You must be registered with a recognised DSA to become a Partner. Make sure that you’ve followed the correct steps to become a channel partner, and let us assist you. Getting in touch with a DSA is easy when you have all the details at your fingertips.
What does it mean to be a DSA Partner?
A direct selling agent, or DSA, is a home loan representative company employed by a bank or non-banking financial institution. Partners of a bank or NBFC are called DSA channel partners, and they’re in charge of acquiring new customers for the institution.
Since the DSA loan professionals will handle everything, applying for a loan is a cinch. Instead of representing the employee for whom they are engaged, these partners represent the bank or NBFC. Each time a loan application is approved, partners are paid a commission. As a DSA channel partner, one must first get themselves registered with a DSA company or can also start on their own.
How do you go ahead with it?
For those who are willing to get themselves registered with a DSA, there is a specific procedure which must be kept in mind. For a successful registration kindly follow these steps to complete the registration process online:
You may begin by going to a bank’s or NBFC’s website and clicking on the “Partner Program” on their website.
Fill in the required details and complete the registration form.
Afterwards, the institution’s support staff will get in touch with you and arrange a meeting to proceed further with your application.
During the meeting, an institution manager will walk you through the whole process, including how to generate leads.
You and the bank or NBFC will sign a contract once you are satisfied with the processes and procedures. You will become a DSA Partner of that institution after signing and stamping the document provided.
To speed up the application process, you may apply to become a DSA channel partner with various financing institutions. After receiving the channel partner contract from the bank or NBFC, you become a DSA Partner.
What kind of documents is needed to join?
Generally, the DSA channel partner paperwork procedure is one that is deliberately kept to a bare minimum and is also simple to present. In order to complete the Know Your Customer process, you are required to provide the following documents:
Your Aadhar Card
Your PAN Card
Your Driving License
Information regarding your Bank Account
The institution will welcome you as a Partner as soon as the required paperwork has been provided in advance and has been correctly validated. The process itself is very straightforward to ensure that complications are avoided during the registration and verification of a DSA partner.
Who may join the DSA, and what are the requirements?
As a DSA partner, admission requirements may vary depending on the institution. Participation is open to anybody who has a high school diploma or similar educational qualification.
Regardless of one’s employment status, one can apply to become a registered channel partner. You are required to be knowledgeable about the scope of work and the processes involved in getting a loan sanctioned. One of the other important aspects is an excellent credit history as well as an excellent CIBIL score. The required minimum age of the applicant is 18 and is required to be a citizen of India.
Benefits of working as a DSA partner:
Partners working for an institution do not need to meet educational requirements. Anyone can become a DSA partner and advise others in financial matters, regardless of their degree or prior experience. As there are no fixed obligations, you can choose the job flexibility and can stop being a partner whenever you wish. Working as a DSA loan representative can also be an alternative if you’re still studying. You will get a fee for each borrower who uses your referral code, applies, and is accepted. If, the amount of the loan gets increased or decreased, the commission also changes accordingly.
Being a DSA partner is a lucrative career option where you have total control of your job, performance and salary. So, if you aspire to become a DSA channel partner, the above information outlines everything you need to know about becoming one efficiently. To become a Channel Partner with Andromeda, do visit our Partner page and submit your details.