Is Lloyds Bank or State Bank of India (UK) better for your small business?
Below we look at both Lloyds 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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Lloyds Bank vs State Bank of India (UK) Trustpilot Reviews
| Lloyds Bank | State Bank of India (UK) | |
| Trustpilot Review Score (out of 5) | 1.7 | 3.7 |
| Percent 5-Star Reviews | 13% | 33% |
| Percent 1- Star Reviews | 79% | 34% |
| Total Number of Reviews | 4,311 | 3 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/sbiuk.statebank
Lloyds Bank vs State Bank of India (UK) App Reviews
| Lloyds Bank | State Bank of India (UK) | |
| iPhone Review Score (out of 5) | 4.8 | 2.4 |
| Number of iPhone Reviews | 1,900,000 | 253 |
| Android Review Score (out of 5) | 4.6 | 1.7 |
| Number of Android Reviews | 317,000 | 1,640 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/yono-sbi-uk/id1454780358
Lloyds Bank vs State Bank of India (UK) Account Fees & Charges
| Lloyds Bank | State Bank of India (UK) | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £8.50 | £80 |
| Most Expensive Monthly Account Fee | £8.50 | £120 |
| Electronic Payment Cost (in/out) | Free / 20p | Free |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | £3 / Free |
| Cheques (in/out) | 85p per cheque | £10.00 per cheque |
| CHAPS Payments Cost | £30 | £25 |
| SEPA Payments Cost | £5 | £25 |
Lloyds Bank vs State Bank of India (UK) Business Savings Rates
| Lloyds Bank | State Bank of India (UK) | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Instant Access, Notice Savings, Fixed Deposit, Limited Access |
| Lowest Savings Rate (AER) | 1.31% | 1.95% |
| Maximum Savings Rate (AER) | 4.37% | 5.00% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Lloyds Bank vs State Bank of India (UK) Account Opening Times
| Lloyds Bank | State Bank of India (UK) | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 3 to 4 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs State Bank of India (UK) Features & Account Types
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| Lloyds 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 | 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 | Limited locations in London and Midlands |
Lloyds Bank vs State Bank of India (UK) Customer Support Options
| Lloyds 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 |
Lloyds Bank vs State Bank of India (UK) Foreign Currency Accounts
| Lloyds Bank | State Bank of India (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 State Bank of India (UK)
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| Lloyds 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 | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Lloyds Bank vs State Bank of India (UK) Banking Basics
| Lloyds Bank | State Bank of India (UK) | |
| Bank Type | High Street | Foreign Bank |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 119278 | 757156 |
| Website | Lloyds Bank Website | State Bank of India (UK) Website |
Common Comparison Questions
Does Lloyds Bank or State Bank of India (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, 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 Lloyds Bank or State Bank of India (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, 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 Lloyds Bank or State Bank of India (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, 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.