Bank vs NBFC Preference Study (SMEs)
Small and medium enterprises evaluate, compare, and choose between banks and NBFCs across credit access, processing speed, and collateral terms, so you can sharpen acquisition targeting, fix pricing positioning, and reduce borrower churn.
CONTEXT & RELEVANCE
Why run this survey now
Most lenders don't lose SMEs purely on interest rates. They lose them due to unclear product differentiation, rigid documentation norms, trust deficits, slow turnaround cycles, and misaligned credit tenures, none of which fully show up in CRM dashboards or loan disbursal reports.
If you are...
- Bank competing against NBFC speed
- NBFC repositioning on trust and cost
- Credit or product head, SME lending
- Distribution or growth head, retail
- Strategy lead, SME portfolio expansion
You're likely facing...
- SME fit confusion: Bank vs NBFC
- Drop-offs at docs or credit stage
- Banks = safe but slow perception
- NBFCs = flexible but costly perception
- Renewal leakage and silent switching
This will help answer...
- Preference drivers beyond rate
- Funnel drop-off stage and cause
- Segment-level Bank vs NBFC split
- Fee, tenure, and pricing tolerance
- Renewal, upsell, and switch triggers
RESEARCH THEMES
What This Survey Investigates
Eight interconnected research themes that map the complete SME borrower journey from lender discovery to credit relationship renewal.
Discovery & Trust
- First lender approached, by type
- Referral source, channel, trigger
Preference Drivers
- Bank vs NBFC selection criteria
- Segment-level switching intent
Product & Servicing
- Credit product mix, SME segment
- Servicing channel, RM engagement
Journey Friction
- Drop-off points, application to disbursal
- Documentation burden, KYC delays
Pricing & WTP
- Interest rate sensitivity, fee tolerance
- Speed-vs-cost trade-off, SME tier
Usage & Stickiness
- Repeat borrowing rate, tenure patterns
- Cross-sell uptake, current account linkage
Trust & Credibility
- Lender credibility signals, SME perception
- Regulatory comfort, grievance redressal
Competitive Positioning
- Lender shortlist size, evaluation criteria
- Fintech vs incumbent preference shift
SAMPLING STRATEGY
Tell us about your ideal sample
Help us understand your target respondent profile. Select what applies, we'll design the optimal sample plan based on your inputs.
METHODOLOGY
Survey approach
For the Bank vs NBFC Preference Study (SMEs), we recommend a quant-first design with flexible data-collection modes to balance reach, depth, and verification.
EXECUTION PROCESS
How we execute
A proven 9-step process from scoping to delivery, designed to ensure quality, speed, and actionable insights.
Define the decision frame
Confirm objectives, target cohorts, geographies, and reporting cuts
Define the decision frame
Design the instrument
Build workstream modules mapped to outputs (drivers, friction, pricing, retention, trust)
Design the instrument
Lock the questionnaire
Review wording, sequencing, LOI, and competitive context; approve final version
Lock the questionnaire
Pilot and calibrate
Test comprehension and ease quality; refine quotas and remove friction where needed
Pilot and calibrate
Run fieldwork
Execute collection with active quota management and feasibility controls
Run fieldwork
Assure quality
Dedupe, attention checks, speed/consistency rules, removals with audit trail
Assure quality
Prepare the dataset
Clean data and deliver codebook/variable definitions
Prepare the dataset
Analyse and synthesise
Driver ranking, leakage diagnostics, pricing bands, segment insights
Analyse and synthesise
Deliver and align
Executive deck (optional dashboard) and leadership readout with recommendations
Deliver and align
COMMERCIAL TERMS
Request a Commercial Proposal
Pricing depends on cohort, geography, sample size, approach, LOI, and deliverables. Configure below for an indicative estimate.
Select Sample Size
Geography
Select Mode of Survey
Length of the Interview
$0.00
+ applicable taxes
Cost Breakdown
Note: Estimate is indicative only. Final pricing is subject to scope finalization after discovery call.
REFERENCE CASELETS
Reference
Real-world examples of survey work in the SME lending and credit preference space.
NBFC positioning & message territory mapping for SME credit (India)
OBJECTIVE
WHAT WE DID
DELIVERED
NBFC positioning & message territory mapping for SME credit (India)
Working capital journey friction & lender experience audit (West India)
NBFC positioning & message territory mapping for SME credit (India)
OBJECTIVE
A digital-first NBFC needed to identify which SME segments (micro-traders, manufacturing small units, service-sector firms) were most receptive to its proposition and which messaging frames drove consideration over incumbent bank relationships.
WHAT WE DID
Ran a structured quant survey across 320 SME owners in 6 cities, capturing lender consideration sets, message recall, trust triggers, and stated switching intent by segment, with quotas set across annual turnover bands and borrowing tenure.
DELIVERED
A segment-level message territory map , ranked list of trust signals by SME archetype, a competitive positioning corridor against top-3 bank challengers, and a priority segment framework for the client's direct sales channel.
FREQUENTLY ASKED QUESTIONS
Common Questions
Answers to frequently asked questions about this survey mandate.
What decisions will this survey enable?
Who is the buyer vs who are the respondents?
Can we see differences between bank-only, NBFC-only and mixed borrowers?
How will you measure lender preference beyond simple ratings?
Will the survey map the full credit journey and drop-offs?
Can this survey inform product and pricing strategy?
How will findings improve our sales and marketing messaging?
Still have questions?
Schedule a discovery call to discuss your specific needs and get a custom quote.