Is Lloyds Bank or ICICI Bank UK better for your small business?
Below we look at both Lloyds Bank and ICICI Bank 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.
Lloyds Bank vs ICICI Bank UK Trustpilot Reviews
| Lloyds Bank | ICICI Bank UK | |
| Trustpilot Review Score (out of 5) | 1.7 | 2.7 |
| Percent 5-Star Reviews | 13% | 18% |
| Percent 1- Star Reviews | 79% | 74% |
| Total Number of Reviews | 4,311 | 23 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/www.icicibank.co.uk
Lloyds Bank vs ICICI Bank UK App Reviews
| Lloyds Bank | ICICI Bank UK | |
| iPhone Review Score (out of 5) | 4.8 | 2.7 |
| Number of iPhone Reviews | 1,900,000 | 237 |
| Android Review Score (out of 5) | 4.6 | 4 |
| Number of Android Reviews | 317,000 | 684 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/icici-bank-uk-imobile/id1223898732
Lloyds Bank vs ICICI Bank UK Account Fees & Charges
| Lloyds Bank | ICICI Bank UK | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £8.50 | £5 |
| Most Expensive Monthly Account Fee | £8.50 | £15 |
| Electronic Payment Cost (in/out) | Free / 20p | 25p |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | £5 per £1,000 / free |
| Cheques (in/out) | 85p per cheque | £1 |
| CHAPS Payments Cost | £30 | £20 |
| SEPA Payments Cost | £5 | No |
Lloyds Bank vs ICICI Bank UK Business Savings Rates
| Lloyds Bank | ICICI Bank UK | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Business Savings Account, Business Fixed Deposit |
| Lowest Savings Rate (AER) | 1.31% | 2.85% |
| Maximum Savings Rate (AER) | 4.37% | 4.50% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Lloyds Bank vs ICICI Bank UK Account Opening Times
| Lloyds Bank | ICICI Bank UK | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 2 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs ICICI Bank UK Features & Account Types
| Lloyds Bank | ICICI Bank 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 | Yes | 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 | UK-wide | London, Birmingham and Manchester |
Lloyds Bank vs ICICI Bank UK Customer Support Options
| Lloyds Bank | ICICI Bank 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 |
Lloyds Bank vs ICICI Bank UK Foreign Currency Accounts
| Lloyds Bank | ICICI Bank UK | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
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Other Business Services From Lloyds Bank and ICICI Bank UK
| Lloyds Bank | ICICI Bank UK | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Lloyds Bank vs ICICI Bank UK Banking Basics
| Lloyds Bank | ICICI Bank UK | |
| Bank Type | High Street | Foreign Bank |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 119278 | 223268 |
| Website | Lloyds Bank Website | ICICI Bank UK Website |
Common Comparison Questions
Does Lloyds Bank or ICICI Bank UK have better customer reviews?
Lloyds Bank scores 1.7 out of 5 based 4,311 Trustpilot reviews. Of these reviews 13% are 5-star and 79% are 1-star.
Whereas, ICICI Bank UK scores 2.7 out of 5 based 23 Trustpilot reviews. Of which 18% are 5-star and 74% are 1-star.
Does Lloyds Bank or ICICI Bank UK have a better App?
Lloyds Bank’s iPhone App is rated 4.8 out of 5 based on 1,900,000 reviews. And it’s Android App is rated 4.6 out of 5 based on 317,000 reviews.
In comparison, ICICI Bank UK’s iPhone App is rated 2.7 out of 5 based on 237 reviews. And it’s Android App is rated 4 out of 5 based on 684 reviews.
Does Lloyds Bank or ICICI Bank UK have better business savings rates?
Lloyds Bank offers the following types of business savings accounts: Fixed Term Deposit, Instant access account, Notice accounts with interest rates ranging from 1.31% to 4.37%. (AER)
In contrast, ICICI Bank UK offers Business Savings Account, Business Fixed Deposit accounts with interest rates ranging from 2.85% to 4.50% (AER).
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For other business bank accounts see our guide here.