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Non-major banks have outpaced the majors for home loan customer satisfaction in the six months to September, new research has revealed.
Roy Morgan Research’s Single Source survey, which measures customer satisfaction levels of the top 11 home loan banks as determined by the group, found that ME had the highest percentage of satisfied customers at 92.8 per cent.
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ING Direct was the next best with 92.7 per cent, followed by BankSA (88.7 per cent), Bendigo Bank (87.6 per cent), Suncorp Bank (86.4 per cent), St. George Bank (86.1 per cent) and Bankwest (85.2 per cent).
CBA was the best of the big four banks with 82.0 per cent, followed by Westpac (80.8 per cent), NAB (78.9 per cent) and ANZ (77.5 per cent).
Norman Morris, industry communications director at Roy Morgan Research, said that even after a sustained period of low home loan rates, the home loan customers of the big four banks remain less satisfied overall than those who do not have a home loan.
“We have seen in the past that if increases in home loan rates are given a great deal of adverse publicity, then a decline in customer satisfaction inevitably follows,” he said.
[Related: Third Party Banking Report 2015 - Non-Major Lenders]
