Business idea: From SBI, ICICI to HDFC, earn upto Rs 60,000-70,000 through ATM franchise; Check full details

Srinagar, Mar, 02: See here all details on getting an ATM franchise that will help you earn upto Rs 70,000 per month.

People often refrain from business as setting up a business is very challenging and requires a lot of financial investment. However, there is a way to earn Rs 60,000-70,000 per month with a small amount of one-time labour and a refundable investment of approximately Rs 5 lakh.

Now the real question is how to get an ATM franchise.

To get an ATM franchise, you have to submit an application from the official website of the company that has the contract for it. For example, if you want to get an ATM franchise of SBI, then you will have to apply for it from the official website of either India One ATM or Tata Indicash or Muthoot ATM since these have contracts for SBI and most banks such as HDFC, ICICI, PNB, and more.

ATM Franchise: Conditions to set up an ATM cabin

• Applicant must have an area of 50 to 80 feets
• It should be minimum of 100 meters away from other ATMs
• The ATM cabin should be placed at a place that is within visibility
• LAt least a 1kw electricity connection should be available at all times
• The cabin should be a permanent building with a concrete roof.

ATM Franchise: Documents needed for application

• Aadhaar Card, Pan Card, Voter Card
• Ration card, electricity bill
• Bank account and pass book
• Photograph, E-mail ID, Phone No
• GST number
• Financial documents required by the company

SBI ATM franchise: Investment and earning

Applicants will have to deposit a security amount of Rs 2 lakh and working capital of Rs 3 lakh to get approval for setting up an ATM cabin. The entire investment is roughly Rs 5 lakh. This varies from bank to bank. For every cash transaction, you will receive Rs 8 and for every non-cash transaction, you will get Rs 2. This earning will begin only after the ATM is deployed and functional.

Note: Beware of fraud websites offering the ATM franchise. Go to the official website only.