5 Easy Steps to Become a Loan DSA with Andromeda Loans

A loan DSA agent acts as a referral agent who sells or distributes loan products in the name of the DSA franchisee. DSA agents are in huge demand owing to their effectiveness in reaching out to individuals and converting them as clients. And while DSA agents help lending institutions like us expand clientele, we pay them a small cut of the total loan product amount in exchange for their services. 


Eligibility criteria to apply as a loan DSA franchisee

If you are above 18 years of age and an Indian citizen, you can apply to work in any loan DSA franchise throughout the country, including us. You do not need any professional qualifications, except a thorough knowledge of our loan products. If you have an established network of finance professionals from your previous jobs, you will find it easier to adapt to the legal jargon. 


Loan DSA apply online: 5 easy steps


  • Fill out the registration form details

The first step to applying online as a loan DSA is to go to our website and click on ‘Become Andromeda Partner’.  A registration form will appear. Fill in the basic details and complete the registration process. You will receive a call from us within 48 working hours to process your application.


  • Understand the role of a DSA agent

During the conversation, we will inform you of the position and responsibilities of a loan agent. We will walk you through the existing and upcoming loan products you will be required to sell, the loan application and sanction processes, and the terms and conditions both parties must adhere to keep things running smoothly. 


  • Sign the DSA agreement 

Once your profile meets our expectations, you will have to sign a DSA agreement. It is a written contract between the loan DSA partner and the loan facilitators to ensure that the terms and conditions are laid out clearly. 


  • Submit relevant documents
    In order to complete your application as a loan DSA franchisee with us, you will need to furnish the following documents:

  • Proof of identity: voter ID, Aadhar card, PAN card
  • Address proof: driving license, passport, utility bills
  • Income tax details: form 16 and other income tax documents
  • Registration details: Andromeda Loans’ official ‘Become our partner’ registration form
  • Bank statements: your latest 3 months’ bank transactions

  • Complete the training modules

After you sign the DSA agreement, you will be formally inducted as a loan DSA franchisee. Next, you will have to understand the loan products, perfect your negotiation skills, and pitch these products to clients. We offer on-job training modules to succeed as a loan DSA franchisor. 


Why work as a loan DSA with Andromeda Loans?


  • Unlimited income potential: There is no limit to the number of loan products a loan partner can sell in a month, given we offer 200+ financial products at Andromeda Loans. You earn a commission from every product you sell. Besides, we offer the best in-class and prompt payouts. We also offer reward and loyalty points based on performance.

  • Flexible working schedule: A loan DSA franchisee does not have fixed working hours. You must communicate with your clients and schedule meetings at their convenience. However, make sure to call them during office hours only. 

  • No meritocratic gatekeeping: You do not need any professional qualifications or degrees to be a loan DSA franchisee. However, you must polish your communication skills and go through the on-job training modules provided by us. 

  • Open to both salaried and non-salaried individuals: The position of a loan DSA is open to both salaried and non-salaried individuals. However as a loan DSA franchisee you need to hone your negotiation and networking skills.

  • Build a social presence: One of the best advantages of working with facilitators like Andromeda Loans is that you have the opportunity to work with small to mid-range business owners and ambitious officegoers. You have to position our products in a way that compels people to become our clients. 

  • Excellent exit opportunities: While working as a loan DSA, you build a pool of significant clientele, most of whom are small to mid-range business owners and aspiring officegoers looking to start a business venture. You also meet experienced finance professionals like tax advisors and chartered accountants through networking. If you want to quit your job as a loan DSA, you can find opportunities in these networks. Also, communication and negotiation are core skills that are transferable to any industry.  

  • Spread awareness on financial products: A loan DSA franchisee partners with us to bring in more business and increase revenue. In the era of personalization, DSA agents are in huge demand, as they can dedicate time and attention to each client and assist them in every step of the loan application process. They also popularize loan schemes and spread awareness on setting good financial goals, how to achieve them, and so on. 


Signing off

A DSA agent upholds the interests of both parties, the customers as well as the loan facilitators. It is easy to become a loan DSA franchisee if you meet the eligibility criteria and follow the 5-steps application process as mentioned above. The benefits of being a DSA are abound.