A personal loan is a type of multi-purpose credit that helps you meet financial needs. Since it is an unsecured debt, you can avail of the loan without pledging any collateral. Nowadays, you can get personal finance at competitive ROIs.
Traditionally, you can easily apply for a loan online or by visiting a lender’s office. Or, you can get help from a Direct Selling Agent (DSA).
If you are scouting for a lending option, this is the article for you. Have a look at this comparison of traditional vs DSA personal loan, weigh the benefits of both and decide what suits you best.
How do DSAs work?
A Direct Selling Agent generates potential leads for a lender means they find customers looking for loans. DSAs also conduct a background check of your application and collect and verify your documents.
Following are some benefits of getting a loan via a DSA:
Good customer support
A DSA is trained to guide you through every step of your loan application, approval, sanction, and disbursal process. Their customer-centric approach ensures you get satisfactory service and support.
Doorstep loan services
A loan direct selling agent typically provides you with doorstep services. They visit your home or office in person for the collection of documents, taking your signatures, clarifying your doubts, and so on.
Assistance for approval
Most DSAs offer end-to-end assistance. If you somehow have a low credit score, they can even guide you to take remedial steps. Moreover, if a personal loan DSAworks with multiple lending institutions, they will choose a lender with easy eligibility criteria to maximise your loan approval chances.
Additional Read: Things to Consider While Choosing a Personal Loan Lender
Advantages of getting personal finance traditionally
Provide minimal documentation
Nowadays, if you apply online, the process is 100% paperless. Upload the necessary documents on the lender’s online portal or mobile application, and post-approval, you receive the funds directly in your account.
With Tata Capital, you can quickly borrow amounts up to Rs. 25 lakhs by fulfilling limited paperwork requirements online.
Compare different lenders
You can compare various lending institutions’ interest rates, eligibility conditions, hidden charges, tenures, EMI plans, and additional benefits online. After proper research, you can select a lender and get the best loan offer.
Save your time
Applying for a loan online eliminates the need to visit your preferred lender’s physical branch. Just visit their website, check your loan eligibility, and apply. Fulfil Tata Capital’s easy eligibility criteria and secure your funds.
Get immediate approval
Once you meet all the eligibility criteria prescribed by the lender, you can expect instant approval and quick disbursal of funds. At Tata Capital, submit an online application and get your loan approved within minutes.
Additional Read: Online or In Person: Which is the Better way to get a Loan
Parting thoughts
Now that you understand the benefits of applying through a DSA or going for the conventional route choose an approach that suits your needs.
If you are looking for tailored personal finance offerings, turn to Tata Capital! With attractive interest rates starting at just 10.99%, get a loan amount up to Rs. 25 lakhs.
Use our personal loan EMI calculator to plan your interest payable, repayment tenure, and EMIs.
