New financial data from Roy Morgan’s Single Source has revealed the banks home loan customers are most satisfied with.
Bendigo Bank topped the latest banking customer satisfaction ratings among home loan customers in early 2022, with a score of 91.2%, up 1.3 percentage points from its rating of 89.9% in March the previous year.
Rounding out the top five were ING (89.6%), Macquarie (86.4%), Suncorp (86.2%), and Bankwest (84.6%). Of these, the banks that saw the biggest improvements were Macquarie, up 7.8 percentage points on a year ago, and Suncorp, which was up 3.2 percentage points.
The report also found that overall home loan customer satisfaction amongst Australia’s top 12 banks during this period was 78.6%. This represented a 1% decrease from a year ago, but was still up significantly from 74.8% in February 2020 – the month before Australia went into a nationwide lockdown at the beginning of the pandemic.
“The high home loan customer satisfaction during the past two years, and the worst public health crisis in over a century, illustrates the importance of the response by banks to support borrowers who faced a sudden loss of income due to the restrictions imposed throughout the country,” said Michele Levine, Roy Morgan CEO. “The financial support provided by government, along with the ‘mortgage holidays’ provided to borrowers facing financial stress by banks and financial companies, has helped keep the Australian economy performing strongly and supported the housing market during this crucial period.”