Are you interested in starting your own business? Here’s a lucrative opportunity that you may consider: partnering with the State Bank of India (SBI) to establish your own ATM franchise.

By taking up an Sbi Atm Franchise, you can earn a monthly income ranging from 60,000 to 70,000 rupees.

It’s important to note that installing ATMs is typically handled by specialized companies rather than the banks themselves. These companies are contracted by the banks to install ATMs at various locations.

If you decide to pursue an SBI ATM franchise, here’s how you can potentially generate substantial income:

1. Initial Investment

You will need to make an initial investment to acquire the franchise rights and the necessary equipment for operating the ATM.

2. Location Selection

Identify strategic locations where there is a demand for ATM services but a lack of existing options. High footfall areas, commercial centers, and residential neighborhoods can be excellent choices.

3. Installation and Maintenance

Coordinate with the ATM installation company to set up the machines at the chosen locations. Regular maintenance and cash replenishment will also be essential to ensure uninterrupted service.

4. Revenue Sharing

The income generated from the ATM will be shared between you and the bank based on a predetermined revenue-sharing agreement.

The specific terms and conditions can vary, so it’s crucial to discuss this with the bank before finalizing the franchise.

By providing convenient access to cash withdrawal services, you can attract customers and generate income through transaction fees and surcharges.

Remember to consider factors such as operational costs, security measures, and compliance with regulatory requirements while running your ATM franchise.

Starting an ATM franchise can be a profitable business venture, offering a steady stream of income.

However, it’s important to conduct thorough research, understand the associated costs and responsibilities, and establish a solid business plan before embarking on this venture.

To acquire the franchise rights for an SBI ATM, you will need to apply to the companies authorized by SBI to install ATMs in India, such as Tata Indicash, Muthoot ATM, and India One ATM.

These companies have the contractual arrangements with SBI for installing and managing ATMs across the country.

To apply for the SBI ATM franchise, you can visit the official websites of these companies and follow their application process.

1. Tata Indicash

Visit the official website of Tata Indicash and look for the franchise section or contact information. They will provide details on how to apply for an SBI ATM franchise through their company.

2. Muthoot ATM

Similarly, navigate to the official website of Muthoot ATM and explore their franchise-related information. They should have specific instructions and procedures for applying to become an SBI ATM franchisee.

3. India One ATM

Visit the official website of India One ATM and search for franchise opportunities or contact details. You can reach out to them directly to inquire about the process and requirements for obtaining an SBI ATM franchise.

Each of these companies will have its own application process, criteria, and terms for granting the franchise.

Make sure to carefully review the requirements, financial obligations, and support offered by the franchise provider before proceeding with your application.

By applying through the official websites of these authorized ATM companies, you can express your interest in obtaining an SBI ATM franchise and initiate the process of establishing your own ATM business in association with the State Bank of India.

Important Rules for ATM Franchise

To successfully set up an ATM franchise, it is important to adhere to certain rules and requirements. Here are some essential considerations:

1. Space Requirement

You will need a space of approximately 50-80 square feet to accommodate the ATM machine and provide a comfortable area for customers. Ensure that the location meets the minimum space criteria.

2. Distance from Other ATMs

The selected location should be at least 100 meters away from existing ATMs. This ensures that customers have convenient access to ATM services without overcrowding in a specific area.

3. Visibility and Accessibility

Choose a location that is easily visible and accessible to the public. This will increase the likelihood of attracting customers and ensuring a steady flow of transactions.

4. Power Supply

A continuous and reliable 24-hour power supply is essential for the ATM to function properly. Additionally, you will require a 1 KW power connection to support the ATM’s operations.

5. Transaction Capacity

The ATM you install should have a capacity of around 300 transactions per day. This ensures that it can handle the expected volume of withdrawals and other transactions efficiently.

6. Structural Considerations

The ATM should have a concrete roof to protect it from weather conditions and ensure its security.

7. No Objection Certificate (NOC)

Obtain the necessary No Objection Certificate from the relevant society or authority. This document ensures compliance with local regulations and confirms that there are no objections to installing an ATM at the chosen location.

8. V-SAT Connectivity

V-SAT (Very Small Aperture Terminal) connectivity is necessary for the smooth operation of the ATM. Ensure that you have the required V-SAT connection in place.

Adhering to these important rules and requirements will help you establish a successful ATM franchise.

Before proceeding, it is recommended to consult with the authorized ATM company you are applying to, as they may have specific guidelines and additional criteria to consider.

To apply for an ATM franchise, you will typically be required to provide certain documents and information. Here is a list of documents commonly needed during the application process:

1. ID Proof

You may be asked to submit any of the following ID proofs: Aadhaar Card, PAN Card, Voter ID Card, or any other government-issued identification document.

2. Address Proof

You will need to provide an address proof, which can include documents such as Ration Card, Electricity Bill, or any other official document displaying your current address.

3. Bank Account and Passbook

You will be required to provide details of your bank account, including the account number and passbook information.

4. Photograph, E-mail ID, Phone No.

Recent passport-sized photographs along with your valid email address and contact number will be necessary for communication purposes.

5. Other Documents

Depending on the franchise provider’s requirements, additional documents may be requested. These could include business registration certificates, trade licenses, or any other relevant documents.

6. GST Number

If applicable, you may need to provide your Goods and Services Tax (GST) registration number.

7. Financial Documents

Some franchise providers may require you to submit financial documents, such as income tax returns, bank statements, or other financial records to assess your financial stability and credibility.

Remember to check the specific requirements and document checklist provided by the authorized ATM companies, Tata Indicash, Muthoot ATM, and India One ATM, through their respective websites mentioned above.

These websites should provide detailed information on the application process and the documents needed for applying for an ATM franchise.

Official Website

Tata Indicash – www.indicash.co.in

Muthoot ATM – www.muthootatm.com/suggest-atm.html

India One ATM – india1atm.in/rent-your-space

Earning Potential

Earning potential in an SBI ATM franchise can vary based on factors such as location, transaction volume, and operational efficiency. Here are some details regarding the earning structure:

1. Investment

To obtain a franchise from Tata Indicash for an SBI ATM, a refundable security deposit of 2 lakhs is required. Additionally, a working capital deposit of Rs 3 lakh is necessary, resulting in a total investment of Rs 5 lakh.

2. Transaction Fees

As an SBI ATM franchisee, you can earn income through transaction fees. For cash transactions, you receive Rs 8 per transaction, while for non-cash transactions such as checking account balances or obtaining mini-statements, you receive Rs 2 per transaction. The actual earning will depend on the number of transactions your ATM processes.

It’s important to note that the earning potential can vary based on factors like transaction volume, location, and operating costs.

Factors such as ATM maintenance, cash replenishment, and other operational expenses should also be considered when assessing the overall profitability of the franchise.

Before finalizing any franchise agreement, it is advisable to thoroughly research and evaluate the terms and conditions provided by Tata Indicash or any other authorized franchise provider.

This will help you gain a clear understanding of the potential earnings and the associated costs and responsibilities of running an ATM franchise.