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December 1, 2023

Benefits of being a DSA

The DSA aka Direct Selling Agent acts like a bridge between the person interested in the loan and the bank offering the scheme. The best part is that a person who does not belong to the field of finance or banking can apply too for this position which would lead to a potential income stream apart from any other that the individual may have. A DSA can help a customer get an end number of loans based on their profile strength and approval received and for this, they are paid commission as per the DSA payout structure of the bank or NBFC.

The amount of the loan too plays a crucial role in determining the DSA payout structure. It is as simple as the agent receiving a much better cut from the amount of loan provided to the customer. As a commission that he/she would earn due to the scheme being sold by the NBFC/banks, etc, the DSA may earn Rs. 40,000. It may increase with respect to the amount being handed out leading to a 1-2% commission fee over the deal. The company (bank or NBFC) shall compensate the DSA payout structure as per case brokerage and a further brokerage on the amount of custom generated which will be conveyed to it from time to time against their making accessible to the company. The DSA will under no circumstance pass on the stated brokerage or piecemeal of it to any prospective candidates in any form whatsoever. The DSA will handle collection of the process cost from the client on behalf of the company and remit the equal to the company. Later the company shall hand out the DSA payout structure single-handedly as decided mutually by the company and the DSA.

DSA agents need to work genuinely hard because they’ve to perform numerous tedious duties, but the bounties they take are correspondingly fruitful. The banks and NBFCs that DSA agents work with always deliver ace advantages because these are the people who get in the most business. Listed below are a few of the many benefits enjoyed by a DSA –

  1. Eligibility criteria for a DSA are flexible and almost any adult person can start working as a DSA. The registration requires you to be an Indian citizen, above 18 years of age, and have a basic knowledge of loan products.
  2. You do not require an office, in fact, you can work from anywhere and anytime. You can manage your everyday routine and work as per your convenience. These days, working as a DSA is very lucrative because of the flexibility of time and place.
  3. Earlier, a DSA had to visit every client in person irrespective of sizzling sunny weather or cold evenings. But now, they can simply video call through apps like Zoom, or Google Meet and do multiple meetings in a single day.
  4. You become an authorized agent of a reputed Bank or NBFC, therefore you can grow your network with the brand name and smoothly start your own DSA business in the future.

These are only exterior-standing benefits. DSA loan agent commissions depend on their company, but typically, it’s about 0.4 per cent. Loan agent commissions at the top of the game can advance as high as 1 per cent for home and personal loans and 2 per cent for business loans.

The DSA payout structure i.e. commission solely can bag an agent further than the executive of the NBFC or bank they work with. The earning shot in this career is stunning for a hard-working being.

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