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Customer Preferences for Home Loans

International Journal of Banking, Risk and Insurance

Volume 1 Issue 1

Published: 2013
Author(s) Name: Mahabir Singh Narwal, Sushma Rani, Radhi | Author(s) Affiliation: Kurukshetra, India.
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Abstract

Determining customer preferences ahead of time provides competitive advantage, avoids unnecessary spending, and helps quickly establish a solid following. Discovering customer preferences enables the banks to sell its services in advance and use the collected information to make its services perfect before placing it on the open market and develop an effective long-term marketing plan to get mileage. In the present study the data has been collected from 200 respondents and analyzed with the help of Factor Analysis and ANOVA. The findings reveal that the customer preferences for home loans is affected by customers’ friendly environment, processing and disbursing, rate of interest, payment terms and conditions, and freebies offered by the banks. To see whether there is any significant difference among these factors affecting customer preferences for home loans, the data was further analyzed according to demographic variables viz. occupation and income.

Keywords: Home Loans, Customer Preferences, Rate of Interest, Banks, and Services

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