A STUDY OF CUSTOMER

SATISFACTION TOWARDS GOLD

LOANS-A CASE OF IIFL GOLD LOAN
PRESENTED BY- ANKIT TIWARI
MBA III Sem.
FCBM (AGI)
INTRODUCTION
 Customer Satisfaction is a measure of how products
and services supplied by a company meet or surpass
customer expectation.
It is seen as a key performance indicator within
business and is part of the four perspectives of balance
scorecard.
Customer satisfaction = Delivery - Expectation
COMPANY PROFILE
IIFL is a financial services conglomerate which was
started by a group of passionate entrepreneurs in 1995.
Listed in Bombay and National Stock Exchange
 The company has a network of 2500 business
locations (branches and sub brokers) spread across
500 cities and towns.
IIFL GOLD LOAN
IIFL provides loan against gold jewellery and gold
ornaments.
 to avail an IIFL Gold Loan one needs gold over 18
carats.
The loan amount is dependent on the value of the
gold.
Interest rate varies from 8% - 24%.
OBJECTIVES
To study the customer satisfaction level towards IIFL
gold loans.
To establish a relationship between customer
satisfaction and factors affecting customer
satisfaction.
HYPOTHESIS
H0 : Satisfaction is independent of Tenure of loan,
Interest rate, Safety of security, Amount of loan,
Redemption of security and Employee behaviour.
H0 : Employee behaviour does not have any significant
impact on overall satisfaction of customers.
RESEARCH METHODOLOGY
Sources of Data

 Primary Source-
The primary data was collected by means of a survey.
Questionnaires were prepared and customers of the IIFL GOLD
LOANS at Haldwani branch were approached to fill up the
questionnaires.
The response of the customer was recorded on a grade scale of
strongly dissatisfied, dissatisfied, neutral, satisfied and strongly
satisfied for each question.
The filled up information was later analyzed by SPSS 20 to
obtain the required interpretation and the findings.
Cont.
 Secondary Source- In order to have a proper
understanding of the customer satisfaction of IIFL a
depth study was done from the various sources such as
books, a lot of data is also collected from the official
website IIFL and the articles from various search
engines like Google, yahoo search and answers.com.
RESEARCH DESIGN
The research design is exploratory till identification of
customer satisfaction parameters. Later it becomes
descriptive.
CONT.
SAMPLING PLAN:
Since it is not possible to study whole universe, it becomes
necessary to take sample from the universe to know about
its characteristics.
 Sampling Units: Customers of IIFL GOLD LOAN
(Haldwani).
 Sample Technique: Convenience Sampling.
 Research Instrument: Structured Questionnaire.
 Contact Method: Personal Interview.
Sample size-50
RESEARCH LIMITATIONS
The study is confined to a particular location and a very small
sample of respondents. Hence the findings cannot be treated as
representative of the gold loan industry.
Respondents may give biased answers for the required data.
Some of the respondents did not like to respond.
 Respondents tried to escape some statements by simply
answering “neither agree nor disagree” to most of the
statements. This was one of the common limitation faced, as it
was difficult to analyse and come at a right conclusion.
 In our study we have included 50 customers because of time
limit.
 
QUESTIONNAIRE
1 How do you rate your satisfaction level with the
tenure of the gold loan provided by IIFL?
Strongly dissatisfied 02
Dissatisfied 10
Neutral 11
Satisfied 20
Strongly Satisfied 07
2 To what extent are you satisfied with the interest
rate of IIFL sgold loans?
Strongly dissatisfied 06
Dissatisfied 20
Neutral 09
Satisfied 15
Strongly Satisfied 00
3 To what extent are you satisfied with the safety
of gold in IIFL?
 
Strongly dissatisfied 03
Dissatisfied 08
Neutral 12
Satisfied 21
Strongly Satisfied 06
4 Rate your satisfaction towards the amount of
loan provided by IIFL against your jewellery ?
 Strongly dissatisfied 02
Dissatisfied 11
Neutral 13
Satisfied 19
Strongly Satisfied 05
 5 Rank your satisfaction towards redemption of
security towards IIFL?
 Strongly dissatisfied 03
Dissatisfied 08
Neutral 12
Satisfied 23
Strongly Satisfied 04
6 Rate your satisfaction level towards employee
behaviour of IIFL.
 Strongly dissatisfied 03
Dissatisfied 05
Neutral 06
Satisfied 24
Strongly Satisfied 12
 
7 Rank your overall satisfaction level with the
company.
 Strongly dissatisfied 04
Dissatisfied 10
Neutral 08
Satisfied 24
Strongly Satisfied 04
 
RESULTS AND FINDINGS
First hypothesis is rejected as value of p =0.00.It
means tenure of loan, Interest rate,amount of loan,
redemption of security and employee behaviour has
significant impact on the customer satisfaction level.
Second hypothesis is also rejected as value of p =0.It
means employee behaviour has significant impact on
customer satisfaction level.
Relationship between different factors of customer
satisfaction and overall satisfaction
S= -0.543+0.171 TENURE +0.177 IR+0.041 SAFETY+0.231
AMOUNT+0.128 SECURITY+0.420 EB
48% of the customers are satisfied and 24% of the
customers are strongly satisfied with the employee
behaviour.
38% of the customers are satisfied with the amount of
loan provided provided by IIFL and 10% are strongly
satisfied.
SUGGESTIONS
The company should provide proper training to new
employees so that they can attract customers easily.
The company can conduct seminars and workshops so
that they can provide information to the people and give
answers to queries.
The company should increase the advertisement
regarding the gold loan on national TV.
The company should create the awareness about the gold
loan among the general public. They should visit the
jewellers. Businessman and other work places so that they
can guide them.
CONCLUSION
Most of the companies which are offering gold loan in India are still at
growth stage and hence there are ample of opportunities for all the
companies which are offering gold loan to tap customer.
 
The perception of customer is yet to be changed because still they
don’t feel comfortable in taking gold loan because of traditional
approach hence there is a need to provide education to make people
aware of gold loan.
 To achieve sustainable growth in this sector India info line finance
limited needs to endeavour with maximum efforts the company can
achieve several milestones in future while maintaining the existing
customer relationship.