, if your ATM gets busy with about 300 to 500 transactions every day, you could pocket ₹45,000 to ₹90,000 every month!
That’s like having your own magical money machine! And guess what? The more transactions, the more you make! It’s like turning a little into a lot!
Also Read: 30+ Amazing Low-Cost Business Ideas with High Profit In India
SBI ATM Franchise Requirements
To get an SBI ATM franchise, what you’ll need; aside from the initial cost:
- An area of 50 to 80 sq ft of commercial space.
- Make sure there’s no other bank ATM within a 100 m radius.
- Your ATM’s spot should be easily seen and on the ground floor.
- Power-wise, you’ll need a 1 KW rating with round-the-clock juice.
- Commit to a minimum of 300 transactions daily.
- Ensure there’s a solid concrete roof for your ATM’s safety.
- Don’t forget to get a thumbs-up (NOC) for V-Sat installation from the relevant authorities or owner.
Documents required for SBI ATM Franchise: For KYC
KYC Verification- Franchisees must undergo mandatory Know Your Customer (KYC) verification.
- ID Proof: PAN, Aadhaar, or Voter Card.
- Address Proof: Electricity Bill, Ration Card, etc.
- Bank passbook and account details.
- Four passport-size photographs.
- Valid email ID and registered phone number.
- GST Registration and GST Number.
- Financial documents of the last three years (e.g., Balance Sheet, Profit and Loss Account) for businesses, demonstrating net worth and business skills.
How to apply for sBI ATM Franchise: The Process
To SBI ATM Franchise online apply by visiting the official website of the companies that provide franchising. These companies include:
1. Tata Indicash
2. Muthoot ATM
3. India One ATM
Step 1: Visit the official website of the companies that provide franchising.
Step 2: Read all the guidelines.
Step 3: Fill in the online application form.
Step 4: Attach the required documents.
SBI ATM Franchise Support
Need assistance or have questions? Dial up the SBI ATM franchise contact number at 080-26599990.
SBI’s got your back, every step of the way!
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