Comparative Assessment of Long-Term Loan Service Quality in Public and Private Sector Banks in Pudukkottai, District.
DOI: https://doi.org/10.5281/zenodo.21511504
N. SUBALAKSHMI, Dr. M.MEYYAMMAI
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Keywords:
Service Quality, Public Sector Banks, Private Sector Banks, Long-Term Loans, Pudukkottai District
Abstract:
The aim of this study is to compare the long term loan service quality of public sector bank and private sector bank in Pudukkottai district, Tamilnadu. The study seeks to assess the customers' perception on the service delivery, responsiveness, reliability and satisfaction in relation to long term loan facilities. Data were collected using a mixed methods technique, with the structured questionnaires and borrower interviews conducted for both banking sectors. The results indicate that though public banks are considered as more trustworthy and accessible, they also have efficiency and customer responsiveness issues. But the private banks show greater service innovations, faster processing and personalized customer engagement, with issues of transparency and affordability still remaining. The analysis revealed some important differences in the service quality dimensions including reliability, assurance, empathy and tangibility. The research highlights a number of key areas that need to be strengthened in both industries to increase borrower satisfaction and boost financial inclusion. Suggestions involve embracing technology-based solutions, optimizing loan decision-making, and fostering clear communication, all while maintaining a balance of efficiency and trust. This comparative assessment adds to the ongoing debate about the quality of banking services and offers valuable learnings for policymakers, financial institutions, and researchers aiming to maximize the quality of service on loans in the long-term in the regional context.