Is TSB or State Bank of India (UK) better for your small business?
Below we look at both TSB 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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TSB vs State Bank of India (UK) Trustpilot Reviews
| TSB | State Bank of India (UK) | |
| Trustpilot Review Score (out of 5) | 4.2 | 3.7 |
| Percent 5-Star Reviews | 56% | 33% |
| Percent 1- Star Reviews | 27% | 34% |
| Total Number of Reviews | 21,942 | 3 |
https://www.trustpilot.com/review/tsb.co.uk
https://www.trustpilot.com/review/sbiuk.statebank
TSB vs State Bank of India (UK) App Reviews
| TSB | State Bank of India (UK) | |
| iPhone Review Score (out of 5) | 4.8 | 2.4 |
| Number of iPhone Reviews | 457,400 | 253 |
| Android Review Score (out of 5) | 4.4 | 1.7 |
| Number of Android Reviews | 197,000 | 1,640 |
https://apps.apple.com/gb/app/tsb-mobile-banking/id1160720878
https://apps.apple.com/gb/app/yono-sbi-uk/id1454780358
TSB vs State Bank of India (UK) Account Fees & Charges
| TSB | State Bank of India (UK) | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 30 Months | NA |
| Cheapest Monthly Account Fee | £5 | £80 |
| Most Expensive Monthly Account Fee | £40 | £120 |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 70p per £100 | £3 / Free |
| Cheques (in/out) | 70p | £10.00 per cheque |
| CHAPS Payments Cost | £30 | £25 |
| SEPA Payments Cost | £2 | £25 |
TSB vs State Bank of India (UK) Business Savings Rates
| TSB | State Bank of India (UK) | |
| Types of Business Savings Accounts | Instant Access, Fixed Bonds | Instant Access, Notice Savings, Fixed Deposit, Limited Access |
| Lowest Savings Rate (AER) | 1.35% | 1.95% |
| Maximum Savings Rate (AER) | 4.30% | 5.00% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
TSB vs State Bank of India (UK) Account Opening Times
| TSB | State Bank of India (UK) | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 10 Working days | 3 to 4 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
TSB vs State Bank of India (UK) Features & Account Types
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| TSB | 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 | No | 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 | UK-wide | Limited locations in London and Midlands |
TSB vs State Bank of India (UK) Customer Support Options
| TSB | 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 |
TSB vs State Bank of India (UK) Foreign Currency Accounts
| TSB | 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 TSB and State Bank of India (UK)
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| TSB | 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 | No | No |
TSB vs State Bank of India (UK) Banking Basics
| TSB | 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 | 191240 | 757156 |
| Website | TSB Website | State Bank of India (UK) Website |
Common Comparison Questions
Does TSB or State Bank of India (UK) have better customer reviews?
TSB scores 4.2 out of 5 based 21,942 Trustpilot reviews. Of these reviews 56% are 5-star and 27% 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 TSB or State Bank of India (UK) have a better App?
TSB’s iPhone App is rated 4.8 out of 5 based on 457,400 reviews. And it’s Android App is rated 4.4 out of 5 based on 197,000 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 TSB or State Bank of India (UK) have better business savings rates?
TSB offers the following types of business savings accounts: Instant Access, Fixed Bonds with interest rates ranging from 1.35% to 4.30%. (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.