Lloyds Bank and Saffron Building Society both offer a range of business banking options. But which is better?
Below we compare Lloyds Bank vs Saffron Building Society on 61 different metrics including business savings account rates, current account fees, Trustpilot reviews and many, many more so you can decide for yourself.
Lloyds Bank vs Saffron Building Society Business Savings Accounts Comparison
| Lloyds Bank | Saffron Building Society | |
| Types of Savings Accounts | Instant Access, 32 or 95 day notice Accounts, 3 months to 2 years Fixed Term Accounts | Instant Access and Fixed Rate Corporate Bond |
| Lowest Savings Rate | 0.90% | 1.20% |
| Maximum Savings Rate | 3.40% | 4.70% |
| Minimum Investment Amount | £1 | £1 |
| Website | Lloyds Bank Website | Saffron Building Society Website |
- Earn 2.25%-3.51% AER.
- Interest paid daily on both work and non-work days
- Add or withdraw money with zero restrictions 24/7
- Earn 3.55% AER (variable)
- Instant access to your money when needed
- No limits or fees on withdrawals
- Earn 3.66% – 4.51% AER.
- Offers a choice of easy access or fixed-term accounts.
- Average independent review score of 4.7 out of 5.
Lloyds Bank vs Saffron Building Society Free Business Bank Accounts
Below we look at the free business bank account options Lloyds Bank and Saffron Building Society each offer.
Lloyds Bank | Saffron Building Society | |
| Free Business Bank Account? | Yes | No |
| Free Business Account Term Length | 12 months | NA |
- Free version available forever
- Hold and exchange 25+ currencies
- IBANs for Global Transfers
- Ability to invest through your account
- Mobile business account, accessible online and on desktop 24/7
- No Monthly Fee
- 24/7 Online banking & Bank app
- Friendly UK phone support
- Xero, Quickbooks & Sage accounting software integration
- FSCS Protected up to £85k
- Basic account is free forever
- Up to £150,000 of credit, straight through the app
- Business Mastercard, with free purchases at home and abroad
- Trusted by 500,000+ UK businesses
- FSCS protected up to £85,000 via Clearbank
Lloyds Bank vs Saffron Building Society Fees & Pricing
Lloyds Bank | Saffron Building Society | |
| Cheapest Monthly Account Fee | £7.00 | £10 |
| Most Expensive Monthly Account Fee | £7.00 | £10 |
| Electronic Payments (in/out) | Free | Free |
| Cash Payments (in/out) | The first £1500 per month – £1 per £100 Anything over £1500 per month – £0.90 per £100/The first £1500 per month – £1 per £100 Anything over £1500 per month – £0.90 per £100 | free |
| Cheques (in/out) | £0.85 per cheque/£0.85 per cheque | £1.50 |
| Debit Card Payments | Free | Yes |
| CHAPS Payments | £30 | £15 |
| SEPA Payments | No fee for uk outside the UK £9.50 | £0.25 |
Lloyds Bank vs Saffron Building Society Account Types
Below we look at the different types of business bank accounts and other types of business finance solutions Lloyds Bank and Saffron Building Society offer.
| Lloyds Bank | Saffron Building Society | |
| Current Account Switch Service | Yes | Yes |
| Type of Card (Mastercard vs VISA) | Mastercard | Mastercard |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| Business Overdraft | Yes | Yes |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In person/Branch Banking | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Services | Yes | Yes |
| Free Accouting Software | No | No |
Lloyds Bank vs Saffron Building Society Foreign Currency Accounts
In this section we look at what types of foreign currency accounts each bank offers.
| Lloyds Bank | Saffron Building Society | |
| US Dollar (USD) Bank Account | Yes | No |
| Euro (EUR) Bank Account | Yes | No |
| Other Currencies Available | Australian Dollar (AUD), Canadian Dollar (CAD), Swiss Franc (CHF), Japanese Yen (JPY), New Zealand Dollar (NZD), Singapore Dollar (SGD), Hong Kong Dollar (HKD), Chinese Yuan (CNY) | None |
Lloyds Bank vs Saffron Building Society User Reviews
| Lloyds Bank | Saffron Building Society | |
| Trustpilot Score (out of 5) | 1.6 | 2.4 |
| Number of Trustpilot Reviews | 3801 | 31 |
| iPhone App Score | 4.8 | 4.1 |
| Number iPhone of Reviews | 1.7M | 21 |
| Android App Score | 4.5 | 4 |
| Number of Android App Reviews | 300K | 14 |
Lloyds Bank vs Saffron Building Society Banking Service Quality
Data for this section comes from the BVA BDRC Business banking service quality report.
| Lloyds Bank | Saffron Building Society | |
| Overall Service Quality Ranking | 6 | Not Rated |
| Overall Service Quality Score | 60% | Not Rated |
| Online And Mobile Banking Services Ranking | 4 | Not Rated |
| Online And Mobile Banking Services Score | 69% | Not Rated |
| SME overdraft and loan services Ranking | 3 | Not Rated |
| SME overdraft and loan services Score | 57% | Not Rated |
| Relationship/account management Ranking | 6 | Not Rated |
| Relationship/account management Score | 56% | Not Rated |
| Service in branches and business centres Ranking | 3 | Not Rated |
| Service in branches and business centres Score | 55% | Not Rated |
Lloyds Bank vs Saffron Building Society Overview
Here is some other key data about each bank.
| Lloyds Bank | Saffron Building Society | |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| Market Share | 4.63% | 0.20% |
| Bank Type | High Street | Building Society |
| Total Assets | £433.30 billion GBP | £1.3768 billion GBP |
| Swift/BIC Code | LBGTGB22 | SFFRGB22XXX |
| FCA Number | 119278 | 100015 |
| Company Number | 2065 | IP00485B |
| Business Customer Phone Number | 0345 072 5555. | 0330 124 9057 |
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