Editor’s note: This is a recurring post with regularly updated account details.
The best business savings accounts help your money grow while keeping your funds accessible when you need them. With competitive APYs, low fees, and flexible access, the right account can turn idle cash into a valuable part of your business strategy.
In this guide, I break down the best business savings accounts based on interest rates, fees, and overall usability. Whether you are looking for a high-yield business savings account, a low-fee option, or a trusted bank to manage your funds, these picks can help you maximize your business savings and make smarter financial decisions.
After reviewing dozens of the top business savings accounts available today, here are my top six picks for the best small business savings accounts:
| Provider | Best for | Monthly fee |
|---|---|---|
| Axos Bank | Best overall business savings account for yield and digital convenience | $0 |
| Live Oak Bank | Best business savings for high APY and no monthly fees | $0 |
| Capital One | Best business savings for high APY and no monthly fees | $3 waivable |
| Relay Financial | Best business savings with automated cash management tools | $0 |
| Truist Bank | Best business savings for full-service banking and branch support | $5 waivable |
| U.S. Bank | Best traditional bank with in-person banking options | $5 waivable |
To build this list of the best banks for ecommerce businesses, I focused on financial institutions and fintech platforms that offer the tools online sellers need to manage revenue, expenses, and business growth efficiently. My goal was to identify providers that deliver the best combination of affordability, digital functionality, ecommerce compatibility, and scalability for businesses selling products online.
Each provider was evaluated using consistent criteria that reflect how ecommerce business owners compare banking options, including the following categories:
Fees and overall value: I compared monthly maintenance fees, minimum balance requirements, transaction limits, and other account costs to determine overall affordability and long-term value.
Ecommerce integrations and compatibility: I evaluated each provider’s ability to connect with popular ecommerce platforms, payment processors, accounting software, and business tools used by online sellers.
Core banking features: I reviewed essential capabilities such as business checking accounts, APYs, cash management tools, debit cards, wire transfers, and payment services that support day-to-day operations.
Ease of use: I considered account setup, online and mobile banking experience, automation features, and how intuitive each platform is for managing business finances.
Scalability and business support: I assessed features that help businesses grow, including multiple accounts or subaccounts, team access controls, expense management tools, and access to financing when available.
Customer support: I looked at service channels, responsiveness, and the level of support available to business owners across different account tiers.
When available, I explored provider websites, product demos, and account features to better understand the user experience and how effectively each option supports the unique needs of ecommerce businesses.
- Best business savings accounts at a glance
- Axos Bank: Best overall business savings account for yield and digital convenience
- Live Oak Bank: Best business savings for high APY and no monthly fees
- Capital One: Best business savings for small and growing businesses
- Relay: Best business savings with automated cash management tools
- Truist: Best business savings for full-service banking and branch support
- U.S. Bank: Best traditional bank with in-person banking options
- How I evaluated the best business savings accounts
- What to consider when choosing the best small business savings account
- What you need to open a small business savings account
- Alternatives to the best small business savings accounts
- Frequently Asked Questions (FAQs)
- Bottom line
Best business savings accounts at a glance
| APY | Monthly fee | Minimum opening deposit | Savings promo | |
|---|---|---|---|---|
| Axos Business Premium Savings | 3.60% | $0 | $0 | Bundle with a checking account and unlock a bonus of up to $600 using promo code SBB600 |
| Visit Axos Bank | ||||
| Live Oak Bank Business Savings | 2.85% | $0 | $0 | N/A |
| Visit Live Oak Bank | ||||
| Capital One Business Advantage Savings | 3.50% | $3 waivable | $0 | 3.50% interest rate is guaranteed for three months from account opening |
| Visit Capital One | ||||
| Relay Automated Savings | 2.68% | $0 | $0 | N/A |
| Visit Relay Financial | ||||
| Truist Simple Business Savings | Not Disclosed | $5 waivable | $100.00 | N/A |
| Visit Truist Bank | ||||
| U.S. Bank Basic Business Savings | Based on zip code | $5 waivable | $100 | $200 by depositing $10,000 and maintaining it for 60 days |
| Visit U.S. Bank | ||||
Axos Bank: Best overall business savings account for yield and digital convenience
- Eight interest rate tiers up to $5M
- Business deposit accounts are FDIC-insured up to $250,000
- Option to expand FDIC coverage to $265 million through Axos Bank Insured Cash Sweep through the IntraFi Network
- QuickBooks integration
- $600 bonus available with checking and savings bundle
- All-in-one mobile app
 | |
|---|---|
| Special offer | Bundle with a checking account and unlock a bonus of up to $600 using promo code SBB600 |
| Opening deposit requirement | None |
| Monthly maintenance fees | None |
| APY | 3.60% |
| Transaction limit before fees | 20 items, then 30 cents per item |
| Other standout features |
|
When to choose Axos Bank
- You want a free business savings account with a strong APY: Axos Bank’s Business Premium Savings account offers one of the best yields among online business banks, currently earning 3.60% APY. There are no monthly maintenance fees, no minimum opening deposit, and no balance requirement to earn interest. It’s a simple, digital-first account that helps your reserves grow without extra costs.
- You keep large balances and want full FDIC protection: Axos Bank partners with the IntraFi Network Deposits program to extend FDIC insurance coverage up to approximately $265 million per depositor, per ownership category. This added protection makes Axos an excellent option for businesses that need to safeguard high cash balances beyond the standard $250,000 limit.
- You want to take advantage of a welcome bonus: New customers can earn up to $600 when you bundle a new checking and a new savings account and meet qualifying requirements. To qualify, apply with promo code SBB600. The offer runs through June 30, 2026.
When to choose an alternative
- You prefer in-person banking or need regular cash access: Axos Bank is an online-only institution, which means you’ll handle all transactions digitally. If your business depends on visiting a branch, making cash deposits, or meeting with a banker in person, a traditional provider such as U.S. Bank or Truist may be a better fit. Both offer branch networks, business debit cards, and the convenience of local support alongside online tools.
Live Oak Bank: Best business savings for high APY and no monthly fees
- Add up to four additional signers
- Extended FDIC coverage if needed
- Robust online and mobile banking
- Interest compounded daily
- ACH deposits available immediately
- North Carolina-based customer service
- Commercial account options available
- Support available 8 a.m. to 8 p.m. EST
- High-interest tiered CDs available
 | |
|---|---|
| Special offer | None |
| Opening deposit requirement | $0 |
| Monthly maintenance fees | None |
| APY | 2.85% |
| Transaction limit before fees | Undisclosed |
| Other standout features |
|
When to choose Live Oak Bank
- You want a high-yield business savings account: Live Oak Bank offers one of the most competitive rates available for business savings, currently earning around 2.85% APY. In addition to its high-yield savings account, it also provides business certificates of deposit (CDs) with strong short-term rates.
- You prefer a fee-free, digital banking experience: Live Oak Bank is ideal for small businesses that want to earn interest without paying unnecessary fees. The account has no monthly maintenance fees, no minimum deposit, and starts earning interest with as little as one cent. You can apply and open your account entirely online in just a few minutes, and manage everything through the bank’s secure digital platform.
When to choose an alternative
- You need in-person cash deposits or branch access: Live Oak Bank is an online-only institution, so cash deposits and in-person banking are not available. If your business handles cash frequently, consider pairing your Live Oak savings account with a traditional bank checking account, or choose a provider such as U.S. Bank that offers a debit card and branch access for convenient cash deposits and withdrawals.
Capital One: Best business savings for small and growing businesses
- No minimum balance required to earn interest
- Large nationwide ATM network with MoneyPass and Allpoint
- Cash deposits up to $10,000 at no charge
- 24/7 access through online banking and mobile app
- FDIC coverage up to $250,000 per depositor
- Tiered rates up to $10M
 | |
|---|---|
| Special offer | 3.50% interest rate is guaranteed for three months from account opening |
| Opening deposit requirement | $0 |
| Monthly maintenance fees | $3 waivable |
| APY | $3.50% |
| Transaction limit before fees | Six withdrawals per month |
| Other standout features |
|
When to choose Capital One
- You want a business savings account from a well-known traditional bank: Capital One’s Business Advantage Savings is a strong choice if you want the backing of a major bank with the convenience of digital tools. You can open and manage your account entirely online while still having access to Capital One branches and 70,000+ fee-free ATMs nationwide.
- You want to earn competitive interest while keeping liquidity: Capital One offers a promotional 3.50% APY for qualifying balances, making it a good option for small business owners who want to earn interest without locking their funds into a CD. You can link your savings to a Capital One business checking account for seamless transfers and overdraft protection.
When to choose an alternative
- You need to manage larger balances with expanded FDIC coverage: Capital One provides standard FDIC insurance up to $250,000 per depositor. Businesses with higher cash reserves may prefer a provider that participates in an IntraFi Network Deposits or Insured Cash Sweep (ICS) program, such as Axos Bank or Live Oak Bank, which can extend coverage into the millions.
Relay: Best business savings with automated cash management tools
- Interest earned as soon as account is funded
- Tiered APY based on checking account
- Fully digital online platform
- FDIC insurance up to $3M through partner banks
- Automated transfers available from checking to savings accounts
- Interest calculated and credited monthly
 | |
|---|---|
| Special offer | N/A |
| Opening deposit requirement | $0 |
| Monthly maintenance fees | $0 |
| APY | 2.68% |
| Transaction limit before fees | Undisclosed for savings account |
| Other standout features |
|
When to choose Relay
- You want to automate transfers between checking and savings: Relay makes it easy to move money automatically between your accounts. You can create custom rules that transfer funds from checking to savings once your balance reaches a certain threshold. This helps you stay disciplined with savings and ensures your extra cash continues earning interest instead of sitting idle.
- You already bank with Relay and want to earn interest on reserves: If you have a Relay business checking account, a savings account is automatically created for you. You can open up to two savings accounts and earn up to 2.68% APY, depending on your plan. Interest is compounded daily and paid monthly, and the rate applies to the combined balance across both savings accounts. For businesses already using Relay’s digital platform, the savings account is a seamless way to earn passive income on idle funds.
When to choose an alternative
- You need direct cash access or external payment options: Relay’s savings account is designed to keep your reserve funds separate from daily spending. It cannot be linked to a debit card and does not support external payments through ACH, checks, or wires. You can only transfer funds internally to your Relay checking account. If you need a savings account that allows direct withdrawals, cash access, or external payments, consider a traditional option like U.S. Bank, which provides debit cards and ATM access for business savings accounts.
Truist: Best business savings for full-service banking and branch support
- Low opening deposit of $100
- Interest is compounded daily and credited monthly
- Robust online and mobile banking
- In-person banking available in 1,900 branches
 | |
|---|---|
| Special offer | N/A |
| Opening deposit requirement | $100 |
| Monthly maintenance fees | $5 waivable |
| APY | Not disclosed |
| Transaction limit before fees | First 20 deposited items and $5,000 cash at no charge, then $0.39 per item First six withdrawals at no charge, then $5.00 per withdrawal |
| Other standout features |
|
When to choose Truist
- You want a traditional business savings account with easy local access: Truist’s Simple Business Savings account is a solid option for business owners who value a physical banking relationship. You can open and manage your account online or visit one of Truist’s many branches across the Southeast and Mid-Atlantic. It’s ideal for small business owners who prefer in-person service or need the reassurance of a well-established regional bank.
- You want a dependable savings option for established businesses: Tech companies, retail operations, and professional service firms that already bank with Truist can use the Simple Business Savings account to build short-term reserves or set aside funds for taxes and future expenses. The account earns interest, allows up to 20 free deposits and $5,000 in cash deposits per month, and offers easy integration with Truist checking and online banking.
When to choose an alternative
- You prefer a fully digital banking experience: Truist’s Simple Business Savings account combines online tools with in-branch access, which is ideal for traditional banking customers. However, if your business operates entirely online and you want to open and manage accounts exclusively through a mobile or web platform, a digital provider such as Axos Bank or Relay may be a better fit.
U.S. Bank: Best traditional bank with in-person banking options
- Affordable opening deposit of $100
- Access to over 2,000 branches
- Large network of ATM with over 40,000 locations
- Easy access with online and mobile banking
- Account alerts for suspicious activity
- Automated transfers between accounts
- Option to upgrade to a higher-yield account
 | |
|---|---|
| Special offer | $200 by depositing $10,000 and maintaining it for 60 days |
| Opening deposit requirement | $25 |
| Monthly maintenance fees | $5 waivable |
| APY | Based on zip code |
| Transaction limit before fees | 25 free units |
| Other standout features |
|
When to Choose U.S. Bank
- You want a traditional bank with promotional interest offers: U.S. Bank is a great fit if you prefer a well-established financial institution with both branch access and occasional promotional APY offers for new business savings or money market accounts. It’s a dependable choice for business owners who value in-person support and want a full suite of banking services in one place. Currently, you can earn $300 when you open a new U.S. Bank Basic Business Savings account and complete qualifying activities, subject to certain terms and limitations. Member FDIC.
- You have enough funds to waive the monthly maintenance fee: The standard Business Savings account charges a small monthly fee, but it can be waived easily by maintaining a modest balance. This makes U.S. Bank ideal for businesses that keep at least $500 in savings or use multiple U.S. Bank accounts to meet the combined balance requirement.
When to Choose an Alternative
- You need a nearby branch, but do not live in a U.S. Bank state: U.S. Bank branches are located across 27 states
How I evaluated the best business savings accounts
To build this list of the best business savings accounts, I focused on banks and financial institutions most widely recommended for earning interest on business funds, along with newer digital banking options gaining momentum in the market. My goal was to identify accounts that offer the strongest combination of competitive APYs, low fees, and practical day to day usability for small business owners.
Each account was evaluated using consistent criteria that reflect how businesses compare banking products in real financial decisions, including the following categories:
- APY & earnings potential: I compared interest rates across accounts, including tiered APYs and balance requirements, to determine which options offer the best opportunity to grow your business savings.
- Fees & minimum requirements: I reviewed monthly fees, minimum balance requirements, and any hidden costs that could reduce your overall returns.
- Access & flexibility: I evaluated how easily businesses can access funds, including withdrawal limits, transfer options, and whether accounts integrate smoothly with checking accounts.
- Account features: I looked at additional features such as digital banking tools, cash management capabilities, and whether the account supports broader financial needs.
- Bank reputation & reliability: I considered the institution’s track record, FDIC insurance coverage, and overall trustworthiness as a long term banking partner.
- User experience: To validate real world performance, I incorporated customer feedback, ease of use, and overall satisfaction based on reviews and industry insights.
What to consider when choosing the best small business savings account
While I used our own criteria to select the best small business savings accounts for this list, here are some things you should review before making a selection:
1. Understand the types of savings accounts
Not every business savings account is the same. In addition to traditional business savings accounts, there are high-yield business savings accounts, business money market accounts (MMAs), and business certificates of deposit (CDs). Each type of account has slightly different rules and will earn you different rates of return.
See our guides comparing some of these account types to learn more:
2. Understand the fee structure and how it will apply to your business
Fees can vary widely in a business savings account. Here are some of the business bank account fees you may encounter:
- Monthly fees: Some business savings accounts charge a monthly fee to operate the account
- Minimum balance fees: Some accounts require you to keep a minimum balance in your account and may charge you a fee if you drop below that balance
- Transaction fees: This is the most important one to know. Even though federal transaction limits have been dropped, many banks still limit savings transactions. If you exceed those, you may pay penalty fees or have your account reclassified to a non-interest-bearing account.
3. Consider opening a savings account at the same bank as your business checking account
It isn’t required that you open a business savings account at the same bank that holds your business checking. However, there could be some advantages in doing that, such as
- Increased savings rate: You might get a boost in your savings rate by having a business checking account at the same bank.
- Faster transfers: If you are transferring money within the same bank, those transfers will likely be almost immediate. External transfers can take a couple of days.
- Growing a banking relationship: If you add banking products to an existing business checking provider, it will continue to grow that relationship, which can be beneficial as your business grows and needs financing or merchant service products.
For more information, see our guide on how to choose a bank for your small business.
What you need to open a small business savings account
The documents required to open a small business savings account are the same as for a small business checking account. Be sure to confirm whether you can open the account online or if you need to visit a branch to do so. Requirements may vary from bank to bank and depend on your business type, but they typically include the following:
- Employer identification number (EIN) or Social Security number if you’re a sole proprietor
- Fictitious business name certificate or doing-business-as (DBA) certificate
- Business formation documents
- Organization documents, including your ownership agreements
- Business licenses
- Government-issued photo ID, such as a passport or driver’s license
- Percent of ownership and annual gross revenue
See our guide on how to open a business bank account for details on the process.
Alternatives to the best small business savings accounts
- Bluevine: Best for those looking for an interest-earning, digital-only bank account.
- Earn up to 1.3% APY on balances up to $250,000 with Bluevine Standard Checking.
- Check out our Bluevine business checking review for more information.
- Grasshopper: Best for businesses looking for interest-earning business checking and cash back on debit card purchases.
- It offers up to 1.35% APY uncapped on business checking and unlimited 1% cash back on qualified purchases.
- Read our review of Grasshopper business checking to learn more.
- Mercury: Best for startups and high-growth companies with large cash reserves
- Mercury Treasury pays a high dividend through the Mercury Treasury program, with a balance of at least $250,000
Choosing one of these accounts would give you more freedom with fee-free transactions, making them two of the best small business checking accounts.
Our list of the best ways to earn interest for your business can help you grow the passive income from your funds.
Frequently Asked Questions (FAQs)
Can I open a business savings account online?
Yes. Many of today’s best business savings accounts, such as those from Axos Bank, Live Oak Bank, and Relay Financial, are fully digital. You can apply online in minutes, fund your account electronically, and manage everything through a mobile app or web portal.
What’s the difference between a business savings account and a business money market account?
Both accounts earn interest, but a business savings account usually offers simpler terms and fewer transaction features, while a money market account may include limited check or debit card access and slightly higher rates. If you need frequent transfers, a money market might be worth exploring.
How much should a small business keep in savings?
Aim to keep enough to cover three to six months of operating expenses. This reserve helps cushion against cash-flow interruptions, delayed client payments, or unexpected costs. Businesses with seasonal income may benefit from saving even more during peak months.
Are online banks safe for business savings?
Yes, as long as the account is FDIC insured. Both Axos Bank and Live Oak Bank are FDIC members, insuring deposits up to at least $250,000 per business owner per bank. Always confirm FDIC coverage and read the bank’s security disclosures before opening an account.
What’s the best business savings account for small or growing businesses?
Capital One and Relay Financial stand out for small and startup businesses. Capital One offers a straightforward account with branch support, while Relay provides flexible savings tools for cash flow tracking and automatic transfers.
Bottom line
A business savings account is an easy way to earn extra income on your company’s reserve funds while keeping your money accessible. Unlike money market accounts or CDs, which may limit withdrawals, a savings account provides flexibility for everyday business needs. Review the options above and choose the provider that best fits your goals, whether you value high yield, easy access, or full-service banking.
