SBI ATM Scheme: How to apply for the SBI ATM franchise? How to earn upto Rs 60,000 every month?

Everyone dreams of earning money from the comfort of home. If you are one of those, check out how you can earn up to Rs 60,000 monthly by setting up an SBI ATM franchise.

Most individuals are always in search for extra income, and if you are one of them, congratulations, you've found an easy way to manifold your earnings. While many passive sources of income require extensive knowledge of the field and ask for time and dedication, this new way of earning is free from both the requirements.

SBI is India's largest public sector bank, and to operate efficiently and keep the customers happy, it must provide services at all locations. Every bank's major service is ATMs. A bank cannot own properties to establish ATMs and bank branches at every crossroads. Hence they rely on leased and rented properties.

Such properties help banks to reduce their capital investments and also help them reduce operational overheads. They need to pay the rent and set up their facility. All the capital investment and government-related works are the responsibility of the owner.

So coming to the primary question: how to earn 60,000 from SBI every month?

Here's how:

SBI is always looking to expand its network of ATMs throughout the country, and for this, it is always renting new spaces and shops. If you have an idle sitting property, you can apply for an SBI ATM and earn good money from your property. The rent received from ATMs is far better than what you'll get in the local market, which will help you gain better returns on your property.

Also Read: How To Set up New Income Sources?

There are some prerequisites to qualify for an ATM place, so let's look at them too.

Prerequisites For Qualifying As ATM Place

1. You should have at least 80 to 100 square feet of the shop on the ground floor of any complex.
2. The shop should not be next to another ATM, and there should be at least a 100-meter distance if there are ATMs in the vicinity.
3. Shops on the roadside are preferred more, so ensure that your shop is not in a dark and secluded corner that seems unsafe.
4. The ATM should have a 24-hour power supply facility and a NOC certificate from the local authority.

So now, how to apply for an ATM franchise?

How To Apply For SBI ATM Franchise?

SBI has outsourced the work of setting up its ATM network around the country, and companies like Tata Indicash, Muthoot ATM, and India One ATM have the contracts.

If you are looking to apply for an SBI ATM franchise, do a self-evaluation of your property, and if everything seems okay, you can apply from the website. Head over to the official websites of the ATM contractors, and you'll find the option on the website easily.

Also Read: New Bank Charges on ATM Facilities

You can apply for the Bank ATM franchise, and their team will contact you shortly.

Other Things To Keep In Mind

While you apply for an ATM, there are a few things that you need to keep in mind. Let's have a look at them too.

1. You'll need a refundable security deposit of Rs 2 lakhs and will require a working capital of Rs 3 lakhs. So before applying, keep Rs 5 lakhs ready to be pumped on the business.
2. You will require identity proofs like an Aadhar card, PAN card, and other documents to fill up the application forms.
3. For every cash transaction, you'll earn Rs 8, and for every non-cash transaction, you'll earn Rs 2. So always try to set up an ATM where people frequently visit to benefit from the volume of transactions.

If you want to start an easy way to earn money without any time commitment and hassles, setting up an SBI ATM franchise is the best option. Turn your idle property into a money machine by installing an ATM today.