You much have heard about people who have given their property to a bank and making good money out of it. if not, then no problem! Today, you will learn a new way of making money by renting out your shop to a bank for ATM machine installation. You must be thinking that how to approach a bank for ATM installation on your property? Well, it is not difficult! In this article, you will learn complete procedure on how to rent out your property to a bank for ATM machine installation.
First of all, you have to understand several criteria on the basis of which a Bank decide location of ATM machine.
How do Bank select location for ATM Installation?
Gone are the days when banks used to install ATMs at high traffic and posh locality. These days, Banks are looking for every possible place with moderate foot traffic. You must have seen ATM machines in a small colony where there is not much traffic. However, it does not mean that you can get it installed in a ghost colony.
Criteria for ATM installation
Location – A good known locality with moderate foot traffic. A junction where one can reach several locations. If location is near to school, college, hospital, corporate office, Government office, railway station and bus station then you are lucky because banks are hungry for this area.
Property Type – You property which you are renting for ATM installation should meet some guidelines which are mentioned below:-
- Ground floor property/shop is a must
- Appearance of the building should be good.
- Not outside road area. It means, it should be easy to access from roads.
- It is added advantage if parking facility is available.
- If property is not commercial type then the landlord has to arrange for commercial approvals from the Municipal Authorities.
- Minimum required load of 6 KVA needs to be arranged by the landlord. Load depends on area and number of ATM machines to be installed.
- Rolling shutters should be provided by landlord.
- V-SAT antenna installation space on the roof (Depends on bank)
How to Apply For ATM installation?
Generally, the banks will publish advertisements in local newspapers for inviting offers from landlords for ATM installation in selected location. You can also contact the nearest bank directly for ATM installation.
You can also contact Banks directly but chances are very less that they will accept your offer. The decision of ATM installation is taken by the marketing department. The marketing department of the bank will publish an advertisement on newspaper asking landowners to submit their application before the specific date.
Check Tender Section On their Website For Atm Installation
Regularly check tender section on banks website for open tenders for ATM installation. I have mentioned some links below which you should check regularly:-
https://www.vijayabank.com/Tender/Open-Tenders
https://www.sbi.co.in/portal/web/home/procurement-news
https://www.pnbindia.in/Tender.aspx
https://www.icicibank.com/notice-board.page
Similarly, you will find tender section in every bank website where they publish requirements for ATM installation. You should check them regularly.
