Customers Perception on Online Loan Services in Tirupur City
K.T. Akshay Mohan,
Ph.D. Research Scholar,
Department of Commerce,
Karuppannan Mariappan College,
Muthur
Dr. C. Selvakumar,
Associate Professor (Former),
Department of Commerce,
Karuppannan Mariappan College,
Muthur
ABSTRACT
The rapid pace of financial institutions introducing online loan services has changed the way customers interact with lending platforms, offering a more convenient and faster way to access personal loans. This researching analyzes customer perceptions of online loan services in Tirupur City and attempts to identify the major service quality factors that affect overall satisfaction with the online loan services. The research also examined the influence of demographic variables such as age, level of education, and digital literacy levels on the experiences of customers with online loan applications. From a thorough review of the literature, while there have been many studies on online banking, there has been a lack of research on the online consumer finance market, and especially in developing urban communities such as Tirupur. The study will utilize a modified E-S-QUAL model to evaluate the impact of four dimensions of service quality: efficiency, system availability, fulfillment, and privacy. The findings for the study show that all four attributes of service quality positively and significantly affect customers' overall satisfaction with the online loan service. Finally, there are no significant differences in satisfaction with the online loan service when considering the demographic variables examined; therefore, age, level of education and level of digital literacy do not influence customers' perceptions of service quality. This study contributes to the growing body of knowledge on digital financial services by highlighting the specific factors that influence customer satisfaction in the context of online loan applications in Tirupur. It provides valuable insights for financial institutions seeking to improve service delivery and better cater to the needs of customers in this region.
Key Words: Perceptions, Service Quality, Customer Satisfaction, E-S-QUAL and Efficiency
