Business savings review methodology
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How Bankrate rates business savings accounts
For business owners looking to find the best savings account for their company's needs, the choices can seem overwhelming. Finding the right mix of high interest rates, low fees, reasonable minimum balance requirements and convenient access options requires thorough research and analysis.
That's where Bankrate can help. Our banking editorial team regularly evaluates data from financial institutions across the country to help business owners find savings options that work best for their specific needs. We analyze and review each business savings account using a comprehensive methodology designed to highlight the features that matter most to businesses.
Our business savings account scoring system
Bankrate rates business savings accounts on a 5-star scale. Our scoring system weighs factors according to their importance to business account holders:
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APY offering 50%
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Monthly service fee 20%
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Minimum deposit and balance requirements 20%
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Access to funds 10%
APY offering
The interest rate is the primary reason most businesses choose one savings account over another, making this our most heavily weighted factor.
| Breakdown | |
|---|---|
| 5 stars | 3.80% APY or higher |
| 4 stars | 2.55% - 3.79% APY |
| 3 stars | 1.10% - 2.54% APY |
| 2 stars | 0.15% - 1.09% APY |
| 1 star | 0% - 0.14% APY |
We typically look at the APY for balances of $25,000 and under, as this represents a common range for small to medium-sized businesses.
Monthly service fee
Monthly maintenance fees can significantly impact the overall value of a business savings account, especially for smaller businesses with tight operating margins.
| Breakdown | |
|---|---|
| 5 stars | No monthly service fee |
| 4 stars | $0.01 - $3.00 monthly fee |
| 3 stars | $3.01 - $5.00 monthly fee |
| 2 stars | $5.01 - $10.00 monthly fee |
| 1 star | $10.01 or higher monthly fee |
Accounts with reasonable fee waiver options may receive higher ratings in this category.
Minimum deposit and balance requirements
This category includes two components:
Minimum deposit/minimum balance to earn interest (10%)
| Breakdown | |
|---|---|
| 5 stars | $50 or less |
| 4 stars | $51 - $100 |
| 3 stars | $101 - $1,000 |
| 2 stars | $1,001 - $5,000 |
| 1 star | $5,000.01 or higher |
Minimum balance to avoid monthly service fee (10%)
| Breakdown | |
|---|---|
| 5 stars | $100 or less |
| 4 stars | $101 - $300 |
| 3 stars | $301 - $500 |
| 2 stars | $501 - $2,500 |
| 1 star | $2,500.01 or higher |
Lower minimum requirements make accounts more accessible for small businesses and startups, which is why we value them highly.
Access to funds
The ability to conveniently access and manage business funds is an important consideration for all companies.
| Breakdown | |
|---|---|
| 5 stars | Offers transfers AND mobile check deposit AND branch/ATM access for withdrawals |
| 4 stars | Offers transfers AND either mobile check deposit OR branch/ATM access for withdrawals, but not both |
| 2 stars | Standard transfers only (ACH, wire, etc.) |
Accounts with more flexible access options receive higher ratings.
How we collect our data
Our editorial team gathers information directly from financial institutions through their websites, customer service representatives and official documentation. We verify all data through multiple sources to ensure accuracy.
We research accounts from national banks, online banks, regional institutions and credit unions that offer business savings products, giving preference to accounts that are available nationwide.
How we determine the overall star rating
To calculate the overall star rating for a business savings account, we multiply each category score by its corresponding weight, then add these weighted scores together.
For example:
An account with a 4.0/5.0 APY score (weighted at 50%) would contribute 2.0 points
A 5.0/5.0 score for monthly service fee (weighted at 20%) would add 1.0 point
A combined 4.0/5.0 for minimum deposit/balance requirements (weighted at 20%) would add 0.8 points
A 5.0/5.0 for access to funds (weighted at 10%) would add 0.5 points
The total score would be 4.3/5.0 stars
Review updates
Bankrate typically conducts comprehensive reviews of business savings accounts at least once a year. However, we may update reviews more frequently to reflect significant changes in rates, fees or features that could impact our ratings.
Bottom line
Choosing the right business savings account is an important financial decision that can impact your company's bottom line. Bankrate's thorough evaluation process is designed to help you identify accounts that offer the best combination of competitive rates, low fees, reasonable minimum balance requirements and convenient access — allowing you to make a more informed choice for your business's financial needs.