Are you unhappy with your bank?

Customer satisfaction ratings for home loan borrowers has dived. Customer satisfaction scores for Australia’s big four banks has plummeted to their lowest levels since 2013 according to Roy Morgan Research.

The falling rates of customer satisfaction in our big four banks have been driven down by home loan customers who are not happy with the deal they are getting from their lender said Roy Morgan Research’s Communication Director Norman Morris. 

“The big four bank’s home-loan customers’ low satisfaction levels are having a negative impact on overall customer satisfaction scores.”

“They all have lower satisfaction rates than the smaller banks’ home-loan customers,” said Mr Morris.


Why are Aussies unhappy with their banks?

Poor service, high fees and bank branches are the major issues that customers are complaining about according to Roy Morgan Research’s latest customer satisfaction report.

The overall average customer satisfaction score for the big four Australian banks – Commonwealth Bank, National Australia Bank (NAB), Westpac and ANZ Bank is now 79.5 per cent. That is down almost two per cent in the last year.

The average big bank customer satisfaction rating is now more than 10 percentage points lower than the overall average customer satisfaction score for Australia’s mutual banks, which is currently 90.7 per cent.


Don’t be unhappy with your home loan

There is no need to feel trapped in a bad home loan deal. InfoChoice lists hundreds of home loans now available for refinancers. Look up your own home loan and compare it with the best in the market today.

Government reforms have made exit fees lower and made refinancing to a new lender easier.


Whether you are looking for a variable rate home loan (these are currently the lowest rates ever seen), or a fixed rate mortgage deal, InfoChoice is Australia’s trusted source of home loan information.


What are the lowest variable home loan rates now available in Australia?

InfoChoice’s comprehensive database of Australian home loans is now listing three home loans with introductory variable rates under 3.5 per cent. Grabbing an intro rate home loan deal can give you financial breathing space to pay off more of your loan or save money for other purposes. Right now the lowest variable home loan interest rate in Australia is 3.44 per cent for the first 12 months from Mortgage House’s Easy Start One loan deal. The lowest ongoing variable rate home loan interest rate right now is 3.74 per cent from IMB Bank’s Split Home Loan for owner occupiers.



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