Banking strategies influencing university student’s choice on banking services

The main aim of this study was to assess bank factors that influence university students on selection of their banking services among commercial bank factors, student factors and third party factors influence university students on banking selection as well as relationship between bank and student factors in selection of banking services among university students. The study used quantitative research approach. The study employed questionnaires that were received from 258 university students at MUHAS and UDSM. Both primary and secondary data were collected, analyzed and presented into descriptive values, namely, frequency, percent, mean and standard deviations while regressions were used to test hypotheses. Finding revealed that financial stability of the bank, reputation of the bank, use of marketing and promotional campaigns, existence of several convenient branches, adequate number of automated teller machines and their location, availability of electronic bank services, low service charges and interest rates charged by the bank for students accounts, free gifts and grants provided by the bank its students customers, minimum charges for opening and depositing rates and existing career development programs initiated by some of the commercial banks, loan board bank accounts, university bank accounts had influence on university students selection of commercial banking services. Lastly, it was recommended that bank management should aware that some of the bank selection determinants differ from one segment to other in the business firm market.