Banks never install ATMs. The companies which do so are different. Some companies are given a contract on behalf of the banks to install ATMs, which work accordingly.
Scroll down to know how to earn by taking ATM franchise.
Prerequisites:
- You should have 50-80 square feet of space.
- The nearest ATM should be at least 100 meters apart.
- The chosen space should be on the ground floor and should not be in a secluded area.
- The area should be on a 24-hour power supply.
- The ATM’s capacity should be about 300 transactions per day.
- The ATM area should have a concrete roof.
- There is no requirement for NOC from authorities or society for installing V-SAT.
Required Documents:
- ID Proof – Aadhaar Card, Pan Card, Voter Card
- Address Proof – Ration Card, Electricity bill
- Bank Account and Passbook
- Photograph, E-mail ID, Phone Number
- GST Number
- Financial Documents
How to Apply
SBI ATM Franchise is given by few companies. One can apply online by visiting their official website. Tata Indicash, Muthoot ATM and India One ATM have the contract to install ATMs mainly in India. For this, the interested ones can apply for ATM by logging in online on the websites of all these companies.
Required Investment
Tata Indicash is the oldest and largest company among all. It is offering franchisees on a security deposit of 2 lakhs rupees which is refundable. Apart from which, Rs 3 lakh will have to be deposited as ‘working capital’. Hence, the total investment to be made is Rs 5 lakh.
How much can be earned
Every cash transaction gets the person Rs. 8 while every non cash transaction gets Rs. 2. The return on investment ranges from 33-50% on an annual basis. Income on a monthly basis can range from closely to Rs. 45,000 to Rs. 90,000.
