What is a Bank DSA?
Bank DSA refers to a Direct Sales Agent, a person or individual, who works as a mediator between banks and people looking out for loans and generally offers counsel for free. A DSA’s role as a Bank DSA or a DSA Business ranges from finding customers seeking loans, to due diligence, and loan disbursement.
In the same way, the agent helps customers find the best suitable bank, helps them with the proper paperwork and assists them till the loan amounts are deposited into their accounts. Having tie-ups with many banks and NBFCs, DSAs are considered experts in the loan industry. People looking out for loans such as home loans, business loans, mortgage loans, car loans, working capital, personal loans, credit cards, etc., can find a suitable loan under one roof with many options.
How is a Bank DSA Business Profitable?
Working as an agent between banks and customers provides a Bank DSA or a DSA Business an opportunity to receive commissions in terms of pay-outs on each loan. The more the disbursals, the more the pay-outs received. Many banks have slab-wise programs, which provide for bonus pay-outs if targets are completed.
In the past, the loan markets were not as huge, since people were nervous about taking loans from banks due to high-interest rates; but now taking loans has become a trend as people want to fulfill their desires such as buying properties, cars, going on trips, or any other personal needs. In the financial year 2021, the total amount lent by the banks in India was to the tune of Rs. 156.9 lakh crores, which included retail, microfinance, and commercial lending.
Benefits of being A Bank DSA
The benefits of being a Bank DSA or a DSA Business are many, some of which are mentioned below.
- A DSA Business generally works flexible hours, so one can work full-time or part-time, and as per suitable schedules and times.
- One can earn big-time commissions depending on the quality and quantity of leads he or she generates.
- A DSA can start earning right from the very first day if already related to the banking sector, and has knowledge of how the loan industry works. DSAs new to this field need not worry too, since by spending some months hands-on in the processes, one can become an expert.
- As a channel partner, a Bank DSA has a great opportunity to work part-time also and can earn large commissions as well, since lead generation comes quite easy due to market demand.
- A Bank Direct Sales Agency requires no financial investments.
- Satisfied customers with loans disbursed successfully, generally refer friends and relatives to the same DSA.
Ruloans Distribution Services Private Limited (RDSPL), popularly known as Ruloans happens to be one of the leading Loan DSA Businesses in the market today, and continues to grow professionally with functional financial experts. Having partnered with more than 150 banks and NBFCs, the company has a presence in more than 1600 cities across India. Recognized as a one-stop shop for all your financial needs, Ruloans disburses approximately Rs. 1900 to Rs. 2000 crores per month, pan-India.
Should you be interested in being a Ruloans DSA Business Partner to start your own DSA Business click here, or if you’re shopping for a loan deal please visit ruloans, or call a Ruloans expert on 1800 266 7576 for much more than money.