Australian customers are getting back at the big four lenders by giving it lower satisfaction ratings after the banks unilaterally increased their mortgage rates despite two decisions by the Reserve Bank of Australia (RBA) to keep the overnight cash rate unchanged at 4.25 per cent.

According to Roy Morgan research, satisfaction rating of the big 4 dipped to 79.3 per cent in February from 79.6 per cent in January.

The worst hit by declining satisfaction rating was ANZ which logged the biggest fall even if it had the lowest rate hike,

"It appears that the first bank to make an upward movement in their home loan rate suffers the greatest negative impact on customer satisfaction because of the widespread adverse publicity it attracts," Roy Morgan Director Norman Morris said.

ANZ posted a satisfaction rating of 77.9 per cent, down by 0.7 per cent. National Australia Bank logged a rating of 78.7 per cent, down by 0.8 per cent. Westpac registered a rating dip of 0.5 per cent to 75.8 per cent and Commonwealth's rating slumped to 77.3 per cent.

In contrast, smaller Aussie banks that did not hike its rate registered significantly higher satisfaction ratings, such as 89.8 per cent for Bendigo and Adelaide Bank.

Lenders that logged higher satisfaction ratings were: the Teachers Credit Union - 93.2 per cent, Newcastle Permanent Building Society - 93 per cent, Heritage Building Society - 91.9 per cent, Victoria Teachers Credit Union - 91.7 per cent and ING Direct 90 per cent.

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