Earn Commission on the Same Day by Partnering with Lendingkart Business Loan

Business loans are one of the most sought-after financial instruments that business owners use to keep the cash flow in the business. For convenience, Business owners are looking for the easiest ways to get their loan approved and want the procedure to be easier. In such situations, DSA agents or Direct Selling Agents are the people they rely on. DSA are the associates of the bank or non-banking financial company to assist them in getting clients. They also help business owners in their loan procedures. From guiding them about the loan procedure to filling their form till the disbursal of the loan. Once the whole procedure is done, DSA earns a commission or the loan that is approved through them.
How do Direct Selling Agents or DSA earn?
Since DSAs are only partners with banks or NBFC, they are not on the official payroll of the bank or NBFC. DSA doesn’t get any salary from the bank or NBFC. Direct Selling Agents agents’ earnings come from the commissions they get from personal or business loans. DSA needs to use its referral code to fill and submit the clients’ loan applications to earn commission on the loan. DSA usually gets 1% of the loan amount as commission behind each loan. The commission percentage can increase or decrease as per the loan amount. Loans above 30 lacs many get you commission of 1.5% to 3% depending on the institution of your association. Once the loan gets disbursed, the commission is paid to the DSA. Many banks or institutions pay commission on the same day as the loan disbursal. DSAs cannot ask for any money or incentive from their clients. They are paid by the banks or NBFCs. Many banks or NBFCs have strict rules against it. Lendingkart, a leading FinTech firm, pays commission the same day as that of the loan disbursal.
How to partner with Lendingkart?
Being a DSA agent in association with the bank or non-banking financial comes with many perks, and it has minimum eligibility criteria. Therefore, any working or non-working individual, as well as an institution, can become the DSA for Lendingkart. The following steps will guide on how to become a DSA agent with Lendingkart:
- Visit the official portal of Lendingkart with which you wish to partner as a DSA agent and make a submission of your DSA registration application – https://channel.lendingkart.com/dsachannelpartner-xlr8/partner/register
- The subsequent step is to deposit a payment. You can make payment either online or offline depending upon the bank or NBFCs policy.
- Once payment is completed, you need to submit the application form with all the necessary documents. Lendingkart will connect with you for the verification of the documents for the DSA Partnership.
- The Lendingkart authorized legal team or personnel will begin the processing by verifying your documents, previous credit history, and CIBIL points.
- Once each of the submitted documents and the furnished information are verified and if Lendingkart find you as a suitable person for their partner, they will offer the DSA agreement.
- You must place a signature and then make a submission of the agreement after reading it terms carefully.
- Lendingkart will provide a DSA loan agent code that is specific to you. This number is essential as this will be your referral ID.
Only after receiving the DSA loan agent code, you are treated as an official DSA partner with the bank or NBFC’s. You are required to incorporate this code to fill the form of your clients, upload their loan documents. Loans that are availed through the referral of your code will earn you commission on the loans.
Documents required for Registration of DSA
Every institution asks for different documents for DSA verification. However, there are some common and crucial documents that most institution asks for. Confirm with the institution with which you wish to partner regarding the documentation. Generally, you have to furnish the below documentation to register for a loan DSA partnership:
- Two passport-sized photos clicked recently
- Identity proof:
- PAN (Permanent Account Number) card
- Aadhaar
- Voter Identity card
- Valid Passport
- Residential proof (single)
- Aadhaar
- Voter Identity card
- Valid Passport
- Any utility bill of previous 6 months
- Address proof (firm or institution)
- Utility bills of previous six months
- Business registration form
- Bank transaction statements of the previous 90 days from the day of the DSA loan agent application. If you are registering as an individual, you must provide transaction details of personal bank account, and if you are applying as an institution then transaction details of an institution.
- Every Educational qualification mark sheet (Not required at many banks and NBFCs)
- Recently filled form16 of Income Tax returns from certified CA.
- If you are registering as an institution then you must furnish the firm’s registration details.
- GSTIN information (if applicable)
Eligibility criteria for the Direct Selling Agent registration process?
Eligibility criteria may differ from firm to firm.
- To become a DSA loan agent, you don’t need to be a degree holder in Finance or banking. Any individual or any institution from any background can become DSA.
- Any monthly wage earner or non-salaried individual can become a DSA loan agent.
- You need to have complete insights regarding the loan application process and the other loan-specific requirement of the bank or NBFC that you have partnered with.
- You need to be more than 18 years of age at the time of registration
- You need to be a resident of India.
- You need to have a decent credit past report with a minimum acceptable CIBIL score. It is a determining factor with many banks or NBFCs, including FinTech start-ups Lendingkart.
- Once you sign a contract with a Lendingkart, you cannot work as DSA with any other bank or institution.
Advantages of being a DSA loan agent
- Educational qualifications are not compulsory to work as a DSA loan agent. Any individual with reasonable education can work as a DSA loan agent.
- It is not a tough task and has no time restrictions; you can work at your leisure.
- College goers who are still studying can opt to be a DSA loan agents.
- You will receive the commission over every loan approved through your referral code. The higher the loan amount, the higher will be your commission.
- The more clients you get, the more earnings you get.

Read More:
How to Earn Commission of 2.5% – Become a business loan DSA agent with Lendingkart
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