Preference, Satisfaction and Problems of the consumers while availing vehicle loans – An Analytical study

In India, Banking sector is the backbone for the development of the nation. To increase the standard of living of the individual and for the upliftment of the society banking sector provides various loan scheme for their customer. In this aspect, the vehicle loan provided by the banking sector plays a predominant role for the development. The study is focused on the consumer who have availed the vehicle loan from public and private bank in the Coimbatore city. This study has been made with the help of structured questionnaire by collecting it from 200 respondents. The collected questionnaire were analysed with the tools of percentage analysis, chi-square, ANOVA and Kendall's Co-efficient of concordance(W).Hence this study suggests that Bank should reduce the rate of interest for the vehicle loan and Banks should extern the repayment period for the loan borrower. This study finally concluded that both Public and Private Banks play a significant role in providing vehicle loan and they become a tough competitor in the vehicle loan market to other financial institutions. Banks must satisfy the customers‟ needs like convenience, easy to approach and fast disbursal of loan.