In this busy life schedule, most people avoid visiting the bank for money withdrawal because they can easily do this work with ATMs. That’s why the requirements for ATMs in the city increasing continuously. In India, the State Bank of India is the most famous Bank and most of the citizens hold their accounts in the SBI Bank. This is India’s largest public sector bank and this band offers various types of banking services to the customers. Recently, SBI has also approved the White Label ATM services which are permitted by the RBI.
According to this permit, Non-Banking Financial Companies (NBFCs) can operate ATMs in rural areas and only a few in semi-urban and urban areas. Under this policy, SBI Bank has offered the SBI Bank ATM Space for Rent Franchise. And installing an ATM is one of the profitable sources of additional income in India. Where you have provided the commercial space to rent out to banks or financial institutions. If you are interested in this Franchise model so apply for it online very simply.
Here you can find out the Step-by-step online procedure for applying for the SBI Bank ATM Space for Rent Franchise. Kindly follow the given-mentioned steps carefully:-
First of all, you have to make a contact with Non-Banking Financial Company regarding the installation of an ATM.
Then you have to fill out the application form which includes some basic details like area, and nearby landmarks, and Submit it to the NBFC.
After the submission of the Application, you have to wait for the approval of your application by NBFC.
In this process, the NBFC team analyzes your problem to check how crowded the area is as per the need of the ATM.
Always remember guys, the bank prefers freehold properties, which are neither mortgaged nor loaned.
When your application has been approved, the applicant has to provide all the required information in the standard prescribed form.
Finally, the bank will enter into a lease agreement with you regarding the property.
We hope guys, you will get proper information on the Procedure to Apply for SBI ATM Franchise 2024 Online. The Bank never installs its ATMs in your location, this process is done by a third-party company. If you wanna more information on this topic so drop your queries in the reply section.
Important Documents for SBI Bank ATM Installation Registration
When you are applying for the SBI ATM Installation Franchise the bank needs some Documents for the verifications. We have provided the all the documents in the given mentioned list:-
Things you should know before applying for the SBI Bank ATM Space for Rent Franchise
If you are ready to apply for the SBI Bank ATM installation on your property, you must read all the Rules and Guidelines for ATM Installation. If their guidelines and rules do not match with property details they can reject your application.
A 50–80 square foot area should be available for the installation of the SBI ATM.
Your location must be 100 meters away from another ATM.
This area has to be on the ground floor and have sufficient light.
Here, you must guarantee a 1 kW power connection and a 24-hour power supply.
About 300 transactions should be able to be processed with this ATM each day.
The ATM should be replaced with a concrete roof. How to set up the SBI ATM.
Parking should be available in front of the area if it is to be on the ground floor.
The installation of V-SAT does not require a certificate of no objection from any authority or organization.
Subject: Proposal to Rent My Property for ATM Installation
Dear franchise forums,
I hope this message finds you well. I am writing to express my interest in renting out my property located at near the toll booth thoppur toll plaza, nallampalli,Dharmapuri for the purpose of ATM installation.
The property meets the typical requirements for an ATM setup, including:
Prime Location: High footfall area, close to mention nearby landmarks.
Space Availability: width:10 feet ,depth:20 feet, ideal for ATM operations.
Facilities: 24/7 electricity, water supply, and easy accessibility.
I believe this property can serve as an excellent location for your ATM and contribute to enhanced customer convenience. Please let me know if a site inspection or additional documentation is required. I am open to discussions regarding rent and other terms.
