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MAY 11, 2013 TO JULY 6, 2013
Internship report submitted to SBI incompletion of the requirement of Summer
Internship at State Bank of India
On the topicStudy On Car Loans to Professional, Self employedand Businessman
UNDER THE GUIDANCE OF PREPARED BY,Prof. S.P Mohapatra Deepak Kumar
Sahoo ENROLLMENT NO-12DM075
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OBJECTIVES
To study the Car Loan procedure provided by SBI.
To study the general perceptions of Professionals, Selfemployed and Businessman regarding the process of sanctionand disbursement of SBI loans and the acceptability/popularity
of car loan provided by SBI.
From the results thus obtained, to make suggestions forimproving SBIs market share and the strategies to be adopted.
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SCOPE To ensure that the project report is useful and could
become a source of reference for the bank.
To study the practical difficulties in extending carfinance to Professionals, self employed and
Businessmen.
To find out the strategies to be adopted by the Bank forbetter result.
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METHODOLOGY
The research carried out for this project is descriptive in nature. Itrequired the banks internal circular for the car loan and otherbanks car loan schemes.
Sampling Technique: To study the Project, a Simple RandomSampling technique is used.
Sample Size: Sample of 150 people was taken into study, and theirdata was collected.
Data Collection: Collection of data is done by Primary andSecondary Data.
The primary data has been collected with the help of questionnaireas well as personal observation book, magazine; journals havebeen referred for secondary data.
Data Interpretation:
Interpretation of data is done by using statistical tools like Piediagrams, Bar graphs, and also using quantitative techniques (byusing these techniques) accurate information is obtained.
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DATA ANALYSIS
For the study 150 samples were taken, out of which 100 were customers and
50 were non customers including Professionals, self employed andbusinessman.
Customers Non
Customers
30
30
40
professio
nal
selfemployed
Businessman
15
15
20
professional
selfemployed
Businessman
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FACTORS PREFERRED FOR TAKING LOAN FROM SBI
60%
8%
10%
18%
4%
Factors preferred for loan from SBI
Low interest rates
Fast service process
Minimum processing fee
Low Emi
Longer repayementperiod
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DOCUMENTATION PROCEDURE IN SBI
0
10
20
30
40
5060
70
80
90
Professional Self employed Businessman
8580
60
1520
40in %
Satisfaction of customers in documentation procedure in SBI
satisfied
not satisfied
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BANKS PREFERRED BY CUSTOMERS
0%
10%
20%
30%
40%
50%
60%
SBI Other banks Non bankingfinance companies
56%
24%20%
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REASONS FOR CHOOSING THE BANK
0%10%20%30%40%
50%60%70%80%90% 80%
60%
75%85%
70%75%
65%72%
40% 35%
50%60%
45%
70%
60%68%
SBI
HDFC
AXIS
Financecompanies
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REASONS FOR NOT PREFERRING SBI
18%
12%
25%10%
15%
15%
5%
Reasons for not preferring SBI
High interest rate
Floating interest rates
Delayed service process
High processing fee
Callous attitude ofemployees
Unsuitable documentationprocedure
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FINDINGS
From the findings it can be clearly seen that SBIs marketshare is already high but there are certain crucial pointswhere the bank needs to work on in order to attract morecustomers.
Moreover the bank needs to improve its marketing skills, and
all the bank representatives must give their bestperformance to attract more customers.
Many drawbacks of SBI can be cited from this study andneeds to be worked over to increase its market share in autoloan.
If the processing time is shortened and the bank gives way
for minimal documentation then this can prove to be of muchuse to the bank thus, increasing the number of the peopleseeking its Auto Loan.
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RECOMMENDATIONS
The nonresident businessmen are facing more
difficulties in the documentation procedure i.e. inproviding residence proof or income proof, so somenew criteria can be introduced for them so that theymay also find ease in availing car loan.
Though interest rates of the bank regarding car loan
product is comparatively less than other organizationbut still some problems are faced by the customers dueto the floating rates, so the bank needs to work on itand as much as possible try to provide a fixed rate ofinterest to the customers.
Those customers who find that the documentationprocedure dont match their profile must also beconsidered to be important and SBI should searchsome way out for them so that the bank could prevent
losing its customer to other organization.
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CONT.
Since the Rural approach of SBI is least, the bank
should try to provide proper public awareness of their
car loan scheme and their benefits in rural areas.
SBI should provide spot financing for purchasing car in
the dealers premises during festival seasons.
The bank should employ hassle-free procedures for the
sanctioning of loan to the customers.
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LIMITATIONS
The present data is confined to the Car Loan processoffered by State bank of India.
The data collected here is specific to the selectedbranches of the various banks in Bhubaneswar andCuttack as per the instructions of the organization.
The data and information collected here has been takenfrom the internal circular of the organization and fromconversations with customers.
The customer feedback collected here is specific to
selected customers of limited centers only. Ignorant, non-cooperative and reluctant attitude of
respondents was also a major constraint.
Period of study: 8 weeks
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REFERENCES
Primary data collected: Questionnaires filled in by customers.o Primary data collected: Questionnaires filled in by non customers.
o Primary data collected: Questionnaires filled in by dealers.
o Documents available from the Bank website: www.sbi.co.in.
o Information gathered from SBI officials.
o Information gathered from the bank officials through face-to-faceconversation.
o Information gathered from Utkal Hyundai officials.
o Information gathered from Sky Automobiles.
o Information gathered from Narayani motors.
o http://www.axisbank.com/personal/loans/car-loan/car-loan-features.aspx
o http://www.hdfc.com
o Information gathered from Jyoti Automobiles.
o Information gathered from Aditya motors
http://www.axisbank.com/personal/loans/car-loan/car-loan-features.aspxhttp://www.hdfc.com/http://www.hdfc.com/http://www.axisbank.com/personal/loans/car-loan/car-loan-features.aspxhttp://www.axisbank.com/personal/loans/car-loan/car-loan-features.aspxhttp://www.axisbank.com/personal/loans/car-loan/car-loan-features.aspxhttp://www.axisbank.com/personal/loans/car-loan/car-loan-features.aspxhttp://www.axisbank.com/personal/loans/car-loan/car-loan-features.aspxhttp://www.axisbank.com/personal/loans/car-loan/car-loan-features.aspxhttp://www.axisbank.com/personal/loans/car-loan/car-loan-features.aspx -
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