INTRODUCTION:-

The post office saving schemes basically started for rural area development

motive, now days the peoples are lagging to save in post office because of other saving

banks & more schemes are available in our country with high interest to pay the people,

so this study analysis about customers perception to saving in post office.

Perception means different type of people think differently in the same situation,

this study reveals about the customer’s perceptions, expectations, thoughts, behavior and

their activities towards post office saving scheme.

Post Office Saving is the best form of savings schemes which provide

substantially lesser risks of suffering losses. Therefore, wherever you go the same

schemes are available through the India, So wherever the customer’s go which makes

easy adaptability. They are widely accepted among the different sections of the Indian

society and among the different age groups.

The post office time deposits scheme fall under the category of fixed deposits and

available at all the post offices throughout India. The investors are not entitled to receive

any amount towards interests on a monthly basis but receive a lump sum amount as

interest when the scheme matures. The interest rate in case of these schemes is directly

proportional to the tenure of the scheme.

The minimum amount required to start the post office time deposits scheme is

only Rs. 200 but there is no set limit for the maximum amount. The scheme allows

nomination facility and the tenure of the scheme ranges from 1-5 years. The rate of

interest varies according to the tenure of deposit.

2

STATEMENT OF THE PROBLEM:-

Post office saving schemes is safety, and it has 8 types of schemes available in

post office. But the peoples are not willing to save in post office, the reasons are

customers facing some problems example money transfer, create new account, close the

account and change the nominee’s names. Post office had two insurance schemes.

This study helps to find the usefulness level to the customer’s.

NEED FOR THE STUDY:-

To know the customer perception in the post office saving scheme, it contains

different type of customer’s satisfaction level, their expectations and interest. What kind

of problems customers facing in post office. To know the customers age, annual income,

gender, and scheme type, this is the need to this study.

OBJECTIVES OF THE STUDY:-

To understand the perception of investors in the post office saving schemes

To study about investors expectation from the post office schemes

The problems faced by the customers of post office saving schemes

To study the satisfaction level of customers in post office scheme

To give few suggestion to increase more customers in post office schemes

3

SCOPE OF THE STUDY:-

The main purpose for this study finding the rural area development by the post

office saving schemes, The post office saving is widely known and adopted mechanism

by a large section of people in India. Its outreach has been continuously increasing both

in terms of number of accounts as well as number of branches especially in rural areas.

Its strength lies in its reputation as a government of India’s institutions and other multiple

services with standardized across India.

This study helps to find their perception, attitude, saving pattern and the

satisfaction level towards post office saving customers.

LIMITATION OF THE STUDY:-

1. Time is limiting factor

2. Respondents bias

3. Restricted to Vellore city

4. Peoples didn’t show the interest to fill the questionnaires

COMPANY PROFILE:-

4

The Indian Postal Service, with 155,333 post offices, is the most widely

distributed post office system in the world. The large numbers are a result of a long

tradition of many disparate postal systems which were unified in the Indian Union post-

Independence. Owing to this far-flung reach and its presence in remote areas, the Indian

postal service is also involved in other services such as small savings banking and

financial services.

POST OFFICE SAVINGS BANK AND RURAL CUSTOMERS:-

Post offers following eight savings schemes:

1) Saving Account Scheme:

It is a basic saving instrument to the people with multiple deposit and withdrawal

facilities.

2) Time (Term) Deposit Scheme:

These are fixed deposit schemes starting with as low as Rs. 200. The periods

available for time deposits are 1, 2, 3 and 5 years. Premature withdrawals are permissible

with penalty after completion of six months.

3) Recurring Deposit Scheme:

This is a five year scheme launched in the year 1972 with an objective to bring

women under savings net. Keeping in view the women’s strong inclination towards

saving, this scheme was designed and popularized especially in rural areas. In this

scheme a person can start saving with Rs. 10 per month, premature closure of accounts is

permissible with penalty after completion of three years.

5

4) Monthly Income Scheme:

This is a lump sum deposit scheme targeting retired persons who expect monthly

income flow. The minimum deposit is Rs. 1,000 and the maximum is Rs. 300,000 with a

lock in period of six years.

5) National Savings Certificate:

This is tax-exempt certificate with a minimum contribution of Rs. 100 and no

maximum limit. Interest is compounded six monthly and payable at maturity. Kisan

Vikas Patra:

It is a certificate, which doubles the deposit over a certain period depending on

prevalent interest rates. There is no maximum limit on investment. Premature encashment

is not permissible except in case of death of the holder.

6) Public Provident Scheme:

This is a fifteen-year scheme with a minimum deposit of Rs. 100 and a maximum

annual deposit of Rs. 70,000. Withdrawals are possible after the fifth year and a loan

facility (up to 40 %) is available after completion of one year.

7) Senior Citizens Savings Scheme:

This scheme is designed for Government employees aged above 60 years or who

is 55 years and has taken Voluntary Retirement Scheme

ANALYSIS OF SCHEME WISE NUMBER OF ACCOUNTS AND SAVINGS

Sl. No Name of No. of per cent Total per cent Average

6

savings scheme

accounts (Millions)

share Deposit (Rs. Trillions)

share savings (Rs)

1 Savings Accounts 64.34 37.32 185.64 5.28 2,885

2 Recurring Deposit 67.02 38.88 602.3 17.13 8,987

3 Time (Term) Deposit 12.43 7.21 367.12 10.44 29,535

4 Monthly Income Scheme 24.92 14.46 1,894.39 53.89 76,019

5 National Saving Certificate 0.81 0.47 48.6 1.38 60,000

6 Public Provident Scheme 2.11 1.22 194.56 5.53 92,209

7 Sr. Citizen Scheme 0.75 0.44 222.84 6.34 297,120

Total 172.38 100.00 3,515.45 100 20,394

Post Office is the oldest formal institution offering saving services to people in

India. It has an extensive network geographically covering entire country. The network of

post office branches is the main strength of POSB and has the potential to bring about

financial inclusion. The study focused on the people’s perception on Post Office savings

and savings mobilizations strategies in this context.

7

The image of post office as the oldest institution run by government is the biggest

motive for people to save in the postal savings instruments. Their trust is high in rural

areas where safety of the deposit money is more important issue than the returns on

investments. Second important learning’s from the people’s point of view are the

simplicity of the schemes / products features.

8

FIELD OF THE STUDY:-

The study was restricted to the customer’s of post office at Gudiyatham and

Vellore.

9

RESEARCH DESIGN:-

Research design `deals with a logical problem and not a logistical problem'.

Before a builder or architect can develop a work plan or order materials they must

establish the type of building required, its uses and the needs of the occupants. Similarly,

in social research the issues of sampling, method of data collection.

TYPES OF RESEARCH DESIGN:-

1. Descriptive Research methodology

2. Explanatory Research methodology

Descriptive Research Methodology:-

In this study descriptive design was adopted

Descriptive research, also known as statistical research, describes data and

characteristics about the population or phenomenon being studied. Descriptive research

answers the questions who, what, where, when and how...

SAMPLING DESIGN:-

A sample is a finite part of a statistical population whose properties are studied to

gain information about the whole. When dealing with people, it can be defined as a set of

respondents (people) selected from a larger population for the purpose of a survey.

10

TYPES OF SAMPLING DESIGN:-

1. Probability sampling design

2. Non probability sampling design

Meaning of Probability Sampling:-

A probability sampling method is any method of sampling that utilizes some

form of random selection. In order to have a random selection method, you must set up

some process or procedure that assures that the different units in your population have

equal probabilities of being chosen. Humans have long practiced various forms of

random selection, such as picking a name out of a hat, or choosing the short straw. These

days, we tend to use computers as the mechanism for generating random numbers as the

basis for random selection.

THE RANDOM SAMPLE:-

This may be the most important type of sample. A random sample allows a

known probability that each elementary unit will be chosen. For this reason, it is

sometimes referred to as a probability sample. This is the type of sampling that is used in

11

lotteries and raffles. For example, if you want to select 10 players randomly from a

population of 100, you can write their names, fold them up, mix them thoroughly then

pick ten. In this case, every name had any equal chance of being picked. Random

numbers can also be used (see Lapin page 81).

A SIMPLE RANDOM SAMPLE:-

In this study simple random sampling was adopted.

A simple random sample is obtained by choosing elementary units in search a

way that each unit in the population has an equal chance of being selected. A simple

random sample is free from sampling bias. However, using a random number table to

choose the elementary units can be cumbersome. If the sample is to be collected by a

person untrained in statistics, then instructions may be misinterpreted and selections may

be made improperly.

SOURCE OF DATA:-

Primary Source:-

Primary source is a term used in a number of disciplines to describe source material that is closest to the person, information, period, or idea being studied.

12

In the study of history as an academic discipline, a primary source (also called original source or evidence) is an artifact, a document, a recording, or other source of information that was created at the time under study.

Secondary Data :-

Secondary details data collected by someone other than the user. Common sources of secondary data for social science include censuses, surveys, organizational records and data collected through qualitative methodologies or qualitative research. Primary data, by contrast, are collected by the investigator conducting the research.

In this study both data method was adopted.

TOOL OF DATA COLLECTION:-

Purpose of Questionnaires:-

The questionnaire (also called survey) is a set of questions given to a sample of

people. The purpose is to gather information about the people’s attitudes, thoughts,

behaviors, and so forth. The researchers compile the answers of the people in the sample

in order to know how the group as a whole thinks or behaves. 

Closed Ended Questions:-

Respondents’ answers are limited to a fixed set of responses. Most scales are

closed ended. Other types of closed ended questions include:

13

Yes/no questions - The respondent answers with a “yes” or a “no”.

Multiple choices - The respondent has several options from which to choose.

Scaled questions - Responses are graded on a continuum.

Open Ended Questions:-

No options or predefined categories are suggested. The respondent supplies their

own answer without being constrained by a fixed set of possible responses. Examples of types of

open ended questions include:

ANALYSIS OF DATA:-

1. Correlation

14

2. Chi-square

3. One way ANOVA

4. T test

CORRELATION:-

A reciprocal relation between two or more things

Correlation coefficient: a statistic representing how closely two variables co-vary;

it can vary from -1 (perfect negative correlation) through 0 (no correlation) to +1

(perfect positive correlation); "what is the correlation between those two

variables?"

A statistical relation between two or more variables such that systematic changes

in the value of one variable are accompanied by systematic changes in the other.

Definition & Formula to Correlation:-

15

N∑xy-(∑x) (∑y)

R= …………………………………..

√{N∑x2-(∑x)2}{N∑y2-(∑y)2}

N = number of pairs of scores

∑xy =sum of the products of paired scores

∑x = sum of x scores

∑y =sum of squared x scores

∑x = sum of squared y scores

Correlation is a statistical measurement of the relationship between two variables.

Possible correlations range from +1 to –1. A zero correlation indicates that there is no

relationship between the variables. A correlation of –1 indicates a perfect negative

correlation, meaning that as one variable goes up, the other goes down. A correlation of

+1 indicates a perfect positive correlation, meaning that both variables move in the same

direction together.

DEFINITIONS & FORMULA OF CHI-SQUARE:-

16

In probability theory and statistics, the chi-square distribution with k degrees of

freedom is the distribution of a sum of the squares of k independent standard normal

random variables.

Pearson's chi-square test, also known as the chi-square goodness-of-fit test or chi-

square test for independence. When mentioned without any modifiers or without other

precluding context, this test is usually understood (for an exact test used in place of χ2,

see Fisher's exact test).

ONE WAY ANOVA DEFINITION & FORMULA:-

(GT)2

CF= N

17

BSS= (∑X1)2 + (∑X1)2

n1 n1

The ANOVA tests the null hypothesis that samples in two or more groups are

drawn from the same population. To do this, two estimates are made of the population

variance. These estimates rely on various assumptions (see below). The ANOVA

produces an F statistic, the ratio of the variance calculated among the means to the

variance within the samples. If the group means are drawn from the same population, the

variance between the group means should be lower than the variance of the samples,

following central limit theorem. A higher ratio therefore implies that the samples were

drawn from different populations.

ONE-SAMPLE T-TEST:

It is used to test whether a specific value is the population mean when the given

sample is small sample and the population standard deviation is known.

The formula for calculating the t-test is

18

x -µ

t= ------------------

S/√n

It has been compared the calculated valve of t with the table value of t for (n-1)

d.f for a given significance level.

If the calculated value of t < the table value of t, H0 is accepted.

If the calculated value of t >the table value of t, H0 is rejected.

19

REVIEW OF LITERATURE

SAVING PATTERNS OF CUSTOMERS:-

20

The objective of the study are to study the saving pattern of the people under

observation, to determine relationship between expectation of returns and saving, to

determine the factors influencing the reason for saving, to study the purpose of saving

along with income distribution, to study the contribution of insurance to savings and to

study the factors influencing the choice of insurance companies and products.

The determinants of saving and the impact of insurance on saving have been

studied. Various factors are involved in the saving rate with both the level and the rate of

growth of disposable income. Do the returns and the reason for saving have a significant

impact? Furthermore, the spread of saving avenues and reason for saving, and, changes in

the insurance products, have an impact on saving. Various studies have been conducted

on the saving issues. In India, the pace of financial innovation was relatively slow until

the initiation of the financial liberalization program in 1991–92. The subsequent financial

reforms have had important implications for the user costs of assets and resulted in

significant substitution among them. Hence there is a need to develop an aggregate

measure of savings that would more accurately reflect household choice over various

assets than the simple sum. As user costs of assets change so does the composition of the

inancial savings aggregate.

Saving has failed to throw conclusive evidence. Against this background, the

objective of the study was to find the determinants of savings by analyzing saving

behavior in India over a period of nineteen years i.e., from 1980-81 to 1998-99. In order

to identify and analyze the important factors, which have contributed to the fluctuation in

the saving in India simple and multiple regression models were resorted. The impact of

financial sector liberalization measures on house hold sector saving rate in India was

studied by constructing a continuous time series financial sector liberalization index6.

21

The impact of the index, along with the other determinants of household sector savings

in India were estimated using a general model. The results suggest a significant negative

impact of the index on household saving rate, which gives an indication of the increased

credit availability due to financial sector liberalization leading to increased consumption

rather than savings. Among the other determinants, absolute income is the major

significant and positive determinant of household sector saving rate in India in the period

of study.

Else where, the different measures of financial sector development for a dynamic

heterogeneous panel of 17 African countries was studied to examine the impact of

financial sector development on private savings7. An innovative econometric

methodology was also employed related to a series of co-integration tests within a panel.

This is an important contribution since traditional panel data analysis adopted in previous

studies suffers from serious heterogeneity bias problems.

The empirical results obtained vary considerably among countries in the panel,

thus highlighting the importance of using different measures of financial sector

development rather than a single indicator. The evidence is rather inconclusive, although

in most of the countries in the sample a positive relationship between financial sector

development and private savings seems to hold.

PERCEPTION OF SAVING INVESTORS:-

Jan 26, 2007 In the Inflation Report, Norges Bank publishes the interest rate path

that in the have a different perception of the interest rate path that is relating to saving

and investment patterns in the world economy The result was higher cost and price

inflation without the desired effect on Exponential Growth Bias and Household Finance

forthcoming, Journal Banks of Boston, Chicago, and Philadelphia, the Federal Reserve

Board, Many borrowing, saving, and portfolio decisions in household finance seem to fit

22

that Policymakers view accurate and unbiased perceptions of interest rates as consistent

with both a direct effect of payment/interest bias, Journal of Service Research Mar 14,

2010 Lemon study, we test the effect of price perceptions on customer satisfaction using

both an absolute would you rate XYZ's value for the money?” Patterson What is your

perception of bank's saving rates? Quality perception to cut the interest rate on its cards

because its practice of Sep 1, 1991 Federal Reserve Bank of Cleveland I.

Increasing National Saving: Are IRAs the Answer? and by the perception that

relatively have the unintended side effect of increasing household leverage. The money

into the tax deferred account.,,6 for which interest payments are no long- DINAR AND

DIRHAM EFFECT ON THE BANKING BUSINESS AND ITS SOLUTION Interest

income is derived from the loan that was given out to a bank's customer , Banks will loan

out a portion of depositor's money and charge the borrower with interest. International

Journal of Islamic Financial Service, Vol. Joe F., (2000), “Perception of Islamic Financial

System: Its Obstacles in Female Empowerment: Impact of a Commitment Savings

Product in the We also find an impact on self-perception of savings behavior.

Perception of internet banking and other banking channels and report that internet

which is based upon interest-free banking (Profit/Loss Sharing). under the supervision of

the Savings Deposit Insurance Fund (SDIF) with 8791 Electronic Banking in Finland and

the Effect on Money. Velocity. Journal of Bank of England Quarterly Bulletin 2009 Q2

will affect their spending and investment decisions today. saving rates have declined.

Households report that they expect interest rates to rise over the year money directly into

the economy in order to meet the inflation target. households' perceptions of interest rates

have moved relative Impact of the thrift bailout on bank risk smaller proportion of

23

demand deposits and savings deposits with ceiling rates were more profitable. assess the

investor's perception of bank risk. One type is an Flannery, M. R. and James, C. M.

(1984) The effect of interest rate the market for large certificates of deposit, Journal of

Money,

Positive Perception:-

The second cluster can be designated as positive perception cluster

because it has secured II rank in the perceptual factors of convenient set-up, populist

schemes, government aid, nationalistic, and saving and development and III rank in the

factors 'not necessary' and awareness. This segment of people is in agreement with the

existence of convenient set-up, populist schemes, government aid, nationalistic, and

savings and development perceptions because their mean score is more than three in

those perceptual factors.

Negative Perception:-

The mean values in the third cluster for four perceptual factors are around three

and for the other three perceptual factors less than three. The average score of all the

perceptual factors is less than three. This means that this segment of people do not have

positive perception.

SATISFACTION OF SAVING CUSTOMERS:-

Customer service and customer satisfaction are key components of a successful

corporate strategy in the best of times, and in times of economic uncertainty, the ability to

retain and leverage existing customers becomes a powerful tool for survival and success.

Study after study shows that companies with high levels of customer service and support

can take those capabilities literally to the bank in terms of higher rates of customer

retention, revenue per customer, and shareholder value.

24

This leveraging of the existing customer base can take many forms, but all have

one thing in common: the ability to inform customer contacts on all levels with

information, offers, and assistance that is tailored to the needs and interests of each

customer. While this is relatively easy for companies with few products and fewer

customers, companies in industries that measure their customers in the tens and hundreds

of thousands tend to find supporting the “mass customization” of customer-facing

interactions to be complex, expensive, and fraught with error. One reason this has been so

difficult is that some of the most common forms of customer interactions – bills,

invoices, statements, or delivery documents – are rarely optimized to leverage the

customization that would lead to improved customer satisfaction and retention.

Most billing and invoicing systems – such as the system available from SAP AG

in its flagship Business Suite product – are designed to support a relatively modest degree

of flexibility and advanced functionality in addition to creating the output. While systems

like SAP are replete with the data a company needs to support a more personalized

billing and invoicing function, many of the advanced capabilities needed to truly

optimize the data in customer service are lacking or only available through an IT-centric

set of processes.

ABSTRACT:-

Small Investors' Perception on Post Office Saving Schemes and found that there

was significant difference among the four age groups, in the level of Recurring

Deposit(R&D), National Savings Schemes (NSS), and Deposit Scheme for Retired

Employees (DSRE), and the overall score confirmed that the level of awareness among

investors in the old age group was higher than in those of the young age group. No

difference was observed between male and female investors except for the NSS and . Out

25

of the factors analyzed, necessity of life and tax benefits was the two major ones that

influence the investors both in semi-urban and urban areas. Majority (73.3 per cent) of

investors of both semi-urban and urban areas were very much willing to invest in small

savings schemes in future provided they have more for savings.

26

Table 4.1

GENDER

27

From the above

table it shows that majority

54.7% of respondents

are belonged to male, and

least 43.3% of respondents

are belonged to female.

Table 4.2

28

S.NO GENDER FREQUENCY PERCENTAGE

1 Male 41 54.7

2 Female 34 45.3

Total 75 100.0

AGE

S.NO AGE FREQUENCY PERCENTAGE

1 Below 30 41 54.7

2 30-40 13 17.3

3 40-50 13 17.3

4 Above 50 8 10.7

Total 75 100.0

From the above table it shows that majority 54.7% of respondents are belonged to age

group of below 30 years and least 10.7% of respondents are belonged to age group of above 50

years.

Table 4.3

29

QUALIFICATION LEVEL

From the

above table it

shows that

majority 29.3% of

respondents are belonged to HSS qualification level, and least 17.3% of respondents are

belonged to PG qualification level.

30

S.NO QUALIFICATION FREQUENCY PERCENTAGE

1 HSS 22 29.3

2 UG 20 26.7

3 PG 13 17.3

4 Others 20 26.7

Total 75 100.0

Chart-1

QUALIFICATION LEVEL

HSS UG PG Others0

5

10

15

20

25

30

35

No of Respondents

QUALIFICATION LEVEL

PERC

ENTA

GE

31

Table 4.4

CLASSIFICATION ON THE BASIS OF OCCUPATION

From the

above table it shows that majority 49.3% of respondents are belonged to others category it means

Labors, and least 9.3% of respondents are belonged to Govt Employees.

32

S.NO OCCUPATION FREQUENCY PERCENTAGE

1 Govt Employee 7 9.3

2 Pvt Employee 23 30.7

3 Business Man 8 10.7

4 Others 37 49.3

Total 75 100.0

Table 4.5

INCOME PER YEAR

From the

above table it shows that majority 61.3% of respondents are belonged to 25-50 Thousand of

annual income, and least 1.3% of respondents are belonged to above 2 Lakhs of annual income.

33

S.NO INCOME FREQUENCY PERCENTAGE

1 25K-50K 46 61.3

2 50k-1Lkhs 23 30.7

3 1Lkhs-2Lkhs 5 6.7

4 above 2Lkhs 1 1.3

Total 75 100.0

Table 4.6

A/C HOLDER IN POST OFFICE

S.NO YEAR FREQUENCY PERCENTAGE

1 1980-1990 8 10.7

2 1990-2000 21 28.0

3 2000-2010 46 61.3

Total 75 100.0

From the above table it shows that majority 61.3% of respondents are started their

account in the year of 2000-2010, and least 10.7% of respondents are started their account in the

year of 1980-1990.

34

Table 4.7

TYPE OF ACCOUNT HOLD

From the above table it shows that majority 66.7% of respondents are belonged to saving

account category and least 4.0% of respondents are belonged to Recurring Deposit account

category

35

S.NO TYPES OF A/C FREQUENCY PERCENTAGE

1 Fixed a/c 19 25.3

2 Saving a/c 50 66.7

3 Public provident a/c 3 4.0

4 R&D 3 4.0

Total 75 100.0

Table 4.8

RESPONDENTS SAVING PURPOSE

S.NO PURPOSE FREQUENCY PERCENTAGE

1 Future 46 61.3

2 Children's education 22 29.3

3 Retirement benefits 5 6.7

4 Others 2 2.7

Total 75 100.0

From the above table it shows that majority 61.3% of respondent’s opinions that purpose

to save the amount for their future and least 2.7% of respondent’s opinions to save the amount

for other purposes.

Table 4.9

GENDER & SAVING PURPOSE

TEST APPLIED: CHI-SQUARE

Ho: There is no association between Gender & Purpose for save.

36

H1: there is association between Gender & Purpose for save.

Level: 5%

Purpose for save

futurechildren's education

retirement benefits

others Total Chi-square

P value

Gender

MaleCount 27 11 1 2 41

4.578 0.205

Expected Count 25.1 12.0 2.7 1.1 41.0

Female

Count 19 11 4 0 34

Expected

Count

20.9 10.0 2.3 .9 34.0

Total

Count 46 22 5 2 75

Expected

Count

46.0 22.0 5.0 2.0 75.0

The P value is greater than 0.05.

So the null hypothesis is accepted at 5% significant level.

So there is no association between Gender & purpose for save

Table 4.10

37

PERCENTAGE OF SAVING

From

the

above table it shows that majority 45.3% of respondents are belonged to 5-10% save from their

income and least 4.0% of respondents are belonged to above 15% save from their income.

Table 4.11

SATISFACTION LEVEL OF RESPONDENTS

38

S.NO OPTIONS FREQUENCY PERCENTAGE

1 1-5% 31 41.3

2 5-10% 34 45.3

3 10-15% 9 12.0

4 above 15% 1 1.3

Total 75 100.0

From

the above

table it shows

that majority

92.0% of respondents are belonged to satisfied category and least 8.0% of respondents are

belonged to not satisfied category.

Table 4.12

ANNOUNCEMENT MADE BY THE POST OFFICE

39

S.NO SATISFIED FREQUENCY PERCENTAGE

1 Yes 69 92.0

2 No 6 8.0

Total 75 100.0

From

the above

table it

shows majority 68.0% of respondents are agreed that proper announcement made by the post

office to the public, and least 1.3% of respondents are strongly disagreed that proper

announcement made by the post office to the public.

Table 4.13

OCCUPATION AND ANNOUNCEMENT MADE OF POST OFFICE SAVING SCHEME

TEST APPLIED: ANOVA

Ho: There is no significant difference between occupation and announcement made of

post office saving scheme

H1: There is a significant difference between occupation and announcement made of post

office saving scheme

Level: 1%

40

S.NO ANNOUNCE IS PROPER FREQUENCY PERCENTAGE

1 Agree 51 68.0

2 Strongly Agree 11 14.7

3 Disagree 12 16.0

4 Strongly Disagree 1 1.3

Total 75 100.0

Descriptive

Occupation

N Mean

Std.

Deviation Std. Error

95% Confidence Interval for

Mean

Minimu

m

Maximu

m

Lower

Bound Upper Bound

Agree 51 3.29 .965 .135 3.02 3.57 1 4

Strongly

Agree

11 2.55 1.128 .340 1.79 3.30 1 4

Disagree 13 2.23 1.092 .303 1.57 2.89 1 4

Total 75 3.00 1.090 .126 2.75 3.25 1 4

Result: the P value is less than 0.01 so the null hypothesis is rejected at 1% level of significant.

Hence it is significant difference between occupation and announcement made of post

office saving scheme

Table 4.14

INVESTMENT ARE SAFETY THAN OTHER SAVING SECTOR

41

ANOVA

Occupation

Sum of Squares df Mean Square F P VALUE

Between Groups 14.377 2 7.188 7.030 .002

Within Groups 73.623 72 1.023

Total 88.000 74

From the above table it shows majority 50.7% of respondents are agreed that post office

saving is safety than others, and least 8.0% of respondents are disagreed that post office safety

than others.

Table 4.15

SAVING SCHEMES HELPFUL TO CUSTOMERS

42

S.NO SAFETY THAN OTHERS FREQUENCY PERCENTAGE

1 Agree 38 50.7

2 Strongly agree 31 41.3

3 Disagree 6 8.0

4 Strongly Disagree 00 00

Total 75 100.0

S.NO HELPFUL TO YOU FREQUENCY PERCENTAGE

1 Agree 41 54.7

2 Strongly Agree 21 28.0

3 Disagree 13 17.3

4 Strongly Disagree 00 00

Total 75 100.0

From the above table it shows majority 54.7% of respondents are agreed that post office

saving is helpful to them, and least 17.3% of respondents are disagreed that post office saving is

helpful to them.

Table 4.16

CORRELATION BETWEEN SAFETY THAN OTHER & HELPFUL TO THE

RESPONDENTS

Ho: There is no relationship between post office is safety than other & helpful to the

respondents

43

H1: There is a relationship between post office is safety than other & helpful to the

respondents

Level: 5%

SAFETY THAN OTHER N Pearson’s Correlation P value

HELPFUL TO YOU 75 0.112 0.341

Since correlation value is 0.112 which is of positive correlation 11.2% between post office is safety than other & helpful to the respondents.

P value is greater than 0.05 so the null hypothesis is accepted at 5% level of significant.

So there is no relationship between post office is safety than other & helpful to the respondents.

Table 4.17

POST OFFICE SAVING IS SAFETY THAN OTHER SAVING SECTOR

TEST APPLIED: ONE SAMPLE T-TEST

H0: Saving in post office is safety is equal to average level

44

H1: Saving in post office is safety is not equal to average level

T-Test

One-Sample Test

Test Value = 3

t df Sig. (2-tailed) N Mean Std. deviation

Safety than others -19.294 74 .000 75 1.57 .640

The P value is less than 0.01 therefore null hypothesis is rejects at 1% significant level.

Hence saving in post office is safeties are not equal to average level.

Table 4.18

INTRODUCER THE POST OFFICE

45

S.NO WHO INTRODUCE FREQUENCY PERCENTAGE

1 Family 28 37.3

2 Friends 14 18.7

3 Self interest 27 36.0

4 Others 6 8.0

Total 75 100.0

From the above table it shows majority 37.3% of respondents are introduced to post

office by their family members, and least 18.7% of respondents are introduced to post office by

their friends.

Chart-2

INTRODUCER THE POST OFFICE

46

Family Friends Self interest Others0

5

10

15

20

25

30

35

40

No of Respondents

INTRODUCER THE POST OFFICE

PERC

ENTA

GE

Table 4.19

47

AVAILED SENIOR CITIZEN SCHEME

From

the above

table it shows

majority89.3% of respondents are not benefited in senior citizen scheme, and least 10.7% of

respondents are benefited in senior citizen scheme.

Table 4.20

48

S.NO SENIOR SCHEME FREQUENCY PERCENTAGE

1 Yes 8 10.7

2 No 69 89.3

Total 75 100.0

PROBLEM FACED BY THE RESPONDENTS

S.NO FACE PROBLEM? FREQUENCY PERCENTAGE

1 Yes 75 100

2 No 00 00

Total 75 100.0

From the above table it shows every respondents are faced some problem in post office.

Table 4.21

KINDS OF PROBLEM FACED OF RESPONDENTS

49

From

the above

table it shows that majority 37.3% of respondents are faced problem in money transfer, and least

10.7% of respondents are faced problem in closing account.

Chart-3

KINDS OF PROBLEM FACED OF RESPONDENTS

50

S.NO PROBLEM TYPE FREQUENCY PERCENTAGE

1 Opening a/c 22 29.3

2 Money transfer 28 37.3

3 Nominees name change 17 22.7

4 Closing a/c 8 10.7

Total 75 100.0

Opening a/cMoney transfer

Nominees name change Closing a/c

0

5

10

15

20

25

30

35

40

No of Respondents 10.7

No of Respondents

Kinds of problem faced of respondents

Perc

enta

ge

Table 4.22

RESPONSE MADE BY POST OFFICE STAFFS

51

From

the above

table it shows that majority 70.7% of respondents opinion that proper response made the post

office staff, and least 29.3% of respondents opinion that not proper response made the post office

staff.

Table 4.23

SATISFACTION LEVEL OF SERVICES PROVIDING

52

S.NO PROPER RESPONSE FREQUENCY PERCENTAGE

1 Yes 53 70.7

2 No 22 29.3

Total 75 100.0

From

the above

table it shows majority 45.3% of respondents are belonged to satisfied by services providing in

post office, and least 20.0% of respondents are belonged to not satisfied.

Table 4.24

EXPECTATION OF NEW SCHEMES

53

S.NO SATISFACTION LEVEL FREQUENCY PERCENTAGE

1 Satisfied 34 45.3

2 Partly satisfied 25 33.3

3 Not satisfied 15 20.0

4 Not at all satisfied 1 1.3

Total 75 100.0

S.NO EXPECT NEW SCHEMES FREQUENCY PERCENTAGE

1 Yes 75 100

2 No 00 00

Total 75 100.0

From the above table it shows every respondent are expecting new schemes.

Table 4.25

EXPECT OF NEW SCHEME TYPE

54

S.NO SCHEME TYPE FREQUENCY PERCENT

1 More interest 33 44.0

2 More safety 16 21.3

3 Easy to handle 22 29.3

4 Others 4 5.3

Total 75 100.0

From the above table it shows the 44.0% of respondents are expecting more interest,

29.9% of respondents are expected easy to handle, and 21.3% of respondents are expected more

safety in post office.

Chart-4

EXPECT NEW SCHEME TYPE OF RESPONDENTS

55

More in-terest More safety

Easy to handle Others

0

5

10

15

20

25

30

35

40

45

No of Respondents

Expect new scheme type of respondents

Perc

enta

ge

56

FINDINGS:-

54.7% of respondents are belonged to male category

54.7% of respondents are belonged to age group of below 30

29.3% of respondents are belonged to HSS qualification level

57

61.3% of respondents are belonged to 25Thousand to 50Thousand of annual

income

66.7% of respondents are belonged to saving account category

61.3% of respondents opinions that purpose to save the amount for their future

purpose

From the chi-square it showed no association between Gender & purpose for

saving in post office

45.3% of respondents are belonged to 5-10% save from their income

92.0% of respondents are belonged to satisfied category

49.3% of respondents are belonged to others than the Govt Employee, Pvt

Employee, Pvt Employee

68.0% of respondents are agreed that proper announcement made by the post

office to the public

FROM The ANOVAs, it is significant difference between occupation and

announcement made of post office saving scheme

50.7% of respondents are agreed that post office saving is safety than others

58

54.7% of respondents are agreed that post office saving is helpful to them

The correlation there is no relationship between the post office is safety than other

investing sector & helpful to the respondents.

T test, saving in post office is safety is not equal to average level.

37.3% of respondents are faced problem in money transfer

45.3% of respondents are belonged to satisfied by services providing in post

office

44.0% of respondents are expecting more interest, 29.9% of respondents are

expected easy to handle

SUGGESTION:-

From the analysis, it found most of the customers faced problem in transaction

money, so on-line transaction has to implement.

59

Interest rate when compare to other private sectors the interest of post office is

very low, so in order to attract and retain customers the interest rate shall be

increased.

The time taken for transfer is very high, so management has to take step to

minimize the time for money transfer transaction.

From the findings only up to middle & middle group of people are interested in

post office saving scheme. In order to attract the rest of the group of people more

schemes with variety of interest rate shall be introduced.

There is no powerful advertisement media used by the post office saving sector,

so suitable advertisement media shall be adopted.

CONCLUSION:-

60

Through this study the research understood the perception of investors in the post

office saving schemes, whether the investors are satisfied or not in their saving account.

And investor’s expectation from the post office saving schemes are identified, that the

different type of customers expects different features in post office. The post office

saving customers faced problems by their saving account, this research to found the

satisfaction level of customers in post office saving schemes. If the above suggestion

implement, the post office sector can find better prospect in the future. Through this study

I gain more practical knowledge which makes betterment for my future and career.

61