Is OakNorth or ICICI Bank UK better for your small business?
Below we look at both OakNorth 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.
OakNorth vs ICICI Bank UK Trustpilot Reviews
| OakNorth | ICICI Bank UK | |
| Trustpilot Review Score (out of 5) | 4.8 | 2.7 |
| Percent 5-Star Reviews | 84% | 18% |
| Percent 1- Star Reviews | 3% | 74% |
| Total Number of Reviews | 8,904 | 23 |
https://www.trustpilot.com/review/oaknorth.co.uk
https://www.trustpilot.com/review/www.icicibank.co.uk
OakNorth vs ICICI Bank UK App Reviews
| OakNorth | ICICI Bank UK | |
| iPhone Review Score (out of 5) | 4.8 | 2.7 |
| Number of iPhone Reviews | 1,600 | 237 |
| Android Review Score (out of 5) | 4.8 | 4 |
| Number of Android Reviews | 468 | 684 |
https://apps.apple.com/gb/app/oaknorth-savings/id1476387507
https://apps.apple.com/gb/app/icici-bank-uk-imobile/id1223898732
OakNorth vs ICICI Bank UK Account Fees & Charges
| OakNorth | ICICI Bank UK | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | £25 | £5 |
| Most Expensive Monthly Account Fee | £99.99 | £15 |
| Electronic Payment Cost (in/out) | Free | 25p |
| Cash Payments Cost (in/out) | 70p per £100 | £5 per £1,000 / free |
| Cheques (in/out) | £1 per cheque | £1 |
| CHAPS Payments Cost | £17 | £20 |
| SEPA Payments Cost | No | No |
OakNorth vs ICICI Bank UK Business Savings Rates
| OakNorth | ICICI Bank UK | |
| Types of Business Savings Accounts | Fixed Term, Notice Accounts, Easy Access | Business Savings Account, Business Fixed Deposit |
| Lowest Savings Rate (AER) | 3.85% | 2.85% |
| Maximum Savings Rate (AER) | 3.85% | 4.50% |
| Minimum Savings Amount | £10,000 | £1 |
| Interest Paid On Foreign Currencies | No | Yes |
OakNorth vs ICICI Bank UK Account Opening Times
| OakNorth | ICICI Bank UK | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | Few minutes | 2 Working days |
| Do They Check Your Credit? | No | Yes |
| Current Account Switch Service | No | Yes |
OakNorth vs ICICI Bank UK Features & Account Types
| OakNorth | ICICI Bank UK | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | No | 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 | Mastercard | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | No | Yes |
| Branch Locations | None, online and phone only | London, Birmingham and Manchester |
OakNorth vs ICICI Bank UK Customer Support Options
| OakNorth | 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 | No | Yes |
OakNorth vs ICICI Bank UK Foreign Currency Accounts
| OakNorth | ICICI Bank UK | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | No | Yes |
| Other Currencies Available: | No |
|
Other Business Services From OakNorth and ICICI Bank UK
| OakNorth | 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 | No | No |
| Free Accounting Software | No | No |
OakNorth vs ICICI Bank UK Banking Basics
| OakNorth | ICICI Bank UK | |
| Bank Type | Challenger | Foreign Bank |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 629564 | 223268 |
| Website | OakNorth Website | ICICI Bank UK Website |
Common Comparison Questions
Does OakNorth or ICICI Bank UK have better customer reviews?
OakNorth scores 4.8 out of 5 based 8,904 Trustpilot reviews. Of these reviews 84% are 5-star and 3% 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 OakNorth or ICICI Bank UK have a better App?
OakNorth’s iPhone App is rated 4.8 out of 5 based on 1,600 reviews. And it’s Android App is rated 4.8 out of 5 based on 468 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 OakNorth or ICICI Bank UK have better business savings rates?
OakNorth offers the following types of business savings accounts: Fixed Term, Notice Accounts, Easy Access with interest rates ranging from 3.85% to 3.85%. (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.