Comparative Study Of Home Loan Beneficiaries’ Satisfaction Towards Home Loan From Private And Public Sector Banks In Karnataka

Abstract

The rivalry that banks face within the modern- day is fierce. Customers have access to a broad style of banking options to settle from. So as to thrive and advance, banks are focused on meeting the necessities of their customers. In India, there’s an outsized number of housing finance institutions that provide user-friendly house loans with little to no waiting time. Because of this, the house loan system has gained quite little bit of popularity. Numerous banks in Karnataka, both public sector and private sector, provide customers with the chance to induce a loan. The aim of this research is to analyze the variables that determine the amount of satisfaction experienced by house loan borrowers in Karnataka who obtained their loans from either the public or private sector. SBI and Canara Bank, both of which are part of the public sector, and HDFC and ICICI, both of which are part of the private sector, are two of the important ones that were picked for the research. The research will be useful to lending organizations so as for them to provide better services based on the shifting requirements and behaviors of house loan borrowers, and it will also make it easier for the government to regularly revise home loan rules. According to the findings of the research, borrowers' levels of satisfaction with the services offered by both public sector banks and private sector banks are pretty good overall. This finding supports the hypothesis of the study. In keeping with the suggestions made in the article, so as  for public and private sector banks to entice a greater number of clients within the future, the interest rate should be competitive, the amount of the EMI should be reasonable, and therefore the time interval  for loans should be reduced.