Consumer Loan Market: A Study on consumer behaviour and decision-making

Abstract This study explores consumer behaviour and decision-making processes in the consumer loan market considering factors affecting it. The study examines the importance of various factors like interest rates, fees, customer services, lender reputation and so many other factors affecting consumer behaviour. The study was done with 108 samples after editing all questionnaires, especially from those who have some kind of consumer loan in their name. It is found that demographic factors influence consumer behaviour while availing of these loans. It is found that lending agents, financial advisors, reviews on loans, and media play a major role in creating demand for consumer loans in the market. The study found that the consumer's loans as a necessity in the consumer market have a strong positive relationship with consumer behaviour and their decision-making for availing these loans.