Become a Loan DSA with Andromeda Loans in 6 Easy Steps

A Direct Selling Agent or loan DSA channel partner makes loan applications easier for borrowers. They partner with lending institutions like banks and NBFCs to simplify the legal jargon and assist individuals with the documentation. Small to mid-range business owners and individuals applying for personal loans seek loan DSA agents to facilitate the sanction process and answer their queries. 

Become a Loan DSA with Andromeda Loans in 6 Easy Steps

How to Become a DSA Channel Partner Online?

You have to follow a few steps in order to begin working as a loan DSA channel partner with banks or NBFCs. 

  • Sign Up for the Partner Program: The first step to becoming a loan DSA partner online is to sign up on their official website. Any bank or NBFC’s official website will have an option called ‘Partner Program’. Click on it. 

 

  • Fill in the Required Details: Once you click on the ‘Partner Program’ on a lending institution’s official website, a registration form will be displayed on your screen. Fill in the required details and submit the form to complete the online DSA registration process. 


  • Show up for the Interview: If your online application is accepted, the institution’s staff will contact you for an interview. The interviewers would want to assess your abilities and check if you are a good match for the role of a DSA agent. They would also tell you about the loan sanctioning processes, the terms and conditions, and loan products. 


  • Understand the Products: During the interview, you have to understand how to generate leads for the loan facilitators. To do that, you need sufficient knowledge of the products. The interviewers will walk you through the process of finding interested individuals in the market and convincing them to choose your loan facilitator’s product. 


  • Sign the DSA Agreement: A DSA agreement is a written contract between the lending institutions and the DSA agent, who is authorized to sell loan products on the facilitator’s behalf. If you agree to the terms and conditions of the lending institution and they are also convinced of your abilities, you will be required to sign the DSA agreement and will be onboarded as a loan DSA agent. 


  • Undergo Training: After you have signed the loan DSA agreement, you will be officially inducted into the organization.  Loan facilitators like Andromeda Loans, offer various on-job training modules that will familiarize you with the products and the loan sanction processes to help you excel as a loan DSA agent. 


Eligibility Criteria to Become a DSA Partner Online


  • If you want to work as a loan DSA agent anywhere in the country, you must be above 18 years of age and a citizen of India. 

  • Both salaried and non-salaried individuals can apply to become a loan DSA agent. 

  • You do not need any professional qualifications, but you must possess some knowledge about loan products and complete the on-job training modules that most loan facilitators offer. 

  • It is not a mandatory pre-requisite for every lending institution, but you must have a high credit and CIBIL score. 


If you already have a pool of clientele like tax advisors and chartered accountants, you will find it easier to adapt to the legal jargon.  Make sure to use that social network to your advantage as a DSA agent. 


Documents Required to Become a DSA Partner Online

If you want to become a DSA partner online, you have to submit the following documents to the lending institution you want to apply for. 


  • Proof of identity like PAN card, Aadhar Card, Voter ID, etc.

  • Proof of address like a utility bill, passport, driving license, etc.

  • Form 16 or Income Tax Returns details

  • Your most recent 3 months' bank transaction details

  • Andromeda Loans registration details 

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