A Study on Customer Perception towards HDFC Limited
Author(s)
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Abstract
A home loan is a long term commitment which is critical. There are lot many banks and financial institutions through which one can easily avail a home loan. Using customer view assessment and evaluation, various housing finance establishments can focus on the issues most important to the customer and understand points of service strength and weaknesses as viewed by the customer. Consequently, the housing finance sector, as a whole, can develop pertinent service-oriented performance measures and improve the quality of the service offered to society to levels consistent with customer expectation.The study aims at studying the customers’ perception on the home loans offered by HDFC Limited, the factors influencing customers in choosing a housing finance agency, reasons for pre closure of home loans and customers’ opinion about the Electronic Clearing Service of HDFC Limited.The study is based on descriptive research and follows convenience sampling with a sample size of 150. Primary data is used in the study which is collected through a structured questionnaire.On a majority, the customers agree that the people’s service, products and processes are effective. The company can improve the service of updating repayments and conveying information about RBI guidelines and interest rate changes by enabling automatic generated SMS or e-mails to be sent or through tele calling the customers within a time limit of one or two weeks. The major factors that influence customers in choosing housing finance company are competitive interest rate, flexible repayment system, progressive funding and prepayment penalty, which if focused by HDFC can attract new customers and can also retain loyal customers in the long run. Awareness about the home loan products can be created through display boards within the office and newspaper inserts.
Keywords
Housing finance, Perception, Pre closure, Choice
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