Srinagar, Feb 20: The State Bank of India has an opportunity for you to earn money sitting at home with a one-time investment. SBI is offering individuals their SBI ATM Franchise. However, the concerned bank will not install the ATM but contact the third party for that.
Here are the things you need to acquire the SBI ATM Franchise:
– You need to have a space of 50-80 square feet with a distance of more than 100 meters from other ATM counters
– Space needs to be on the ground floor
– The place needs to have 1 KW electricity connection with 24X7 hours power supply
– ATM needs to have a capacity of about 300 transactions per day
– The space needs to have no objection certificate (NOC) for installation of the ATM machine
Documents needed for Franchise:
– Address Proof (Ration Card, Electricity Bill)- ID Proof (Aadhaar Card, Pan Card, Voter Card)- Bank Account and Passbook- Photograph- E-mail ID- Phone Number- GST Number- Financial Documents
Here’s how to apply for the ABI ATM Franchise:
An individual can apply for the franchise through different companies that provide ATM Franchise services like Tata Indicash, Muthoot ATM and India One ATM.
Here’s how much you can earn from the franchise:
An individual gets Rs 8 on every cash transaction and Rs 2 on non-cash transactions. The return on investment ranges from 33-50% on an annual basis.
If an ATM goes through 250 transactions per day – 65 percent cash transaction and 35 percent non-cash transaction, then monthly income will be close to 45 thousand rupees. At the same time, if there are 500 transactions daily, there will be a commission of about Rs 88,000-90,000. (DNA India)
