ING Tops Lender Satisfaction as Cash Rate Hits 15-Year High

New Roy Morgan data shows ING leading on home loan satisfaction at 92.1%, even as interest rates reach their highest in almost 15 years.

When your mortgage rate is sitting at one of the highest levels in almost 15 years, the last thing you want is to feel ignored by your lender. New data from Roy Morgan suggests that Australians are increasingly noticing which banks actually look after them — and the results may surprise you.

According to the latest Roy Morgan Single Source figures for May 2026, ING has retained the top position for home loan customer satisfaction among Australian banks, scoring 92.1 per cent — up 0.9 percentage points on the same month last year. The result, reported by MPA Australia, comes despite the official cash rate sitting at 4.35 per cent in May 2026, half a percentage point above where it was in May 2025, and at its equal highest in almost 15 years.

MPA Australia reports that ING's lead over its closest rival, Suncorp Bank (which finalised its merger with ANZ in July 2024), is substantial. Suncorp came in second on 87.1 per cent — a rise of 2.3 percentage points year on year — while Bendigo Bank held third place on 84.1 per cent, up 1.6 percentage points, and Macquarie rounded out the leading non-major lenders on 79.7 per cent, up 0.4 percentage points.

The Big Four Are Catching Up — But Still Well Behind

Among the major banks, NAB posted the highest satisfaction score at 78.8 per cent and recorded the biggest improvement of any major lender over the year, rising 6.5 percentage points. CBA was close behind on 78.7 per cent, up 3.6 percentage points. ANZ lifted 6.1 percentage points to reach 75.6 per cent, while Westpac came in at 74.2 per cent, up 2.8 percentage points.

The collective average across the big four reached 77.3 per cent — an improvement of 4.7 percentage points on a year earlier. Across the broader group of the top 10 home lenders — which also included Bankwest and St George — satisfaction averaged 78.3 per cent for the six months to May 2026, up from 74.1 per cent a year ago.

Roy Morgan chief executive Michele Levine acknowledged the result: "The big four banks have performed well over the last year with the largest increases in home loan customer satisfaction led by NAB."

Still, the gap matters. The big four average of 77.3 per cent trails ING's 92.1 per cent by almost 15 percentage points. For borrowers who weigh the quality of their banking relationship alongside interest rates, the non-major lenders continue to run well ahead of the majors on this measure.

What Rising Satisfaction Says About the Rate Environment

It might seem counterintuitive that customer satisfaction scores are rising while rates are at near 15-year highs. Levine offered some context, noting that the three interest rate increases in the first half of 2026 "are starting to have an impact on home loan customer satisfaction which is slightly below the peak reached in the six months to December 2025."

In plain terms: the high-water mark of borrower goodwill was late last year, and repayments resetting at higher levels are beginning to weigh on sentiment. The full impact of an interest rate increase typically takes up to two years to flow through the economy, meaning many borrowers have not yet felt the full effect of 2026's rate cycle.

ING's head of retail, Jennifer Davies, described the bank's approach: "Our goal is to make home lending as simple and straightforward as possible. We know customers value clarity, simplicity and support, and we're focused on delivering an experience that helps people understand their options and make informed decisions."

ING, Australia's sixth-largest home lender by market share, saw its mortgage portfolio grow at 1.2 times system in May 2026, continuing a run that has averaged 1.8 times system growth over the past twelve months — a sign that satisfied customers are staying, and referring others.

Should You Think About Switching?

For borrowers sitting on an old rate with a lender that ranked poorly on satisfaction, this data is worth taking seriously. Customer satisfaction often reflects clearer communication, faster turnaround times, and more accessible support when financial pressure builds — all of which become more valuable when rates are elevated and budgets are tight.

If you're considering a move, browse the cheapest home loans to see where the market is currently sitting, and use the refinance savings calculator to model what a switch could mean for your monthly repayments. Even modest differences in interest rates, compounded over a 25 or 30-year loan term, can add up to tens of thousands of dollars.

Borrowers who haven't renegotiated in two years or more are often on a back-book rate that's higher than what new customers are being offered. Lenders rarely call existing customers to flag more competitive deals — that's not how the business model works. Speaking with a broker who can access offers from multiple lenders is typically the most efficient way to find out whether you're getting a market-competitive deal or quietly paying a loyalty premium.

You can read the full Roy Morgan analysis via MPA Australia.