If you’re looking to start a home-based business, partnering with the State Bank of India (SBI) could be a lucrative option.
By acquiring an SBI ATM franchise, you can potentially earn between Rs 60,000 and Rs 70,000 per month.
Banks, including SBI, do not install their own ATMs. Instead, they contract companies to handle ATM installations.
Here’s how you can benefit from this opportunity.
Applying for an ATM Franchise
In India, the ATM installation contracts are managed by companies such as Tata Indicash, Muthoot ATM, and India One ATM.
You can apply via their official websites:
- Tata Indicash: indicash.co.in
- Muthoot ATM: muthootatm.com/suggest-atm.html
- India One ATM: india1atm.in/rent-your-space
To secure an SBI ATM franchise, you need to apply through one of these companies.
Requirements and Documentation
Space: 50-80 square feet for the ATM installation.
Location: The ATM must be at least 100 meters away from other ATMs.
Visibility: The location should be easily visible to the public.
Power Supply: 24-hour electricity with a 1-kilowatt power connection.
Capacity: The ATM should handle about 300 transactions per day.
Structure: A concrete roof is required.
Permissions: Obtain a No Objection Certificate from the relevant authority.
Documents Needed:
Below documents are needed:
- ID Proof: Aadhaar Card, PAN Card, Voter Card
- Address Proof: Ration Card, Electricity Bill
- Bank Account and Passbook
- Photograph, Email ID, Phone Number
- GST Number
- Financial Documents
That’s all.
Financial Investment and Earnings
To set up an SBI ATM franchise, Tata Indicash requires a security deposit of Rs 2 lakh, which is refundable.
Additionally, you need to invest Rs 3 lakh as working capital, bringing the total investment to Rs 5 lakh.
Franchisees earn Rs 8 per cash transaction and Rs 2 per non-cash transaction (such as balance checks and mini-statements).
This model allows you to generate significant income from ATM operations.
