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In today’s fast paced, competitive and moving world, we all are looking for convenience and need everything home delivered. From groceries, medicines, baby care, personal care, clothes, footwears, electronics and even Loans.

In the past few years, the government has even introduced Loans for everything we can think of. Home Loan, Vehicle Loan, Car Loan, Personal Loan, Education Loan and even Gold Loan. And thankfully, now we have these loans delivered at our doorstep.

I need a Quick Salaried Personal Loan – How can I find a Good DSA?

The competition has increased between the banking sectors, banks and financial companies. So banks like SBI, Bank of India, ICICI, HDFC, Kotak etc. have assigned business developers as DSA’s who give the best financial services to the clients. These DSA’s are given about a week’s training in which they are informed about the types of Loans that the bank sells and the rate of interest etc.. Once they are certified, they are given a code, just like a LIC agent. Then, it is their job to find the potential Borrowers in the market and contact them to know their requirements and the kind of Loan they are looking for.

 You may find a DSA through the Bank website. All you need to do is fill in your few basic details and request a call back from the DSA. You may also contact the Financial Service providers in and around your city. DSA’s are assigned by Nationalised Banks, Private Banks and also NBFCs.

Who are these Direct Selling Agents or Loan Agents?

DSA’s are people who serve as a link between the Loan Applicant and the Financial Company. These agents represent a nationalised bank or NBFC, The DSA’s communicate different loans available from a bank and its details to the customer. They have complete knowledge of a variety of Loans like Salaried Personal Loan, Business Loans, Loan against Property, They also know the best Loan Agency, who offers low interest rates, or low EMI’s, Safe Loans. These DSA’s become your personal Relationship Manager.

In short, we can say, a DSA is a Walking Library of Financial Services.

Can a DSA help me to procure a Loan as per my requirement?

The Direct Selling Agents (DSA) guide a customer to the Bank of the NBFC they represent. They solve all the queries of the customer and help them to fill out the complete Loan application. They also solve the smallest of queries or confusion or questions which we might have regarding the Loan application or the finance provider. Along with that, the DSA also does the preliminary background check of the customer, verify the documents and forward the complete Loan Application to the concerned Financial Institution. With the application, the DSA also submits his DSA code for the commission or the payout and also, if required, the application can be traced back to them for any queries.

How can I differentiate between Good DSA and a Bad one?

A good DSA will be transparent in their dealings. They would explain all the Loan plans and also suggest the best Loan as per your financial condition. A good DSA will also give you time to think, shop around with other banks, tell you the benefits and the drawbacks of going through with a loan. In short, a good DSA builds a long term relationship with you. Someone who will be there to advice you for all your Financial needs and investments.

Whereas, a not so good DSA, may force you to take the Personal Loan which they have suggested. They may not answer all your calls or queries and also try to pressurize you to complete the  Loan process within a limited period. They may also not give you enough time to think and only be thinking of their own personal targets and gains. Their sole aim would be to get the Personal Loan application filled in, along with the documents, as soon as possible, so that they get their payout at the earliest.


So it is a good idea to secure a Personal Loan through a DSA as they become a one point contact for all our queries which we might have regarding the Loan and also about the Bank or Financial company we are dealing with. But yes, we also have to be able to find a good DSA who will understand all our financial needs and requirements.