If you own a small business or do side jobs, you might be thinking about where to keep your business money. But you don’t want to get 0% interest like you do with your checking account. That’s where business savings accounts come in. Best Business Savings Accounts
You might want to set up an emergency fund for your firm. You might not want to take a distribution, but you do want your money to at least earn some good interest.
You may already have a checking account for your business and are now looking for a savings account to go with it. The problematic aspect is that most business accounts don’t pay as much interest as the finest personal high-yield savings accounts.
We have found the greatest solutions for you, and we have put them here.
What Is A Business Savings Account?
A business savings account is a bank savings account that you open in your company’s name that’s designated as savings for your business. Just like you might keep your personal emergency fund in a personal savings account, you might want to keep your business emergency fund in a business savings account. Best Business Savings Accounts
A business savings account works just like a personal savings account, except that you need to open it in your business’ name. You also need to account for it on your business tax return.
You might want to open a business savings account to earn more interest on your business cash. Some businesses need to store a good amount of cash – and leaving that money in a checking account can cost you serious interest!
For example, with interest rates near 4%, every $100,000 in your business could be earning you $4,000 per year. That’s $333 per month! Don’t let that money slip away. Best Business Savings Accounts
The Best Business Savings Account Options
Based on our criteria, here are our choices for the best business savings and money market accounts available. Some of these are a little unorthodox, but they work!
Note: Annual percentage yields (APYs) shown are as of February 17, 2026. The College Investor’s team updates this information regularly, typically Monday-Friday. Rates may have changed since they were last updated and may vary by region for some products.
1. AXOS Business Premium Savings
Axos Business Premium Savings makes this list because it offers some of the highest interest available for business accounts. Best Business Savings Accounts
Right now, you can earn up to 3.60% APY on your money with the Axos Business Premium Savings account (which is better than most business savings accounts). The interest on this account is tiered, but all tiers are currently the same rate:
- $0 – $23,999.99: 3.60%
- $24,000.00 – $249,999.99: 3.60%
- $250,000.00 – $499,999.99: 3.60%
- $500,000.00 – $999,999.99: 3.60%
- $1,000,000+: 3.60%
There are also no minimum balance requirements and no monthly maintenance fees.
Plus, right now discover the Axos Business Bundle, combining flexible checking with high-yield savings and earn an exclusive bonus of up to $600. Use promo code SBB600 by June 30, 2026 and complete the qualifying activities. Best Business Savings Accounts
2. Live Oak Bank Business Saving Account
Live Oak Bank offers a very competitive Business Savings Account. The business savings account has no monthly maintenance fees, no minimum balance requirement, and currently earns 2.85% APY.
Why I Like It: One of the best business savings accounts.
3. North One
The NorthOne Business Checking Account is another excellent solution for side hustlers and small business owners. This isn’t truly a business savings account but rather a checking account with a high yield!
To earn the highest balance, there is a monthly fee, but you can still earn a solid rate on their free account.
Right now, you can earn 2.50% APY on your balance with NorthOne Standard. That can rise to 3.00% APY if you enrol in NorthOne Plus.
You also must maintain a daily balance above $0, keep your account in excellent standing, and spend $500+ a month with your North One Mastercard® Small Business Debit Card. Best Business Savings Accounts
This account also has the usual features you’d expect in a top-notch business checking account:
- Online banking
- Free ATM withdrawals
- Free online bill pay
- Mobile cheque deposits
4. Fidelity Business Account
The Fidelity Business Account isn’t technically a bank account – it’s a broking account. However, you can open this broking account in your business’s name, and you can invest in the Fidelity Money Market Fund (as well as just about any other investments you want).
The Fidelity Money Market Fund (SPRXX) currently yields 3.38% APY.
This account has no minimums or annual fees and charges the same commissions as a regular broking customer.
5. Schwab Small Business Account
The Schwab Small Business Account is very similar to the Fidelity account mentioned above, except its offered by Charles Schwab.
Inside the Schwab Small Business Account, you can invest in Schwab’s Prime Money Fund (SWVXX), which is currently yielding 3.49% APY.
Note: They don’t advertise this on their website, but after doing some due diligence, Schwab does have a $250,000 minimum to open their Schwab Organisation Account. I wish they would make this more clear for business owners. Best Business Savings Accounts
6. Navy Federal Credit Union Business Money Market
The Navy Federal Credit Union Business Money Market is one of the best business savings products available if you qualify to be a member of the Navy Federal Credit Union.
This account is a basic business money market account with online banking, mobile check deposits and more.
The interest it pays is decent – starting at 0.85% APY. You must maintain at least $2,500 to earn interest on your account.
Business Savings Account Alternatives
While there are business savings accounts and money market accounts for businesses, sometimes it makes sense to go with savings account alternatives.
We already mentioned a couple in this article – a high-yield checking account and a business broking account.
The key is to simply open an account in the name of your business and use your business’s EIN.
What You Need In A Business Savings Account
You could find yourself needing or wanting a business savings account for a few reasons. Usually, it’s because you have cash inside your business checking account and hate seeing it earn 0% interest. If you’re going to keep your money in your business, you want to at least see it earn something. Best Business Savings Accounts
But why not simply take a distribution and put it in your personal account? You may be saving it for a bigger purchase, future expenses, a business emergency fund, or simply to keep your business well capitalised.
To be one of the best business savings accounts, we put the following criteria in place:
- No Monthly Maintenance Fees: This is a big one. All of the accounts we consider must not charge a monthly maintenance fee or at least have an easy way to waive it.
- No Or Low Monthly Balance Required: You shouldn’t have to have huge amounts of money to waive fees or qualify for a business savings account. We only look for banks that don’t have a monthly minimum balance requirement, or if they do, it’s incredibly low.
- Awesome Online Access: The best business savings accounts will also have awesome online access, a fantastic app or mobile site, and be accessible anywhere. Best Business Savings Accounts
Tips To Maximize Your Business Savings
Lots of businesses have cash that is lying idle until it’s needed. For example, maybe you run payroll near the end of the month, but you may have enough cash for that for several weeks before you pay it out. That money could be generating income for your business!
That’s the value of a high-interest business savings account or a business money market account.
I strongly suggest that you consistently park any extra cash into a business savings account to earn money. Even better if your account is linked to your business checking account. Then you can instantly transfer money as needed, and you can also earn interest when you do not need to pay bills.
Second, consider a reputable business credit card. By charging everything possible to a business credit card, you can float payments out an additional 30-60 days. During that time, you could be earning interest on your savings before paying the credit card. As we mentioned above, you could earn $333 on every $100,000 in savings per month! Best Business Savings Accounts
If you float a business credit card for two months, that’s an extra $800 in your pocket!
Why Should You Trust Us?
I have been writing and researching banking and personal finance products since 2009. At The College Investor, we’ve been comparing and reviewing banks since 2018, and track the best banks for savings and money market accounts daily from a list of over 50 major banks and credit unions.
We are also small business owners, and finding bank accounts that match our needs has been a challenge – especially when it comes to business savings accounts. That’s what led us to review the best business banks and share those with you.
Furthermore, our compliance team reviews our rates every weekday to ensure that we are accurately showing the correct rates and terms so you can make an informed decision about where to open a bank account.
Final Thoughts
Hopefully you can see that there are excellent options for a business savings account or a money market account for businesses. Plus, you can also check out out list of the best new business bank account offers and promotions to see if you can get paid to open a new account! Best Business Savings Accounts
You don’t have to pay fees to open a business account; you just need to choose a good bank or broking.
Methodology
The College Investor dedicates itself to assisting you in making well-informed decisions on intricate financial matters, such as identifying the optimal business savings account. We do this by providing unbiased reviews of the top banks and savings accounts for our readers, and then we aggregate those choices into this list.
We have picked business savings and money market accounts based on our opinions of how easy they are to use, their costs and fees, any interest rates and bonuses provided, and a variety of other factors. We believe that our list accurately reflects the best business savings accounts in the marketplace for side hustlers, small business owners, and freelancers. Best Business Savings Accounts