Factors Determine Depositor’s Choice in Commercial Banks of Nepal

Abstract

I order to adapt to the evolving demands and expectations of depositors, commercial banks in Nepal have implemented creative banking programs. Convenience, price, security, appeal and service quality are some of the elements that affect the choice of commercial banks. The purpose of this study was to examine the key variables influencing Nepali depositors’ selection of commercial banks. Data was gathered from 150 respondents chosen using a sample survey technique from different parts of Nepal using a descriptive study design. Data was gathered using an online survey with a standardized questionnaire, and Microsoft Excel was used to collate the answers. The primary factors impacting depositors’ choice of bank were found using percentage analysis; the results showed that depositors’ choice of commercial banks is favorably influenced by convenience, cost security, attractiveness and service quality. Among them, security and service quality stood out as crucial factors that consumers take into account while making decisions. Improving these elements can increase customer satisfaction and draw in new deposits, the key study suggests. The results offer legislators and bank management helpful information for creating customer-focused initiatives and enhancing banking service. To provide a more through picture of depositors’ banking choices in Nepal, future study may look at other factors such interest rates, loan facilitates, branch accessibility, bank reputation, digital banking services and the availability of financial information.