If your business is raking in the dough or you have some cash set aside for emergencies, a high-yield savings account is a great option. With high rates, low fees and few requirements, the best high-yield business savings accounts from providers like Axos, Live Oak and Bluevine can help your funds grow passively without hassle.
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With a high rate of 4.01%, the Axos Business Premium Savings account squeaks by as the best overall high-yield business account pick. There are no monthly fees, no opening deposit requirements and no fees for incoming domestic or international wire transfers. You also don't have to worry about daily balance requirements. It's simple, easy to maintain and offers one of the highest rates among business savings accounts in the market.
APY
4.01%
Fee
$0
Minimum deposit to open
$25,000
With a high rate of 4.01%, the Axos Business Premium Savings account squeaks by as the best overall high-yield business account pick. There are no monthly fees, no opening deposit requirements and no fees for incoming domestic or international wire transfers. You also don't have to worry about daily balance requirements. It's simple, easy to maintain and offers one of the highest rates among business savings accounts in the market.
Offering up to 3.8% APY, Live Oak's business savings account is a high-yield option without hassle. There are no monthly fees and virtually no balance requirements, requiring only a balance of $0.01 to earn interest. You can also add up to four additional authorized signers to the account. On the downside, Live Oak doesn't accept cash deposits.
APY
3.80%
Fee
$0
Minimum deposit to open
$0
Offering up to 3.8% APY, Live Oak's business savings account is a high-yield option without hassle. There are no monthly fees and virtually no balance requirements, requiring only a balance of $0.01 to earn interest. You can also add up to four additional authorized signers to the account. On the downside, Live Oak doesn't accept cash deposits.
While it's not a traditional business savings account, Bluevine business checking offers very impressive APYs, including 1.5% to 4.25% APY on your checking balance, depending on your membership tier. The $0 Standard plan offers 1.5% APY with some activity requirements. The $30 Plus plan, with a waivable fee, provides 3% APY, while the Premier plan at $95 per month — also waivable — offers up to 4.25% APY on your balance without activity requirements. Beyond the high rates, Bluevine's account is full of features and management tools, such as subaccounts, unlimited transactions, cashback rewards, free checks and so much more.
APY
Up to 4.25%
Fee
From $0 per month
Minimum deposit to open
$0
While it's not a traditional business savings account, Bluevine business checking offers very impressive APYs, including 1.5% to 4.25% APY on your checking balance, depending on your membership tier. The $0 Standard plan offers 1.5% APY with some activity requirements. The $30 Plus plan, with a waivable fee, provides 3% APY, while the Premier plan at $95 per month — also waivable — offers up to 4.25% APY on your balance without activity requirements. Beyond the high rates, Bluevine's account is full of features and management tools, such as subaccounts, unlimited transactions, cashback rewards, free checks and so much more.
Pros
$0 Standard plan
High APYs across plans
Tons of account management tools
Unlimited transactions
Accepts cash deposits at Green Dot locations
Cons
Online only
Activity requirements to earn interest with Standard plan
$30 for Plus and $95 for Premier (both waivable)
Annual Percentage Yield (APY)
4.25% on balances of $0 to $3,000,000 3.00% on balances of $0 to $250,000 1.50% on balances of $0 to $250,000
Intro or bonus offer
You can earn $300 when you open a new Bluevine Business Checking account and meet eligibility requirements. Apply with referral code CA300.
The Primis Business Savings account is hard to beat with its high 4% APY, low $1 opening deposit requirement and no monthly fees. It also offers cash flow analytics tools, unlimited transactions and no incoming wire transfer fees. But Primis is primarily an online bank, so branch access may not be available.
APY
4.00%
Fee
$0
Minimum deposit to open
$1
The Primis Business Savings account is hard to beat with its high 4% APY, low $1 opening deposit requirement and no monthly fees. It also offers cash flow analytics tools, unlimited transactions and no incoming wire transfer fees. But Primis is primarily an online bank, so branch access may not be available.
Pros
High 4% APY
No monthly fees
No transaction limits
Cons
Mostly online bank
Only accepts 1,000 new customers per month
APY
4.00%
Minimum balance to earn interest
$0
APY
4.00%
Fee
$0
Minimum deposit to open
$1
verified_userFDIC Insured
First Internet Bank Business Money Market Savings
4.1
★★★★★
Finder score
First Internet's business Money Market Savings offers 3.46% APY with a daily balance under $5,000,000, or 4.69% with a daily balance above $5,000,000. It requires a $100 opening deposit and has a $5 monthly fee, which you can waive with a daily balance of $4,000. And sole proprietors can get an ATM card.
APY
Up to3.46%
Fee
$5 per month (can be waived)
Minimum deposit to open
$100
First Internet's business Money Market Savings offers 3.46% APY with a daily balance under $5,000,000, or 4.69% with a daily balance above $5,000,000. It requires a $100 opening deposit and has a $5 monthly fee, which you can waive with a daily balance of $4,000. And sole proprietors can get an ATM card.
Pros
Up to 4.69% APY
ATM card for sole proprietors
Low $5 monthly fee (waivable)
Cons
Online only
$100 opening deposit requirement
APY
Up to3.46%
Interest compounding
Monthly
Minimum balance to earn interest
$0
Monthly transaction limit
6
APY
Up to3.46%
Fee
$5 per month (can be waived)
Minimum deposit to open
$100
verified_userFDIC Insured
NBKC Bank Business Money Market
4.1
★★★★★
Finder score
The nbkc Business Money Market has a decent 2.75% APY on all balances and has no monthly fees, opening deposit requirements or balance requirements. This account also includes an nbkc Business Debit MasterCard, no overdraft fees, free bill pay, no transaction limits and no fees for incoming domestic wires. While the APY is lower than the others on this list, this account is significantly more flexible and has fewer fees than most MMAs.
APY
2.75%
Fee
$0
Minimum deposit to open
$0
The nbkc Business Money Market has a decent 2.75% APY on all balances and has no monthly fees, opening deposit requirements or balance requirements. This account also includes an nbkc Business Debit MasterCard, no overdraft fees, free bill pay, no transaction limits and no fees for incoming domestic wires. While the APY is lower than the others on this list, this account is significantly more flexible and has fewer fees than most MMAs.
Pros
Competitive 2.75% APY
No monthly fees or balance requirements
Debit card and checks
No overdraft fees
Cons
One branch in Missouri
$45 international wire fee
APY
2.75%
Interest compounding
Daily
Minimum balance to earn interest
$0.01
Monthly transaction limit
6
Fee per transaction over the limit
$10
APY
2.75%
Fee
$0
Minimum deposit to open
$0
Methodology: How we chose the best business savings accounts
Finder’s banking experts compare dozens of the best business savings accounts, money market accounts and interest-bearing checking available. For our list of the best high-yield savings accounts, we only considered accounts that met the following minimum requirements:
APY above 2%
Monthly fee of $0 to $20
Minimum deposit of $100 or less
Available in all states
FDIC- or NCUA-insured
How to compare high-yield business accounts
Keep these factors in mind when comparing the best business savings account:
Interest rate. The higher the APY, the more you can earn on your savings account balance. Also, watch out for balance requirements and tiers — some accounts may require high balances to earn any interest.
Monthly fees. Monthly maintenance fees are common for deposit accounts and are much more common for business accounts. Compare free business checking accounts if you want to avoid fees on savings and checking.
Insurance coverage. Most deposit accounts are insured for up to $250,000 per depositor. If your balance exceeds that limit, consider spreading your savings across multiple banks or look for banks with high insurance coverage through a network of program banks, such as Wealthfront’s Cash Account with $5 million in FDIC coverage.
Extra features. Business accounts sometimes include perks you won’t get with personal accounts, such as business software integrations, team management tools or even cash flow analytics like Primis offers.
Cash access. Most savings accounts don’t come with a debit or ATM card. If you want the ability to spend, consider a money market or interest-bearing checking account, such as Bluevine, which has a debit card and checkwriting.
Branch and ATM availability. Many of the best high-yield accounts are offered by online banks, as they have fewer overhead costs than banks with physical branches. However, the tradeoff is that most don’t have branches for in-person support or cash deposits, though some accept cash deposits at Green Dot retail locations.
It’s not necessary to have a business checking or savings account as a business owner, but it can be highly advantageous. Personal accounts can perform many of the same functions as business accounts, such as performing ACH and wire transfers, providing bank statements and offering debit cards.
But the most compelling argument to consider a business account is that it keeps your personal and business finances separate, which can be beneficial during tax season.
Business accounts may also come with higher transaction limits than personal accounts, offer management tools and support software integrations for bookkeeping tools like Quickbooks or Xero.
Additionally, having a business account can aid in building business credit, as many business lenders require you to have one to apply for credit.
The best high-yield business savings accounts offer high APYs without high balance requirements or hard-to-meet opening deposits. But they aren’t your only option for growing your savings — you can also consider certificates of deposit (CDs) for locked-in rates and a no-monthly-fee way to earn interest.
If you’re not ready for a business savings account, many business checking accounts offer tons of team management tools and software integrations — and some are interest-bearing as well.
Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto.
Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt.
Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others.
Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio
Bethany's expertise
Bethany has written 436 Finder guides across topics including:
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