How to Rent a Suitable Commercial Space for Bank and ATM Installation?

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How to Rent a Suitable Commercial Space for Bank and ATM Installation?

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October 27, 2020

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Gauri K · Answer 1 · 2020-10-28T11:54:24+00:00

Gauri K

9 October 28, 2020

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For renting out your commercial space to a Bank: You will need to get in touch with the Regional Manager of the concerned Bank. Then you need to provide him/her with complete details and documents of the property along with a written application. He/she will analyze your application and then accept or reject the application. I would suggest that you select a bank which does not have an ATM/Branch in 2 km radius. For ATM installation: 1. You will have to file an application in the bank for ATM installation with complete details of the property including the area, locality, nearby landmarks, etc. 2. Depending on the demand and footfall in the area, the bank will accept or reject the application. 3. Minimum space required for ATM installation is 10 ft by 10 ft. 4. You will also need to provide a space for server room and facility of dish for network connectivity 5. The rent can be anywhere between Rs 60 per sq ft and Rs 150 per sq ft. However, this might vary depending on the prevailing market rates and also the number of ATM transactions per day.

Pranjal Saini · Answer 2 · 2021-05-20T20:11:57+00:00

If you have a commercial space or a shop and you are planning to put it on rent to a Bank Then you should know a few things beforehand. Not every commercial space can be taken as bank space. Generally when a bank needs rental space, that specific bank publishes the advertisement with property requirements that bank is looking for. If your property meets the criteria then you can participate by applying your application with the property documents such as sale deed, title deed, NOC to the concerned bank. The bank will collect the application and will announce the shortlisted applicant through advertisement.

If you have a shop then you can lease your property for ATM installation , now you must be wondering how to rent your space for an ATM. Here I will explain to you everything to rent out space for atm. Mandatory details for ATM space required by the bank. If your property falls under these requirements then your property is eligible for ATM installation:

The property should be in a commercial area or in a developed residential area
The surface area of the property for ATM installation should be 60 to 100 square feet .
The sealing should be made of concrete, for a B-set setup.
The applicant should be holding NOC for B-set installation or a written application signed by all the residents of the building.

Process rent your space for ATM machine: To rent out your property for a bank ATM you need to visit the concerned bank and apply to the branch manager. Once your proposal is reviewed then the bank authorities will visit your property. If your property is approved by the bank authorities then you will be called to the bank for further process. Where to visit for ATM installation in your property

Public Sector Banks
Private Sector Banks
NBFCs
Muthoot ATM

You can also post your property at NoBroker Click here to list your property for rent absolutely FREE! Unable to find the right tenants for your commercial property? Let NoBroker Experts help you. Check out NoBroker Owner Plan and get genuine tenants quickly without any hassle.

Nimish · Answer 3 · 2021-07-19T10:22:23+00:00

Buying property for investment purposes is awesome. But what if you make a source of earning out of it. If you have a commercial property which is lying vacant in a busy market, then you might be missing out on an opportunity to make lucrative deals and lots of money. These days if you consider to rent your property to bank, it will be a great deal. In this answer I will tell you steps to follow to give space for bank on rent for ATM. Mind you, there are a few prerequisites for that as well. Continue reading to know everything about how to rent space for ATM. How to rent your property to bank? The first step is to know how to approach the bank to give them your property on rent. Here are a few points that will help you.

Keep an eye out for newspaper ads. Usually, there is an advertisement regarding space for bank on rent along with requirements suitable for their purposes. Banks print out ads to attract proposals.
Another way is to check bank websites. Banks upload ads on their websites too to get proposals from the interested parties. They have a certain deadline till which the property owners can submit their property details and proposal.
You can ask around in the banks by visiting them personally and asking if there is any requirement.

Requirements to be fulfilled to rent your property to bank There are certain requirements which must be fulfilled if you want to rent your property to any bank of India. Here is a quick list for you:

What is the carpet area of your property?
Provision for ATM installation in the property.
The minimum lease period as bank states should be met.
The property should have all the necessary permissions from concerned local authorities for commercial usage.
Property owner should seek necessary permission from the local authorities to install an ATM at their own cost. The banks provide a layout for the same.
The property title, allotment letter, tax receipts, clearance from authorities, approved building plan, and encumbrance certificate should be available with the owner in case it has to be submitted with the bank.

Details to be submitted for providing space for bank on rent There are a few details which must be submitted to gain interest from the bank:

Name and contact details of the property owner
Contact details of the person(s) to be contacted
Particulars of the property to be leased: name of the building, postal address with PIN code, location (commercial, residential or commercial cum residential), present status of building, date for possession of the property, status of proposed construction requirements from bank, boundary details, height and width, sewage details, facilities available, flooring details, AC units, security systems, etc.
Declaration by the property owner

Once you are past these requirements, it will be easy to rent your property to bank. I hope this was helpful.

Vaishali Kakkar · Answer 4 · 2022-03-28T19:24:14+00:00

Vaishali Kakkar

4 March 28, 2022

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Hi, My father owns a commercial property and wants to rent it out to a bank for the installation of ATM. However, we were very much confused about, how to rent out commercial property to banks. It was during that time I started looking for renting options and procedures, and I came across these afore-mentioned solutions. I would like to extend my gratitude to all these above solutions which gave us an idea. We would like to thank Mr. Pranjal Saini’s answer about commercial space for bank ATM. He mentioned that the ceiling should be made of concrete, for a B-set setup. Hence, we took our first step regarding the construction of the concrete ceiling. As Nimish said, keep a watch out for newspaper advertising. I did that for a month until I came across an advertisement for XYZ bank's ATM installation space. I also took Gauri madam’s advice to get in touch with the regional manager of the bank. Hence. I visited the manager and submitted all the documents required for verification. Ultimately after a month, the bank rented our property for installing ATM. We were relieved and would like to extend thanks to all the above solutions for how to rent out commercial property to banks. Post your property for free and find tenants right now. Read More: How To Rent Out Property To Bank?

Shreya Tudu · Answer 5 · 2022-11-02T20:59:37+00:00

I have observed that the need for ATMs in metropolitan centres is rising along with the population. However, following a severe COVID-19 outbreak, our government is supporting online payments or a cashless India. But, due to a lack of technology or education, many consumers still do not trust internet payment methods. Because of this, ATMs are required in so many locations. Therefore, if you believe that there are no bank ATMs in your area, you will need to go a considerable distance in order to use an ATM. But if you have an ATM space for rent, you can follow the steps mentioned by Miss Gauri and also follow my answer to understand more about it. Post a free ad for your property on NoBroker, here. Check out the owner plans of NoBroker to find tenants quickly.

Select the leasing model for bank ATM space for rent:

There are two types of ATM leasing models. White Label ATM: None of the banks owns white label ATMs. They belong to non-banking financial institutions (NBFCs). In 2011, the Reserve Bank of India (RBI) approved the opening of White Label ATMs by non-bank firms registered in India under the Companies Act. With a sponsoring bank and a core network, these non-banking organisations sign a "Service Level Agreement" that guarantees cash flow in the ATMs. These ATMs are open to users from any bank, although there is a cost for the service. These ATM transactions are all charged. Franchise ATM: By purchasing an ATM franchise, you can make use of your commercial space in another way. Tata Communications Payment Solutions Limited (TCPSL), HITACHI MONEY SPOT ATM, and Franchise India have jointly launched this model. However, locations with great visibility and traffic are preferable for Franchise ATMs.

How much will you earn by ATM installation rent?

Depending on the ideal location, the rent will range from Rs. 35,000 to Rs. 80,000 per month. Here, the rental income is primarily determined by the location. However, the rental income for banks and ATMs is often five times higher than the average rental income.

Minimum Space Required

A minimum of 40 to 100 square feet is needed to construct an ATM, and 1200 to 4000 square feet is needed to install a bank. Shops can also have ATM installations or bank rentals made.

Letter to Bank, Offering ATM space for rent

The following is a sample letter structure for suggesting a location for an ATM installation: Date:__________ To, The Manager [Name of the Bank] [Branch] (Branch Address) Sub: Proposal providing space for an ATM. Dear Sir/Madam, I'm sending you this to let you know that I have a great commercial space (write your location here). There are numerous corporate offices, retail establishments, and everyday business locations nearby, yet no bank's ATMs are present within 1.5 kilometres of this location. So, in order to install an ATM machine for your prestigious bank, I would like to make my commercial space available for lease. The details of the premises are given hereunder:

Full address of the property is:
Distance from the main road:
Floor area in square feet:
Carpet Area in square feet:
Age of Building (Year of Construction):
Monthly lease rental charges as proposed:
Deposit for security with no interest:

If you are interested in the aforementioned property, you can reach me at [mobile number] or by [email]. I have legal ownership of the aforementioned property. You are welcome to visit the property at any time between the hours of 10 am and 6 pm. I am a really considerate and helpful individual. I anticipate working with your bank on a long-term basis. Thanking you. Yours faithfully, (Your Name) Encl: Photographs of Premises. I hope now you understand more about the process of ATM space for rent to bank. Read More: How to approach banks to provide space for bank branches? How to give shop on rent for ATM?

Rashmita · Answer 6 · 2023-05-21T07:12:24+00:00

My father had a commercial property, which he wanted to rent out. My sister proposed letting out the commercial property to banks and NBFCs for ATM installation. In addition to major cities like Hyderabad, Bangalore, and Chennai, among others, the practice of ATM rent your space is quickly taking on in Tier-2 cities. As a result, I approached the SBI bank manager and enquired whether they have any ATM shop rent requirements. The manager informed me that the accepted ATM room size is a minimum of 500 square feet. Calculate your EMI on a home loan via the NoBroker EMI calculator Apart from this, there are some other requirements like,

Class-B concrete should be used for the ceiling, and all of the building's occupants must provide their approval.
Additionally, the landlord must make a place for a server room and arrange for network connectivity to be installed on the roof.

I’ve provided the following list of the general requirements for applying for an ATM on business property.

Make an application for the installation of an ATM at a bank or NBFC.
The application should contain all relevant information about the property, such as location, neighbourhood, and adjacent landmarks, among other things.
The institution will examine the application, evaluate the demand and traffic in the area, and process it accordingly. Banks typically favour freehold properties without mortgages or encumbrances.
Following application acceptance, the applicant must submit the necessary information in the standard approved form.
In addition to renting out space for ATM installation, the landlord must also set up a server room and a network connectivity facility.
With regard to the property, the institution, and the landlord will engage in a lease arrangement.

The ATM rent that banks provide ranges from Rs 60 per square foot to Rs 200 per square foot. However, this might vary depending on the current market rates, whether the ATM is located in an urban or rural area, and the daily possible transaction volume. Post your commercial property for rent here and let tenants find you Avail NoBroker’s Commercial Owner’s Plans and save thousands on brokerage Read More: How to Give My Property on Rent to an ATM? How to rent a suitable commercial space for bank and ATM installation? How to give shop on rent for ATM?

Indrani · Answer 7 · 2023-08-17T10:06:21+00:00

Our house is just beside the main road, and that is why our neighbour was able to rent his shop for SBI ATM installation easily. I had no idea how to give shop on rent for ATM, so I asked that neighbour to share the process. After all, it is a good strategy to buy commercial space and rent it to banks. You can actually earn a good sum of money. Here is his answer to the query: how to give shop on rent to atm-

How can you rent a space to bank ATM?

He rented out his shop to SBI so let me share what needs to be done to rent a commercial bank to SBI. Documents required:

Voter ID
Address Proof
Pan Card
Aadhaar Card
Electricity Bill
Additional Information
Telephone
Financial Documents
Photograph of a passbook or bank account
Email Address
Rashan Card
GST Number

Area requirements:

The space should be at least 50-80 square feet
It should be 100 metres from the nearest ATM
Ground level should be great
ATM’s ceiling is fixed Business NOC from the municipality and permission to use V-SAT
The space should be in a populated area

Now to answer how to give space for rent to bank ATM, he said that one must visit the bank and get it done. You cannot post properties online and expect bank officials to reach out to you. You can check newspaper ads to see which bank is in need of space and rent accordingly. But it is better to visit a few banks and ask them whether they are in need of such a space or not. Get tenants quickly and pay no brokerage. Avail NoBroker’s Commercial owner plans Read More: How to Give My Property on Rent to an ATM? How To Rent Out Property To Bank? How to rent a suitable commercial space for bank and ATM installation? How to give shop on rent for ATM?

Mohammad P · Answer 8 · 2024-03-18T10:53:12+00:00

Hello there, I saw you asking how to rent shop for ATM and can help you with the process. I recently gave up my commercial property in Delhi for the installation of an ATM. So, I’ll share the process for that with you.

How to Approach Bank for ATM Space?

The first thing you need is a suitable location. Your space should either be in a well-developed residential or a proper commercial area of the city for easy access.
You must have a minimum space of 500 square feet for the installation of an ATM. Apart from this, a power source and internet are also needed.
You’ll have to apply for a license from the Reserve Bank of India. They will approve your application first before you can take any further steps.
Then, you can contact a suitable bank and submit an application in the form of a letter. Shreya has shared the format in her answer, so you can refer to that.
Once your application is approved, you can install the ATM as per the guidelines of the bank.
You’ll have to look for a suitable ATM provider with a good reputation. A contract will be signed between you and the ATM provider.
After the installation, the bank will send a representative to test the machine and see that it functions properly for public use.

This is how to give building on rent to banks. Moreover, recently I came to know from my neighbour that I can also use “Post Your Property” via NoBroker for free to get my commercial property rented out easily. I hope this helps. Rent your Property and Save Up to 50k on Brokerage via NoBroker Commercial Plans! Some related information: How to give shop on rent for ATM?

How to Rent a Suitable Commercial Space for Bank and ATM Installation?

Select the leasing model for bank ATM space for rent:

How much will you earn by ATM installation rent?

Minimum Space Required

Letter to Bank, Offering ATM space for rent

How can you rent a space to bank ATM?

How to Approach Bank for ATM Space?

Leave an answer

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How to Rent a Suitable Commercial Space for Bank and ATM Installation?

Select the leasing model for bank ATM space for rent:

How much will you earn by ATM installation rent?

Minimum Space Required

Letter to Bank, Offering ATM space for rent

How can you rent a space to bank ATM?

How to Approach Bank for ATM Space?

Leave an answer

Related Questions

Recently Published Questions

Flat 25% on Painting | Top Quality Paints | Professional Tools | Verified Partners

Revive Your Space with Expert Cleaning!