A Complete Guide to Axis Bank DSA Registration Online

A direct selling agent (DSA) connects borrowers to lenders. They promote financial products on behalf of their lending firms. In exchange for their services, they earn a percentage of the total loan amount they sell. Banks and NBFCs collaborate with DSA agents to increase their revenue. They cannot pay attention to each and every client, hence they partner with loan agents, who often have one-on-one interaction with their lender’s clients to hasten the loan sanction process. A loan agent also offers financial advice and guides their clients to make more informed decisions. 

Duties and responsibilities of an Axis bank DSA agent

• Attract clients: An Axis bank DSA agent’s primary responsibility is to attract clients and retain them in the long run. They have to use direct marketing techniques like cold-calling, emailing, and texting to inform them about their lender’s products. A loan agent must also convince potential customers to purchase these products. 

• Help loan applicants: A DSA partner helps to streamline loan processes and ensure that their clients’ loans are sanctioned on time. They may also negotiate with the lender for better loan terms for their prospects. 

• Answer customer queries: An Axis bank DSA agent must also be available during official working hours to answer customer queries and guide them through the application process. DSA agents simplify the complex terms to make sure customers understand what they are signing up for. 

• Maintain records: A loan agent also takes care of all the paperwork. They verify documents, run background checks, and relay all these details to the bank.

Skills required to apply for Axis bank DSA registration

• Strong negotiation skills: As a loan agent, your primary duty is to attract and retain more clients. When cold-calling clients, you must be able to drive the conversation and convince them to invest in your lender’s products. You must also be able to come up with innovative marketing campaigns to promote your products.  

• Good communication skills: You must be able to compress all your product’s benefits and deliver those details in front of your customers in a concise manner. A loan agent must also be able to charm their audience with their talking skills and convince them that their products would alleviate their financial concerns. 

• Detailed product knowledge: An Axis bank DSA partner must know all their lender’s products by heart, their features, their benefits, and all their unique selling points. These details will help you to answer customer queries promptly and provide excellent customer service. 

Eligibility criteria to apply for Axis bank DSA registration

• Must be an Indian citizen: You must be an Indian citizen to begin working as a loan agent in the country. 

• Must be a legal adult: If you are not above 18 years of age, you cannot work as an Axis bank DSA partner. 

• No professional qualifications required: There is no meritocratic gatekeeping in the DSA industry. You do not need college degrees in accounting, banking, or finance to begin working as a DSA agent. However, you need to be well-informed about your lender’s products and must have good persuasion skills to promote your lender’s products. 

• Must have an excellent credit history: Your credit scores reflect your financial history. Unless you have a good record of paying back your debts, lenders may not want to trust you to offer financial advice to your clients. You must have excellent CIBIL scores to maximize your chances of getting selected for the role of an Axis bank DSA. 

Although not a compulsory requirement, if you know the local language of your operating area, you will find it easier to connect to your clients. Prospects also tend to look for agents who speak their tongue for it brings a sense of familiarity and they share common cultural nuances. For example, if a DSA agent is not familiar with the expense associated with Indian weddings, they may not understand why you would want to take out a personal loan to finance it. 

Documents required to apply for Axis bank DSA registration

You have to submit the following documents on the Axis bank DSA registration platform to complete the sign-up process.

• Identity proof: Aadhar card, PAN card, Voter ID

• Address proof: Passport, driving license, utility bills

• Income proof: If you were previously employed at an organization, you have to submit salary slips. If you were self-employed or ran a business, you have to submit invoices or business address proof. 

• Tax details: Form 16 and other income tax documents

• Bank statements: Your most recent three months’ bank account statements

• Registration form: Axis bank’s ‘DSA Partner Program’ registration form, with all your basic and professional details

How to apply for Axis bank DSA registration online?

To apply for Axis bank DSA registration, head to their official website. Look for their ‘DSA Partner Program’. Create an account on their login portal. Fill out the registration form with all your personal, professional, and income details. You may also have to submit your KYC identification documents like your Aadhar card, PAN card, and Voter ID, and address proof like your passport and driving license. If you are a salaried individual, you also have to submit your salary slips and ITR returns. 

If your profile matches their expectations, you may be called in for a meeting. The Axis bank authorities will acquaint you with the role of a loan agent, inform you about the commission structure, and check if you have the qualifications to work as a loan agent. Although you do not need professional degrees, you need to go through Axis bank’s existing and upcoming products, their features, and their unique benefits. If you are satisfied with the benefits and feel that you can undertake the role of a loan agent, you will sign a DSA agreement. It is a written contract that details the terms and conditions for both parties. 

To conclude

Axis bank is one of the leading financial institutions to begin your career as a loan DSA agent. You can enjoy generous commissions, flexible working hours, and better networking opportunities. It is best to choose a reputed institution because they receive invites to several industry events and product launches, which are the perfect places to meet other like-minded individuals. You can connect with experienced DSA agents and promote your lender’s products as well. 

Andromeda Loans is another well-known financial firm, known for its decades-old financial expertise, upgraded technology, and wide range of loan products. You can also reach out to them and take advantage of their minimal paperwork when disbursing loans.