A Study on the Consumer Awareness and Perception towards Home Loans.”
Keywords:
Consumer Awareness; Consumer Perception; Home Loans; Customer Satisfaction; Housing Finance; Loan Processing.Abstract
Consumer awareness and perception are crucial in determining the success of financial institutions in delivering home loan services. The main objective of this study is to analyse consumer awareness regarding home loan products and services and to assess the various factors influencing consumer awareness, perception, satisfaction, trust, and overall preference for home loan services. A structured questionnaire was used to collect primary data from 72 respondents. The collected data were analysed using various statistical tools such as percentage analysis, frequency analysis, and graphical representation to interpret the results. The findings show that the majority of the respondents are aware of the home loan services offered by the selected housing finance company and perceive it as a reliable and customer-friendly financial institution. Most respondents expressed positive views regarding competitive interest rates, quick loan processing, flexible repayment options, transparency in loan procedures, and customer service. The study further reveals that higher awareness, efficient service delivery, timely loan processing, and staff support positively influence customer perception and satisfaction. However, some respondents expressed concerns regarding documentation requirements, loan disbursement time, and the behaviour of sales personnel during the loan application process. The study concludes that the selected housing finance company has developed a positive image among its customers by providing accessible and affordable home loan solutions. It recommends strengthening customer awareness initiatives and enhancing customer relationship management to further improve customer satisfaction and reinforce its competitive position in the housing finance sector.
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