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?  

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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.