Best Business Savings Account Rates – 2024

Here you’ll find best business savings, money market, and interest bearing account rates.

Update 12/2/24: We’ve updated our list of the top rates for business accounts.

You may already have a business checking account and looking to open an interest bearing account for your business to earn interest on the money.

This can help business owners accrue interest for a rainy day fund / emergency fund, a purchase, expansion, and more!

Featured Best Business Savings Rates

Live Oak Bank Business Savings $200 Bonus

Growing your savings just got easier! Open a new Live Oak Bank business savings account with qualifying activities to receive a $200 cash bonus.

• High interest rate
• Transparent online account opening
• FDIC insurance up to $250,000
• Maximize Your Returns. Our competitive business savings interest rates fuel your growth.
• Protect Your Assets. Your deposits are FDIC-insured, safeguarding your business from financial risks.
• Streamline Your Financial Management. Open your business savings account online and add authorized signers to accelerate efficiency.
• Integrate with Your Accounting Software. Connect your account to QuickBooks for seamless financial tracking and reporting.
• Avoid Unnecessary Costs. Benefit from no monthly maintenance fees, boosting your business’ bottom line.

Unlock the potential of your business savings.

How to earn bonus:

• Open a Live Oak Bank business savings account by 01/13/25.
• Fund Your Account. Deposit at least $20,000 into your account by 01/13/25.
• Maintain Your Balance. Maintain a balance of at least $20,000 for 60 days.
• If all eligibility criteria are met, the $200 cash bonus will be deposited to your open, eligible account within 45 days following the expiration of the 60-day period

(FDIC Insured)

Bluevine Business Checking $300 Bonus

You can earn $300 when you open a new Bluevine Business Checking account and meet eligibility requirements.

How to earn it:

• To get your $300 bonus, apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using referral code RV300.
• After opening your account, deposit a total of $2,000 within the first 30 days. After 30 days, maintain a minimum daily balance of $2,000 while also completing at least one of the following eligibility requirements every 30 days for 90 days:
  • Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
  • Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
  • Spend at least $2,000 on eligible transactions1 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®

(FDIC Insured)

With the Bluevine Business Checking account, you’ll get big benefits on top of saving on fees, earn interest, and setting up your business for success.

• Earn 1.50% high yield interest on your balance up to and including $100,000 if you meet a monthly activity goal.
• No monthly fees; no overdraft fees
• Open an account with no minimum deposit required.
• Make all the deposits or payments you need with no limit on your number of transactions.

(FDIC Insured)

Axos Bank Business Premium Savings

Unlock a bonus up to $375 with Business Premium Savings. Save more, pay lower fees, and get a limited-time bonus up to $375 with a 4.01% APY* Business Premium Savings account. Use promo code BPS375.†

How to earn it:

• Business Premium Savings bonus of up to $375: You must be approved for your new Business Premium Savings account and fund it within 30 days of account opening.
• An incentive of up to $375 can be earned during the first four (4) statement cycles. A statement cycle is a calendar month consisting of at least one day your account was open during that month.
  • $75 will be earned for each statement cycle during which the average daily balance in your Business Premium Savings account is between $30,000 and $74,999.99.
  • $125 will be earned for each statement cycle during which the average daily balance in your Business Premium Savings account is a minimum of $75,000 or greater.
• You can earn a maximum of three (3) payouts during the four (4) statement cycles, and the incentive will be deposited into your Business Premium Savings account within 10 business days following the end of the statement cycle in which the balance requirement was met.
• Your Business Premium Savings account must remain open and in good standing at the time the incentive is paid to be eligible.
• Furthermore, your Business Premium Savings account must remain open for 120 days, or an early closure fee of up to $375 may apply.

(at Axos Bank)

Terms:

• To be eligible to earn all or a portion of the cash incentive as part of the promotional offer “BPS375,” a Business Premium Savings (BPS) account must be submitted between 08/08/2024 at 12:00 am PT and 12/31/2024 at 11:59 pm PT. Axos Bank reserves the right to limit each primary account holder or business title to one (1) savings account promotional offer per year. Businesses that have held an Axos Bank or UFB savings account for the past 12 months under the same title are not eligible for this offer. Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor.

• Unlock a bonus up to $375 with Business Premium Savings.
• Save more, pay lower fees, and get a limited-time bonus up to $375 with a 4.01% APY* Business Premium Savings account. Use promo code BPS375.†
• Earn 4.01% APY* With Business Premium Savings
• Free domestic and international incoming wires
• No monthly maintenance fee
• No minimum opening deposit
• No average daily balance requirement
• Business deposit accounts FDIC insured up to $250k

(at Axos Bank)

Axos Bank Business Interest Checking

With the Axos Bank Business Interest Checking, you’ll earn up to 1.01% APY and the opportunity to earn a $400 bonus.

You can earn a $400 bonus when opening a new Business Interest Checking account from Axos Bank. To be eligible, you must complete certain requirements.

• What you’ll get: $400 bonus + up to 1.01% APY
• Eligible account: Business Interest Checking account
• How to earn it: 
  • Open a new Business Interest Checking account using promo code NEW400.
  • You must be approved for your new Business Interest Checking account and fund it within 30 days of account opening.
  • An incentive of up to $400 can be earned during the first five (5) statement cycles.
  • You can earn a maximum of four (4) payouts during the five (5) statement cycles, and the incentive will be deposited into the qualifying account within 10 business days following the end of the statement cycle in which the balance requirement was met.
    • $75 will be earned for each statement cycle, up to $300 when you meet three requirements:
      • 1) the average daily balance in your Basic Business Checking account or Business Interest Checking Account is between $25,000 and $49,999.99,
      • 2) you have completed ten (10) point-of-sale transactions per month using your Small Business Checking Visa® Debit Card for signature-based purchases with a minimum of $3 per transaction,
      • 3) You must also have bill pay set up and connected to your Basic Business Checking account or Business Interest Checking account. The bill pay transaction minimum is $10.
    • $100 will be earned for each statement cycle, up to $400 when you meet three requirements :
      • 1) the average daily balance in your Basic Business Checking account or Business Interest Checking Account is greater than $50,000,
      • 2) you have completed ten (10) point-of-sale transactions per month using your Small Business Checking Visa® Debit Card for signature-based purchases with a minimum of $3 per transaction,
      • 3) You must also have bill pay set up and connected to your Basic Business Checking account or Business Interest Checking account. The bill pay transaction minimum is $10.
  • Your Small Business Checking account must remain open and in good standing at the time the incentive is paid to be eligible. Furthermore, your Small Business Checking account must remain open for 150 days, or an early closure fee of up to $400 may apply.

(Visit Axos Bank to learn more)

U.S. Bank Platinum Business Money Market

Receive a bonus interest rate up to 3.50% from the account opening date when you open a new Platinum Business Money Market Account and complete qualifying activities, subject to certain terms and limitations. Offer valid through December 20, 2024.

Complete these steps to earn the offer:

• Open a new Platinum Business Money Market Account
  • 3.50% bonus interest rate when your account balance tier is between $25,000 to $2,999,999.99
• For Platinum Business Money Market accounts with $3 million or greater in balances, the bonus interest rate does not apply, and the full account balance will earn the standard variable interest rate in effect at that time.

(FDIC Insured)

With the Live Oak Bank Business Savings account, earn 3.80% APY. Big banks offer high fees and low interest rates. Enjoy a better way to save for your business. High-yield interest. No monthly maintenance fees. No minimum balance requirements.

• Human-powered service. Their customer success team is dedicated to providing you personalized support
• No online banking or monthly maintenance fees
• No minimum balance requirements
• Open account online in minutes
• Human-powered support
• Available to businesses nationwide
• FDIC insured up to $250,000

(FDIC Insured)

LiLi Banking

With Lili Banking, you’ll earn 3.65% APY on your funds with business banking. You’ll enjoy banking that was designed for your business with checking, taxes, account, and more – all in one app!

• Savings with 3.65% APY
• No Minimum Balance
• $0 overdraft fees
• No hidden fees
• Tax Optimizer. Write-Off Tracker, Automatic Tax Savings, Schedule C Generator
• DIY Accounting. Invoicing Software, Receipt Scan & Save, Transaction Categorization
• Customer Support on Your Schedule
• FDIC Insured

(Member FDIC)

Grasshopper Bank Business

With the Grasshopper Bank Business Checking, you’ll earn a competitive rate on balances over $10,000. On top of that, earn 1% cash back with no monthly fee and unlimited transactions.

• Innovator Checking clients get exclusive access Grasshopper’s to Innovator MMA Savings account which earns 3.30% APY with balances over $25,000.
• Convenient Payment Options: Make secure purchases online or in-store with a tap, swipe or from your mobile wallet with your Grasshopper debit card.
• 24/7 Access to your Money: Fee-free withdrawals at 37,000+ MoneyPass and 8,500+ SUM ATMs nationwide.
• Earn Unlimited 1% Cash Back: Get 1% cash back on online and in-store signature based purchases.
• Instant-Issue Virtual Cards: Create and issue virtual debit cards instantly. Utilize these virtual debit cards for in-person contactless payments or online purchases.
• Digital Card Controls: Elevated security allows you to lock and unlock your card in seconds.
• Unlimited Transfers: Move money easily with unlimited free ACH and incoming domestic wires.

(FDIC Insured)

Bluevine Premier Business Checking

With Bluevine Premier, you get a higher yield business checking account, savings on payments, and more.

• 4.00% APY on balances up to $3M
• 50% off most standard payment fees
• Priority customer support
• ($95/month or $0/month)

You can waive the monthly fee for Premier by maintaining an average daily balance of at least $100,000 across your Bluevine Business Checking account and sub-accounts each billing period, and spending at least $5,000 with your Bluevine debit card each billing period.

(Member FDIC)

Best Business Savings Rates

Business Savings vs Business Money Market Accounts

Both accounts enable you to earn interest on the money in the accounts and are FDIC insured; both will typically hold a withdrawal limit of six times per month.

Business money market accounts may generally offer higher interest rates compared to savings, however, this does not always hold true in the present day as some business savings account offered may outperform their counterparts.

Now, a perk of business money market accounts include a debit / ATM card, checks, and features resembling a checking account.

Business Checking vs Business Savings Accounts

There are two key differences between a business checking and business savings account.

• Typically, money in a checking account will not earn interest over time like a savings account would. This is important as savings accounts will earn interest on your funds, so it’s ideal to not store your entire business funds in a checking account that’s earning little to no interest. As a note: as of present day, there are checking accounts offered that do you offer fairly competitive rates.
• As far as availability, savings account holders may not be able to access their funds as easily as a checking account. To explain why, savings account holders may be limited to 6 withdrawals per statement cycles and a fee may incur if the limit is exceeded.

What To Look for When Opening An Account

Opting to open a business savings, money market, or interest bearing account has many factors depending on your business’ needs. Below are some key factors to help you decide on which savings account is best for you and your business on top of the rate.

• How to open an account: Are you able to open the account online or will you need to open it in-branch? Do you have flexibility in these options?
• Is there a minimum balance requirement? Will you need to hold minimum balance to earn the interest rate / APY? This will be a good indicator if you’re able to hold the balance, if any, to earn the rate on your funds.
• Is there a minimum opening deposit? This may range from $0 to a specified amount – but it a good idea to check for this factor to see if your business account has the funds to open the account.
• Are there any monthly fees? Will the account come with any fees and are there ability for waived fees? There are plenty of free savings accounts, so ideally, you will want an account that offers low to no fees. This may go hand in hand with the minimum balance requirement (example: you must maintain a balance of $xxxx to waive the monthly fee, otherwise, $x monthly fee).
• Are there monthly withdrawal / transfer limits? Typically, you’ll find that there is a limit of six withdrawals per month or a fee may incur. You business savings account may convert to a business checking account with excessive withdrawals.
• Will you have ATM access? Will the account offer a business ATM or debit card with your account? If the institution does, where will you be able to use it?

Conclusion

Having a business savings account is a great idea to not only earn interest on your business’ money, but it can be a great way to save up for a big purchase, emergency fund, an unexpected expense, and more!

In addition, having a savings account for your business may grant you loan approvals in the future as lenders can see that your business has the cash and liquidity to pay back the borrowed money.

Hopefully this list helped you find the best savings account and rate for your business.

For more options for personal accounts, see our list of the best bank rates for savings, money market accounts and more!

If you’re looking to open a checking account for your business, see our list of the latest promotions for business checking accounts.