Be a Business Partner with SBI, earn up to Rs 70,000 per month - Terms, investment, earning, documents required, - DETAILS HERE
SBI Business Scheme: It should be noted that there are many frauds by defrauding people in the name of ATM franchises. So, if you want to apply for SBI ATM Franchise then be careful and apply through the official website of the company only.
SBI Business Scheme: India’s largest lender State Bank of India (SBI) is one of the trusted banks in the country and depositors firmly believe their money is safe with SBI. However, if someone says that you can do business with SBI and earn up to Rs 60,000-70,000 per month - will you believe it?
It takes only one-time labour, which could garner an investment of around Rs 5 lakh. If you are wondering what type of business this is - then let us tell you that we are talking about SBI ATM Franchise.
Still confused? Understand this way -
Whenever you see ATM in the market, near societies, schools or anywhere; what do you think Who installed it? If your answer is banks, then you are wrong. There are companies that install ATMs on a contract basis. These contractors are hired by banks.
For example, Tata Indicash, Muthoot ATM, and India One ATM have contracts to install ATMs for the State Bank of India. So, anyone who wishes to obtain an ATM franchise from SBI, needs to apply these businesses via their official websites.
It should be noted that there are many frauds by defrauding people in the name of ATM franchises. So, if you want to apply for SBI ATM Franchise then be careful and apply through the official website of the company only.
SBI ATM Franchise: Terms and Conditions for applying
There should be an area of at least 50 and 80 square feet to set up an ATM cabin. Also, it should be at least 100 meters away from other ATMs. Talking about the location, it should be such that it is easily visible to the people. 24-hour power supply and a minimum 1 kW electricity connection are also mandatory. Plus, the cabin must be a permanent building with a concrete roof and masonry walls.
If you live in a society, then no objection certificate will be required from the society or the authorities for setting up V-SAT.
SBI ATM Franchise: Documents Required
* 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
Also Read: Government resumes sugar exports; allows 6 mn tons on quota basis till May 31 - Details
SBI ATM Franchise: Investment and Earning Details
To get approval for SBI ATM Franchise, Rs 2 lakh has to be paid as a security deposit and Rs 3 lakh as working capital. So, the total investment is Rs 5 lakh. It should also be noted that the amount may vary from company to company.
After all the processes from paperwork to installation, ATM will be available for SBI customers. In every cash transaction, you will receive Rs 8 and for non-cash transactions like balance checks and fund transfers, you will receive Rs 2.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Fundamental picks by brokerage: These 3 largecap, 2 midcap stocks can give up to 28% return - Check targets
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
Tamil Nadu Weather Alert: Chennai may receive heavy rains; IMD issues yellow & orange alerts in these districts
SIP+SWP: Rs 10,000 monthly SIP for 20 years, Rs 25 lakh lump sum investment, then Rs 2.15 lakh monthly income for 25 years; see expert calculations
Top 7 Mutual Funds With Highest Returns in 10 Years: Rs 10 lakh investment in No 1 scheme has turned into Rs 79,46,160 in 10 years
SIP vs PPF: How much corpus you can build in 15 years by investing Rs 1.5 lakh per year? Understand through calculations
05:52 PM IST