SBI ATM Franchise: Check Investment, Return, Documentation and Application Process

A need for banking and ATM services to reach out to every rural, semi-urban, and remote area is essential. There are only 100 ATMs for every 10 lakh people in India. To meet this increasing demand for ATMs, banks hire companies and give them contracts to install these ATMs. But do you know, you can also earn by applying for SBI ATM franchise. Let's take a look at the application process of SBI ATM Franchise.

SBI ATM franchise-

SBI franchise offer is divided into different slabs based on transaction volume. The SBI team will review your application form, determine the viability of your location, and recommend the ATM model that is best suited to you. Once your agreement is signed, SBI will notify the chosen installation company (such as TATA Indicash) to install the ATM. Finally, post-installation checks are performed, and your SBI ATM is ready to use.

Investment and Return- SBI ATM Franchise

Applying for SBI ATM franchise, a security deposit of Rs 2 lakh and working capital of Rs 3 lakh are required for the approval.That means, total investment is Rs 5 lakh. It should also be noted that the amount may differ from one company to the next. You will get Rs 8 for every transaction in cash and Rs 2 for non-cash transactions such as fund transfers and balance checks.

Requirements for SBI ATM franchise

Basic requirements for setting up a SBI ATM franchise-

• You must have 50 and 80 square feet space
• Space should be at least 100 metres away from other ATMs
• It should be in a visible location
• Power supply should always be available, at least 1kW of electricity is required.
• The cabin should be built with concrete roofing and brick walls.
• A certificate of no objection is required from the society in order to install V-SAT in a society.

Documents required

• Identity proof such as PAN, Aadhaar or Voter Card.
• Proof of address for example Electricity Bill, Ration Card, etc.
• Bank account details
• Passport size photo
• Email ID and registered phone number
• GST registration and number.
• Financial documents such as Balance Sheet, Profit and Loss Account, etc

How to apply for SBI ATM franchise?

• The SBI ATM Franchise application can be completed online at the SBI official website.
• SBI-approved companies, such as TATA Indicash, India One, and Muthoot, complete the SBI ATM installation request.
• The SBI ATM franchise team contacts you after receiving your offer proposal, and you are required to fill out an application form to SBI.
• The SBI team will review your application form, determine the viability of your location, and recommend the ATM model that is best suited to you.
• Once your agreement is signed, SBI will notify the chosen installation company (such as TATA Indicash) to install the ATM.
• Finally, post-installation checks are performed, and your SBI ATM is ready to use.