Saffron Building Society VS State Bank of India (UK): Business Banking Review & Fee Comparison

Is Saffron Building Society or State Bank of India (UK) better for your small business?

Below we look at both Saffron Building Society 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.

Saffron Building Society vs State Bank of India (UK) Trustpilot Reviews

	Saffron Building Society	State Bank of India (UK)
Trustpilot Review Score (out of 5)	2.2	3.7
Percent 5-Star Reviews	21%	33%
Percent 1- Star Reviews	73%	34%
Total Number of Reviews	58	3

Sources:
https://www.trustpilot.com/review/saffronbs.co.uk
https://www.trustpilot.com/review/sbiuk.statebank

Saffron Building Society vs State Bank of India (UK) App Reviews

	Saffron Building Society	State Bank of India (UK)
iPhone Review Score (out of 5)	3.7	2.4
Number of iPhone Reviews	24	253
Android Review Score (out of 5)	3.7	1.7
Number of Android Reviews	14	1,640

Sources:
https://apps.apple.com/gb/app/saffron-building-society/id1482290341
https://apps.apple.com/gb/app/yono-sbi-uk/id1454780358

Saffron Building Society vs State Bank of India (UK) Account Fees & Charges

	Saffron Building Society	State Bank of India (UK)
Free Business Bank Account	No	No
Free Business Account Term Length	NA	NA
Cheapest Monthly Account Fee	£10	£80
Most Expensive Monthly Account Fee	£10	£120
Electronic Payment Cost (in/out)	Free	Free
Cash Payments Cost (in/out)	Free	£3 / Free
Cheques (in/out)	£1.50	£10.00 per cheque
CHAPS Payments Cost	£15	£25
SEPA Payments Cost	25p	£25

Saffron Building Society vs State Bank of India (UK) Business Savings Rates

	Saffron Building Society	State Bank of India (UK)
Types of Business Savings Accounts	Regular Savings, Easy access, Fixed rate bonds, Notice accounts, Business/corporate accounts	Instant Access, Notice Savings, Fixed Deposit, Limited Access
Lowest Savings Rate (AER)	1.20%	1.95%
Maximum Savings Rate (AER)	5.75%	5.00%
Minimum Savings Amount	£1	£1
Interest Paid On Foreign Currencies	No	Yes

Saffron Building Society vs State Bank of India (UK) Account Opening Times

	Saffron Building Society	State Bank of India (UK)
Can You Apply Online?	Yes	Yes
How Long Does Opening An Account Typically Take?	Undisclosed	3 to 4 Working days
Do They Check Your Credit?	Yes	Yes
Current Account Switch Service	Yes	Yes

Saffron Building Society vs State Bank of India (UK) Features & Account Types

	Saffron Building Society	State Bank of India (UK)
Business Current Account	Yes	Yes
Business Savings Account	Yes	Yes
Business Credit Card	Yes	Yes
Business Overdraft	No	Yes
Accounts For Startups	No	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	Yes	Yes
Branch Locations	Locations in Essex only	Limited locations in London and Midlands

Saffron Building Society vs State Bank of India (UK) Customer Support Options

	Saffron Building Society	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

Saffron Building Society vs State Bank of India (UK) Foreign Currency Accounts

	Saffron Building Society	State Bank of India (UK)
US Dollar (USD) Bank Accounts	No	Yes
Euro (EUR) Bank Accounts	No	Yes
Other Currencies Available:	No	Indian Rupee (INR) Australian Dollar (AUD) Singapore Dollar (SGD) Hong Kong Dollar (HKD) Swiss Franc (CHF) Canadian Dollar (CAD) New Zealand Dollar (NZD) Malaysian Ringgit (MYR)

Other Business Services From Saffron Building Society and State Bank of India (UK)

	Saffron Building Society	State Bank of India (UK)
Business Loans	Yes	Yes
Commercial Mortgages	Yes	Yes
Invoice Financing	No	Yes
International Payments	Yes	Yes
Merchant Payment Services	No	No
Card Machines	No	No
Free Accounting Software	No	No

Saffron Building Society vs State Bank of India (UK) Banking Basics

	Saffron Building Society	State Bank of India (UK)
Bank Type	Building Society	Foreign Bank
FSCS Protection	Yes, up to £85,000	Yes, up to £85,000
FCA Number	100015	757156
Website	Saffron Building Society Website	State Bank of India (UK) Website

Common Comparison Questions

Does Saffron Building Society or State Bank of India (UK) have better customer reviews?

Saffron Building Society scores 2.2 out of 5 based 58 Trustpilot reviews. Of these reviews 21% are 5-star and 73% 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 Saffron Building Society or State Bank of India (UK) have a better App?

Saffron Building Society’s iPhone App is rated 3.7 out of 5 based on 24 reviews. And it’s Android App is rated 3.7 out of 5 based on 14 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 Saffron Building Society or State Bank of India (UK) have better business savings rates?

Saffron Building Society offers the following types of business savings accounts: Regular Savings, Easy access, Fixed rate bonds, Notice accounts, Business/corporate accounts with interest rates ranging from 1.20% to 5.75%. (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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Saffron Building Society vs ICICI Bank UK


For other business bank accounts see our guide here.