SBI Bank ATM Space for Rent Franchise, Apply Online, Contact Number

Everyone knows about State Bank of India (SBI) today because there are very few people in India who do not have an account with SBI, it is India’s largest public sector bank and this bank provides many types of banking services to its customers. Many types of facilities such as savings accounts, loans, insurance, and trading accounts are provided by this bank. SBI bank also provides many types of loans like home loans, business loans, car loans, etc. It provides services at a good interest rate. Here we have shared with you all the information related to SBI Bank ATM Space for Rent Franchise Apply Online, Registration Form, Contact Number, etc. Stay tuned for more updates.

SBI Bank ATM Space for Rent

With the growing population in all Indian cities, the need for ATMs is also increasing as getting basic access to financial services has become a vital necessity. Recently 7 NBFCs have been permitted by RBI to open White Label ATMs. White Label ATMs are those ATMs that are operated by Non-Banking Financial Companies (NBFCs). RBI has mandated all participating NBFCs to open a certain number of White Label ATMs, most of which are to be opened in rural areas and only a few in semi-urban and urban areas.

For example, one of the NBFCs called Tata Communications Payment Solutions has been mandated to open 15,000 white-label ATMs, of which 10,000 will be set up in rural areas and 5,000 in metros and urban cities. So let us see all the details about SBI Bank ATM Space for Rent Franchise Apply Online along with the Requirements, Cost, Profit, and Inquiry Contact Number through this post below.

SBI Bank ATM Installation/ Franchise Process – Highlights

Post Topic SBI Bank ATM Franchise Apply Online
Bank Name State Bank of India (SBI)
Category Rent Your Space for ATM Installation
Space Requirement 50 – 80 sq. feet
Minimum Rental Rs 15000/- Per month
Maximum Rent Rs 25000/- Per Month
Rent Lease Period Minimum 1 Year to 5 Year
Leaser Bank, NBFC, and Franchise
Mode of agreement Offline
Mode of Application Online/ Offline
Official Website

Documents Required

  • Aadhar Card, PAN card, Voter Card.
  • Ration Card, Electricity Bill
  • Bank Account with Passbook.
  • Photograph Email ID, Phone Number.
  • GST Number.
  • Complete the Property Document with the Address.
  • Lease Agreement.
  • NOC
  • SBI ATM Franchise Registration Form

Rules and Guidelines for ATM Installation

  • There should be a space of 50-80 square feet to install the SBI ATM.
  • Its distance from another ATM should be 100 meters.
  • This space should be ground floor and in a place with good visibility.
  • Here you have to ensure 24 24-hour power supply, 1 kW power connection
  • This ATM should have a capacity of around 300 transactions per day.
  • There should be a concrete roof in place of an ATM. How to install SBI ATM.
  • If the space should be on the ground floor, there should be space for parking in front.
  • No objection certificate is required from the society or authority for the installation of V-SAT.

Procedure to Apply for SBI ATM Franchise 2024 Online

If you want to apply for SBI ATM Franchise Installation in your space, then you can apply online from the official website of the company that installs ATMs because the bank never installs its ATMs, it gives the contract to a third-party company that installs ATMs. Some big companies inside India seem to be ATMs Installation Process:-

  1. File an application with the bank or Non-Banking Financial Company (NBFC) for the installation of an ATM.
  2. The application should have all the details of your property like area, nearby landmarks, and other information.
  3. The bank or NBFC will review your application see how crowded the area is and proceed accordingly. Banks generally prefer freehold properties, which are neither mortgaged nor loaned.
  4. After the application is approved, the applicant has to fill in all the necessary information in the standard prescribed form.
  5. Now the bank will enter into a lease agreement with you regarding the property.

NOTE:- ATM franchise is a great business option if you have a minimum of 25 square feet of lobby space or 50 square feet of shop in an area that needs an ATM or is located in a busy market area. Indicash – in association with Tata Communications Payment Solutions is one of the leading and fast-growing companies to open White Label ATMs.

SBI Bank ATM Space for Rent Contact Number

Toll-free number 1800 1234
Other Numbers 1800 2100 | 1800 11 2211
Customer Care No 1800 425 3800
Toll number 080-26599990
Email IDs [email protected]
[email protected]
SBI ATM Franchise Application Form PDF Download Here
List of Top 10 Rent Your Space for ATM Installation in India

Frequently Asked Questions (FAQs)

Q.1 How can I rent out my space for ATM installation?
Ans. To rent out your space for ATM installation, you can directly contact the contractor companies associated with banks.

Q.2 What are the criteria for renting out space for ATM installation?
Ans. The specific criteria may vary depending on the contractor companies and banks involved. Generally, they consider factors such as the location of the space, accessibility, footfall, available infrastructure, and security measures.

Q.3 How much rent can I expect to provide space for ATM installation?
Ans. The rental amount for ATM space can vary depending on various factors, including the location, demand, and negotiations with the contractor companies.

READ ALSO: HDFC Bank ATM Space for Rent – Application Form

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