Who is a Direct Selling Agent?
DSA's job is to find clients for the bank they represent. To do this, DSAs look to people in the market for loans. These leads are routed to the concerned bank or NBFC and the loan process is proceeded.
For the effort the DSA puts in, compensation is offered. These payments are a percentage of the loan type and loan amount. These payments are a great way to earn a little extra cash. In agrestic areas, DSAs are known as business communicators.
DSA Registration Process
Needless to say, to become a drop shipping agent, there is a process to follow. One simply cannot wake up and start selling loans from the bank. You must register first. Various banks, non-bank financial companies and lending platforms have their own registration process.
The common steps are mentioned below to apply for DSA agents in GRD India financial services services :
- Visit directly to the GRD financial services Pvt Ltd by given address 45/8 1st floor, Ashok Nagar, Delhi -110018. Carry your necessary documents and submit your application. You can directly apply your online application by the given link https://www.grdindia.in/become-an-associate.php
- Make the payment which is necessary.
- After payment, the bank, NBFC or lending platform will contact you and ask you for certain documents.
- Your documents will then be verified and the legal team will begin the due diligence process and check your CIBIL score and credit history.
- If there are no issues with the background check, a DSA Enrollment Agreement will be sent to you with the correct stamp duty.
- Fill in the required information, then sign and submit the agreement.
- A DSA code will be sent to you.
- After receiving the code, you can start uploading your loan documents.
Documents required for DSA registration
The list of documents you need to submit for DSA registration is given below:
- Identity proof like PAN, Aadhaar, Passport, Voter ID, etc.
- Address proof like Electricity Bill, Aadhaar, Passport, etc
- Details of your bank transactions for the last three months.
- Details of Form 16 or Income Tax Return.
- Educational qualification certificates from school and college.
- Company registration details in case of applying to an institution.
- GSTIN details only if applicable.
- Two passport size photographs.
What are the eligibility criteria for the DSA registration process?
Eligibility criteria may vary by institution.
- you do not need a degree in banking or finance to become a DSA loan agent.
- Any salaried or unpaid individual can apply to become a DSA loan agent.
- You need comprehensive knowledge.
- You must be at least 18 years old.
- You must be an Indian citizen.
- You must have a good credit history and a good CIBIL score.
What are the benefits of being a DSA loan agent?
- Education is not mandatory as a DSA loan agent. Anyone with any educational background can become a DSA loan agent.
- It's not hard work. You can work in your spare time.
- Students who are still in education may choose to become a DSA loan agent.
- You get a good commission on every of the loan you take out with using your given referral code. The higher the loan amount, the higher your commission.
A person who acts as a recommended advisor to a bank or NBFC is called a direct selling agent, or DSA. The role of the DSA is to find new clients for the financial institutions it serves. The DSA will search for individuals who are looking for a loan. When these leads are transferred to the respective bank or NBFC, the loan application process will continue. A commission is paid for DSA work. This payment depends on the type and size of the loan. Plus, this dividend is a great way to earn extra income. DSA is known as a business partner in rural areas.