How Profitable is Loan DSA Service in India?

Being a loan DSA in India has become quite profitable lately. Banks and other finance companies appoint direct selling agents to sell their products to the public. Almost every bank and finance company is hiring DSAs to improve their sales reports.

The role of a DSA is important in an economy. They help people understand the plans offered by the bank and sell them to the customers. If there is a successful conversion, the Direct selling agents will receive a commission. The percentage of the commission can vary in each deal. Make sure to hire a DSA while getting loans in India for all the benefits.

Who is DSA?

It is an intermediary between a borrower and the lending company. When the loan amount is large, a third party is required to manage all the paperwork and other items. This facility includes loan services, examinations, and other facilities. Let’s discuss some of the important aspects regarding DSA and its impact on the loan market.

Why Do People Become Direct Selling Agents?

If you want to become a direct selling agent in India, it will have a number of benefits. Here are some of them-

  1. When you are working as a loan DSA, you don’t need to follow any schedule.
  2. You will have the authority to create a group for selling loan options.
  3. The risk appetite is not too much. Anyone can balance the risk while working part-time or full-time.
  4. Flexible terms are possible during this work.
  5. This work doesn’t need any educational quality. Anyone with some basic knowledge about loans and with enough training can work for this job.
  6. According to experts, there is no need to submit any money to become a DSA.

There are many more benefits to becoming a DSA. We have discussed a few ones here in this blog. Those who want to learn more must consult with a professional in this industry.

The Complete Procedure for Becoming a DSA

Suppose you want to become an agent. What will you do in order to do that? Here are some of the tips that might help-

  1. There are too many banks looking for agents. Visit anyone either physically or simply on their official website.
  2. Online registration is an important aspect of this process.
  3. After that, you will have to submit a number of personal information.
  4. Once the bank runs a background check, the process is almost done.
  5. The bank will present the DSA agreement to you. You have to sign that in order to close the final step.

It’s done. You are now officially a direct selling agent of that bank or finance company. In a few days, you will receive a DSA code that is important for your profession.

Loan DSA Models in India

There are different types of DSA models in India. Let’s have a look at them-

  1. Apart from B2C service, there are enterprises that work as intermediatory between multiple businesses.
  2. Not all DSAs are permanent. Some agents will only receive commissions after a successful deal. Compare different models and find the best one out of them.
  3. A DSA aims to sell different financial products, such as personal loans, home loans, and many more.

What are the Major Factors That Influence the Market?

Here are some factors that are influencing the loan market-

  1. The demand for these loans is increasing at a rapid pace. Apart from personal loans, business and corporate loans have become quite popular. This increasing demand is pushing banks to have more DSA agents.
  2. DSA partnership is an important aspect of the economy. Unless there is a balance between the lending companies and the person getting the loan, it is difficult to run the whole system.
  3. RBI is closely watching the whole system. Regulation is something that we need to have to prevent any issue. If, for any reason, the bank or the lending company doesn’t comply with the norms, RBI will make strict decisions against you.
  4. With the use of Direct Selling Agents, banks are offering their services to a wider audience. This is beneficial for both parties.

We have so far discussed some of the most important aspects regarding DSA, profits we can have, and profitability. Don’t forget to consult with an expert to learn more about them in detail.