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SBI DSA Registration

Overview

A direct sales associate or direct selling agent (DSA) is a mediator that collaborates with lending firms to sell or distribute financial products. Financial institutions and banks, like SBI, share a mutually beneficial relationship with DSA agents. While lenders hire DSA agents to delegate some of their tasks, the DSA partners get paid a hefty commission in exchange for their services. A DSA partner of SBI not only assists prospects in their loan application processes but also recommends financial products suited to their needs. 

 

Benefits of working as an SBI DSA agent

  • Earn attractive commissions: Being one of the top-rated financial institutions in the country, SBI offers quick payouts and faster loan disbursals, and also pays their DSA agents attractive commissions. 


  • Enjoy a flexible working schedule: You can set your working hours when working as an SBI DSA partner. You do not have to report to their physical branch at any stipulated hour in the day, so you can necessarily work from anywhere. 


  • No investment required: You do not have to pay any hefty fees, buy any insurance policies, or invest in professional college degrees in banking or finance to work as an SBI DSA partner. 


  • Offer attractive interest rates to clients: The best part of working as an SBI DSA agent is that it offers some of the best competitive interest rates and loan repayment terms in India, so you can offer the same facilities to your clients. 


  • Choose from a variety of products: The State Bank of India offers an array of financial products like loan schemes, credit cards, insurance policies, and the like. As an SBI DSA agent, your clients will have a wide range of options to choose from according to their needs. 

 

How to apply for SBI DSA bank registration online?

  • Head to the official website: To apply for SBI DSA registration online, go to their official website. Click on their DSA partner program option. Upon clicking, it will drop down to reveal a registration form. Alternatively, you can become a DSA partner with Andromeda Loans.


  • Fill in your personal details: You have to enter your basic KYC identification details like your name, contact number, and address in the registration form. You may also be asked to upload these documents for verification. 

 

  • Create an account: After filling in your basic details, you have to make an account with a username and password. You also have to fill in other identification details and submit proof like an Aadhar card, Voter ID, and PAN card. 

  • Read the terms and conditions: The registration form will also detail the terms and conditions, working hours, and additional responsibilities an SBI DSA agent has to take up. Make sure to read through the document carefully before proceeding to the next stage of the SBI DSA online registration process. 


  • Enter your financial information: You also have to enter your prior experience and submit proofs like salary slips, income certificates, or bank account statements in the form. The SBI needs your income and asset information to check if you are eligible for the position.


  • Undergo verification: The SBI authorities will run background checks and verify your KYC identification documents to check if anything is out of place. Make sure that you submit your latest documents with updated information on the SBI DSA registration form online. 


  • Show up for the interview: If your profile matches their expectations, you will be asked to turn up for an in-person or virtual interview. The SBI interviewers will evaluate your skills and check if you would be fit for the role of an SBI DSA partner.


  • Sign the DSA agreement: If you approve of the commission fees and the terms and conditions, and agree to fulfill the duties and responsibilities of an SBI DSA agent, sign the DSA agreement. It is a written contract that explicitly states the percentage of commission a DSA agent will receive, their working hours, and the additional duties an SBI DSA partner will be asked to fulfill. It protects the rights and interests of both the bank and the agent. 


Complete your training modules: After signing the DSA agreement, you can begin working as a DSA agent. Make sure to talk to other experienced agents in the lending firm and watch all their training modules to learn how to position their products and make more sales as an SBI DSA partner.

Eligibility criteria to apply for SBI DSA registration

  • Must be an Indian citizen: If you want to work as an SBI DSA partner, you must be a citizen of India. 
  • Must be above 18 years of age: You must be a legal adult i.e. above 18 years of age to work as an SBI DSA agent. 
  • Could be salaried or non-salaried: Both salaried and non-salaried individuals are welcome to apply for the role of an SBI DSA agent. 
  • No professional qualifications required: You do not need to make any hefty investment, pay any money to the bank, or invest in professional degrees in banking or finance to begin your career as an SBI DSA agent. 
  • Could have an excellent credit history: Although not mandated by the SBI, if you have a high CIBIL score, your profile has a higher chance of being shortlisted for the role of a DSA agent. Having good credit scores is an indicator that you are capable of managing your debt. If you have no major debt, lenders like the SBI will be more likely to trust you to offer financial advice to others. 

 

Documents required to apply for SBI DSA registration

  • Proof of identity: Voter ID, Aadhar card, PAN card
  • Proof of address: Passport, driving license, and electricity bills
  • Income tax documents: Form 16 and other income tax details
  • Proof of employment: Salary slips, if one is employed at an organization, account statements and address proof of one’s business’ physical location, if they run a business, or one’s invoices and financial statements if they are self-employed. 
  • Account details: Your most recent three months’ bank transaction details
  • Registration form: Your completed SBI DSA registration form with all your basic and financial details

 

SBI DSA Registration FAQ

An SBI DSA is a referral agent that works for the SBI bank to sell their financial products and increase their reach. An SBI bank DSA also guides loan applicants with their paperwork, recommends new credit card schemes, investments, and insurance policies to prospects, maintains records and also monitors customer queries.

To become an SBI DSA, you have to go to their official website and fill out their SBI bank DSA registration form online. After you fill in your personal and financial details, they will evaluate your profile. If you match their eligibility criteria, you will be called in for an interview.

An SBI DSA has to come up with innovative marketing techniques to sell more and more loan products. They are also responsible for guiding loan applicants throughout the sanction process and ensuring that everything is completed without any hassles. An SBI bank DSA partner also evaluates their prospect’s income and suggests the best loan product suited to their needs. 

An SBI DSA must position its products in a way that would convince prospects that their financial concerns will be alleviated by investing in them. They must also possess detailed knowledge of existing and upcoming SBI loan schemes, investment products, and insurance policies to recommend the best ones to their clients.

The State Bank of India does not have a fixed rule that you have to report to their physical branch every single day. You can fix your working hours and work from the convenience of your house. You just have to meet your monthly targets and consistently find new clients for the SBI.