How to give shop on rent for ATM?

I see that a lot of people are interested in renting out their small shops to banks for setting up ATMs. There are many people who say, “

I want to rent my shop for bank ATM.” I will tell you how to give shop on rent for ATM in this answer.

To give shop on rent for ATM, there are certain rules and regulations that have been mandated by the RBI. There is a specific procedure that you need to follow, the basic guidelines are as follows:

• You should own a commercial space with a minimum 25 square feet of lobby space or 50 square feet area.

• Your shop should be located in a busy market area

• In order to rent your shops to the banks or NBFCs, you must submit an application with them.

• In your application mention the following details:

1. Property area

2. Locality

3. Nearby landmarks

4. Complete address

5. Expected rent

6. Contact details

7. Photos of the property/site

•  Your property should be freehold and there should be no mortgages or pending payments on the property.

• Visit the bank with your application on send the application via email on their respective email addresses.

• The bank will conduct due diligence and contact you if your application is approved.

• Further, they shall look into the ATM machine installation and other required procedures and you can sign a lease agreement with them.

The concept of money that you can make by renting your property for an ATM is different from the regular fixed monthly payments.

A franchise earns Rs 15 for every cash withdrawal and Rs 5 for non-financial transactions. The returns are calculated directly on the basis of the volume of transactions at a particular ATM. Experts say that an ATM starts making money when it clocks 100 transactions per day. The rent can be anywhere between Rs. 25,000 to Rs. 1,00,000.

From a personal experience I must tell you that if you are planning to rent atm space, just go for it without a second thought. My father was hesitating initially to rent his space but after talking with a lot of people, he ultimately agreed. SBI released a leaflet in the month of March 2020 stating that they need space for the installation of an ATM. They were planning to install about 600 ATMs so we were quite sure that they might be interested in our space as well since it is located on the roadside and there is no ATM near us and it did happen. 

You will need to contact the bank first and then obtain the application form. If you get a leaflet like we got, you will be able to read everything there, if not, just ask the bank for the form and proceed as needed. Do tell them that I

want to give my shop on rent so please mention the process and they will tell you what to do and which documents to bring.

Still hesitating to give your shop for ATM renting? I am a huge fan of Abhsihek Bacchan and read the news that he and his family gave their property In Juhu on rent to SBI and is earning a huge amount of money every month. They have given it for 15 years in 2021 and have been promised that in the upcoming years, they will be given more money. We do not yet know how much hike there will be in the future for us but yes, we are expecting to get more definitely. 

Yes. One needs to pay a security deposit for atm shop rent. My father paid 2 lacs but it will vary upon the location of the space. You will get the money once the agreement gets terminated so there is no question of loss.

I hope I have been able to explain what to do to

rent atm space

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