PNB Bank ATM Space for Rent Franchise: Apply Online, Form, Contact Number: This Article covers How to get a Dealership of Punjab National Bank, How to sell Punjab National Bank ATMs in India. In today’s fast-paced world, people are increasingly relying on ATMs for their banking needs. The advent of ATMs has revolutionized the banking sector, providing customers with convenient access to their funds 24/7. This growing reliance on ATMs has created a surge in demand for commercial spaces suitable for ATM installation. Here we have provided you with all the information related to PNB Bank ATM Space for Rent Franchise Apply Online, Form, and Contact Number in detail.
PNB Bank ATM Space for Rent Franchise- Highlights
|Article||PNB Bank ATM Space for Rent Franchise: Apply Online, Form, Contact Number|
|Topics||PNB – Punjab National Bank|
|Space Requirement||As per RBI Guideline|
|Minimum Rental||Rs 15000/- Per month|
|Maximum Rent||Rs 25000/- Per Month|
|Rent Lease Period||Minimum 1 Year to 5 Year|
|Leasee||Owner of Commercial Space|
|Leaser||Bank, NBFC, and Franchise|
|Mode of agreement||Offline|
|Mode of Application||Online/ Offline|
Installation Process of ATM
There are some general guidelines for applying for an ATM set-up on commercial property are listed below.
- Fill an application in a bank or Non-Banking Financial Company (NBFC) for ATM installation.
- The application should comprise complete details of the property such as area, locality, nearby landmarks, etc.
- The institution will review the proposal and will identify the demand and footfall in the area and accordingly process the application. Typically, banks prefer freehold properties that do not have any mortgages or encumbrances.
- On the approval of the application, the applicant has to submit any other required details in the standard prescribed form.
- The landlord has to also provide space for a server room and dish facility for network connectivity.
- The institution will enter into a lease agreement with you pertaining to the property.
Minimum Space for ATM Installation
The minimum space required for ATM installation is 40 sqft to 100 Sq. ft and for banks is 1200 Sqft to 4000 Sqft. The ATM installation or Bank rental can be done in shops as well. If you have plots or shops in any commercial or sometimes residential area.
Other Important Points for PNB Bank ATM Space for Rent Franchise
- Electricity bill to be paid by the bank at actual;
- Municipal/corporation taxes to be paid by me;
- Lease deed registration charges are to be paid equally by the parties;
- Yearly maintenance and any repair will be carried out by me;
- Rent is to be paid in advance by the 5th day of every month;
- The notice period for termination of the lease deed is 2 months.
Installation Charges of ATM
To initiate the ATM installation process, certain expenses need to be considered. These expenses are as follows:
- Security Deposit: A security deposit of Rs 2 Lakh is required to secure the agreement for the ATM installation.
- Operating Cost: The estimated operating cost for the ATM installation is Rs 3 Lakh.
- Required Space: The space required for ATM installation ranges from 50 to 80 square feet.
- Electricity Capacity: A power connection of 1 KVH is necessary to provide the required electricity supply for the ATM.
- Construction Requirement: A permanent structure with a concrete roof is needed to ensure a suitable environment for the ATM.
Essential Requirements for an ATM Franchise
- ID Proof
- Address Proof
- Bank Account and Passbook
- Photograph, E-mail, and Phone No.
- Other Documents/Forms as required by the company
- GST Number
- Financial Documents required by the company
- No objection certificate from the nearby society.
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FAQs related to PNB Bank ATM Space for Rent Franchise.
Q1. 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.
Q2. 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.
Q3. How much rent can I expect for providing 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.