Is Shawbrook Bank or State Bank of India (UK) better for your small business?
Below we look at both Shawbrook 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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Shawbrook Bank vs State Bank of India (UK) Trustpilot Reviews
| Shawbrook Bank | State Bank of India (UK) | |
| Trustpilot Review Score (out of 5) | 4.7 | 3.7 |
| Percent 5-Star Reviews | 85% | 33% |
| Percent 1- Star Reviews | 7% | 34% |
| Total Number of Reviews | 10,747 | 3 |
https://www.trustpilot.com/review/www.shawbrook.co.uk
https://www.trustpilot.com/review/sbiuk.statebank
Shawbrook Bank vs State Bank of India (UK) App Reviews
| Shawbrook Bank | State Bank of India (UK) | |
| iPhone Review Score (out of 5) | No Rating | 2.4 |
| Number of iPhone Reviews | No Reviews | 253 |
| Android Review Score (out of 5) | No Rating | 1.7 |
| Number of Android Reviews | No Reviews | 1,640 |
https://www.apple.com/uk/app-store/
https://apps.apple.com/gb/app/yono-sbi-uk/id1454780358
Shawbrook Bank vs State Bank of India (UK) Account Fees & Charges
| Shawbrook Bank | State Bank of India (UK) | |
| Free Business Bank Account | No | No |
| Free Business Account Term Length | NA | NA |
| Cheapest Monthly Account Fee | Free | £80 |
| Most Expensive Monthly Account Fee | £12 | £120 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | Free | £3 / Free |
| Cheques (in/out) | Free | £10.00 per cheque |
| CHAPS Payments Cost | £35 | £25 |
| SEPA Payments Cost | No | £25 |
Shawbrook Bank vs State Bank of India (UK) Business Savings Rates
| Shawbrook Bank | State Bank of India (UK) | |
| Types of Business Savings Accounts | Easy Access, Fixed Rate, Notice Accounts | Instant Access, Notice Savings, Fixed Deposit, Limited Access |
| Lowest Savings Rate (AER) | 3.66% | 1.95% |
| Maximum Savings Rate (AER) | 5.03% | 5.00% |
| Minimum Savings Amount | £1,000 | £1 |
| Interest Paid On Foreign Currencies | No | Yes |
Shawbrook Bank vs State Bank of India (UK) Account Opening Times
| Shawbrook Bank | State Bank of India (UK) | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 5 Working days | 3 to 4 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | No | Yes |
Shawbrook Bank vs State Bank of India (UK) Features & Account Types
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| Shawbrook Bank | State Bank of India (UK) | |
| Business Current Account | No | 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 | None | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | No | Yes |
| In Person/Branch Banking | No | Yes |
| Branch Locations | Limited locations accross the UK | Limited locations in London and Midlands |
Shawbrook Bank vs State Bank of India (UK) Customer Support Options
| Shawbrook Bank | State Bank of India (UK) | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | No | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | No | Yes |
Shawbrook Bank vs State Bank of India (UK) Foreign Currency Accounts
| Shawbrook Bank | State Bank of India (UK) | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | No | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Shawbrook Bank and State Bank of India (UK)
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| Shawbrook 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 | No | No |
| Free Accounting Software | No | No |
Shawbrook Bank vs State Bank of India (UK) Banking Basics
| Shawbrook Bank | State Bank of India (UK) | |
| Bank Type | Challenger | Foreign Bank |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 204574 | 757156 |
| Website | Shawbrook Bank Website | State Bank of India (UK) Website |
Common Comparison Questions
Does Shawbrook Bank or State Bank of India (UK) have better customer reviews?
Shawbrook Bank scores 4.7 out of 5 based 10,747 Trustpilot reviews. Of these reviews 85% are 5-star and 7% 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 Shawbrook Bank or State Bank of India (UK) have a better App?
Shawbrook Bank’s iPhone App is rated No Rating out of 5 based on No Reviews reviews. And it’s Android App is rated No Rating out of 5 based on No Reviews 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 Shawbrook Bank or State Bank of India (UK) have better business savings rates?
Shawbrook Bank offers the following types of business savings accounts: Easy Access, Fixed Rate, Notice Accounts with interest rates ranging from 3.66% to 5.03%. (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.