What is DSA?

DSA (Direct Selling Agent) is a term used primarily in the banking and financial services industry in India. A DSA acts as a representative or agent of a bank or financial institution and assists in sourcing and processing loan applications from customers.  

Overview

A DSA Partner is a professional financial advisor providing various services to their clients. Once registered with a DSA, they can also advise and provide loan services to their clientele. For a client, it provides an additional support in terms of various financial services, like Tax Planning, Investment advisory and others. In terms of overall outreach, a DSA partner can earn a decent some of money by registering with a DSA and refer credit products to both the retail and business loan requirements of their customers. 

For a customer who is already in touch with a financial advisor registered as a DSA agent, the partner becomes the first point of contact for the borrowers to understand a loan product as per their needs and then handles the end-to-end process of applying for and getting their loan approved from the bank. A DSA partner generally works in their own capacity and reaches out to various customers who are in need or are looking for a viable advice. 

The main job of a loan DSA Partner is to create a link between a registered DSA and their existing client base that are looking for a loan. They are also the agents who are there to help these individuals arrange funds from a wide range of lenders and act as a bridge between both the parties throughout the process. Also, they bear an additional responsibility of handling the documents, verification and submission. For a borrower, the DSA partner serves as a single resource for all administrative formalities regarding their loan application.