Should I Take Loans from the DSA Agent Near Me or from the Lender Directly?

When you are considering taking a loan, it is better to evaluate all possible options before making a decision. Both lenders and DSA agents offer loans. A direct selling agent (DSA) works on behalf of the lending firm to promote their products. If it is your first time taking a loan or you are not sure if you are choosing the loan product, choose a DSA partner. They offer one-on-one services and will help you to choose the best financial product suited to your needs. 


Which is the better option- DSA or direct lender?

DSAs may offer greater convenience in terms of taking care of the documentation processes, but lenders have a greater degree of transparency. You can log in to a lender’s official website and check their available products. However, in today’s fast-moving world, no one has the patience to go through every single available loan from a lender. Individuals also have to compare lenders and see if they are getting the lowest interest rates, based on their income and credit score. In such cases, DSA agents are the better choice. Always make sure to choose loan agents from reliable firms for a greater degree of transparency and clarity about loan terms. 


Why choose DSA agents?

Here’s a quick list of the benefits you can enjoy if you choose to take loans through DSA agents instead of going to the lender directly. 


  • Expertise: The biggest benefit of consulting DSA partners is that they have the necessary financial expertise to help you make informed decisions. DSA loan agents evaluate your income and investments and offer loan product recommendations. At Andromeda Loans, the DSA partners use updated tools like home loan EMI calculators to check if loan applicants can pay back their amounts comfortably. Since they have adequate knowledge of the lending industry, investment strategies, and loan products, it is always best to consult them before applying for loans. 

  • Time-saving: You can save a lot of time and effort if you apply for loans through DSA agents. The primary role of loan agents is to evaluate your income streams and assets and comb through scores of loan products from different lenders to find the best one for you. You do not have to reach out to every lender or browse their websites and go through every loan’s characteristics to make a decision. Of course, you can also do your own research, however in everyone’s busy lives these days, DSA agents are a time-saver. 


  • Convenient: Another benefit of contacting DSA partners when applying for loans is that they guide you through the entire loan application process. You do not have to worry about your loan application getting rejected due to submitting the wrong documents nor do you have to follow up with lenders to hasten the process. DSA partners take care of every part of the process, from verifying your documents to ensuring that everything is in order to negotiate better loan terms on your behalf. 

  • No additional costs: The best part of reaching out to DSA loan agents to help with your loan application is that they do not ask for extra fees or commissions. DSA agents partner with lending firms to promote their products. Their monthly payment depends on the number of products they sell, hence they are very proactive and always have your best interests in mind when recommending you loan products. 

  • Personal advocate: DSA agents act as mediators between the lenders and the buyers. Since they are often the first point of contact with the lenders for many borrowers, loan agents advocate for better loan terms, repayment tenure, and the lowest interest rates. They negotiate on your behalf to help you get the best loan product with the lowest monthly EMIs. They also streamline the loan disbursal process to ensure that it is completed on time and the funds are transferred to your account promptly.

  • Understanding legal terms: Borrowers must read through their legal loan agreement to check if anything is amiss. There may be added costs or processing fees that will increase one’s total loan amount. If you do not want to take up the hassle of googling every legal term that you do not understand, reach out to loan agents. They can simplify the legal jargon, advocate on your behalf, and ensure that you do not sign anything that you do not understand. 

  • Personalized service: Loan agents are always in demand because they offer personalized guidance. Banks and NBFCs will never have the manpower or time to answer all your doubts. This is where DSA partners fill in the gap, constantly following up with you and answering all your queries. Loan partners also offer financial advice like how to avoid debt, how to properly use a credit card, money management tips, and the like. Loan agents, especially personal loan partners, also advise clients on how to use a large sum of money properly. 


Why do lenders collaborate with DSA agents?

Banks and NBFCs partner with DSA loan partners to increase their sales. In exchange for their services, DSA partners earn a percentage of the loan amount they sell. Collaborating with DSA partners helps reduce the workload of bank employees, for loan agents to take care of the paperwork, and speeds up the sanction process. The most important reason why lenders collaborate with DSA agents is to gauge customer response. Since DSA agents come in contact with the lender’s customer base more frequently, they can offer insights into customer preferences. 


To conclude

To each their own, but if you want to make an informed decision when applying for loans, it is always better to reach out to DSA agents. Look for reputed lending firms like Andromeda Loans because they have almost 200+ loan products listed on their website and they are known for quick loan disbursals with minimal paperwork. Well-known firms like Andromeda Loans take an active interest in helping their agents upskill and stay on top of trends. Their loan agents will help you with the paperwork and ensure that you receive your funds on time. You will also get personalized loan recommendations from Andromeda’s loan agents to alleviate all your financial concerns.