A direct selling loan agent (DSA) is responsible for connecting the potential loan seekers to the direct lenders. They endorse and explain the various lending services offered by respective financial institution and look out for the documentation process. He/she is also committed to carry out fundamental checks and make sure that the submitted or the uploaded documents are in accordance with the guidelines laid down by the particular bank or NBFC, they are working for.
The direct selling agent (DSA) finds potential individuals seeking a loan for the financial institutions in the form of leads which are forwarded to the respective lender for further proceedings. The hard work of the loan agent is rewarded in the form of commission or a payout. It is primarily a percentage of disbursed loan quantum availed with every successful lead. This is the great way to earn extra along with your primary job as it offers flexible hours for working. There is an easy set of procedure for “DSA Registration“ that a person has to adhere to become loan agent.
Here are some easy online steps that are followed in the registration process:
√ Visit the website of particular financial institution and fill the registration form online.
√ You will be asked for certain documents and basic personal information for identity.
√ When your background check gets verified, you will be allowed to enter into a DSA agreement.
√ Before signing the agreement, fill the requested details and submit them.
√ The DSA code will be generated for you after you get registered successfully.
√ You can embark on work as a DSA officially once you get the license or code.
Once you have registered successfully and obtained DSA code, you will be provided with training by the financial institution. If you want to work with our firm ShubhBank, then you can sell loan products from leading banks and financial firms. You will learn how to secure the verified leads and to process them. You should have great communication skills in order to convince a loan seeker that why a particular product is best for them which will brings you more commission. You will perform the assigned duties well, once you are aware of working style taught to you during the training process.
It is the unique model for thousands of people to get business opportunity in their registered locations. It brings you the opportunity to earn exclusive income and to grow yourself professionally and transparently. Some of the benefits associated with this model are listed below:
√ Higher payout slabs.
√ Digital payouts.
√ Build own network.
√ Grow your business.
√ Flexible timings.
If you want to become a loan selling agent (DSA) “Apply For DSA Registration“ to fulfill the dreams of earning more. It is easy to become a channel associate with ShubhBank and start working as loan agent. Here, educational qualification is not a pre-requisite; you just need to have an urge to excel in the sale of loan services such as home loans, personal loan, gold loan and many more.
The role of DSA is almost same in every financial institution but when you apply for a loan selling agent for a particular lending institution, you have to go through a specific agreement that contains all the terms and conditions applicable. The loan agents are the one who connects a potential loan seeker to the lender, take care of the needed documentation for loan application forms, do fundamental evaluation and ensure that the submitted documents are in accordance with the guidelines of the particular lending institution. Here, we will discuss about what role does DSA play in loan processing and in its disbursal.
The code of conduct for “LOAN AGENT“ will be applicable to all the individuals employed by DSA who would be involved in marketing and distributions of the financial services of banks and NBFCs. If anyone fails to adhere with this requirement may result in permanent termination of the channel partner tie-up of the DSA with associated lending institution.
2. Tele-calling a potential borrower
A potential loan seeker has expressed his/her desire to take a product via lending website/branch or has been referred by another client or through the an existing customer of the associated bank who has given acceptance for receiving calls for the other services of the bank or NBFC.
3. Keep the secrecy of borrower’s interest
The customer’s privacy should be the first and foremost priority of the “DSA“. If the borrower would authorize then any other individual/spouse/accountant/family member can be contacted.
4. Messages and contacting the borrower
DSA should make a call to the borrower only. However the customer is not available, a message may be delivered to him/her with the objective of getting the customer to call back or to check for a convenient time to call him/her again.
5. Misrepresentations are prohibited
The DSA cannot give misrepresentation of any offered service/product or about the bank and NBFC to the customer and can’t make the false promises on behalf of the bank or any lending institution.
6. Contacting Etiquettes
1. Always make a call between office hours.
2. No calls if you figure out the do not disturb numbers.
1. Give a brief introduction of yourself.
2. Seek a permission to proceed with your product and don’t force if denied.
3. Try to talk in the language that is most comfortable to the customer.
If a loan seeker plans to buy the financial product:
1. Confirm the next call with customer.
2. Provide your contact number if anyone ask for it.
3. Gratify the customer for giving his/her valuable time.
7. Do not accept any bribe
DSA must not accept any kind of bribe offered by the customer. She/he must inform about this act to the management.
8. Few precautions to be taken
• Respect the privacy of customer.
• Do not intrude the client’s office/residence without his/her permission.
• Take care of borrower’s requirements.
• Maintain a healthy and professional relationship.
9. Handling the letters
DSA should follow the prescribed format assigned by the particular lending institution.