5 useful services provided by the ATM


Many still things ATM machines are only for cash withdrawal and balance enquiry but that is not true. Now ATM’s are becoming more useful than before thanks to technology. Banks are now driving its usage with the concept of branchless banking.

Uses of ATM

We have listed out 5 important services that you might not know your ATM can do.

You can apply for personal loan in ATM

Now you can apply small personal loans using ATM. As some of the private sector banks offering pre-approved personal loans to their customers based on their credit history like account balance, salary, credit card repayments etc. Banks like HDFC offers small ticket personal loans for customers using ATM’s as the point of disbursal.

Pay insurance premium

Most of the Insurance companies have tied up with banks to facilitate premium payment through ATM’s. Just insert your card, go to services ‘Bill Pay’, select your insurer provider, enter policy number and date of birth, then enter premium amount and make payment.

Open or withdraw your fixed deposit in ATM

Now, you can open a fixed deposit without visiting a branch using an ATM. Banks like ICICI allows to open FD for tenures of 390, 590 ,990 Days and for amounts between Rs 10,000 to Rs 49,999. Select ‘Open Fixed Deposit’ on the ATM machine, select the duration and amount to confirm.

Pay income tax in ATM

You need to register your debit card with your bank’s website or branch to avail for ATM payment of tax. Once your registration is done, you can go to the ATM to pay your advance tax, self assessment tax and to pay any tax dues after regular assessment.

Once the amount you have chosen deducted from your account, the ATM will generate a receipt with unique (CIN) number. You can visit your bank’s website after 24 hours and print/download the challan using the CIN. This CIN has to be quoted when you file your tax return later

Deposit cash using ATM

Now many banks have installed Cash Deposit Machines in ATM sites. These machines help to deposit your cash directly into the machine without much hassle. One can deposit up to 200 currency notes and Rs. 49,900 in a single transaction. The Cash Deposit Machines accepts denominations of Rs.1,000, Rs.500 and Rs.100.

Other useful services provided in ATM’s are Cheque Deposit, Mobile Recharge, Credit Card Payment, Utility Bill Payment, Cheque Book Request, NGO Donations, Apply for Personal Loan, Railway Ticket Booking etc.

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