FACTORS AFFECTING THE DECISION TO CHOOSE A BANK FOR LOANS OF PERSONAL CUSTOMERS IN CAO LANH CITY IN THE CONTEXT OF COVID-19 PANDEMIC

Abstract

This study is conducted to examine the factors affecting the decision to choose a bank to borrow capital of individual customers. Based on a review of previous studies, the author built a questionnaire and conducted a direct survey of 300 individual customers in Cao Lanh city. The results obtained 299 responses, of which 298 were valid and the author conducted coding, data entry and preparation for analysis. Besides, the author uses data analysis methods such as Cronbach's Alpha reliability test, exploratory factor analysis, correlation test and multiple linear regression analysis with the support of SPSS software. Research results show that there are 6 factors: Bank staff, reasonable interest rates and loan costs, brand image, convenience, reference groups, and technology factors. In particular, reasonable interest rates and loan costs are the factors that have the strongest influence on individual customers' decision to choose a bank to borrow money.