Top 10 ATM Installation Companies in India, Rent Your Space for ATM Installation: If you want to Rent Your Space for ATM Installation, then you must read this blog post ahead. In today’s article, we will explain to you the procedure to Rent Your Space for ATM Machine Installation and other details. Thus, if you have sufficient space for an ATM machine to be built or installed. Then you may think of renting it to different banks government or private. And you can earn good monthly money from the rent of ATM installation. So, overall it is a very profitable business for someone who has a vacant space to rent for an ATM installation. Therefore, stay tuned with us and get complete information related to the Top 10 ATM Installation Companies in India.
Rent Your Space for ATM Installation
As you all know, nowadays everything is done online and very few people visit banks to take out cash. With the introduction of cashless transactions in the country, nobody carries cash. But in case you need cash only then it is very difficult for you to find money in cash. You will need to visit a bank and stand in a queue and fill out a form to take out your money. Thus, it will take a lot of time and a struggle to fill out a form and other details. So, the best option to take out some cash is from the ATM. The demand for Automated Teller Machines (ATMs) in metropolitan centers is rising as a result of a growing population. If you possess a commercial property, renting it to banks is a simple way to earn good money.
See the easy and secure guide to Rent Your Space for ATM Installation and its process. Commercial property leasing to financial institutions for ATM installation has emerged as the newest real estate fad, and it is quickly taking on in places like Hyderabad, Bangalore, and Chennai, among others. As a result, it is crucial to lease out your property in a way that ensures it receives consistent rentals in order to recover the money you invested. Currently, the majority of commercial property owners choose to rent their properties out to banks because it is a hassle-free choice.
ATM Installation Expense & Profit
According to the location, space, and quantity of ATMs placed, monthly fees and a security deposit that could range from Rs 2 lakh to Rs 3 lakh are required when leasing out your premises for ATM installation. At the end of the leasing arrangement, the deposit is refunded. Zakir Hussain, a property agent with Topend Realty, explains that there would not be any monthly rent in an ATM franchise system, and you will have to pay for site maintenance, which might cost between “Rs 25,000 and Rs 30,000”.
With white-label ATMs, NBFCs that put up the device might make a minimum of “Rs 15,000 to Rs 25,000”. There will not be any monthly rental money if choosing a franchise ATM system, though. The number of daily transactions will determine how much money is made. Franchise ATM providers receive Rs 15 for each cash withdrawal and Rs 5 for each non-financial transaction. For instance, the total money received is Rs 2,500 if there are 200 transactions per day, including 150 withdrawals and 50 non-financial activities. When all costs are taken into account, the landowner can earn a profit of at least “Rs 50,000 to Rs 60,000” each month.
Requirements for Renting an ATM Installation
For Rural Areas:
|SPACE REQUIRED||50 TO 80 SQ FT|
|MINIMUM AGREEMENT PERIOD||5 years|
|MINIMUM RENT PER MONTH||Rs – 8,000|
|JOB FOR 1 PERSON AS A SECURITY GUARD||Salary Rs. 9,ooo per month|
For Urban/Semi-Urban Areas:
|SPACE REQUIRED||50 TO 80 SQ FIT|
|MINIMUM AGREEMENT PERIOD||5 Years|
|PROCESSING FEES||Rs. 18,500|
|MINIMUM RENT PER MONTH||Rs. 14,000|
|JOB FOR 1 PERSON AS A SECURITY GUARD||Salary Rs. 12,000 per month|
Top 10 ATM Installation Companies in India
Here check the ATM Installation Company that are looking for Rent Your Space for ATM:-
- Hitachi ATM Franchise
- Union Bank ATM Space for Rent
- Kotak Mahindra Bank ATM Spcae for Rent
- Bandhan Bank ATM Space for Rent
- HDFC Bank ATM Space for Rent Contact Number
- Bank of Baroda ATM Franchise
- PNB ATM Franchise
- SBI Bank ATM Space for Rent
- ICICI Bank ATM Space for Rent Franchise
- Axis Bank ATM Space for Rent Online
ATM Leasing Models Categories
Three different models of ATM leasing exist Brown-Label, White-Label, and Franchise ATM.
- White-Label ATM:- None of the banks own White Label ATMs. They belong to the NBFCs. In 2011, the Reserve Bank of India (RBI) approved the opening of white-label ATMs by non-banking firms incorporated in India under the Companies Act. With a sponsor bank and a network provider, these non-banking organizations sign a “Service Level Agreement”. This guarantees cash flow in the ATMs. These ATMs are open to users from any and every bank. Though there is a cost for the service offered by these ATMs.
- Brown-Label ATM:- Brown Label ATM is built on the idea of splitting the cost or contracting out the ATM operations to a different company. Although the sponsor bank provides cash management and network connectivity, the service provider owns the ATM hardware. The sponsor bank’s logo is shown on the ATM machine. For banks, it is a practical and affordable option.
- Franchise ATM:- Getting an ATM franchise is another option to put your commercial space to use. In collaboration with Franchise India, Tata Communications Payment Solutions Ltd. (TCPSL) introduced this approach. Nonetheless, locations with great visibility and foot traffic are desirable in the case of Franchise ATMs.
Procedure to Rent Space for ATM Installation
To rent space for setting up an ATM machine in India, you would need to follow these general procedures:
- Contact banks or ATM service providers:- You can approach banks or ATM service providers like SBI, HDFC, ICICI, Axis Bank, etc. to know about the process of renting a space to set up an ATM.
- Identify a suitable location:- You should identify a location that is easily accessible to the public, has a good amount of foot traffic, and is safe and secure.
- Negotiate terms and conditions:- You will need to negotiate the terms and conditions of the lease agreement, including the rent amount, security deposit, lease duration, maintenance responsibilities, and any other relevant clauses.
- Obtain necessary approvals:- You may need to obtain various approvals from local authorities, such as municipal corporations or police, to install the ATM machine.
- Install the ATM machine:- Once you have finalized the lease agreement and obtained the necessary approvals, you can proceed to install the ATM machine and begin operations.
Important Note – These are the general guidelines, However, the most effective way is you can contact a local broker who deals with providing property on rent to banks and he will complete all the formalities from finding an interested bank to closing the deal. Alternatively, you can advertise in a local newspaper stating that you are interested in providing your space on rent to the bank for ATM installation.