Loan Agent


A loan agent is a person or entity that resells different types of loans as a representative of a bank, fintech company or NBFC. They promote loans to potential applicants, elucidate the attributes and advantages of the financial product and guide the leads or customers through the application process, after classifying them as eligible for the particular loan. In return, the financial institution pays the loan agent a commission on each loan that has been disbursed. 


Why hire loan agents?

Banks and financial institutions recruit loan agents from across the country for a variety of reasons. Since lending institutions do not have the bandwidth to cater to customers always, this is where loan agents come into the picture. 

A loan agent acts as a liaison between a financial institution and its customers. They help the lending institution increase customer reach and profits, and assist loan aspirants with their applications and manage their queries. They earn commissions based on the total profit made from selling loans of the bank or NBFC. Besides, lending companies find it cheaper to hire DSA agents as they do not need to provide full-time employee benefits. 


India’s largest loan distributor

With a strong network of more than 1,000 branches, Andromeda Loans has marked its presence across the country. One of the biggest advantages of associating with us is that you can sell loans of 140+ lenders to your customers. We also take pride in having an employee count of 3,000+ and a DSA partner count of 25,000+.

Fulfilling the dreams of 15,00,000+ customers

The fact that we are present pan-India has boosted the confidence of our partners over the years as they continue to provide sound financial guidance and customer service. In fact, with our rich legacy of 30+ years, we have been instrumental in 15 lakh customers achieving their financial goals with success.

Maximum loan amount disbursals

Andromeda Loans is known for its excellent financial services and product recommendations. As a matter of fact, in a recent financial year, we helped our customers get loans amounting to INR 38,000 Cr. We invite more DSA loan partners to join us so that we can achieve many milestones together.

Partnered with 140+ financial institutions

We have strategically expanded our tie-ups over the years. Currently, we have the support of 140+ banks, NBFCs and fintechs that help us get the best deals for our customers.

Roles and responsibilities of a DSA loan agent


Since there are many lenders and products available in the market, customers need to be made aware of the process and the best loan option that would suit their needs. This is why a loan agent is important. But, they also have other duties, which include:

  • Pitching loans through different marketing channels: A loan direct selling agent should target potential customers in order to market and sell different loans. They can promote the financial product through digital marketing, direct marketing or social media marketing if considering the online route. For offline marketing strategies, they can partner with retail stores or travel agencies to distribute loans.
  • Categorize leads: As soon as you start receiving interest from loan applicants, you will need to suggest the best loan option based on their credit score and financial goals. Do make sure you are matching the basic checks of the loan applicant with the eligibility criteria of the lender. 
    • Assist in the application process: Ensure you are explaining the features and benefits of the loan to your potential loan applicant. As a loan agent, you should explain all the terms and conditions, including interest rates, fees, and charges. After which, do make sure you collect all the necessary information and documents from the customer and submit the same to the lender for loan processing. The last step in the application process is that you will need to inform your lead or customer whether their application has been approved.
  • Give complete and accurate information: DSA loan agents should adhere to the lender’s guidelines and regulations as outlined by them. Since you are representing the bank or NBFC you have partnered with, always ensure you are transparent in your interactions with your customers, especially when explaining the characteristics and advantages of the loan.

Eligibility criteria for loan agent registration


A loan agent can apply to our company as long as they meet the following criteria:

  • Must be an adult as per law: A loan agent’s age should be at least 18 years.
  • Must be an Indian citizen: To work with Andromeda Loans in any of their offices in the country, you need to be a citizen of India. 
  • No mandatory professional requirement: You do not need to be salaried or self-employed to work as a loan agent with us.
  • Be more skillful and resourceful: To begin your journey as a loan agent, you do not even need any graduate or postgraduate degrees in finance, banking or accounting. Andromeda Loans provides on-the-job training modules that will definitely boost your negotiation and communication skills as you distribute our financial products to your customers and leads.
  • Other criteria: Although this is not a compulsory requirement, many lenders prefer Loan agents with an excellent CIBIL score. This implies your capability to pay debts on time and regularly. It also makes sense to know some regional languages so that you can relate to your target audience effectively.

Documents required for loan agent registration

  • Identity proof: Including PAN card, Voter ID, Aadhar card
  • Address proof: Including Passport, utility bill, driving license 
  • Tax documents: Form 16 or Income Tax Return details
  • Bank statement: Your recent 3 months' bank statements
  • The loan agent application form found here

Loan Agent FAQ

A loan agent is a financial advisor who acts as a middle person between financial institutions and their customers. They sell loans to potential loan applicants and earn commission from lenders in return.

In order to work as a loan agent with any bank, fintech or NBFC: 

  • You need to be an Indian citizen.
  • Your age should be over 18 years.