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Kultur Dokumente
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Annexure Bibliography
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Declaration
1
I Abhishek Silla hereby declare that following documented project titled Customers Perception towards State Bank of Indias Loan (SBI) product. Is an organized and authentic work done by me for the partial fulfillment for Master of Business Administration at Destimoney. All the endeavors put in the fulfillment of the task are genuine and original to the best of my knowledge.
Acknowledgement
It is my proud privilege to release the feelings of my gratitude to several persons who helped me directly or indirectly to conduct this project work. I thank to my teacher and my faculty guide Prof. Umesh kasar, Prof. Vinod Khair For institute of D.B.Pawar college of management , kalwan and to my corporate guide Mr. Suresh Gulve RMME, SBI IFB Malad Branch, Mr. Pravin Hakim, Customer Support Officer (CSO), SBI IFB Malad Branch for their sincere guidance and inspiration in completing this project. I am extremely thankful to the Director, and faculties of the Institute for their coordination and cooperation. I am also extremely thankful to all those persons who have positively helped me and customers who responded my questionnaire, around whom the whole project cycle revolves.
Thanking You
Executive Summary
In the ever growing competition, the behavioral aspect of consumers Is the core concept & is also an essential aspect for any business concern. This topic deals with the CUSTOMERS PERCEPTION TOWARDS THE LOAN PRODUCT OF STATE BANK OF INDIA (SBI BANK). This project report includes five different chapters. The report begins with the introduction to company, its area of operation, its organization structure, its achievements, etc. The second chapter is the introduction to the Loan Product which gives a brief idea regarding LOAN PRODUCTS of SBI BRANCH of Malad(W), Mumbai where the project is undertaken. It also contains the objectives and limitations of the project. The third chapter, methodology adopted in preparing this report is mentioned. It covers the sample procedure, types of data used and the data collection method. The fourth chapter shows the analysis of data through tabulation, computation and also graphical representation of data collected from survey. The fifth chapter deals with the findings, suggestion & conclusion part after analysis is made. The sixth chapter the recommendation part is covered which are made after a depth study of the analysis part of thesis. In each of the five chapters as described above, every chapter has been presented in a manner so as to enable the reader to view the contents easily. The report includes figures and data wherever necessary for the reader to have good understanding of the topic.
Company Profile:
Overview History Competitors Strength/Opportunity & Weakness/Threats Different Products Awards & Recognitions by SBI
OVERVIEW
State Bank of India is the largest and one of the oldest commercial bank in India, in existence for more than 200 years. The bank provides a full range of corporate, commercial and retail banking services in India. Indian central bank namely Reserve Bank of India (RBI) is the major share holder of the bank with 59.7% stake. The bank is capitalized to the extent of Rs.646bn with the public holding (other than promoters) at 40.3%. SBI has the largest branch and ATM network spread across every corner of India. The bank has a branch network of over 14,000 branches (including subsidiaries). Apart from Indian network it also has a network of 73 overseas offices in 30 countries in all time zones, correspondent relationship with 520 International banks in 123 countries. In recent past, SBI has acquired banks in Mauritius, Kenya and Indonesia. The bank had total staff strength of 198,774 as on 31st March, 2006. Of this, 29.51% are officers, 45.19% clerical staff and the remaining 25.30% were substaff. The bank is listed on the Bombay Stock Exchange, National Stock Exchange, Kolkata Stock Exchange, Chennai Stock Exchange and Ahmedabad Stock Exchange while its GDRs are listed on the London Stock Exchange. SBI group accounts for around 25% of the total business of the banking industry while it accounts for 35% of the total foreign exchange in India. With this type of strong base, SBI has displayed a continued performance in the last few years in scaling up its efficiency levels. Net Interest Income of the bank has witnessed a CAGR of 13.3% during the last five years. During the same period, net interest margin (NIM) of the bank has gone up from as low as 2.9% in FY02 to 3.40% in FY06 and currently is at 3.32%.
Management
The bank has 14 directors on the Board and is responsible for the management of the Banks business. The board in addition to monitoring corporate performance also carries out functions such as approving the business plan, reviewing and approving the annual budgets and borrowing limits and fixing exposure limits. Mr. O. P. Bhatt is the Chairman of the bank. The five-year term of Mr. Bhatt will expire in March 2011. Prior to this appointment, Mr. Bhatt was Managing Director at State Bank of Travancore. Mr. Bhatt has more than 30 years of experience in the Indian banking industry and is seen as futuristic leader in his approach towards technology and customer service. Mr. Bhatt has had the best of foreign exposure in SBI. We believe that the appointment of Mr. Bhatt would be a key to SBIs future growth momentum. Mr. T S Bhattacharya is the Managing Director of the bank and known for his vast experience in the banking industry. Recently, the senior management of the bank has been broadened considerably. The positions of CFO and the head of treasury have been segregated, and new heads for rural banking and for corporate development and new business banking have been appointed. The managements thrust on growth of the bank in terms of network and size would also ensure encouraging prospects in time to come.
Corporate Banking
National Banking
International Banking
Treasury Operations
HISTORY
The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (2 January 1809). A unique institution, it was the first joint-stock bank of British India sponsored by the Government of Bengal. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921. Primarily Anglo-Indian creations, the three presidency banks came into existence either as a result of the compulsions of imperial finance or by the felt needs of local European commerce and were not imposed from outside in an arbitrary Manner to modernize India's economy. Their evolution was, however, shaped by ideas culled from similar developments in Europe and England, and was influenced by changes occurring in the structure of both the local trading environment and those in the relations of the Indian economy to the economy of Europe and the global economic framework. The three banks were governed by royal charters, which were revised from time to time. Each charter provided for a share capital, four-fifth of which were privately subscribed and the rest owned by the provincial government. The members of the board of directors, which managed the affairs of each bank, were mostly proprietary directors representing the large European managing agency houses in India. The rest were
government nominees, invariably civil servants, one of whom was elected as the president of the board.
SBI provides a range of banking products through its vast network of branches in India and overseas, including products aimed at NRIs. The State Bank Group, with over 16,000 branches, has the largest banking branch network in India. With an asset base of $260 billion and $195 billion in deposits, it is a regional banking behemoth. It has a market share among Indian commercial banks of about 20% in deposits and advances, and SBI accounts for almost one-fifth of the nation's loans. SBI has tried to reduce over-staffing by computerizing operations and "GOLDEN HANDSHAKE SCHEME" that led to a flight of its best and brightest managers. These managers took the retirement allowances and then went on to become senior managers in new private sector banks. The State bank of India is the 29th most reputed company in the world according to Forbes.
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BUSINESS
The business of the banks was initially confined to discounting of bills of exchange or other negotiable private securities, keeping cash accounts and receiving deposits and issuing and circulating cash notes. Loans were restricted to Rs.one Lakh and the period of accommodation confined to three months only. The security for such loans was public securities, commonly called Company's Paper, bullion, treasure, plate, jewels, or goods 'not of a perishable nature' and no interest could be charged beyond a rate of twelve per cent. Loans against goods like opium, indigo, salt woolens, cotton, cotton piece goods, mule twist and silk goods were also granted but such finance by way of cash credits gained momentum only from the third decade of the nineteenth century. All commodities, including tea, sugar and jute, which began to be financed later, were either pledged or hypothecated to the bank. Demand promissory notes were signed by the borrower in favour of the guarantor, which was in turn endorsed to the bank. Lending against shares of the banks or on the mortgage of houses, land or other real property was, however, forbidden. Indians were the principal borrowers against deposit of Company's paper, while the business of discounts on private as well as salary bills was almost the exclusive monopoly of individuals Europeans and their partnership firms. But the main function of the three banks, as far as the government was concerned, was to help the latter raise loans from time to time and also provide a degree of stability to the prices of government securities.
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COMPETITORS
Competitors and other players in the field:Top Performing Public Sector Banks Andhra Bank Allahabad Bank Punjab National Bank Bank of Baroda Union Bank of India Top Performing Private Sector Banks HDFC Bank ICICI Bank AXIS Bank UTI Bank Federal Bank
Top Performing Foreign Banks Citibank Standard Chartered HSBC Bank Barclays Bank PLC ABN AMRO Bank
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Strength/ Opportunities:
The growth for SBI in the coming years is likely to be fuelled by the following factors: Continued effort to increase low cost deposit would ensure improvement in NIMs and hence earnings. Growing retail & SMEs thrust would lead to higher business growth. Strong economic growth would generate higher demand for funds pursuant to higher corporate demand for credit on account of capacity expansion.
Weakness/ Threats:
The risks that could ensue to SBI in time to come are as under: SBI is currently operating at a lowest CAR. Insufficient capital may restrict the growth prospects of the bank going forward. Stiff competition, especially in the retail segment, could impact retail growth of SBI and hence slowdown in earnings growth. Contribution of retail credit to total bank credit stood at 26%. Significant thrust on growing retail book poses higher credit risk to bank. the
Delay in technology up gradation could result in loss of market shares. Slow down in domestic economy would pose a concern over credit offtake thereby impacting earnings growth.
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DEPOSIT Savings Account Life Plus Senior Citizens Savings Account Fixed Deposits Security Deposits Recurring Deposits
Personal Loans Car Loan Loans against Securities Two Wheeler Preapproved Loans Retail Asset
Partnership Cards
Purchase Card
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Award for being the strongest bank in Asia Pacific region, instituted by the Qatar Financial Centre Authority and the Asian Banker magazine.
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SBI Advance Product Statement the Problem Research objectives Significance and scope
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Now a day a large no. of people are taking loan form different banks. It helps people to fulfill their need and it really easy to repayment the loan amount with a longer repayment period.
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Eligibility :Minimum age 18 years as on the date of sanction Maximum age limit for a Home Loan borrower is fixed at 70 years, i.e. the age by which the loan should be fully repaid. Availability of sufficient, regular and continuous source of income for servicing the loan repayment.
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Interest Rates;Loan Schemes SBI HI-FIVE Loan Loan Amount up to Rs. 5 Lacs SBI Easy Home Loan 8.00% (p.a.) Fixed interest rate 1st Year 2nd and 3rd year After 3rd Year
8.00% (p.a.)
Loan Amount up to Fixed interest rate Rs. 50 Lacs Note: - Interest rate after three years may be Fixed or Floating as per the borrowers choice
made at the time of sanction.
9.00% (p.a.)Floating 9.00% (p.a.)Floating Interest Rates Interest Rates OR OR 10.50% (p.a.) 10.50% (p.a.)Fixed Fixed Interest Rates Interest Rates 9.00% (p.a.)Floating Interest Rate 8.50% (p.a.) OR 10.50% (p.a.) Fixed Interest Rate Fixed Interest Rate
provided they have a steady income and his/ her salary account is maintained with SBI.
2. Expected rent accrual (less taxes, cess, etc.) if the house/ flat
being purchased is proposed to be rented out. 3. Depreciation, subject to some conditions. 4. Regular income from all sources
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CAR LOAN
Purpose
You
A new car, jeep or Multi Utility Vehicles (MUVs) A used car / jeep (not more than 5 years old). (Any make or model). Take over of existing loan from other Bank/Financial institution (Conditions apply)
Eligibility
To avail an SBI Car Loan, you should be:
Individual between the ages of 21-65 years of age. A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or A Professionals or self-employed individual who is an income tax assessee or A Person engaged in agriculture and allied activities. Net Annual Income Rs. 100,000/- and above.
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Type of Loan
1. Term Loan 2. Overdraft a) For New vehicles only b) Minimum loan amount: Rs. 3 lacs.
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interest rate will be reset to applicable card rate contracted on the date of sanction. Currently the rates are
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Interest Rate
Period
For 4th & 5th year For 6th & 7th year
3.75% above Base Rate i.e.11.25% 4.00% above Base Rate i.e.11.50%
Term Loan
Overdraft
4.25% above Base Rate i.e.11.75% 4.50% above Base Rate i.e. 12.00%
Processing Fees
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Documents required
You would need to submit the following documents along with the completed application form if you are an existing SBI account holder: Statement of Bank account of the borrower for last 12 months. 2 passport size photographs of borrower(s). Signature identification from bankers of borrower(s). A copy of passport /voters ID card/PAN card. Proof of residence. Latest salary-slip showing all deductions I.T. Returns/Form 16: 2 years for salaried employees and 3 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable to be submitted. 8. Proof of official address for non-salaried individuals. If you are not an account holder with SBI you would also need to furnish documents that establish your identity and give proof of residence. 1. 2. 3. 4. 5. 6. 7.
Repayment
You enjoy the longest repayment period in the industry with us. Repayment period: For Salaried: - Maximum of 84 months For Self-employed & Professionals: Maximum 60 months Repayment period for used vehicles: Up to 84 months from the date of original purchase of the vehicle (subject to maximum tenure as above).
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2. Used Vehicles:Tenure Up to 3 years Above 3 yrs Rate of Interest 7.25% above Base Rate i.e. 14.75% p.a. 7.50% above Base Rate i.e. 15.00% p.a.
3. Prepayment Penalty:
Prepayment fee of 2% of the amount of the loan prepaid will be levied subject to certain conditions
Repayment Period Up to 3 years (for loans Rs. 7.5 lac & above) Up to 3 years (for loans below Rs. 7.5 lac) Above 3 yrs up to 5 yrs (for all loans) Above 5 yrs up to 7 yrs (for all loans)
All Centers (SBAR 12.25%) 0.75% below SBAR i.e. 11.50% p.a. 0.50% below SBAR i.e. 11.75%p.a. 0.50% below SBAR i.e. 11.75% p.a. 0.25% below SBAR i.e. 12.00% p.a.
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EDUCATION LOAN
A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
Eligible Courses
All courses having employment prospects are eligible.
Graduation courses/ Post graduation courses/ Professional courses Other courses approved by UGC/Government/AICTE etc.
Fees payable to college/school/hostel Examination/Library/Laboratory fees Purchase of Books/Equipment/Instruments/Uniforms Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tuition fees for the entire course) Travel Expenses/Passage money for studies abroad Purchase of computers considered necessary for completion of course Cost of a Two-wheeler up to Rs. 50,000/-
Any other expenses required to complete the course like study tours, project work etc.
Amount of Loan
For studies in India, maximum Rs. 10 lacs Studies abroad, maximum Rs. 20 lacs
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Interest Rates
Base Rate 7.50 % (w.e.f. 01.07.2010) Loan Amount For loans up to Rs.4 lacs Rate of Interest
3.75% above Base Rate, currently 11.25% p.a. Above Rs.4 lacs and up to Rs.7.50 5.25% above Base Rate, currently lacs 12.75% p.a. Above Rs.7.50 lacs 4.25% above Base Rate, currently 11.75% p.a. (0.50% concession in interest for girl student)
Processing Fees
No processing fee/ upfront charges Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money
Repayment Tenure
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.
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Security
Amount Up to Rs. 4 lacs For loans up to Rs. 10.00 lacs for Studies in India and up to Rs. 20.00 lacs for studies abroad No Security Collateral security in the form of suitable third party Guarantee. The bank may, at its discretion, in exceptional cases, waive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as "joint borrower" Tangible collateral security of suitable value, along with the assignment of future income of the student For payment of installments. All loans should be secured by parent(s)/guardian of the student borrower. In case of married person, co-obligator can be spouse or the parent(s)/ parents-in-law
Margin
For loans up to Rs.4.0 lacs : No Margin For loans above Rs.4.0 lacs: Studies in India: 5% Studies Abroad: 15%
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Documentation Required
Completed Education Loan Application Form. Mark sheets of last qualifying examination Proof of admission scholarship, studentship etc Schedule of expenses for the specified course 2 passport size photographs Borrower's Bank account statement for the last six months Income tax assessment order, of last 2 years Brief statement of assets and liabilities, of the Co-borrower Proof of Income (i.e. Salary slips/ Form 16 etc)
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Eligibility
You are eligible if you are a salaried individual of good quality corporate, self employed engineer, doctor, architect, chartered accountant, MBA with minimum 2 years standing.
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Margin We do not insist on any margin amount. Interest Rates 16.00% PA Repayment The loan is repayable in 48 EMI. You are allowed to pay more Than the EMI If you wish to, without attracting any prepayment penalty. Security NIL Processing Fee Processing charges are 1-2% of the loan amount. This is amongst The lowest fees in the industry. Processing fees have to Be paid up front. There are no hidden costs or other Administrative charges.
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PROPERTY LOAN
A dream comes true! An ALL PURPOSE LOAN for anything that life throws up at you!! Do you need funds for a Marriage ceremony, want to take your family to a well-deserved holiday or for a sudden medical emergency? You have some property, but would rather not sell it? Then why not avail of this ALL PURPOSE LOAN from SBI? SBI now makes it very much possible for you to only keep your property but also have liquid funds.
Enjoy the SBI Advantage; Complete transparency in operations Access this loan from our wide network of branches Interest rates are levied on a monthly/daily reducing balance method Lowest processing charges. Long repayment period of 60 months, up to 120 months for salaried individuals with check-off facility No Hidden costs or administrative charges. No prepayment penalties. You can have surplus funds at any time thereby conveniently reducing your loan liability and interest burden.
Purpose
This is an all purpose loan, i.e., the loan can be obtained for any purpose whatsoever. If amount of loan is Rs.25.00 lacs and above then purpose of loan will have to be specified along with an undertaking that loan will not be used for any speculative purpose whatever including speculation on real estate and equity shares.
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Eligibility
You are eligible if you are: A. An individual who is; a. An Employee or b. A Professional, self-employed or an income tax assessee or c. Engaged in agricultural and allied activities. B. Your Net Monthly Income (salaried) is in excess of Rs.12, 000/- or Net Annual Income (others) is in excess of Rs.1, 50,000/-. The income of the spouse may be added if he/she is a co-borrower Or a guarantor. C. Maximum age limit: 60 years.
Margin
We will finance up to 60% of the market value of your property.
Interest
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Term Loan 1.00% above SBAR. i.e.13.25% p.a. floating for loans up to Rs.1.00 crore. In other cases 1.25% above SBAR i.e.13.50% p.a. floating (w.e.f. 01.01.2009)
Repayment
Maximum of 60 equated monthly installments, up to 120 months for salaried individuals with check-off facility. You could opt to divert any surplus funds towards prepayment of the loan without attracting any penalty.
Security
As per banks extant instructions.
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Statement of problem
SBI Branch, Malad(W), Mumbai want to know about the customer perception about the advance product provide by them to the people. To find out what kind of service provide by the competitors in advance product. To find out the need of the customer and hence formulate the strategy to level the economy in the society. How the products are helping the customer. To know the utility of the product. To find out the need of the customer in Malad(W), region and introduce new product or facilitate new service in existing product.
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Research objectives
Summer Internship Project gives a practical exposure and helps in acquiring the on road skills. First and foremost objective is to find out the reasons for using of loan Product from SBI. To find out the services that other bank given to their customer. To generate the leads through the survey. To sort out the prospective leads from the data I have collected through the survey. To build the relation ship with the customers and to follow up them, make sure that they are satisfied with the product. To maintain good relationship with the corporate employees. To get more references from the customers and generate new leads by following a chain process. To place SBI loan Product ahead of the competitors. To find out the customer awareness on booming loan Product market and to find out the using patterns of the people To make the customer aware of the benefits of the product and convince him to go for SBI loan Product.
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The geographical scope of the study is restricted to Malad(W),only with sample size of 80 people. All the analysis and suggestions are based on the analysis of the both primary and secondary data. There fore the scope of the study revolves around the following aspects: Consumer perception towards loan Product Consumer awareness about loan Product scheme and its benefit. Aware the Bank about the customer problems, especially in case of automobile sector.
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Research methodology
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Research methodology
Research methodology is a methodology for collecting all sorts of information & data pertaining to the subject in question. The objective is to examine all the issues involved & conduct situational analysis. The methodology includes the overall research design, sampling procedure & fieldwork done & finally the analysis procedure. The methodology used in the study consistent of sample survey using both primary & secondary data. The primary data has been collected with the help of questionnaire as well as personal observation book, magazine; journals have been referred for secondary data. The questionnaire has been drafted & presented by the researcher himself.
Sample Size:
Sample of 80 people was taken into study, and their data was collected
Sampling Technique:
To study the Project, a Simple Random Sampling technique is used.
Data Collection:
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Collection of data is done by secondary Data & through Questionnaire i.e., Primary data was collected through Questionnaire.
Data Analysis:
After data collection, Im able to analyze customers views, ideas and opinions related to loan Product and about SBI loan Product and from this, SBI will come to know the customer requirements.
Data Interpretation:
Interpretation of data is done by using statistical tools like Pie diagrams, Bar graphs, and also using quantitative techniques (by using these techniques) accurate information is obtained.
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Analysis of data
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RESPONSES OF PEOPLE IN %
5% 2%
33% 60%
It has been observed that approximately 60% correspondents are using the service of SBI for their daily transaction, around 33% of people are using ICICI Bank for their transaction and only 5% & 2% of people
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are using HDFC & other Bank service respectively in Malad. It also shows that SBI have the highest market position in Malad as per my sample.
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From the above data it is clear that most of the customers (around 85%) of Malad have the idea about the product & services of SBI, the rest 15% have the idea about the product they are using. In this 15% most of the people are from typical rural area (Farmers).
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It is clear that most of the people have the idea about the Loan product of SBI. Almost all the 95% people who have the idea about the Loan product are the user of SBI product & service.
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According to my sample size 85% of people prefer SBI for loan product, but some people prefer ICICI, HDFC or OTHER Bank for loan because they are working with that bank & it is easier for them to get loan from their bank & it easier for them to pay the interest because it is less as compare to other bank because they are the employee of that bank.
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Q5. If you prefer SBI for taking loan than what influence you to take Loan from SBI?
Most of the people said that they prefer SBI for taking loan because of the transparency and the lowest interest rate for any kind of loan product. And it is easy to get loan from SBI as compare to other bank because less paper work is require and as it is the largest govt. bank in India and having partnership with RBI (Reserve Bank of India) and other association, it is easier for SBI to give loan to people with a longer repayment period.
HOME LOAN EDUCATIONAL LOAN CAR LOAN PERSONAL LOAN OTHER TOTAL NO. OF PEOPLE
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From the sample size 85% of people are using the SBI loan product. From the 1800 people 47% of people took home loan from SBI. 20% of people took education loan for their children, 15% of people took car loan from SBI. Some of the customer took 2 type of loan from SBI like both car & educational loan and home & car loan. 10% of people took personal loan.
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Loan product?
From this it is clear that the service provide by SBI in its Loan product is good in between the customer. All of them satisfy with the product provide by SBI. 55% of people said that the service provide by SBI is good & 43% said it is excellent & just 2% of people said that it is satisfactory.
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Most of the people like the attractive interest rate & longer repayment period. Its easier for people to repay the whole loan amount with its interest with low interest rate and with longer repayment period.
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PROJECT FINDINGS
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From this project it is found that SBI advance product having the
1st place in the market at Malad(W), Mumbai, there is a great opportunity to compete with ICICI Bank & to retain its customer by fulfilling the requirement of customer in SBI Loan product. It has been observed that approximately 85% correspondents are using Loan product of SBI and 15% are not using any type of Loan product of SBI in Malad(W), All of SBI customers are satisfied with the services provided by the bank. Many of these customers satisfied with the low interest rate and longer repayment period of the Loan product. Most of the customers at Malad(W), prefer to take loan from SBI. Approximately 43% of Loan product users said that the service of SBI in Loan product is excellent. A response from customer care is so clear & good. Many customers have no time to call customer care so that they are not able to know about the service & features of SBI Loan product. Most customers are shifted from other banks Loan product to SBI because of hidden charges, high interest rate, less repayment period. Government employees are more concern than private employees for Loan product.
LESS PAPER WORK ATTRACTIVE INTEREST RATES TRANSPARENCY SIMPLE & FAST PROCESSING LONGER REPAYMENT PERIOD QUICK PROCESSING
Recommendation:
Customer awareness Programme is required so that more people should attract towards Loan product. If there are any kind of hidden charges than that must disclose to customer before giving loan to them. SBI must take some steps so that customers can get their loan in time. Like phone verification by customer care that one customer is got their loan on time or not .It must be before a certain date so necessary steps can be taken. SBI should more concern about physical verification rather than phone verification so it will avoid fraud or cheating. Loan product selling agents must not give any type of wrong information regarding Loan product. For the better service new offers would be require. SBI customer care should more concern about the fastest settlement of customer problems. Before deducting or charging any monetary charge SBI must consult with customer. Agents should be trained, well educated & proper trained to convince the people about different advance product. It is the duty of the bank to disclose all the material facts regarding Loan product, like interest charged, repayment period, other types of charges, etc. Special scheme should be implemented to encourage both customer and agents.
The bank should increase the period for repayment of loan.
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SBI must focus on Segmentation based on customer knowledge Product offering based on customer demand.
SBI must take feedbacks of customers regarding features &
services.
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Conclusion
From the analysis part it can be conclude that customers have a good respond towards SBI Loan products in Malad(W), SBI are in 1st position having large number of customers & providing good services to them. The bank has a wide customer base, so the bank should concentrate on this to retain these customers. In present scenario SBI is the largest Loan product issuer in India. Within a very short period of time the achievement made by SBI is excellent, what a normal bank cannot expect, but it is being done by SBI. It happens due to employee dedication towards the organization, fastest growing Indian economy, & brand image. To be the largest Loan product issuer, SBI should focus on Launch Innovative product
Better customer services Fastest customers problem solving techniques Customer retention Apart from all the above, SBI believe in providing good customer services to their customers which is a key factor for success in future.
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Questionnaire
Name - _____________________________________ Occupation-__________________________________ Contact Detail -_______________________________
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Q. If you prefer SBI for taking loan than what influence you to take Loan from SBI?
_____________________________________________________________________ _____________________________________________________________________ _____________________________________________________________________ _____________________________________________________________________ _________________.
Q. What do you feel about the services providing by SBI in loan product?
a) b) c) d) Bad Satisfactory Good Excellent
d) e) f) g)
Simple & fast processing Flexibility to choose an EMI base loan or an overdraft Longer tenure lone for ease of repayment Specially design product for self employed h) Any other feature, specify ( _____________ )
Q. Any suggestion you want to give for the betterment of SBI Loan product.
_____________________________________________________________________ _____________________________________________________________________ _____________________________________________________________________ _____________________________________________________________________ _______________________.
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Bibliography
Text Books:
Solomon, Michael R. (2002), Consumer Behavior: Buying, Having, and Being. 5th Ed. New Jersey: Prentice Hall Wilson A. (2003), Marketing Research: An Integrated Approach Naresh Ku. Malhotra, Marketing Research: An Applied Orientation, Fifth Edition
Internet:
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