SBI ATM Franchise 2024:The issue of unemployment is being observed in the country of India. In such a situation, collaborating with the State Bank of India (SBI) is an excellent option to earn. Through SBI ATM Franchise 2024, you can earn up to ₹80,000 per month from the comfort of your home. To achieve this, you will need to follow certain rules. Let us explore how you can earn lakhs through the ATM franchise of the State Bank of India.
State Bank of India (SBI), the largest lender in India, is renowned for its reliability and depositors have unwavering faith in the safety of their funds with SBI. Nevertheless, would you place your trust in the notion that engaging in business with SBI could potentially yield a monthly income of Rs 80000.00? A single instance of labor is all that is required, with the potential to yield an investment of approximately Rs 5 lakh. In case you are curious about the nature of this enterprise, allow us to inform you that we are referring to the SBI ATM Franchise 2024.
SBI ATM Franchise 2024
SBI, one of the most prominent banks in India, continues to witness remarkable growth year after year. By strategically locating an ATM, one can generate substantial profits. Undoubtedly, opening an SBI ATM Franchise 2024 presents an exceptional business opportunity. Let us explore some of the key reasons why opting for an ATM franchise SBI as your primary business venture can be highly lucrative.
- SBI, being one of the largest and most established companies in the country, has an extensive network. This ensures that any issues with your SBI ATM Franchise 2024 can be quickly resolved by the higher department of the company.
- The bank offers a competitive profit rate or commission compared to other banks, with the owner of the franchise receiving Rs 8 for every cash transaction.
- As a government corporation, partnering with SBI provides a sense of security. Additionally, SBI has been recognized as the most stable bank in the country, holding 1/4th of the market share and serving over 48 crore customers through its vast network.
- By partnering with SBI, your ATM franchise gains a reputable brand image and goodwill from the market, as many users appreciate the bank’s ATM service.
- These reasons make SBI an attractive choice for an ATM franchise, provided you meet all the necessary terms, conditions, and requirements outlined by the banking guidelines. In this article, we will delve into how the SBI ATM franchise operates its advantages and disadvantages, associated risks, and more.
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Space Requirements for SBI ATM Franchise 2024
SBI ATM franchise requirements include the following:
- You need to have a space of 50 to 80 square feet.
- The space should be at least 100 meters away from other ATMs.
- It should be located in a visible area.
- There should be a continuous power supply, with a minimum requirement of 1kW of electricity. The cabin should have concrete roofing and brick walls.
- To install V-SAT in a society, a certificate of no objection is necessary from the society.
Return on Investment
- To become an SBI ATM franchisee, you will need to provide a security deposit of Rs 2 lakh and have a working capital of Rs 3 lakh for the approval process. This means that the total investment required is Rs 5 lakh.
- However, it’s important to keep in mind that the investment amount may vary depending on the company. On the bright side, for each cash transaction, you will earn Rs 8, and for non-cash transactions like fund transfers and balance checks, you will earn Rs 2.
Required Documents for SBI ATM Franchise 2024
To complete your ATM franchise SBI application, we kindly ask you to provide the following documents:
- Identity proof (PAN, Aadhaar, or Voter Card)
- Proof of address (Electricity Bill, Ration Card, etc.)
- Bank account details
- A passport size photo
- Email ID
- Registered phone number
- GST registration,
- Financial documents like a Balance Sheet or Profit and Loss Account.
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How to obtain a SBI ATM franchise?
To obtain an SBI ATM franchise, you must first contact three companies: Tata Indicash, Muthoot ATM, and India One ATM. These companies will provide you with all the necessary permissions and information on behalf of SBI. Here is the step-by-step process to acquire an SBI ATM franchise:
- Simply visit the official SBI website and complete the online application.
- After submitting your offer proposal, the SBI ATM franchise team will contact you and provide an application form to fill out.
- Your application form will then be reviewed by the SBI team, who will assess the suitability of your location and recommend the most appropriate ATM model for you.
- Once you have signed the agreement, SBI will inform the chosen installation company (such as TATA Indicash) to install the ATM.
- Finally, post-installation checks will be conducted to ensure that your SBI ATM is ready for use.