written by | February 17, 2022

Complete Guide to starting an SBI ATM Franchise

In India, there is a need for banking and ATM services to reach rural, semi-urban and remote places. It is a great business opportunity to set up the SBI White Label ATM in the banking sector in such circumstances. The present ATM penetration levels are just 100 ATMs for every 10 lakh Indian population. This is considered a small figure compared to global figures. To increase the spread of ATMs in the country, SBI– India's leading bank– is offering a wonderful franchise opportunity to aspiring entrepreneurs. Let us study how this offer can increase the number of ATMs in India and help you earn a passive income of ₹45,000 to ₹90,000 per month.

Did you know? SBI is the only bank in India with a Floating ATM. 

Why choose the SBI Franchise Scheme?

There are several reasons why it's a good idea to earn using the State ATM franchise offers. Here are the main reasons:

  • At SBI, you get the convenience of 50,000+ ATMs located all over India in rural, semi-urban and urban areas.
  • SBI has the largest ATM network in India, which is growing fast.
  • You can use the SBI Debit cum ATM Cash Plus card to transact at SBI ATMs and its subsidiary banks ATMs free of cost.
  • The SBI ATM also accepts all credit/ debit cards issued by foreign banks and Indian banks like Mastercard, Maestro, SBI Credit Card, VISA cards, Cirrus and VISA Electron cards.
  • SBI is a government corporation and multinational statutory body offering banking/financial services in the public sector. It is ranked at 236 in 2019 among the top Fortune 500 companies list globally.
  • It is a government bank that has been voted as the most stable bank in the country. 

Also read: Which Are The Most Profitable Franchises in India?

The SBI Franchise Offer:

The SBI ATM franchise cost and offer involve installing a suitable ATM or White Label ATM (WLA) from reputed SBI appointed companies like India 1, Muthoot Finance, TATA Indicash, etc. TATA is a reputable and well-established ATM brand and is perhaps the oldest and most reliable ATM installation partner for the SBI ATM franchise offer. ATM installation is performed by these companies, while the SBI ATM franchise offer is negotiated and verified by SBI itself. 

What is an SBI White Label ATM

  • ATMs exhibit the bank’s names for which they offer cash and services—for example, SBI, Bank of Baroda, ICICI, UCO Bank, etc. 
  • The white label ATM is not bank-issued and does not bear a bank’s logo. In 2012 RBI issued the White Label ATM guidelines - 2012, followed by the necessary permissions and licences in 2013. 
  • According to this guideline, a non-bank legal entity with a net worth over ₹100 Cr can set up these white label ATMs. 
  • Tata Communications Payment Solutions Limited won the first permission to open such white label ATMs with “Indicash” as its name. 

Today about 15 such companies have white label ATMs. Some of the popular white-label brands of ATMs are the Muthoot Finance ATMs, India One ATMs, AGS ATMs, Prizm Payments ATMs and the Australian BTI ATMs.

Investment range for SBI Franchise Scheme:

Total investment is approximately ₹5 lacs, of which ₹2 lacs is a refundable deposit held by SBI, while the remaining ₹3 lacs is the working capital. If you decide to close down operations of the ATM for any reason before the contract closing date, then SBI refunds an amount of only ₹1 lac. All SBI ATM installation details are provided on the TATA Indicash’s website.

Profit of SBI’s State ATM franchise:

SBI ATM franchise offer is a low-cost investment with high potential for becoming a profitable small business. You can start your own business, use your space, and even provide an alternate employment opportunity. The passive earnings can range from  ₹45,000 to ₹90,000/- month. This is when the volume of transactions at the ATM is in the range of 300 to 500 transactions per day

The SBI franchise offer pays ₹8 per transaction in cash and ₹2 for every transaction for non-cash transactions. For example, checking your account’s balance, getting a mini-statement of your account, etc., fall into non-cash transactions. 

The expected ROI (Return on Investment) is in the 33 to 50% range when calculated annually. This means earning at least ₹45,000 per month at 300 transactions per day. If you increase the minimum transactions to 500 transactions/ day, you can earn ₹90,000 or more per month!

Also read: What is the Cost of Apollo Pharmacy Franchise in India

The SBI ATM Requirements:

The franchise offer from SBI has specific basic requirements other than the ATM franchise cost which is detailed here -

  • The ATM must be housed in 50 to 80 sq ft of commercial space.
  • There should be no other bank ATM within 100 m of your ATM’s location.
  • The ATM space needs to have excellent visibility and be on the ground floor of the premises.
  • The electrical connection should be at least 1 KW rating and have a 24 hours uninterrupted power supply. 
  • You should be able to guarantee at least 300 transactions or more per day.
  • The ATMs location needs to have a concrete roof to ensure its safety.
  • The V-Sat installation used for the ATMs functioning will need a NOC or No Objection Certificate from the owner, authorities or/and society as applicable.

SBI’s KYC Documentation:

SBI ATM Franchise offer requires its Franchisees to undergo a mandatory KYC verification. The KYC or ‘Know Your Customer’ mandates from RBI include verifying your identity and address. However, SBI also needs to evaluate your financial standing and hence requires several other documents. 

SBI’s document checklists is given below -

  • ID Proof like the PAN, Aadhaar or Voter Card.
  • Acceptable Address Proof like the Electricity Bill, Ration Card, etc.
  • Your Bank passbook and account details.
  • At least 4 passport sized photographs. 
  • A valid email ID and a registered phone number.
  • Your GST Registration and GST Number.
  • Financial documents of the last three years like Balance Sheet, Profit and Loss Account, etc for businesses that prove your net worth and business skills.

About the ATM installation company:

Please check the ATM details depending on the SBI franchise model you opt for at the installation companies given below to ensure there are no glitches relating to the installation and SBIs specifications. In addition, you can call the SBI ATM franchise contact number for any help required directly.

  • Tata Indicash 
  • India One ATM 
  • Muthoot ATM 

SBI’s Franchise Support:

SBI is a government corporation and multinational statutory body offering banking/financial services in the public sector. It is ranked at 236 in 2019 among the top Fortune 500 companies. SBI is India’s largest bank, with 25% of the market in deposits and loans and 23% of its market share in assets. That’s why people flock to the SBI. 

Here is the support you can expect from SBI:

  • Immediately upon receiving your franchise application, the SBI franchise team reaches out to you. After processing and verifying your details, SBI advises you on which ATM to install.
  • SBI, under its franchise agreement, ensures a constant cash loading schedule and collects the transaction fee from their customers and remits it to your account based on the transactions achieved. 
  • SBI also trains you in cash loading and cash handling.
  • SBI also ensures you are familiar with the First Level Maintenance routines in case of minor glitches like the card getting stuck, rebooting the ATM etc.
  • The SBI agreement with the ATM Company takes complete care of the installation and maintenance of the ATM. In addition, it ensures superior service in terms of ATM-machine support, technical issues resolution and the franchise support team’s services.
  • In case of any queries or operational issues, you can reach out to the SBI ATM franchise contact number 080- 26599990.

The process to apply for SBI ATM Franchise:

The SBI ATM Franchise offer can be made online at the SBI official website. The SBI ATM installation request is completed by other SBI appointed companies like TATA Indicash, India One and Muthoot. On receiving your offer proposal, the SBI ATM franchise team contacts you and you are required to fill out an application form to SBI. The application form KYC documents needed are already laid out above. 

The offer has different slabs based on transactional volumes. SBI's team will verify your application form, then check the viability of your location and suggest the ATM model which is best suited to you. Once your agreement is in place, SBI will advise the installation company chosen (like TATA Indicash) to install the ATM. Finally, post-installation checks are carried out, and you can then launch your SBI ATM.

Also read: Smart Franchise business opportunities in India


With or without business experience, the SBI ATM franchise cost is low and fetches you a passive income that can range from ₹45,000 to ₹90,000 per month. Besides, SBI as a brand name is great for your business.
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Q: Does the SBI franchise offer a contact number for queries?


Yes. In case of any operational issues, reach out to the SBI ATM franchise contact number 080- 26599990.

Q: What is the amount of profit I can expect from the SBI Muthoot ATM Franchise?


The SBI franchise offer pays ₹8 per cash transaction and ₹2 for every non-cash transaction. Therefore, it has the potential to help one earn at least ₹45,000 to ₹90,000/ month.

Q: What investment is required to start the SBI Indicash ATM franchise business?


The SBI ATM franchise cost and application are also available on TATA Indicash’s website. The total investment is approximately ₹5 lacs, which ₹2 lacs is a refundable deposit held by SBI and includes working capital of ₹3 lacs.

Q: If I do not have any prior experience in business, can I still take up the SBI ATM Franchise?


Yes. Once you take up the SBI franchisee offer, you also get support in your operations from the SBI franchise team and can call the SBI ATM franchise contact number if you need help.

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