Who can become a DSA loan agent?

A DSA loan agent collaborates with lending institutions like banks and NBFCs to sell or distribute financial products in their name. They help individuals and small to mid-range business owners choose loan products suited to their needs. Loan partners are also responsible for simplifying the legal jargon and explaining the loan application and sanction process to clients. 

Eligibility criteria to work as a DSA agent

• Must be an Indian citizen: If you want to work as a DSA loan partner anywhere in the country, you must be an Indian citizen.

• Must be above 18 years of age: Your age must be over 18 years to begin working as a DSA loan agent.

• No professional qualifications required: You do not need any professional degrees or qualifications to begin working as a DSA agent. However, loan facilitators like Andromeda Loans provide on-job training modules that you must complete to get a grasp of the roles and responsibilities of a loan partner. 
• Must have significant clientele: If you are familiar with the finance industry and already know a pool of significant clientele like tax advisors and chartered accountants, you will find it easier to adapt to the legal terms. You can also reach out to your old contacts and pitch loan products to them. Lending institutions are often on the lookout for such kinds of people, for they can easily establish trust with the target audience. 

Documents required to work as loan DSA agents

• Proof of identity like PAN card, Voter ID, Aadhar card
• Proof of address like electricity bills, water bills, passport, driving license
• Form 16 income tax details
• Your latest three months’ bank transaction documents
• Completed ‘Loan Partner’ registration form with all your basic details

Who can become DSA agents?

Those looking to jump-start their careers after a long break, like housewives looking for stable income sources, or new mothers looking for flexible careers, would thrive as loan DSA agents. Students, who want to gain experience in the finance sector, but do not have the necessary degrees, can also begin work as a loan DSA agent. Since you do not need any professional qualifications to work as a loan DSA agent, almost anyone with a desire to learn can work as a loan partner. 

Benefits of working as loan DSA agents

• Flexible working hours: The primary role of a DSA agent is to persuade clients to invest in their loan facilitator’s loan products. They call clients during office hours and set up meetings. Loan partners do not have to report to a physical branch of the institution at a stipulated hour, so students, housewives, and new mothers can easily accommodate their tasks at their convenience. 

• No income limit: The monthly salary of a DSA agent depends on the number of loan products they sold. If you are looking to earn some extra money, or have to step up to support your family, the role of a DSA agent is perfect for you. If you have strong negotiation skills, there is no limit to the amount of money you can earn as a DSA loan partner. 

• No professional degrees required: If you have an outdated CV, or want to resume working after a while, you may be behind on skills, or may not have the necessary degree for a role. You do not need professional qualifications to begin working as a DSA agent. You need a thorough knowledge of your lending institution’s loan products and polished communication skills to succeed as a loan partner. These are core skills, that can also be easily transferred to any role in any industry if you want to switch jobs in the future.  

• No added investments: Since you do not professional degrees, you do not have to make any major investments or pay a lump sum of money to work as a DSA channel partner. It is ideal for individuals, who had taken a career break for personal reasons, and are now looking to get back into the fold. 

Signing off

To begin working as a loan DSA agent, reach out to Andromeda Loans. They are one of the biggest loan facilitators in India, with customers availing over INR 38,000 crores worth of loans in a single financial year. You have to fill in their ‘Loan Partner’ registration form and submit your basic details. If your profile is shortlisted, you will be called in for an interview.