Invest Rs 5 lakh once, earn up to Rs 70,000 per month sitting at home; Check details

ATM Franchise Business: Doing business is never easy and it requires a lot of hard work and effort. But what if you can earn up to Rs 60,000 to 70,000 per month with little one-time work and a refundable investment of around Rs 5 lakh? If you are thinking about what kind of business this is, let us tell you that we are talking about the ATM franchise.

Whenever you see an SBI ATM or ATM of any other banks somewhere, you must be thinking that the banks might have installed them. But that's not the case. Let us tell you that the companies that install ATMs are contractors roped in by these banks and then these companies carry out the installation of ATMs at different places.

For most of the banks, the contract for setting up an ATM in India lies with Tata Indicash, Muthoot ATM and India One ATM. So, if you want to take SBI or any other banks ATM franchise, you will have to apply with these companies through their official websites. Since many frauds also happen by deceiving people in the name of ATM franchise, beware and apply only through the company's official website.

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Conditions for taking ATM Franchise

You should have a space of at least 50-80 square feet to set up an ATM cabin. Its distance from other ATMs should be at least 100 meters and the location should be such that it's easily visible to people. There should be 24 hours power supply and the minimum 1kW electricity connection is also mandatory. The cabin should be a permanent structure with brick walls and a concrete roof. If you live in a society, then you will be required to take a no-objection certificate from the society or authority for installing V-SAT.

Documents Required for ATM Franchise
* 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

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Earning from ATM Franchise

In most of the ATM Franchise cases, when you apply and get approval for the ATM franchise, you will be required to pay Rs 2 lakh as a security deposit and Rs 3 lakh as working capital. The total investment is Rs 5 lakh and the amount may differ from company to company. When the ATM gets installed and people start doing transactions from the machine, you will get Rs 8 for every cash transaction and Rs 2 for a non-cash transaction like balance check and fund transfer.

(DISCLAIMER: This write-up is for generic understanding. It is not meant to be taken as a financial advice. State Bank of India has no direct involvement in this scheme. There exist appointed/approved third parties that undertake the setting up of bank ATMs, and SBI has no direct role in this process.)