Best business savings accounts for 2025
Bankrate’s picks for the top business savings accounts
Note: Annual percentage yields (APYs) shown are as of June 2 and may vary by region for some products. Bankrate includes only Federal Deposit Insurance Corp. (FDIC) banks or National Credit Union Administration (NCUA) credit unions in its listings.
Live Oak Bank Business Savings
Our star rating and total number score for small business savings accounts reflects our research based on the financial institutions rates, fees, user convenience and other factors. To help serve you with the most relevant information possible, the reviews are limited to data we have received in the last 12 months at most.
Live Oak Bank offers business owners high yields on savings with a fully digital banking experience. You can earn competitive APYs through their CD products and business savings accounts.
The bank also offers FDIC insurance up to $10 million through its Insured Cash Sweep program, making it ideal for businesses with significant capital.
Axos Bank Business Premium Savings
Our star rating and total number score for small business savings accounts reflects our research based on the financial institutions rates, fees, user convenience and other factors. To help serve you with the most relevant information possible, the reviews are limited to data we have received in the last 12 months at most.
Axos Bank provides two online business savings options for small business owners. The standard Business Savings account requires $1,000 to open, while the Business Premium Savings account offers a more competitive APY with no minimum opening deposit or monthly maintenance fees if you carry a minimum average daily balance of $2,500.
Chase Business Total Savings Account
Our star rating and total number score for small business savings accounts reflects our research based on the financial institutions rates, fees, user convenience and other factors. To help serve you with the most relevant information possible, the reviews are limited to data we have received in the last 12 months at most.
Chase provides two business savings options, Business Total Savings and Business Premier Savings, catering to different business needs. The Total Savings account is suitable for businesses with smaller balances or those starting to save, while Premier Savings is designed for companies with larger cash reserves.
Although the interest rates offered are lower compared to online banks, these accounts integrate seamlessly with Chase's business checking accounts and mobile banking system. They serve a practical function for businesses within the Chase ecosystem, offering benefits like overdraft protection and efficient fund management.
First Internet Bank of Indiana Money Market Savings Account
Our star rating and total number score for small business savings accounts reflects our research based on the financial institutions rates, fees, user convenience and other factors. To help serve you with the most relevant information possible, the reviews are limited to data we have received in the last 12 months at most.
First Internet Bank of Indiana, established in 1999 as an early online banking innovator, now provides various digital banking solutions for businesses. Their Money Market Savings account features tiered interest rates, incentivizing higher balances with increased yields. The bank's business checking accounts, coupled with the "Balance Optimizer" tool, facilitate seamless fund transfers between accounts to maximize interest earnings.
NBKC Business Money Market Account
Our star rating and total number score for small business savings accounts reflects our research based on the financial institutions rates, fees, user convenience and other factors. To help serve you with the most relevant information possible, the reviews are limited to data we have received in the last 12 months at most.
NBKC Bank offers a Business Money Market account with a competitive APY for all balances, reflecting their "zero is our favorite number" ethos with no minimum account opening requirements and just a penny needed to start earning interest. While physical branches are primarily located around Kansas City, their comprehensive online platform caters to business clients across the nation.
A closer look at Bankrate's top picks for best business savings accounts
Live Oak Bank
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Live Oak Bank is an online-only financial institution that offers high-yield deposit products. Its Business Savings account earns a competitive APY and doesn’t require a set minimum balance or opening deposit amount. You won’t be charged a monthly maintenance fee, and you can manage your accounts either online or through the mobile banking app.
Axos Bank
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Axos is an online-only bank that offers both consumer and business accounts. In addition to earning a competitive APY, the Business Premium Savings account doesn’t charge monthly maintenance fees or require a minimum opening deposit. What’s more, domestic and international incoming wire transfers are free.
Chase
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The Business Total Savings account from Chase could be a good fit for a business owner who prioritizes in-person banking. The bank offers a presence in nearly every state, with more than 4,700 branches nationwide. The $10 monthly service fee is waived with a balance of at least $1,000 or a linked Chase Business Complete Checking account.
The account earns a low APY, however, so business owners who are comfortable either banking online or with a smaller branch network will be able to find significantly higher rates with other banks.
Chase also offers a Business Premier Savings account that earns a slightly higher APY when it’s linked to a qualifying Chase business checking account.
First Internet Bank of Indiana
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The Money Market Savings account from First Internet Bank of Indiana has a tiered interest structure. Daily balances of $1 million or less earn a lower APY than daily balances higher than $1 million.
The account can be opened with as little as $100, and the monthly maintenance fee of $5 is waived for those who maintain an average daily balance of at least $4,000. Business owners who are sole proprietors receive an ATM card with the account.
NBKC Bank
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Unlike some other bank accounts, the Business Money Market Account from NBKC Bank doesn’t charge you for things like incoming domestic wire transfers, stop payments, returned items, overdrafts or nonsufficient funds.
The account earns the same APY on all balances, and it requires no minimum opening deposit or balance. It comes with a business debit card.
What is a business savings account?
A business savings account is a liquid deposit account in which you can set aside business funds for future use. Like a personal savings account, a business savings account typically earns a modest amount of interest, and its offerings may include an ATM card, a mobile banking app and the ability to transfer money to and from other accounts.
When shopping for a business savings account, factors to consider include the annual percentage yield (APY), minimum deposit and balance requirements, fees that are charged and digital banking features. The best accounts earn some interest and don’t impose fees that would eat away at your savings.
Here we go over some of the best business savings accounts, including some money market options that offer tiered rates and come with debit cards.
What to look for in a business savings account
Rates
Business savings accounts might not always earn as high of a rate as personal savings accounts, yet it still pays to shop around for a competitive APY. Often, the best rates can be found from online-only banks, some of which are included in our list. However, note that some savings accounts have a minimum balance requirement in order to earn their highest yield.
A lot of business savings accounts have a tiered structure, so it’s important to compare rates based on how much money you plan to keep in the account. Fees are also more common with business accounts than personal ones, so make sure you’re looking at what you’ll actually earn after fees. If the fees are high, they can eat into your balance fast, especially if you’re not keeping a lot of money in the account.- R.J. Weiss, CFP®, CEO of The Ways to Wealth
Fees
When shopping for a business savings or business money market account, be sure to find one that doesn’t have fees that will chisel away at your principal or interest earnings. In addition to monthly maintenance fees, some banks charge for out-of-network ATM use, overdrafts, sending or receiving wire transfers, or closing a new bank account within a certain period of time.
Branch access
Some business owners prefer bank accounts that can be managed entirely online, whereas others prefer being able to visit branches and speak face-to-face with bank representatives. Plenty of brick-and-mortar banks offer business savings accounts — although you might not receive as favorable of a rate there as you would from an online bank.
You may be able to find a credit union with branches near you that pays better rates on a business savings account than the rates offered by big banks.
Level of FDIC insurance
The Federal Deposit Insurance Corporation (FDIC) provides insurance coverage of $250,000 per depositor, per insured bank, for each account ownership category.
Businesses with savings accounts above this limit still have options. One option is the Insured Cash Sweep, which distributes funds across multiple FDIC-insured banks. This method allows for higher insurance coverage, with some ICS accounts offering protection for up to $150 million.
Pros and cons of business savings accounts
Pros
- Provides a financial safety net for unexpected expenses or drops in sales
- Keeps business and personal finances separate
Cons
- Failure to meet minimum deposit requirements could result in account closure or reduced interest rates
- Higher fees compared to personal savings accounts
- Potential maintenance fees if minimum balance requirements aren’t met
Business savings account FAQs
Methodology
Every bank review we publish has undergone a rigorous editorial process to ensure accuracy and objectivity.
Bankrate evaluates business savings accounts using a 5-star rating system that weighs factors most important to business owners. Our methodology assigns the highest weight (50 percent) to APY offerings, as earning potential is crucial for business cash reserves. We also consider monthly service fees (20 percent), minimum balance requirements (20 percent) and account accessibility (10 percent).
Accounts receive higher scores for competitive interest rates, low or no monthly fees, reasonable minimum balance requirements and flexible access options including online transfers, mobile deposit and ATM access.
Learn more about our methodology here.
Review methodology
Choosing the right business savings account can significantly impact your company's financial health. Bankrate's comprehensive list of business savings account reviews is regularly updated to help business owners make informed decisions. Our editorial team thoroughly analyzes each financial institution's business savings offerings, evaluating key factors including APY, minimum deposit requirements, monthly service fees, balance requirements and account accessibility options.
We research accounts from national banks, online banks, credit unions and regional institutions to provide a wide range of options for businesses of all sizes. Our team collects data directly from financial institutions, verifying information through multiple sources to ensure accuracy. This rigorous process helps us identify accounts that offer the best combination of competitive rates, low fees and business-friendly features.