How To Become A Loan Agent?

How To Become A Loan Agent

The life and career of loan agents are quite enthralling. They need to find prospective clients, pitch to them and make sure they avail the loans they are pitching. The DSAs carry out a lot more responsibilities than just this. However, the hard work pays off as the DSAs get paid well, and there is no limit to their earnings.

So, do you want to become a loan DSA? If so, you have landed on the perfect place to learn about the process of becoming a DSA, the role they play in any bank or NBFC and a lot more interesting information about this career.

Roles & Responsibilities Of Loan DSA

While the basic role and responsibility of a loan DSA may be known to you, let us understand this in more detail.

  • DSAs need to acquire as many clients as possible. It can be either from data given to them about prospective clients, or their network, friends, and family members. The primary responsibility of any loan DSA is to acquire people who want to avail of a loan.
  • Once you have prospective clients, you need to prepare in detail the product you plan to pitch to them. For instance, if you are pitching to a prospect, who is looking for a home loan with a maximum of Rs. 20 lakhs, you cannot pitch about availing a personal loan of Rs. 50 lakhs. You need to study the prospect, then take and understand all the details of the prospect, their requirements, and preferences. Once you know all the details, you can prepare a great pitch.
  • After the pitch is prepared, you need to deliver it, and here come your communications skills at play. You need to be a great communicator and have exceptional convincing skills to woo the prospects to avail of loans.
  • Finally, when the prospect agrees, you have to apply for the loan on behalf of the client. You need to submit the application, upload documents after preliminary verification and then wait for the approval.
  • After the disbursement of the loan, you will receive the commission that you are entitled to.

How To Become A Loan Agent In India?

Are you wondering how to become a loan agent in India? If so, your search ends here. Here are the details of the process of becoming a loan DSA:

  • First, find the bank/ NBFC with which you want to be associated. For this, you need to check all the facilities, commissions, and other perks that the lending institution provides.
  • Then visit the lending institution's website and apply for the DSA position.
  • You need to make a certain payment as a fee, and upon receiving the same, the lending institution will get in touch with you.
  • After you receive the call, you will be asked to submit the documents like PAN, AADHAAR, and your CIBIL score will be evaluated as well as other details.
  • On successful verification of all the documents and the details, you will receive the DSA registration agreement at your registered email address.
  • Fill out the agreement, sign and submit it.
  • You will receive the DSA code following which you can start pitching and selling loans.

How Much Does A Loan DSA Earn?

The DSA loan agent commission varies from one lending institution to another. However, the basic factors remain the same while estimating the earning potential of a loan DSA. So, a loan DSA’s commission depends on two primary factors – first, the type of loan he is selling and second, the amount of loan you are selling.

Suppose you are selling a home loan worth Rs. 50 lakhs. For this, you can receive a commission of around 0.2% on an average, while for a home loan of Rs. 1.5 crore can get you a commission at the rate of 0.25%.

Similarly, the rate of commission changes with the type of loan as well. For instance, if you sell business personal loans, on average, the commission rate is 1%, while if the loan amount is around or above Rs. 50 lakhs, then the commission can even go up to 3%.

The earnings of a loan DSA depend on how many clients they get in a month, how many of those prospects become clients of the company, how much loan they are availing of, and what type of loan. The best part about a loan DSA’s earnings is that there is no limit on the commission a DSA can earn.

Let's say you sell 10 loans, you will earn a commission on all ten loans, while if in the next month, you can only sell two loans, then you will receive the commission on only two loans. Thus, the earning potential is completely variable and depends on the performance of the DSA.


Becoming a loan DSA can be a dream for those who want to work independently, earn without limit, and are great at communicating, convincing, and pitching. So, if you are one of them, here is your chance to shine. You can just follow the steps mentioned above about registering as a loan DSA, and you can become one easily by following the steps.

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