Successfully doing a business is not everyone’s cup of coffee. One needs to put in a lot of efforts and hard work to run it smoothly and earn most out of it. But there are some businesses which require investment only at once and you get big returns. One such business is ATM franchice which can help you earn up to Rs 60,000 to 70,000 per month with little one-time work with a refundable investment of around Rs 5 lakh.
If you also want to take the ATM franchise of SBI or any other banks, you will need to apply through the bank’s official websites.
ATM Franchise business: Conditions
- To set up an ATM cabin, you must have a space of at least 50-80 square feet.
- There must be a distance of at least 100 meters from other ATMs.
- The location should be such that people spot it easily.
- Mandatory 24 hours power supply and minimum 1kW electricity connection.
- The cabin should have brick walls and a concrete roof.
- For those who want to install V-SAT, a no-objection certificate from the society or authority will be required.
Documents Required for ATM Franchise
- ID Proof – Aadhaar Card, Pan Card, Voter Card
- Address Proof – Ration Card, Electricity Bill
- Bank Account and Passbook
- Photograph, E-mail ID, Phone No.
- Other Documents/Forms as required by the company
- GST Number
- Financial Documents required by the company
How you earn from ATM Franchise
When the ATM machine starts operating, you will get Rs 8 for every cash transaction and Rs 2 for a non-cash transactions.
DISCLAIMER: This article is not meant to be taken as a financial advice. State Bank of India is not directly involved in this scheme. The appointed/approved third parties set up bank ATMs.