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DSA Registration Online

DSA Registration Online

This blog will explain the steps involved in DSA registration online. You will also learn about the eligibility criteria for loan DSA registration, and the documents that are required for successful DSA loan agent registration? We will also talk about the percentage payout that a DSA receives as a loan agent commission.

Who is a DSA?

First of all, let's discuss what is DSA and what their job is. A DSA is a Direct Selling Agent. Loan DSAs are the ones who approach people that are interested in taking a loan and connect them to banks and NBFCs and also help them throughout the process of applying for a loan.

The loan DSA agent's job is to connect clients looking to loan with financial services and banks that lend money to borrowers.

The loan DSA plays a very important role in taking care of all the documents and doing proper diligence. They also check the authenticity of the customers and cross-check the documents to ensure that the loan application process goes smoothly.

Loan DSAs deal with all types of loan services, such as:

  • Home loans
  • Personal loans
  • Business loans

Steps For DSA Registration Online

If you like working independently with flexible hours anytime, anywhere and being your boss, you can apply for DSA registration online. Anyone who wants to become a loan DSA can choose the company they want to work with and apply by simply contacting them for the role.

DSA loan agent registration for most NBFCs and banks is extremely easy as they have their online platform or website where one can register. The registration steps vary slightly from company to company, but these are the common steps for registration.

  1. Fill out the form for the DSA registration online through their website
  2. After submitting the form, you will be asked for the required documents
  3. You will get an interview call after document verification and background check
  4. After cracking the interview, you will be able to sign a contract with the company
  5. After all due diligence, you will get your DSA licence and DSA code
  6. Now you can commence work as a DSA loan partner

The company with which you have become a loan partner will give you induction before starting work in the field and help you start as a working professional in this industry.

Eligibility Criteria For Loan DSA Registration

To become a DSA and be qualified for loan DSA registration. First of all, you need to be a citizen of India to be eligible for loan DSA registration. Education qualifications are not set in stone, but most financial companies and banks prefer a minimum education qualification of 12th grade.

Other than this, you should also be 18 years or above to qualify. A good CIBIL score, excellent grip on communication skills, and networking skills are good traits to have.

Documents Required For DSA Agents Registration?

A DSA loan agent registration is very simple, and the documents required to clear DSA loan agent registration successfully are as follows.

  1. PAN card
  2. Identity proof (Aadhaar Card/ Voter ID card)
  3. Educational qualification (12th marksheet)
  4. Firm details (if applicable)
  5. Two recent passport-size photographs

If you are already working as a professional in any other field, you might be asked to provide proof for the same.

DSA Loan Agents Commission?

A loan DSA earns proportionally to the number of loans he can process for his clients. A  DSA loan agent's commissions vary greatly from the kind of loan he sells to the customer.

The percentage payout that a DSA receives as a loan agent commission also depends on the NBFC and bank he is working with.

Commissions For Personal Loans:

The DSA loan agent commission depends on the company they work with, but it ranges from 0.5% to 1%. DSAs enjoy the 1% loan agent commission at the top of their game.

Commissions For Home Loans:

Home loans are one of the most bought loans, but the commissions are also low compared to other loans due to low rates on home loans. The loan agent commissions range from 0.2% to 0.4%.

Commissions For Business loans:

The DSA loan agent commissions for business loans are higher, ranging from 1.5 % to 2.5% if the loan amount is very high.

DSA loan agent commissions alone can earn an agent more than the manager of the NBFC or bank they work with. The earning opportunity in this career is marvellous for a hard-working individual. Your earnings entirely depend on the amount of work you put in and the number of loans you can process.

Why Become A Loan Agent With Choice India

Suppose you want to become a DSA and don't know which company to choose. Choice Connect should be your first choice as they offer a wide range of loan products, competitive interest rates, advanced CRM for tracking leads, and a zero deposit package to start your journey as a DSA.

Choice Connect is a platform where you can instantly start paperless registration to become a loan agent. All you need to do for Choice Connect is submit a soft copy of your PAN card, and you can become a loan DSA.

Benefits Of Becoming A Loan DSA With Choice Connect:

  • Trouble-free registrations without any hidden fees
  • Best in market commissions and competitive interest rates
  • Zero investment work using just your phone if you want
  • Flexible working hours, connect with people anytime, anywhere
  • Advanced technology to use multiple services on one platform
  • Affiliation with multiple banks
  • Freedom as you get to be your own boss
  • The prospect of earning a lifetime
  • Great payments in the form of commissions
  • Deal with multiple financial services

Choice Connect will be with you every step of becoming a DSA. Choice Connect will help you with local branch support, backend, and technology support. You will receive training and sales guidance from industry professionals, and the relationship manager will be with you for any help you may need throughout the process.

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