A Study On Customer Satisfaction Towards Gold Loan Offered By NBFCS

Abstract

This study aims to analyze customer satisfaction with gold loan services offered by Non-Banking Financial Companies (NBFCs). In recent years, gold loans have gained immense popularity as a quick and accessible source of credit, especially among middle- and lower-income groups in India. NBFCs have become key players in this segment due to their simplified procedures, minimal documentation, and fast disbursal mechanisms. The study primarily focuses on understanding customer awareness levels, satisfaction determinants, perception towards NBFCs compared to traditional banks, and the common challenges faced by borrowers.

            A structured questionnaire was used to collect data from 150 respondents. Statistical tools such as percentage analysis, chi-square tests, and ANOVA were applied to interpret the results. The findings revealed that while customers appreciated the quick service and ease of loan processing, they expressed concerns over high interest rates, lack of transparency, and inadequate information regarding loan terms and security. The study also observed significant relationships between demographic factors and satisfaction levels.

            The research concludes that although NBFCs are serving a critical financial need, there is a strong demand for improved customer education, greater transparency, and better grievance redressal mechanisms to ensure long-term customer satisfaction and trust. The study offers practical suggestions for enhancing the overall gold loan experience through more customer-centric policies.