DETERMINANTS OF LOYALTY SWITCHING IN PRIVATE BANKS OPERATING INHYDERABAD: A STUDY ON THE BEHAVIOUR OF LOAN CUSTOMERS (original) (raw)

In the competitive landscape of the banking industry, customer loyalty is paramount for the sustained success of private banks. This study investigates the factors influencing loyalty switching among loan customers in private banks operating in Hyderabad, India. Understanding customer behavior is essential for banks to enhance customer satisfaction and retention strategies.The research methodology involved comprehensive surveys and in-depth interviews conducted among a diverse sample of loan customers across various private banks in Hyderabad. Findings indicate that customer service quality and digital banking experiences significantly impact customer loyalty. Additionally, interest rates and convenience play pivotal roles in customer decision-making processes. The study provides valuable insights into the preferences and expectations of loan customers in private banks, shedding light on the areas that banks should focus on to enhance customer loyalty and retention efforts. The results provide practical implications for banks to tailor their services and improve customer experiences, ultimately fostering customer loyalty. This study's outcomes are crucial for private banks in Hyderabad and can serve as a foundation for further research.