A Direct Selling Agent (DSA) is a referral agent who sells or distributes products on behalf of their affiliated company. Financial institutions like HDFC partner with DSA agents to expand their customer base. HDFC is a leading bank in India and has a wide range of financial products like loan options, credit card offers, insurance & mutual funds.
In this post we will guide you on how to become HDFC home loan agent, benefits, eligibility and process.
What Is the Purpose of Banks Hiring DSA Agents?
Banks and lending institutions hire DSA agents to offload some of their work. Traditional banks don’t have the manpower and time to give personalized attention to each customer. DSA agents fill this gap by providing personal financial advice, helping loan applicants with their documents, maintaining records for the bank and resolving customer queries.
DSA partners generate huge business for banks and expand their reach. In return for their services DSA agents earn commission based on the profit generated by the bank from the sold products. This is cost effective for banks as they save on full time employee benefits and pay DSA agents higher service fees. Also DSA agents create strong communication channel between banks and customers through their personal interaction with customers.
Steps to Become an HDFC Home Loan Agent
Becoming HDFC home loan agent is a simple registration process. Here’s a step by step guide to get you started:
Step 1: Visit the Official Website
To apply for dsa HDFC registration online visit the official website of HDFC Bank. Click on DSA partner program. Fill the basic details like your name, address and mobile number. Or you can also sign up as a direct selling agent HDFC with Ruloans.
Step 2: Create a Username and Password
After filling your personal details create an account with username and password. You also need to fill other KYC identification details and submit proof like aadhar card, voter id and pan card.
Step 3: Read the Terms and Conditions
Read the terms and conditions, working hours, additional duties and responsibilities of HDFC DSA agent before you proceed to the next step of the application process.
Step 4: Enter Your Financial Information
You need to fill your previous work experience, income, assets and annual income in the DSA registration form online.
Step 5: Attend the Interview
If your profile is selected your documents will be verified and you will be called for an in-person or virtual interview. The interviewer will assess your capabilities and explain the role of HDFC loan advisor, their products and monthly targets.
Step 6: Sign the DSA Agreement
If you are satisfied with the commission percentage and agree to the terms and conditions you will be asked to sign the DSA agreement. This written contract protects the interest of both the bank and the agent.
Step 7: Complete Your Training Modules
After signing the DSA agreement you need to complete the online training modules to learn about the existing and upcoming HDFC products. As a DSA agent you also need to think of innovative marketing strategies to promote the benefits of investing in their products.
Eligibility Criteria to become HDFC Home Loan Agent
- Legal Adult: You should be above 25 years of age to work as HDFC DSA agent.
- Indian Citizen: You should be an Indian citizen to work as HDFC DSA agent.
- Salaried or Non-Salaried: Both salaried and non-salaried can apply for the role of HDFC loan partner.
- No Professional Degrees Required: You don’t need a degree in finance, banking or accounting to work as HDFC DSA agent. Good negotiation and communication skills are required, and the on-job training modules offered by HDFC will help you to develop these skills.
- Good CIBIL Score: Although not mandatory by HDFC Bank having a good CIBIL score shows that you can pay back your debts on time. Poor CIBIL score may hinder your ability to advice others on finances.
Documents Required for Registration as HDFC Home Loan Agent
To register as HDFC home loan agent you need to submit the following documents:
- Your phone number, Soft copy PAN card, Aadhaar, passport, voter ID, etc.
- Two passport size photographs for individuals or GST for firms at the time of DSA loan registration.
- Proof of employment: Salary slips if employed, account statements and address proof if running a business, or invoices and financial statements if self-employed.
- Account details: Your last three months’ bank statement.
- Registration form: Completed HDFC DSA registration form with all your personal and financial details.
Register Online HDFC Bank Home Loan Agent
Many financial service providers have online loan application portal for HDFC home loan agent registration. For example Ruconnect App by Ruloans is India’s first B2B Loan Distribution Channel Partner App, designed for DSAs. By combining KYC and document submission during application, potential DSAs have a seamless experience and faster approval.
Benefits of working as HDFC Home Loan Agent with Ruloans
- Higher Pay
As an HDFC Home Loan Agent with Ruloans you get attractive commissions for your DSA agents. For every loan product you sell you get a percentage of the total loan amount.
- No Investment Required
You don’t need professional degrees in banking or finance to start working as HDFC DSA agent. There is no merit based selection in this field.
- Offer Attractive Interest Rates to Clients
HDFC is one of the best bank in the country that offers best interest rates to their customers. As an HDFC DSA agent you can better serve your clients.
- Multiple Products to Offer
As an HDFC DSA agent you can offer your clients multiple financial products including latest investment schemes, HDFC credit card DSA launches and loan products.
- Work as you comfort
One of the best parts of working as HDFC loan distributor is you don’t have to visit physical branch of your institution and can set your own schedule.
Final Words!
Registering as HDFC home loan agent with Ruloans is a great career option, where you can earn higher commissions, work with multiple financial products and set your own schedule. With Ruloans having over 25,000+ distribution partners and robust partnerships with 265+ private banks, PSU banks, NBFCs and financial companies, you will have all the support and resources you need to succeed. Simple registration process, comprehensive training modules and innovative Ruconnect App makes your journey to financial services smoother and faster. Join Ruloans today and start your journey to a brighter future as HDFC home loan agent.
