Nirmal Bang Franchise or Sub Broker – Find Revenue Sharing, Security Deposit and more

Primarily Nirmal Bang Franchise works as a Sub Broker with some other related services. To begin with, we will discuss some of its main highlights. They share 50% – 70% as revenue, which is decent and industry standard.

Their average payout time is typically a month, while the SB code activation time generally is between 20-30 days.

However, you may feel disheartened by the fact that Nirmal Bang Sub Broker charges between ₹75,000 to ₹2,00,000 as an initial investment. This initial investment money is quite high compared to other rival companies.

Nirmal Bang Sub Broker Highlight
Top Business Model Sub Broker
Initial Investment Required Rs.75,000 – Rs.200,000
Revenue Sharing 50% – 70%
Payout Time 1 month
SB Code Activation Time 20-30 Days

NIRMAL BANG Franchise SubBroker

What do you know about Nirmal Bang Franchise?

Before you genuinely consider Nirmal Bang Franchise to become your business partner, you should first know its origin story. For starters, they are a private limited company established in the year 1986.

Naturally, a company having 33 years in this business has to be a full-service stockbroker. Nirmal Bang Sub Broker is founded by the dynamic Nirmal Bang, who is still the CEO of the company.

We have already mentioned the average pay-out time is one month, and the SB code activation takes approximately 20-30 days.

Nirmal Bang Business Partner Overview
Here is the overview of Nirmal Bang Franchise
What type of Company is it? – Public / Private Private
What is the Broker type? Full Service Broker
Where is the Headquarter located? ‎Mumbai, India
Who is the Founder? Nirmal Bang
What is the year of establishment? 1986
How many days does it take for SB Code Activation? 20-30 Days
How many days/weeks it takes for Payout? 1 month

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    What are the various Business Models does Nirmal Bang Sub Broker Program provides?

    Let us start the discussion with what Nirmal Bang Franchise is not. To begin with, they are not a Remisier agency.

    So, they don’t get a fixed commission to work as an agent in a stockbroking company. Nirmal Bang doesn’t even support Master Franchise, nor do they offer any particular referral program.

    • Sub Broker / Authorised Person

    Nirmal Bang Sub Broker / Authorised Person

    What they are is a Sub Broker, and they are associated with all the stock trading activities, but not a direct members. They are, however, registered to SEBI, and follow all its guidelines.

    Nirmal Bang Franchise Business Models
    Know about various Business Models of Nirmal Bang
    Is the Sub Broker business model available? Yes
    Do they provide Referral Program? No
    Do they provide Master Franchise Model? No
    Does this broker provide Partner / Remisier model? No

    How does Nirmal Bang Sub Broker Revenue Sharing work?

    Since Nirmal Bang doesn’t offer services via referral programs, there can’t be any percentage to share.

    The same applies to services like Master Franchise and Remisier. As both of these services are not being covered by them, no revenue sharing is applicable.

    Now, Nirmal Bang Franchise revenue sharing is only applicable to their Sub Broker services.

    So, the Nirmal Bang Sub Broker commission rate revolves between 50% – 70%. This commission rate’s lower threshold is a bit flat compared to other Sub Broker companies.

    Nirmal Bang Sub Broker Revenue Sharing
    Find the details of Nirmal Bang Sub Broker Commission for all Business Models
    What is the revenue sharing for Sub Broker program? 50% – 70%
    Do they provide revenue sharing or direct pay for Referral Program? NA
    How much is the revenue sharing Master Franchise business? NA
    How much is the revenue sharing required for Partner / Remisier model? NA

    Know about Revenue Sharing of other Sub Broker Franchise

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    What is the Nirmal Bang Business Partner Security Deposit requirement?

    Again, we must talk about the services that Nirmal Bang doesn’t deal like a referral program, where the security deposit is not applicable. The same rule applies to the services related to Master Franchise and Remisier.

    They don’t offer these services, so no question about security deposits. However, Nirmal Bang Franchise cost applies only to its Sub Broker services.

    The minimum Nirmal Bang Sub Broker investment has to be ₹75,000, while it can range to a maximum of ₹2,00,000. Now, the upper limit is way off the charts if you compare.

    Nirmal Bang Franchise Security Deposit
    Check the Nirmal Bang Franchise cost requirement for each business model
    How much is security deposit required for Sub Broker Program? Rs.75,000 – Rs.200,000
    Is there any security deposit required for Referral Program? NA
    What is the initial investment required for Master Franchise Model? NA
    What is the deposit required for Partner / Remisier Model? NA

    What are the various Offers rolled out by Nirmal Bang Authorised Person Program?

    When it comes to Nirmal Bang Franchise offers, quite a few critical services are missing. The likes of flat revenue sharing are missing; so is the zero-revenue sharing with prepaid service. You can also add a zero deposit offer to this missing service list too.

    However, Nirmal Bang Sub Broker offers excellent flexible revenue-sharing plans. They also provide the 10k initial deposit offer as well, which is very essential for new clients.

    Nirmal Bang Sub Broker Offers
    Here are the list of Nirmal Bang Franchise offers available to the clients
    Do they provide Flexible Revenue Sharing offer? Yes
    Are they providing Flat Revenue Sharing offer? No
    Do they offer Zero Revenue Sharing model with Prepaid payment? No
    Do they provide Zero Deposit scheme? No
    Are they offering 10k Initial Deposit scheme? Yes

    Check out the various offers of other Sub Broker Providers

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    What are the various Supports provided to Nirmal Bang Business Partner?

    The elite Nirmal Bang Partner support includes quality Acquisition Training so that you can set up your business fast.

    Then they follow it up with a Dealing Training, which will let you learn how to deal with clients of every magnitude.

    Then comes their supreme Product Training session, which is necessary and helpful to understand the products and services they offer.

    Nirmal Bang Franchise support is not complete without their Trading Support, Back-office Support, and Marketing Support.

    All of these support services bring so much value in their overall business support. However, the only thing missing here is an Advisory Support, which we believe they should have implemented by now.

    Nirmal Bang Business Partner Support
    Here are the various Support Nirmal Bang Franchise needs to provide to their clients
    Do they provide Acquisition Training to their associates? Yes
    Do they provide Training for Dealers of their sub brokers? Yes
    Are they providing Product Training for their business partners? Yes
    Do they provide Back-Office Support for their authorised person? Yes
    Are they providing Trading Support to their business partners? Yes
    Are they sharing Advisory Support with their partners? No
    Does the broking house provide Marketing Support to their sub brokers? Yes

    Which is the Infrastructure required for Nirmal Bang Sub Broker Program?

    Now, as we have learned how they work, it is time to know the Nirmal Bang Sub Broker Infra requirement to become a business partner. You must have at least three employees, and you must own an office of minimum of 200 square feet of total area.

    That is not all, unfortunately. According to the Nirmal Bang Partner requirement program, you must have Trading Terminals, a stable internet connection, and a business telephone connection.

    As they don’t have a dedicated research team, you will have to avail of that service of your own as well.

    Nirmal Bang Partner Infrastructure Requirement
    Find the various Infra required to take up Nirmal Bang Franchise
    What is the Employee Strength needed to start this franchise? Minimum 3
    Do the Sub Broker needs to provide Trading Terminals? Yes
    Is the Internet Connection mandatory to take up franchise? Yes
    Are Telephone Lines mandatory for Business Partners? Yes
    Is mandatory to provide Research Services by Sub Broker? Yes
    How much is the size of Office Area required to become a Sub Broker? Minimum 200 Sq Ft

    Find out the basic requirements of other Stock Broking Franchise

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    What are the Eligibility Criteria to Become Nirmal Bang Partner?

    The Nirmal Bang Sub Broker eligibility criteria are simple. Here they are:

    • The first Nirmal Bang Franchise eligibility criteria for you is you must be a registered member of SEBI.
    • The second on this list if your age; you must be 18 years of age to apply. If you are a graduate, it would be an added benefit.
    • Having a certificate concerning the stock market is the third on this list, as they prefer people who have prior knowledge in this domain.
    • The final point is that you must maintain a clean social and financial profile.

    What are the brokerage charges levied on the Clients of Nirmal Bang Partners?

    For the equity intraday service, Nirmal Bang authorized person charges either 0.02% or 2p. They follow a similar dynamic pattern for equity delivery – either 0.2% or 20p.

    Next in line is the equity options, where they charge ₹25 per lot, which is very reasonable in market comparison.

    They charge ₹20 per lot for currency options, which is again pretty good compared to the rival companies. Nirmal Bang Partner charges either 0.02% or 2p for equity futures, currency futures, and commodities respectively.

    Nirmal Bang Sub Broker – Brokerage Charges to Clients
    Here are the brokerage charges levied by Nirmal Bang Sub Broker to their clients
    What are Equity Intraday charges? 0.02% or 2 paisa
    How much are Equity Delivery charges? 0.2% or 20 paisa
    How much is the charge levied on Equity Options? Rs.25 Per Lot
    How much are the Currency Options charges? Rs.20 Per Lot
    What are Equity Futures charges? 0.02% or 2 paisa
    What are the charges levied on Currency Futures? 0.02% or 2 paisa
    What are the charges levied on Commodity Trading? 0.02% or 2 paisa

    What are the Account Opening Charges Levied to the clients of Nirmal Bang Sub Broker?

    Before you begin, Nirmal Bang Franchise charges a few fees. In the case of Margin money, the minimum threshold is ₹10,000. Now, to be honest, clients never like this idea, but that is how it is.

    Nirmal Bang Sub Broker charges ₹200 per annum too as the AMC of the Demat accounts. One of the significant reasons to be associated with them is they don’t charge a fee for the Trading accounts’ AMC, neither they charge anything as transaction fees.

    Even they don’t charge a penny to open an account with them.

    Nirmal Bang Franchise – Account Opening Charges to Clients
    Here are the account opening charges levied by Nirmal Bang Franchise to their clients
    What are the Account Opening Charges? Zero
    What is the Margin Money required? Rs.10,000
    What is the charge for Demat AMC? Rs.200 per Annum
    how much are Trading AMC charges? Zero
    How much is the Transaction Charges levied? Zero

    How to become a Nirmal Bang Partner or Sub Broker?

    Becoming a Nirmal Bang Partner isn’t a big riddle you can’t understand. It only takes a few good measures and consideration to make yourself fit for the role of a Nirmal Bang sub-broker. Such as –

    • An applicant must be 18 or 21+ to be fully eligible for the application
    • He/she must be a resident of India
    • He/she must have a bank account for the ease of transactions
    • Any prior experience in the stock market is necessary to take the responsibility of a sub-broker.
    • Whether you are an individual, company, or partnership firm, you must have a track record of good reputation in the market.
    • A person who can’t afford an investment between Rs 50,000 to Rs 2.5 lacs should avoid the program.

    Documents required to become Nirmal Bang Partner

    Let’s figure out those essential documents you will need to pass the verification process of a Nirmal Bang Sub Broker. Not all documents are necessary to make available; you can use some alternatives instead. The required documents are

    • A Valid ID Proof, e.g., Adhaar Card, Voter ID card, Driving License
    • Residential address proof
    • Rental agreement or property documents where you set up the franchise
    • A partnership agreement (may be provided by the company’s representative)
    • Some passport-sized photographs
    • Academic certificates
    • Employment/Experience proof
    • Canceled cheque
    • GST and other tax-related documents etc.

    Why Partner with Nirmal Bang?

    It’s worthwhile to get your name listed as the Nirmal Bang sub-broker by becoming one of the company’s official partners. The partnership exposes you to certain cool benefits, and we have a summary of that.

    If you become a Nirmal Bang partner and acquire a franchise, you will be actively assisted by the broker’s team. It covers on-site training too.

    Apart from that, client reports and free ODIN trading terminals are shared with partners to keep them up to date with their growth figures and overall revenue.

    However, the well-established image of the company in the nation may help you launch a great beginning. The broker already has 3,000 sub-brokers spread across the country and isn’t new in the market.

    Nirmal Bang Franchise – Pros & Cons

    After discovering so many great things about the Nirmal Bang partner program, let’s head to the pros and cons section to get a brief overview of the broker –


    • Wider Offline presence
    • Multiple investment products
    • Dedicated support
    • Timely Payments
    • Well-established franchise network
    • Marketing support offered
    • Service-providing companies are welcome
    • People with great fan followings are welcomed


    • Decent brand equity
    • Decent Revenue sharing
    • Tough eligibility criteria

    Nirmal Bang Franchise Registration

    After going through the detailed review of Nirmal Bang Sub Broker, if you are determined to proceed with your plans of acquiring the company’s franchise, here’s a process to follow.

    As usual, start by simply filling out the registration form that asks you for your Name, Email, or Contact Number only.

    1. Welcome the representative from the Nirmal Bang team
    2. Start your conversation with the team and get all your doubts sorted before it begins
    3. Satisfied! Follow the process as guided by the representative
    4. Head to the E-Verification and submit the necessary documents
    5. Wait for the approval!

    It hardly takes a week for an application to be processed. Once the online verification is done, an agent from the Nirmal Bang team may approach you on-site where you wish to set up the franchise.

    The representative summarizes how the investment amount (Rs 50,000- Rs 200,000) will be submitted.

    Earning the potential of a Nirmal Bang Partner/ROI

    Compared to most other trading platforms, earning potential is decent in the Nirmal Bang Business Partner program. The broker agrees on 50:50 sharing.

    It would imply that both brother and sub-broker will be agreeing on half-half revenues which is reasonable though. However, you can even negotiate on the revenue sharing if you bring more quality clients to the broker.

    Nirmal Bang Authorized Person – Products Offered

    Let’s walk you through the list of products offered to a Nirmal Bang Authorized Person. The company assists its authorized persons in all of these products –

    • NSE-Cash
    • BSE-Cash
    • NSE F&O
    • NSE-Currency
    • BSE-Currency
    • MCX-Commodities
    • NCDEX-Commodities
    • NSDL(Depository Participant)
    • CDSL(Depository Participant)
    • IPO
    • Mutual Fund.

    What are the Customer Ratings of the Nirmal Bang Authorised Person Program?

    When it comes to Nirmal Bang Franchise Ratings, people showed mixed reactions. The revenue-sharing models are top-notch; thus, the clients rated high.

    The same thing applies to the security deposit section, where again the clients showed respect and rated high.

    Now, from here on, it tends to slide down. For their overall experience and the offers they provide, they did just about par and managed to get a somewhat respectable score.

    But, when it comes to Nirmal Bang Sub Broker Review for their trading platforms and mobile app, they fall apart and hence, the clients rated poorly.

    Nirmal Bang Franchise Customer Ratings
    Find Client Ratings & Reviews against multiple parameters for Nirmal Bang
    According to Revenue Sharing Model of the Franchisor 3.8 / 5
    Ratings as per Security Deposit provided by the company 3.8 / 5
    As per Experience in the Sub Broker Business 3.2 / 5
    As per Offers provided by the Broking Franchise 3.1 / 5
    Ratings as per Mobile Trading App & Trading Platforms 2.8 / 5
    Overall Ratings of the Sub Broker Franchise 3.16
    Star Ratings ★★★☆☆

    Nirmal Bang Franchise Conclusion

    They rely on their experience to deliver service to the clients.

    However, the biggest disappointment of the clients is their inability to adopt new technologies. As a result, the trading platforms and the mobile app are being heavily criticized.

    Apart from that, Nirmal Bang Sub Broker is well-versed and systematic.

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