Capital One Business Savings Account Review 2025

At a glance

Capital One business savings account overview

Capital One's Business Advantage Savings account offers businesses a tiered promotional interest rate of up to 3.70 percent APY guaranteed for the first three months after account opening. 

The promotional rate is tiered based on account balance: 

• 0.25 percent APY applies to balances up to $9,999.99
• 3.70 percent APY applies to balances between $10,000 and $10 million
• 0.10 percent APY applies to balances above $10 million. 

After the promotional period, rates revert to standard variable rates that are subject to change. The account requires a modest $250 minimum opening deposit and charges a $3 monthly fee that's easily waived by maintaining a $300 minimum balance.

Where Capital One stands out

• Extended branch access. Unlike online-only competitors, Capital One maintains physical branches in nine states and Washington, D.C., giving businesses in those areas access to in-person banking services. This can be particularly valuable for companies that occasionally need to deposit cash or speak with a banking representative face-to-face.
• Integration with the Capital One ecosystem. For businesses already using Capital One's other services, the savings account integrates seamlessly with their business checking accounts for overdraft protection and simplified fund management. Capital One also offers highly-rated business credit cards with robust rewards programs, creating a potential one-stop shop for business banking needs.
• Low balance requirements. With just a $250 minimum opening deposit and a $300 minimum balance requirement to waive the $3 monthly fee, Capital One's business savings account is accessible to businesses of all sizes. These thresholds are significantly lower than many competitors, making it easy for even small startups to avoid fees.
• Strong promotional interest rate. Capital One's three-month promotional rate of up to 3.70 percent APY is competitive with many online business savings accounts, giving businesses a nice boost for their initial deposits. This makes it particularly attractive for companies with at least $10,000 to park in savings who can maximize the highest tier of the promotional rate.

Where Capital One falls short

• Balance tier requirement for best rate. To earn the highest promotional APY of 3.70 percent, accounts must maintain a balance between $10,000 and $10 million. Businesses with less than $10,000 in savings will earn just 0.25 percent APY during the promotional period, significantly lower than the top tier.
• Geographic restrictions for branch access. While Capital One does offer physical branch locations, they're limited to nine states (Connecticut, Delaware, Louisiana, Maryland, New Jersey, New York, Texas, Virginia, and Washington, D.C.). Businesses outside these areas will need to rely entirely on online and mobile banking.
• Limited promotional period. The attractive promotional rate only lasts for three months (92 days) after account opening. After this period, rates drop to standard variable rates, which are typically much lower than the promotional offering. Businesses seeking consistently high yields over the long term may find better options elsewhere.
• Six-withdrawal monthly limit. Like many savings accounts, Capital One limits customers to six free withdrawals per statement cycle. While this is standard across the industry, some competitors now offer more flexible transaction limits that may better serve businesses with more frequent transfer needs.

Capital One customer experience

Customer support

Capital One offers multiple customer support channels for business clients. Phone support is available Monday through Friday from 8 a.m. to 8 p.m. ET, and on Saturday from 8 a.m. to 6:30 p.m. ET. 

Businesses can also receive personalized assistance by scheduling appointments at branch locations in supported states. For qualifying businesses, Capital One offers dedicated business bankers who can provide specialized guidance on banking products and services.

Digital experience

Capital One provides a robust digital banking experience through both its website and mobile app. Business owners can manage their accounts, transfer funds, deposit checks and set up alerts through these platforms. 

The Capital One mobile app is highly rated, receiving 4.8 out of 5 stars in the Apple App Store and 4.6 out of 5 stars in the Google Play Store. Digital tools provide convenient 24/7 access to account information and banking services, enabling business owners to manage their finances from anywhere.

How Capital One compares to other banks

Capital One's business savings account competes with offerings from both traditional and online banks, positioning itself as a middle ground with some physical branches but strong digital capabilities.

Capital One vs. Axos Bank

Axos Bank's Business Premium Savings account offers a more consistent 3.80 percent APY without the three-month time limitation of Capital One's promotional rate. Axos Bank also has no monthly fees or minimum balance requirements on its premium account, compared to Capital One's $3 fee (waivable with a $300 balance). 

However, Axos is an online-only bank with no physical branches, while Capital One provides in-person services in nine states. For businesses seeking long-term high yields and no minimum balance requirements, Axos may be preferable, but those valuing branch access in supported states might lean toward Capital One.

Capital One vs. First Internet Bank of Indiana

First Internet Bank's Business Money Market Savings offers a competitive APY of 3.46 percent for balances up to $5 million (and 4.42 percent for higher balances) without a promotional period limitation. However, it requires a higher minimum balance of $4,000 to waive the $5 monthly fee, compared to Capital One's lower $300 threshold to waive a $3 fee. 

First Internet Bank of Indiana is primarily online with just one physical location, giving Capital One the edge for in-branch banking in its supported states. Businesses with larger balances might prefer First Internet Bank's consistently higher rates, while those with smaller balances or branch needs might favor Capital One in supported states.

Is Capital One right for you?

Who Capital One is best for

Capital One is an excellent fit for new businesses looking to establish a banking relationship with strong promotional rates. The low balance requirements ($250 to open, $300 to waive fees) make it a great option for those small businesses and startups with limited cash reserves. 

It's also ideal for businesses located in Capital One's nine-state branch network who value face-to-face banking options combined with strong digital tools. Companies that maintain balances between $10,000 and $10 million will benefit most from the promotional rate structure.

The account is a great complement for those already using other Capital One products, as the integration with business checking accounts and credit cards creates a streamlined financial ecosystem that simplifies management and may offer relationship benefits.

Who Capital One might not be best for

Capital One's business savings may not be the right choice for businesses focused on maximizing long-term interest earnings, as the attractive promotional rate expires after three months. Companies consistently maintaining less than $10,000 in savings will earn a relatively low promotional rate of 0.25 percent APY, making other options more attractive for smaller balances.

Businesses located outside Capital One's branch network who prioritize in-person banking should consider alternatives with more extensive physical locations. Additionally, companies that need to make frequent withdrawals or transfers from savings might find the six-transaction monthly limit restrictive compared to business checking accounts or more flexible savings options available elsewhere.

How to open a business savings account with Capital One

1. Gather your business documentation, including your Employer Identification Number (EIN) or Social Security number (for sole proprietors), business formation documents (articles of incorporation, business licenses, etc.) and proof of ownership.
2. Choose your application method: online through Capital One's website, by phone or in person at a Capital One branch if you're in one of their service areas.
3. Complete the application form with your business information, including business name, address, industry type and ownership structure.
4. Provide personal information for all business owners with 25 percent or greater ownership stake, including Social Security numbers, addresses and contact details.
5. Submit required documentation as requested during the application process. Documentation requirements vary based on your business structure.
6. Fund your new account with at least $250 via electronic transfer from an existing account, check or cash (if applying in-branch).
7. Set up online banking access to manage your new business savings account.
8. Consider linking your savings account to a Capital One business checking account for overdraft protection and easier fund management.

How we rated this account

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.