Customer Perception Towards Borrowing Bank Loans: An Empirical Study

Customer Perception Towards Borrowing Bank Loans: An Empirical Study

Chandra Sekhar Patro (Department of Management Studies, GVP College of Engineering (Autonomous), Visakhapatnam, India)
DOI: 10.4018/IJPMAT.2015010103
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Abstract

In the present life of an individual finance is an important aspect. This finance is provided by banks to almost all the individuals and all types of business enterprises. Banks provide loans for agriculture, industry, trade, commerce and personal needs of individuals. The growth of banking sector has been highly depending on the needs of the customers, cost of service offered, level of income, repaying capacity, expectation of the customer and the service quality. The banking system is facing challenges with stiff competition and advancement of technology. It becomes imperative for service providers to meet or exceed the target customer's satisfaction with quality of services expected by them. Hence, the present study is an attempt to know the customers' perception towards different banks and the problems faced while borrowing the loans from the banks. It also throws light on the quality of services, both transaction based and IT enabled in terms of its constituent factors in public sector, private sector and foreign banks.
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Objectives Of The Study

The study focus on the loans provided by different banks, the strategies adopted by the banks for promoting loans, in addition to identifying the problems in availing banks loans. In tune with this the following specific objectives are framed.

  • 1.

    The main objective of the present study is to know the customers’ perception towards availing loans from different banks;

  • 2.

    To identify the problems faced by the customers’ while borrowing loans from the banks;

  • 3.

    To analyze and evaluate the important factors or reasons that influenced the customers’ while availing loans;

  • 4.

    To offer recommendations for the effective marketing of consumer loans by the banks by developing appropriate promotional strategies.

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