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DSA Partner

Overview

A DSA Partner is a professional financial advisor providing various services to their clients. Once registered with a DSA, they can also advise and provide loan services to their clientele. For a client, it provides an additional support in terms of various financial services, like Tax Planning, Investment advisory and others. In terms of overall outreach, a DSA partner can earn a decent some of money by registering with a DSA and refer credit products to both the retail and business loan requirements of their customers.

 

For a customer who is already in touch with a financial advisor registered as a DSA agent, the partner becomes the first point of contact for the borrowers to understand a loan product as per their needs and then handles the end-to-end process of applying for and getting their loan approved from the bank. A DSA partner generally works in their own capacity and reaches out to various customers who are in need or are looking for a viable advice.

The main job of a loan DSA Partner is to create a link between a registered DSA and their existing client base that are looking for a loan. They are also the agents who are there to help these individuals arrange funds from a wide range of lenders and act as a bridge between both the parties throughout the process. Also, they bear an additional responsibility of handling the documents, verification and submission. For a borrower, the DSA partner serves as a single resource for all administrative formalities regarding their loan application.

Why ANDROMEDA:

Largest Loan Distributor in India

Andromeda has its presence in over 100 cities across the country, with our partnership you can team up with over 3000 existing partners and get the required exposure to work in the most dynamic industry. Our partners have a privilege of being a part of a team spread across the length and breadth of this country.

More than 15,00,000 satisfied customer

Andromeda branches are present all over the country, enabling our partners with quick support to provide the best in class services to our customers directly and bring the best product for them. Over the last 30 years, we have catered loans to over 15 Lakh customers in fulfilling their wishes.

Highest Quantum of Loans Disbursed

At Andromeda, we aspire to bring the best to our customers. As a DSA, over the past few years, we have helped our customers in availing loans worth over Rs. 38,000 Cr in a single financial year. With more loan DSA partners coming onboard with us, we aspire to reach multiple milestones together.

Tie-ups with over 70 financial Institutions

We believe in Unity is diversity. At Andromeda, over the last 30 years we have developed a chain of most reputed lenders in the country as our reliable lending institutions. Currently, we have 70+ lenders to bring the best deals to our customers.

Features & Benefits:

1.  Enhance your clientele with our DSA Partner Program

If you are looking to increase your client base by providing loan related solutions to refer, this is the right place for you.

2. Connect with PAN India Lenders

Our Partners have a direct access to get in touch with most reputed PAN India lenders, including major Nationalized & Private banks.

3. Get on-work training from Industry experts

At Andromeda, our Partners can make use of the tips shared by the experienced experts from the lending Industry.

4. No investment required, earn maximum commissions

Right from the start of the Partner registration program and getting your DSA channel Partner code and until the training, we do not charge a single penny.

5. Support and training from India’s largest loan distributor

We believe in ‘Growing by Learning’, our experts have prepared various On-Job training modules to provide inputs throughout the year for our partners to have an edge over others.

How Does a DSA Partner Work?

A DSA partner collaborates with loan distributors and acts as a mediator between the client and the loan giver or the bank. In exchange for providing clients and looking over the loan application process, the DSA channel partner is offered a commission. 

Loan DSA Partner Registration Eligibility Criteria

  • Must be an Indian Citizen: Finance professionals, who want to work as a DSA partner at Andromeda Loans must be a citizen of India. 
    • Must be Above 18 Years of Age: If you want to work as a DSA agent in India, you must be over 18 years of age. 
  • Must have Significant Clientele: Having a significant number of clients like tax advisors and chartered accountants enables you to apply to be a DSA partner anywhere in the country.
  • No Professional Qualifications: If you are a finance professional, you do not need any professional qualifications to be a DSA partner at Andromeda Loans. 

Documents Required

  • Proof of identity like PAN card, Aadhar Card, Voter ID, etc.
  • Proof of address like a utility bill, passport, driving license, etc.
  • Form 16 or Income Tax Returns details
  • Your most recent 3 months' bank transaction details
  • Andromeda Loans registration details 

Roles and Responsibilities of a DSA Channel Partner at Andromeda Loans

As customers may not be familiar with the process, they seek out an agent to facilitate the process of applying for and availing of a loan. However, a DSA channel partner also carries out other roles and responsibilities such as:

  • Simplify the Loan Application Process: The most important role of a DSA agent is to simplify the technical obligations of applying for a loan and streamline the process for the client. 
  • Identify Client Prospects: It is the duty of an agent to explore loan products and choose the best possible option for the client, depending on their financial goals and credit scores. 
  • Verify Leads: It is the job of an  agent to conduct preliminary checks of both the applicant and the loan product. A DSA channel partner looks through the loan product, verifies its credibility, and then sanctions the loan to the client.
  • Look Over the Entire Loan Application Process: From verifying the pre-qualification documents to ensuring that the lender accepts the application to issuing a sanction letter for the same, a DSA channel partner looks over the entire loan application process for the client. 

Advantages

  • An Extra Income Source: If you are working in the finance industry and already have an existing pool of clients in tax services and accountancy, you can maximize your income by working as a DSA channel partner. You will earn a commission from referring clients and ensuring that their loan application process is streamlined smoothly. 
  • Minimum Investment: You do not have to make hefty investments or get into shady wagers to strike a deal with the client. Your role as a DSA agent is just to help your clients find their best possible loan option and ensure that it is sanctioned smoothly. 
  • No Professional Qualifications Required: There is no meritocratic gatekeeping to enter the DSA industry. You do not need any professional qualifications to begin working as a DSA channel partner. 
  • Covers Training Costs: Your loan distributors, like Andromeda Loans, have several on-job training modules to help you gain your clientele’s trust and learn of the most recent loan schemes and products. 
  • Flexible Working Hours: As an agent, your job is to mediate between the clients and the loan distributors. You do not have to clock in at a specific hour. You just have to ensure that the loan sanction process is completed on time. 

Why Consumers Choose to Apply for Loans through a DSA Agent

You may be wondering why would consumers choose an agent to help them through loan application processes. The answer is fairly simple. 

  • Sort Through the Legal Jargon: A DSA channel partner simplifies the legal technicalities to ensure that you understand what the loan product entails. 
  • Provides Quick Solutions: If you feel stuck during the loan application and sanction process, your agent is just a call away. To ensure a hassle-free experience, most customers prefer working with an agent to sanction loans. 
  • Helps to Choose the Best Possible Option: Your agent has your best interests at heart, hence they help to sort through the clutter of various loan products available in the market to choose the best one for you. 

FAQ

Finance professionals who are willing to partner with a registered DSA do not require any specific professional education. All those who are a citizen of India and have a significant amount of clientele like Tax Advisors and Chartered Accountants can apply to be a DSA Partner anywhere in the country.

A DSA Partner is a financial advisor who has an existing clientele regarding financial services and would also like to provide assistance regarding various credit facilities. An ideal DSA partner can be a certified financial advisor or a chartered accountant handling different clients. Their primary goal is act as a point of contact between the lender and a borrower, which can be any of their existing clients.

The compensation and commission of a DSA channel Partner varies from one DSA to another, and also on a particular case. As per the current industry average, a partner can earn a minimum of Rs. 10-15,000 on every loan disbursal; however they are not liable for any fixed salary.

Majorly a loan application consists of multiple steps; however the same may vary depending on the lender. In general, a simple loan application consists of 4 major steps to be followed; the very first step is the initial pre-qualification process, then comes the loan application which is to be filled & duly submitted. Then the documents are processed and verified by the lenders team, after which the lender issues a sanction letter or a letter of approval for the same.

A DSA Partner is responsible for managing a loan for the clients, the entire process of applying and availing a loan is catered by the partner or its team. As most of the borrowers are not aware of the technical obligations of availing a loan, so a DSA channel partner helps in easing out the process and provide all due assistance.