Answer ( 1 )

  1. 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.

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    How much money can you make?

    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.

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