State Bank of India UK and Reliance Bank both offer a range of business banking options. But which is better?
Below we compare State Bank of India UK vs Reliance Bank on 61 different metrics including business savings account rates, current account fees, Trustpilot reviews and many, many more so you can decide for yourself.
State Bank of India UK vs Reliance Bank Business Savings Accounts Comparison
| State Bank of India UK | Reliance Bank | |
| Types of Savings Accounts | Instant Access, Limited Access, 35 Day Notice, Fixed Term Deposit Accounts | NA |
| Lowest Savings Rate | 0.00% | NA |
| Maximum Savings Rate | 4.25% | NA |
| Minimum Investment Amount | £10,000 | NA |
| Website | State Bank of India UK Website | Reliance Bank 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.
State Bank of India UK vs Reliance Bank Free Business Bank Accounts
Below we look at the free business bank account options State Bank of India UK and Reliance Bank each offer.
State Bank of India UK | Reliance Bank | |
| Free Business Bank Account? | No | Yes |
| Free Business Account Term Length | NA | 6 months |
- 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
State Bank of India UK vs Reliance Bank Fees & Pricing
State Bank of India UK | Reliance Bank | |
| Cheapest Monthly Account Fee | £80 | £5 |
| Most Expensive Monthly Account Fee | £120 | £5 |
| Electronic Payments (in/out) | free | free |
| Cash Payments (in/out) | free /£1.50 | £1.50 |
| Cheques (in/out) | £10/£15 | £1.50 |
| Debit Card Payments | Yes | Yes |
| CHAPS Payments | £25 | £15 |
| SEPA Payments | £25 | £0.25 |
State Bank of India UK vs Reliance Bank Account Types
Below we look at the different types of business bank accounts and other types of business finance solutions State Bank of India UK and Reliance Bank offer.
| State Bank of India UK | Reliance Bank | |
| 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 | No |
| 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 | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Services | No | Yes |
| Free Accouting Software | Yes | No |
State Bank of India UK vs Reliance Bank Foreign Currency Accounts
In this section we look at what types of foreign currency accounts each bank offers.
| State Bank of India UK | Reliance Bank | |
| US Dollar (USD) Bank Account | Yes | Yes |
| Euro (EUR) Bank Account | Yes | Yes |
| Other Currencies Available | 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), | Australian Dollar (AUD), Canadian Dollar (CAD), New Zealand Dollar (NZD), Singapore Dollar (SGD), Swiss Franc (CHF), Japanese Yen (JPY), |
State Bank of India UK vs Reliance Bank User Reviews
| State Bank of India UK | Reliance Bank | |
| Trustpilot Score (out of 5) | 2 | 3.7 |
| Number of Trustpilot Reviews | 276 | 1718 |
| iPhone App Score | 4.7 | 4.7 |
| Number iPhone of Reviews | 787 | 419 |
| Android App Score | 4.7 | 4 |
| Number of Android App Reviews | 69 | 132 |
State Bank of India UK vs Reliance Bank Banking Service Quality
Data for this section comes from the BVA BDRC Business banking service quality report.
| State Bank of India UK | Reliance Bank | |
| Overall Service Quality Ranking | Not Rated | Not Rated |
| Overall Service Quality Score | Not Rated | Not Rated |
| Online And Mobile Banking Services Ranking | Not Rated | Not Rated |
| Online And Mobile Banking Services Score | Not Rated | Not Rated |
| SME overdraft and loan services Ranking | Not Rated | Not Rated |
| SME overdraft and loan services Score | Not Rated | Not Rated |
| Relationship/account management Ranking | Not Rated | Not Rated |
| Relationship/account management Score | Not Rated | Not Rated |
| Service in branches and business centres Ranking | Not Rated | Not Rated |
| Service in branches and business centres Score | Not Rated | Not Rated |
State Bank of India UK vs Reliance Bank Overview
Here is some other key data about each bank.
| State Bank of India UK | Reliance Bank | |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| Market Share | No Data | No Data |
| Bank Type | Foreign Bank | Challenger |
| Total Assets | £0.0092 billion GBP | Unknown |
| Swift/BIC Code | SBIKGB2L | RELAGB22XXX |
| FCA Number | 757156 | 204537 |
| Company Number | FC004469 | 68835 |
| Business Customer Phone Number | 0800 532 532 | 020 7398 5400 |
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