State Bank of India UK and Shawbrook Bank both offer a range of business banking options. But which is better?
Below we compare State Bank of India UK vs Shawbrook 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 Shawbrook Bank Business Savings Accounts Comparison
| State Bank of India UK | Shawbrook Bank | |
| Types of Savings Accounts | Instant Access, Limited Access, 35 Day Notice, Fixed Term Deposit Accounts | Instant Access, 45 or 100 Day Notice, 1-2 Year Fixed Rate Business Savings Bond |
| Lowest Savings Rate | 0.00% | 0.90% |
| Maximum Savings Rate | 4.25% | 4.90% |
| Minimum Investment Amount | £10,000 | £1,000 |
| Website | State Bank of India UK Website | Shawbrook 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 Shawbrook Bank Free Business Bank Accounts
Below we look at the free business bank account options State Bank of India UK and Shawbrook Bank each offer.
State Bank of India UK | Shawbrook Bank | |
| Free Business Bank Account? | No | No |
| Free Business Account Term Length | NA | 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
State Bank of India UK vs Shawbrook Bank Fees & Pricing
State Bank of India UK | Shawbrook Bank | |
| Cheapest Monthly Account Fee | £80 | Free |
| Most Expensive Monthly Account Fee | £120 | £12 |
| Electronic Payments (in/out) | free | Free/£0.35 per £100 |
| Cash Payments (in/out) | free /£1.50 | Free |
| Cheques (in/out) | £10/£15 | free |
| Debit Card Payments | Yes | Yes |
| CHAPS Payments | £25 | £35 |
| SEPA Payments | £25 | free |
State Bank of India UK vs Shawbrook 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 Shawbrook Bank offer.
| State Bank of India UK | Shawbrook 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 | 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 | No |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Services | No | Yes |
| Free Accouting Software | Yes | No |
State Bank of India UK vs Shawbrook Bank Foreign Currency Accounts
In this section we look at what types of foreign currency accounts each bank offers.
| State Bank of India UK | Shawbrook Bank | |
| US Dollar (USD) Bank Account | Yes | No |
| Euro (EUR) Bank Account | Yes | No |
| 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), | None |
State Bank of India UK vs Shawbrook Bank User Reviews
| State Bank of India UK | Shawbrook Bank | |
| Trustpilot Score (out of 5) | 2 | 4.7 |
| Number of Trustpilot Reviews | 276 | 8790 |
| iPhone App Score | 4.7 | No iPhone app |
| Number iPhone of Reviews | 787 | NA |
| Android App Score | 4.7 | No Android App |
| Number of Android App Reviews | 69 | NA |
State Bank of India UK vs Shawbrook Bank Banking Service Quality
Data for this section comes from the BVA BDRC Business banking service quality report.
| State Bank of India UK | Shawbrook 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 Shawbrook Bank Overview
Here is some other key data about each bank.
| State Bank of India UK | Shawbrook Bank | |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| Market Share | No Data | 0.12% |
| Bank Type | Foreign Bank | Challenger |
| Total Assets | £0.0092 billion GBP | £11.0946 billion GBP |
| Swift/BIC Code | SBIKGB2L | SHBWGB21XXX |
| FCA Number | 757156 | 204574 |
| Company Number | FC004469 | 8804411 |
| Business Customer Phone Number | 0800 532 532 | 44 1277751110 |
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