Evaluating Service Quality in Housing Finance: A Comprehensive Study

This research paper explores the critical role of service quality in the housing finance sector, focusing on its impact on customer satisfaction and loyalty. Utilizing the SERVQUAL model as a foundational framework, the study evaluates five key dimensions of service quality: reliability, responsiveness, assurance, empathy, and tangibles. Through a combination of quantitative and qualitative methodologies, data were collected from a diverse group of customers to assess their expectations and perceptions of service quality.

The findings reveal significant gaps between customer expectations and actual service delivery, particularly in areas such as responsiveness and empathy. The study highlights the importance of reliability and assurance in fostering customer trust and satisfaction. Additionally, the role of technology in enhancing service quality is emphasized, with digital platforms improving responsiveness and convenience. Challenges such as delays, lack of transparency, and inadequate customer support are identified as critical areas needing improvement. This study deals with service quality gaps in banks as after nationalisation of several commercial banks competition was restricted but with the entry of new generation tech-savvy private banks the banking sector has become too competitive. For comparative purposes, five service quality dimensions are used i.e. tangibility, reliability, assurance, responsiveness and empathy. Gap analysis was applied to find the gaps between expected and performed service in private banks of NCR using SPSS version 20 to find difference between male and female perception and expectation. The study provided an insight into which attributes of service quality in private bank were most important in providing satisfaction to customers and areas where significant gaps existed. From the present study it can be concluded thar the highest gap was found in the dimension of reliability and empathy and few suggestions have been provided 1o improve on these factors.