How to become dsa of bank

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CHIRAG DOSHI (Querist)

11 August 2012 Hi Friends,
Coming to the point, I'd like to become DSA for Bank Personal Loans & Home Loans. I prefer Private Banks like HDFC, ICICI, HSBC or RBS. Other Banks are also Welcome.

I've following queries.
1. What is the Procedure and Eligibiltiy Criteria to become Bank DSA?

2. Can an Individual, Fresher apply for DSA. Is prior experience must?

3. Is there any Security deposit or Fees to be paid to get DSA License? This is important to yake an informed decision.

4. Is Office Space and Manpower must? (Ofcourse, I'll make arrangements for a Office Space and manpower in 1-2 months, but before that I just wanna test the market and myself in this field).

5. What is the exact role of DSA? I mean, to my knowledge and Customer Acquistion and Documentation verification are must. But, apart from that, is there any other work to be done by DSA?

6. What are the Commission Rates for Personal Loans and Home Loans. This is very important for me to take an informed decision. So, plz don't skip this question.

In the meantime, clarify the above doubts. If I have any other queries, I'll drop a line.

Appreciate your help in this regard.

Regards,
Chirag Doshi

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

11 August 2012 Read the links:

https://www.icicibank.com/Personal-Banking/cards/pdf/dsacodeofconduct.pdf

https://www.idsa.co.in/images/pdf/howtodobusinessinindia.pdf

CHIRAG DOSHI

CHIRAG DOSHI (Querist)

12 August 2012 Sir,

I want To know regarding dsa code for loan

Message likes : 1 times

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

13 August 2012 firstly you must get registered in Service tax Department & got registered in pf department and vat department too.

your experience will be better for expansion on your future plan.

CHIRAG DOSHI

CHIRAG DOSHI (Querist)

17 May 2013 SIR,
WHAT IS THE TO REGISTER TO SERVICE TAX & VAT FOR GETTING DSA CODE AS OTHER DSA AGENT ARE ALSO NOT REGISTER

Prajjwal

Prajjwal (Expert)

03 July 2018 Yes, you would require to register under GST as per the latest provisions.
As far as DSA is concerned, every bank has their own requirements for DSA. I would recommend you to visit the webpage of the respective abnk and know their requirements and conditions.
DSA are required to bring more clients to the banks and in return they get a fixed % of commission on the amount of the loan.

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