Is Cynergy Bank or State Bank of India (UK) better for your small business?
Below we look at both Cynergy Bank and State Bank of India (UK) reviews on Trustpilot along with their App reviews from Apple and Google.
We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.
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Cynergy Bank vs State Bank of India (UK) Trustpilot Reviews
| Cynergy Bank | State Bank of India (UK) | |
| Trustpilot Review Score (out of 5) | 4 | 3.7 |
| Percent 5-Star Reviews | 58% | 33% |
| Percent 1- Star Reviews | 27% | 34% |
| Total Number of Reviews | 2,235 | 3 |
https://www.trustpilot.com/review/cynergybank.co.uk
https://www.trustpilot.com/review/sbiuk.statebank
Cynergy Bank vs State Bank of India (UK) App Reviews
| Cynergy Bank | State Bank of India (UK) | |
| iPhone Review Score (out of 5) | 1.5 | 2.4 |
| Number of iPhone Reviews | 350 | 253 |
| Android Review Score (out of 5) | 1.7 | 1.7 |
| Number of Android Reviews | 449 | 1,640 |
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
https://apps.apple.com/gb/app/yono-sbi-uk/id1454780358
Cynergy Bank vs State Bank of India (UK) Account Fees & Charges
| Cynergy Bank | State Bank of India (UK) | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £25 | £80 |
| Most Expensive Monthly Account Fee | £25 | £120 |
| Electronic Payment Cost (in/out) | 35p | Free |
| Cash Payments Cost (in/out) | 65p per £100 | £3 / Free |
| Cheques (in/out) | 30p / 78p | £10.00 per cheque |
| CHAPS Payments Cost | £25 | £25 |
| SEPA Payments Cost | £6 | £25 |
Cynergy Bank vs State Bank of India (UK) Business Savings Rates
| Cynergy Bank | State Bank of India (UK) | |
| Types of Business Savings Accounts | Business Saver | Instant Access, Notice Savings, Fixed Deposit, Limited Access |
| Lowest Savings Rate (AER) | 4.00% | 1.95% |
| Maximum Savings Rate (AER) | 4.00% | 5.00% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Cynergy Bank vs State Bank of India (UK) Account Opening Times
| Cynergy Bank | State Bank of India (UK) | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 15 minutes | 3 to 4 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Cynergy Bank vs State Bank of India (UK) Features & Account Types
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| Cynergy Bank | State Bank of India (UK) | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | No | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Visa | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | London, Redhill, Birmingham, Manchester and Glasgow | Limited locations in London and Midlands |
Cynergy Bank vs State Bank of India (UK) Customer Support Options
| Cynergy Bank | State Bank of India (UK) | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | Yes |
Cynergy Bank vs State Bank of India (UK) Foreign Currency Accounts
| Cynergy Bank | State Bank of India (UK) | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: | No |
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Other Business Services From Cynergy Bank and State Bank of India (UK)
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| Cynergy Bank | State Bank of India (UK) | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | No |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Cynergy Bank vs State Bank of India (UK) Banking Basics
| Cynergy Bank | State Bank of India (UK) | |
| Bank Type | Challenger | Foreign Bank |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 575105 | 757156 |
| Website | Cynergy Bank Website | State Bank of India (UK) Website |
Common Comparison Questions
Does Cynergy Bank or State Bank of India (UK) have better customer reviews?
Cynergy Bank scores 4 out of 5 based 2,235 Trustpilot reviews. Of these reviews 58% are 5-star and 27% are 1-star.
Whereas, State Bank of India (UK) scores 3.7 out of 5 based 3 Trustpilot reviews. Of which 33% are 5-star and 34% are 1-star.
Does Cynergy Bank or State Bank of India (UK) have a better App?
Cynergy Bank’s iPhone App is rated 1.5 out of 5 based on 350 reviews. And it’s Android App is rated 1.7 out of 5 based on 449 reviews.
In comparison, State Bank of India (UK)’s iPhone App is rated 2.4 out of 5 based on 253 reviews. And it’s Android App is rated 1.7 out of 5 based on 1,640 reviews.
Does Cynergy Bank or State Bank of India (UK) have better business savings rates?
Cynergy Bank offers the following types of business savings accounts: Business Saver with interest rates ranging from 4.00% to 4.00%. (AER)
In contrast, State Bank of India (UK) offers Instant Access, Notice Savings, Fixed Deposit, Limited Access accounts with interest rates ranging from 1.95% to 5.00% (AER).
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For other business bank accounts see our guide here.