You need a 50 to 60 sq ft house for franchising. Golden opportunity to earn from the biggest bank of the country! Many people rent a house to install a bank’s ATM. But without that, a State Bank franchise can be taken. And if you do this, then the commission will be matched according to the transaction sitting at home. This amount is about 60 thousand rupees per month.
If you want to take this franchise then you should have 50 to 60 square feet space. SBI will install ATM at that place if all the conditions of the bank are fulfilled. But one condition is very important. You have to choose a place at least 100 meters away from any State Bank ATM. I want a house and 24 hours electricity connection. I also want to arrange 1 kW power. Also, if the house is in a residence, then it is necessary to have a no-objection certificate for setting up V-SAT.
Anyone can apply for this. For that you must have Aadhar, PAN, Voter, Ration Card. Bank account, phone number and GST number are required. If you want to take State Bank ATM Franchise then you have to contact Indicash, Muthoot ATM and India One ATM. Franchises are available through them. You can also apply by visiting the companies website. The total investment is Rs 5 lakh. If you get a franchise, you need to deposit a security deposit of Rs 2 lakh and a working capital of Rs 3 lakh.
In this case, the entire income is for commission. State Bank does not give houses on rent. The income is calculated at Rs7 for each cash transaction through that ATM, and the commission is Rs2 per transaction other than cash. Suppose there are 250 transactions per day, of which 75 per cent are in cash and 35 per cent in others. Monthly income is about 45 thousand rupees. And if there are 500 transactions in a day then the commission is 8 to 90 thousand rupees. The average monthly income of such a franchisee is 60 thousand rupees.