How banking service attributes influence account opening intentions: Interest rates, terms, variations, branch locations
List of Authors
  • Arif Ahsan , Bijoy Saha

Keyword
  • Banking Service Attributes, Account Opening Intentions, Interest Rates, Customer Behaviour, Mobile Financial Technology

Abstract
  • Banks are the key heart of financial institutions. In most economies, the banking sector is regarded as the financial system's backbone, and it plays a critical role in attaining economic growth and expansion. The main objective of this study is to identify the key factors that are contributing to account opening in Bangladeshi’s Banks and how the state of customers is impacted. Primary data were collected from the customers of the bank to understand banking service attributes using a five-point Likert scale survey questionnaire. A total of 384 customers of Janata Bank Limited, Dhaka North City, Bangladesh participated in this survey. SPSS 30.0 has been used to analyze the collected data. The outcome of the analysis reveals that interest rates, terms and conditions, variations in banking products and the location of the bank branches play a vital role in influencing the intention of account opening intentions. It is suggested that the intention to open a bank account has to be improved through the improvement of flexible terms, the introduction of more variations on banking products and monitoring of the interest rate as per the regulatory bank. Moreover, focusing on mobile-based financial technology as a substitute for physical banking services could accelerate the financial performance of banks. This study would contribute to the banking industry in understanding various reasons that help to create an intention of opening a bank account which ultimately leads to stable financial conditions of banks.

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