In this article, I am going to guide you about applying and opening a mini branch of any bank very easily. First, we need to know that what is a mini branch and why it is so important? So, the mini branch is a small branch of any bank that provides maximum services pf a bank-like account opening, cash withdrawal, cash deposit, money transactions, insurance services, loan services, etc. It is very important for us because it minimizes the crowd and rush inside a bank, due to which customers get good services and the bank employees also face less pressure and workload. It is very good for people who belong to the rural area because for small work, they have to travel a lot. So, due to the mini branch, they save a lot of time and energy. It’s another benefit is that it can be opened anywhere, at that type of place also where a bank can’t be opened. This is why it is very important. Today many people want to open a bank csp and want to earn a lot of money. You can earn Rs.30,000 to 40,000 per month easily. So, I am going to give a detail of the whole process of applying for a mini branch, services provided by a mini branch, its eligibility criteria, and requirements for opening a mini branch.
Services provided by a mini branch.
- 1.Cash withdrawal
- 2.Cash deposit
- 3.Account Opening
- 4.Passbook printing
- 5.Atal Pension Yojna(APY)
- 6.Pradhan Mantri Jeevan Jyoti Bima Yojna
- 7.Pradhan Mantri Suraksha Yojna
- 8.E-KYC Updation
- 9.Mobile number Update
- 10.Insurance Services
- 11.Loan Services
- Eligibility Criteria for opening a mini branch
- For opening a mini bank, you should be at least a class 12th pass out in any stream either science, commerce, or arts and you should have a good knowledge of computers. You should not be a defaulter in a bank loan. It means you have paid all your bank loans before applying for a mini branch if taken otherwise, you will not get permission to open a mini branch. You should have a shop or house of at least 100 sq. ft and its valid documents or proof. If it is rented or leased then you should have its land proof and rent agreement. You should have no criminal record and you should have a good character also. You south have an excellent or good SIBIL score. It means it should be between 650-900. SIBIL score is calculated by the overall performance of your account. It means that you do money transactions regularly, pay your credit card bill on time and clear your loans on time also. If you do these things, then, your SIBIL score must be excellent or good. If you do not have a good SIBIL score, then, you can not apply and open a mini branch. So, to open a mini branch you should fulfill all eligibility criteria.
- Equipment and documents required for a mini branch.
For a mini branch, you should have a laptop or desktop with a stable internet connection, printer, biometric device, and power back up like inverter, UPS, or generator, So, that the work does not get stuck in the middle. You do not need to purchase these things before opening a mini branch, you will need these things after opening the mini branch because if your application gets rejected, then, you will not need these things. So, purchase it after your application gets approved.
For documents, you will need an Aadhar card, PAN card, passport size photo, police verification certificate, IIBF exam pass certificate, land proof or rent agreement, class 12th certificate, and a good reputation in your village/town.
Process of applying for a mini branch.
For applying for a sbi mini branch, you will need all the above documents and equipment. After that, you need to take approval from the bank manager of your nearest branch. You have to convince him that, why your area needs a mini branch and how you are capable of opening and run a mini branch. After getting approval from the bank manager, you need to consult a verified business correspondent company like Oxigen, Zero mass foundation, Jio payment bank, etc. After consulting them, they will do the full setup of your office and will charge some money. They will also provide you the commissions provided by the bank. This is the role of a business correspondent in opening a mini branch. By following these all processes, you can open and run a mini branch.