DSA full form meaning in Banking is Direct Selling Agent. As its name suggests, the DSA is responsible for locating potential customers for the bank of the NBFC they represent. Simply put, these agents are looking for people interested in taking out a loan. Also, they ask for all the documents required for the loan process and application. DSAs also conduct inspections and due diligence to ensure that the documents submitted are original.
Role of a DSA
- Acquire the whole loan process from their leads, along with essential documents and papers.
- Perform a significant inspection of both the documents and the application.
- Ensure the submitted documents are genuine
- Submit or Upload all documents along with the application form.
- Offer their DSA code to track the submission.
Benefits of becoming a DSA
- Work anytime with flexible working hours.
- Handsome perks and payouts in the form of commissions.
- They are becoming a part of the credit industry and financial industries.
- Additional income from being a DSA.
- No risk, no high expenditures.
- No higher education is required.
- Flexibility to run own business with less cost
- Training is usually offered by the NBFC or the bank.