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.
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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 |
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 |
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
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| 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 |
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Other Business Services From Saffron Building Society and State Bank of India (UK)
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| 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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For other business bank accounts see our guide here.