CERTIFICATE

This is to certify that the project report entitled Customer perception Towards
Reverse Mortgage submitted by Ms. Navjot Saini is a bonafide piece of work
conducted under my supervision and guidance. No part of this work has been
submitted for any other degree of any other university. The data sources have been
duly acknowledged. It may be considered for evaluation in partial fulfillment of the
requirement for the award of degree of Master of Business Administration.

Date:

Mr. Kanwal Gurleen

Assistant Professorr
Apeejay Institute of Management
Jalandhar

PREFACE
The final project is an integral part of the course curriculum of The Masters of
Business Administration (MBA).It is the one of those very courses that offer an
opportunity to the students to get a feel of the jobs that they would be doing once the
pass out from their institutes. Besides, the students gain practical experience and are
exposed to the corporal world.
The first experience of this practical kind is provided by the summer training ,which
students are required to undergo in an organization but in the final project ,the
students is in position to analyze the internal working of the company with more
matured eyes and can understand the dynamics in a much better manner.
People above 60 years of age cannot work. They are dependent this is a social
problem, banking sector has to come up with a new scheme so need of the study was
to know about new scheme reverse mortgage. These services are new in India so not
much study had conducted. Various banks are providing reverse mortgage services so
the subject of this project was to study the Customer Perception towards Reverse
mortgage and to analyze the awareness level of the people regarding reverse
mortgage.

ACKNOWLEDGEMENT

The accomplishment of this project was not being possible individually without the
encouragement, assistance and valuable support from various sources. Thus our whole
hearted thanks to Almighty. Knowledge and Co-operation are essential for success
in any project field.
No creative work can be done in isolation. We got guidance, motivation at every step
of our progress. We would like to add a few heartfelt words for the people who were
the part of this project in numerous ways.
Our heartfelt gratitude to Dr. Rajesh bagga, Director, Apeejay Institute of
Management Technical Campus, Jalandhar who has given us the opportunity to
emerge as professionals in the field of management.
We owe a great debt of gratitude to Mr. Kanwal Gurleen , Assistant Professor in
Management, our project guide for his support. She guided us to bring the project to
its completion.
In the end we would like to thank our parents who helped us directly or indirectly in
the completion of this project and the respondents who gave their time to fill the
questionnaires to complete the study.

DATE

NAVJOT SAINI

TABLE OF CONTENTS
Certificate

Preface

ii

Acknowledgement

iii

CHAPTER NO.

CHAPTER TITLE

PAGE NO.

Introduction

1-20

Review of Literature

21-26

Need, Scope and Objectives of the Study

27-28

Research Methodology

29-32

Data Analysis and Interpretation

33-48

Findings of the Study

49-51

Conclusion and Recommendations

52-54

References

55-56

Annexure

57-60

LIST OF TABLES
TABLE NO.
1.1

TABLE TITLE

PAGE NO.
3

Loan Eligibility

5.1

Demographic Profile of Customers

34

5.2

Customer Availing Banking Services

35

5.3(a)

Customer Preference for Public Sector Bank

36

5.3(b)

Customer Preference for Private Sector Bank

37

5.4

With Whom Customer Living

38

5.5
5.6

Awareness about Reverse Mortgage

Main Source of Information

39
40

5.7

Other Source of Income

41

5.8

Financial Need Changed With Age

42

5.9

Reverse Mortgage Loans are Better Loans Than the

43

5.10

Traditional Loan
Factors Influences

then

44

5.11

Traditional Loans
Element Most Considered by Customer Before Taking

45

5.12

Loan
Reasons People Not Going for Reverse Mortgage Loans

46

5.13

Formalities Required After Taking the Loan

47

5.14

Satisfaction Level of Customer with Reverse Mortgage

48

Reverse

Mortgage

Loans

Services
5.15

Future of the Reverse Mortgage in India

49

LIST OF FIGURES
FIGURE NO.
5.1

FIGURE TITLE
Customer Availing Banking Services

PAGE NO.
35

5.2(a)

Customer Preference for Public Sector Bank

36

5.2(b)

Customer Preference for Private Sector Bank

37

5.3

With Whom Customer Living

38

5.4

Awareness about Reverse Mortgage

39

5.5

Main Source of Information

40

5.6

Other Source of Income

41

5.7

Financial Need Changed With Age

42

5.8

Reverse Mortgage Loans are Better Loans Than the

43

5.9

Traditional Loan
Factors Influences Reverse Mortgage Loans then

44

5.10

Traditional Loans
Element Most Considered by Customer Before Taking

45

5.11

Loan
Formalities Required After Taking the Loan

46

5.12

Satisfaction Level of Customer with Reverse Mortgage

47

5.13

Services
Future of the Reverse Mortgage in India

48