CHAPTER-III
DATA ANALYSIS AND INTERPRETATION
1. Are you aware of education loan schemes offered by State Bank of India and ICICI Bank?
Awareness of Education Loan Schemes (N=30)
Awareness Coun Percentage (%)
t
Yes 20 66.7%
No 10 33.3%
Interpretation
The data indicates that a significant majority of respondents (66.7%) are aware of the education
loan schemes offered by State Bank of India (SBI) and ICICI Bank. This suggests a high level of
financial literacy regarding student funding among the surveyed demographic. However, the
remaining 33.3% who lack awareness represent a notable gap, highlighting a potential
opportunity for banks to increase their outreach and simplify information regarding educational
financing to capture a broader customer base.
[Link] which bank did you apply for or receive your education loan?
Distribution of Education Loan Providers (N=30)
Bank provider Count Percentage(%)
State Bank of India (SBI) 14 46.7%
ICICI Bank 10 33.3%
Other bank 6 20.0%
Interpretation
The findings show that 46.7% of respondents chose State Bank of India for their education loans,
indicating that SBI's reputation as a government-backed institution and its potentially lower interest rates
remain a strong draw for students. 33.3% opted for ICICI Bank, highlighting its competitive private-
sector presence and efficient digital processing. Meanwhile, 20.0% utilized other banking institutions,
suggesting a diverse marketplace where factors like existing relationships or specific loan terms influence
customer choice.
3. What was your main reason for choosing that bank?
Main Reason for Choosing the Bank (N=30)
Reason Coun Percentage (%)
t
Low interest rate 12 40.0%
Fast processing 6 20.0%
Easy documentation 5 16.7%
Bank reputation 4 13.3%
Recommendation from others 3 10.0%
Count
Recommendation from
others
10%
Bank reputation
13% Low
inter-
est
rate
40%
Fast processing
20%
Easy documentation
17%
Interpretation
The primary reason for selecting a bank for an education loan is the low interest rate, cited by 40.0% of
respondents, as it directly impacts the overall cost of borrowing. Fast processing and easy documentation
also play significant roles, accounting for a combined 36.7% of the decision-making process,
highlighting the need for efficiency and convenience in the loan application journey. While bank
reputation and recommendations remain important factors, the financial aspect of the loan remains the
most critical driver for students and their families.
[Link] would you rate your awareness about education loan schemes before applying?
Awareness Level Before Applying (N=30)
Awareness Level Coun Percentage (%)
t
Highly aware 6 20.0%
Moderately aware 12 40.0%
Slightly aware 8 26.7%
Not aware 4 13.3%
Count
14
12
10
8
6
4
2
0
Highly aware Moderately Slightly aware Not aware
aware
Count
Interpretation
The survey indicates that while 60.0% of respondents felt at least moderately aware of education loan
schemes before applying, a significant portion—40.0%—were only slightly aware or not aware at all.
This suggests that while basic information is reaching potential borrowers, there is a clear need for banks
like SBI and ICICI to provide more comprehensive, easy-to-access educational resources. Improving
early-stage awareness could help streamline the application process and build greater trust with students
and their families.
[Link] easy was the loan application process?
Ease of Loan Application Process (N=30)
Ease of Count Percentage (%)
Application
Easy 15 50.0%
Very easy 7 23.3%
Difficult 6 20.0%
Very difficult 2 6.7%
Count
Very easy Easy Difficult Very difficult
2
7
6
15
Interpretation
A combined 73.3% of respondents found the loan application process to be easy or very easy, indicating
that banks have successfully streamlined their procedures for students. However, the 26.7% who
experienced difficulty suggest that there is still room to improve transparency and reduce complexity,
particularly for first-time borrowers. Addressing these pain points could lead to even higher customer
satisfaction and a more efficient lending experience overall.
[Link] long did it take for your loan to get approved?
Loan Approval Turnaround Time (N=30)
Approval Time Coun Percentage (%)
t
1–2 weeks 12 40.0%
2–4 weeks 9 30.0%
Less than 1 week 5 16.7%
More than 1 month 4 13.3%
Count
14
12
10
8 Count
6
0
Less than 1 1–2 weeks 2–4 weeks More than 1
week month
Interpretation
The findings reveal that 56.7% of education loans are approved within two weeks, showcasing a
relatively efficient turnaround time for major institutions like SBI and ICICI. While a further 30.0% take
up to a month, only a small portion (13.3%) experience delays beyond that timeframe. This data suggests
that while the majority of students receive timely funding, there is still potential to further optimize the
approval pipeline to ensure no student misses their admission deadlines due to administrative delays.
7. Were the eligibility criteria clearly explained by the bank?
Clarity of Eligibility Criteria (N=30)
Clarity Level Count Percentage (%)
Yes 18 60.0%
Somewhat 8 26.7%
No 4 13.3%
Count
20
18
16
14
12
Axis Title
Count
10
8
6
4
2
0
Yes No Somewhat
Interpretation
The data shows that 60.0% of respondents felt the bank clearly explained the eligibility criteria for their
education loans. However, a significant 40.0% reported that the criteria were either only “somewhat”
clear or not explained at all. This highlights a need for banks like SBI and ICICI to improve their
communication during the initial inquiry stage to ensure students fully understand the requirements before
beginning the formal application process.
8. Did the bank require collateral/security for your loan?
Requirement of Collateral/Security (N=30)
Collateral Required Coun Percentage (%)
t
No 18 60.0%
Yes 12 40.0%
Count
Yes
40%
No
60%
Yes No
Interpretation
The data shows that 60.0% of respondents did not have to provide collateral for their education loans.
This is likely due to the various government-backed guarantee schemes, such as the CGFSEL, which
often cover loans up to a certain threshold without security. However, 40.0% did require collateral, which
is standard for higher loan amounts—especially for overseas education or when borrowing from certain
private institutions like ICICI Bank. This indicates that while accessible loans exist, the requirement for
security is still a significant factor for nearly half of the students.
9. How satisfied are you with the interest rate offered by the bank?
Satisfaction with Interest Rates (N=30)
Satisfaction Count Percentage (%)
Level
Satisfied 12 40.0%
Neutral 8 26.7%
Very satisfied 6 20.0%
Dissatisfied 4 13.3%
Count
14
12
10
0
Very satisfied Satisfied Neutral Dissatisfied
Count
Interpretation
The survey shows that a combined 60.0% of respondents are satisfied or very satisfied with the interest
rates offered for their education loans. This positive sentiment suggests that both SBI and ICICI Bank are
perceived as offering competitive and fair terms for student funding. However, 26.7% remain neutral,
and 13.3% expressed dissatisfaction, which may be attributed to a desire for even lower rates or better
alignment with the financial capabilities of student borrowers.
10. Were you informed about all charges (processing fees, hidden costs, etc.)?
Transparency of Loan Charges (N=30)
Transparency Count Percentage (%)
Level
Yes clearly 16 53.3%
Partially 10 33.3%
No 4 13.3%
Count
No
13%
Yes clearly
Partially 53%
33%
Interpretation
The data reveals that 53.3% of respondents felt they were clearly informed about all loan-related
charges, including processing fees and potential hidden costs. However, a significant 46.7%
reported either partial or no transparency regarding these financial details. This indicates that
while more than half of the borrowers had a clear understanding of their financial obligations,
there is still a substantial need for banks to improve their disclosure practices to ensure all
students are fully aware of the total cost of their education loans.
11. How convenient are the repayment options provided by the bank?
Convenience of Repayment Options (N=30)
Convenience Level Count Percentage (%)
Convenient 14 46.7%
Very convenient 8 26.7%
Average 6 20.0%
Difficult 2 6.7%
Count
16
14
12
10
Count
8
0
Very con- Convenient Average Difficult
venient
Interpretation
A strong majority of respondents (73.4%) find the repayment options provided by their bank to be either
convenient or very convenient. This suggests that the structured repayment plans, including moratorium
periods and flexible EMI schedules offered by institutions like SBI and ICICI, are well-aligned with the
post-graduation financial realities of students. While 20.0% rate the convenience as average and a small
fraction (6.7%) find it difficult, the overall sentiment remains positive, indicating effective debt
management support from the banks.
12. Did the bank provide a moratorium period (repayment holiday) during your studies?
Provision of Moratorium Period (N=30)
Moratorium Provided Count Percentage (%)
Yes 21 70.0%
No 5 16.7%
Not sure 4 13.3%
Count
Not Yes
sure No Not sure
13%
13%
No
17%
17%
Yes
70%
70%
Interpretation
The data shows that 70.0% of respondents were provided with a moratorium period (repayment holiday)
during their studies. This is a critical feature for students, allowing them to focus on their education
without the immediate pressure of loan repayments. However, 16.7% did not receive a moratorium, and
13.3% were unsure, which could indicate either variations in loan terms—especially with private banks or
specific types of funding—or a lack of clear communication regarding this benefit.
13. How helpful was the bank staff during the loan process?
Bank Staff Helpfulness (N=30)
Helpfulness Count Percentage (%)
Level
Helpful 13 43.3%
Very helpful 9 30.0%
Neutral 6 20.0%
Not helpful 2 6.7%
Count
14
12
10
0
Very helpful Helpful Neutral Not helpful
Count
Interpretation
A combined 73.3% of respondents rated the bank staff as either helpful or very helpful during the
education loan process. This high level of satisfaction suggests that staff members at SBI and ICICI Bank
are providing adequate guidance and support to students navigating the complexities of financial aid.
While 20.0% remained neutral and a small 6.7% found the staff unhelpful, the overall trend reflects a
positive customer service experience, which is essential for building long-term loyalty with young
borrowers.
14. How satisfied are you overall with the education loan services provided by the bank?
Overall Satisfaction with Education Loan Services (N=30)
Satisfaction Count Percentage (%)
Level
Satisfied 14 46.7%
Very satisfied 7 23.3%
Neutral 7 23.3%
Dissatisfied 2 6.7%
16
14
12
10
8
Count
6
0
Very satisfied Satisfied Neutral Dissatisfied
Interpretation
The findings show that a combined 70.0% of respondents are satisfied or very satisfied with the overall
education loan services provided by their respective banks. This indicates that major institutions like SBI
and ICICI Bank are successfully meeting the core needs of student borrowers. However, 23.3% of
respondents remained neutral, and 6.7% expressed dissatisfaction, suggesting that while the general
experience is positive, there are still specific areas—such as processing times or hidden costs—that could
be improved to achieve even higher levels of customer satisfaction.
15. Would you recommend this bank’s education loan scheme to other students?
Willingness to Recommend Loan Scheme (N=30)
Recommendation Count Percentage (%)
Yes 19 63.3%
Maybe 8 26.7%
No 3 10.0%
Count
20
18
16
14
12 Count
10
8
6
4
2
0
Yes No Maybe
Interpretation
The findings reveal a strong level of brand advocacy, with 63.3% of respondents willing to recommend
their bank’s education loan scheme to other students. This suggests that the majority of borrowers had a
positive enough experience with SBI or ICICI Bank to endorse their services. However, 26.7% expressed
some hesitation with a “Maybe” response, and 10.0% would not recommend the scheme. This indicates
that while the current offerings are effective, there is still room for improvement in areas like interest
rates, processing efficiency, or overall transparency to turn more “Maybe” users into active promoters.