Things should need to know before applying for NBFC or Bank DSA Registration

Things should need to know before applying for NBFC or Bank DSA Registration

Jun 20, 2022By Admin

Non-Banking Financial Companies Direct Selling Agent is referred to as NBFC DSA. The registration of a person who works as a referral agent for NBFCs and banks is known as NBFC DSA Registration. They're known as Business Associates in rural areas. For the banks or NBFCs that they represent, the Direct Selling Agent assists in the identification of potential consumers. The produced leads are delivered to the relevant bank or NBFC.

NBFC DSA Registration Eligibility Criteria

In order to receive an NBFC DSA registration in India, you must meet the following requirements:

The applicant must be a citizen of India.

He should be over the age of 18 years.

A person in this position should be willing to work in the public sector.

He must be familiar with financial products.

He must be able to communicate effectively and inspire others.

What are the advantages of becoming a Direct Selling Agent for an NBFC?

The advantages of being an NBFC DSA are as follows:

It provides additional earning capacity, though the amount may vary from lead to lead.

It enables the start-up of a new firm with the least amount of risk and expense;

It allows for a variety of working hours;

There is no requirement for higher education.

Skill training is provided by the respective banks/NBFCs.

Customers advantages of NBFC DSA

Customers can take advantage of a variety of benefits. The following are a few of them:

Customers' complaints and questions are promptly resolved by direct selling representatives.

Customers can choose the best loan for their needs based on their budget.

Customers appreciate the exceptional after-sales service provided by Direct Selling Agents.

DSA's Financial Institution Benefits:

Financial institutions benefit from DSAs in the following ways:

They guarantee ease of local access.

They can find and shortlist potential consumers

They assist in raising awareness of financial products offered by institutions to the general public.

They efficiently engage loan seekers.

 They undertake initial verification and register client demands.

NBFC DSA's Responsibilities

Their responsibilities are as follows:

They gather the completed loan application as well as the needed papers from the clients;

They execute a preliminary check on both the application and the documents obtained;

They confirm that the documents collected are genuine and valid.

They upload or submit the application and any supporting papers.

Provide their DSA Code so that the application can be traced.

How to Register as DSA with Dealsofloan?

1. Download the Dealsofloan Partner App from the Google Play Store.

2. Complete your profile and register your bank account information to make a payment via bank transfer.

3. In the mobile app, add leads based on product information.

4. Carefully and appropriately fill in all fields according to the customer's papers.

5. Upload pdf / images of all necessary documents according to the product wise document list mentioned in app.

6. Instantly verify eligibility with several banks / NBFCs using an app.

7. Submit a loan/credit card application and obtain immediate approval/decision from the banks and NBFCs involved.

8. On the Partner App, go to "My Leads" to track the status of your loan or credit card application.


Step 1: Simply visit our official website at: using your web browser. You will be transported to the official Dealsofloan website. You can also go directly to the website by clicking the above link.

Step 2: Click on DSA Registration Button: On the dealsofloan website, there is a button labelled 'DSA Registration' at the top of the right side of the page. This button is highlighted in red. When you click that button, you'll be taken to the website's Loan DSA application page.

Step 3: Fill out the form: Once you've clicked on the Loan DSA application tab, fill out the form. Your basic contact information will be required.

Step 4: Conversation with our manager: When the confirmation is completed satisfactorily, the company's customer service, such as DealsofLoan, contacts you to clarify the next steps.

Step 5: Join the Loan or Bank DSA as a Partner: When the request has been granted and cross-checked, DealsofLoan will email you the CRM login details, where you may enter all information such as Lead Capture and so on.

A direct selling agent represents lending institutions to potential clients or loan seekers, which is a key role. Their primary goal is to promote and sell the lending institution's financial products. They are able to earn money for each lead they create (some percent of the actual loan amount). It's also worth noting that the services provided by Direct Selling Agents are subject to the Reverse Charge Mechanism's taxation.

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