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- You can open high-yield business savings accounts at banks or credit unions.
- Several financial institutions offer business bank accounts paying 4% APY or more.
- You may need to maintain balance requirements or fulfill certain activities to earn the highest APY on some accounts.
Many banks and credit unions offer business bank accounts pay earn interest. Whether you're interested in opening a business savings or business money market account, we've compiled a list of some of the most competitive business banking rates right now.
8 high-yield business savings accounts
The following list includes eight business bank accounts offering at least 4% APY. Some are savings accounts; others are money market accounts, which are like savings accounts but may include additional features like ATM cards or paper checks.
We've covered accounts at brick-and-mortar banks, online banks, and credit unions. Credit unions have membership eligibility requirements. That said, we've selected credit unions anyone can join, regardless of where you live in the United States.
If you're interested in a business checking account that pays interest, BlueVine is our top high-yield pick in our best free business checking accounts guide.
| Financial institution | Type of bank account | APY (Annual Percentage Yield) | Requirements to earn highest APY |
| First Internet Bank of Indiana | Business Money Market Account | 3.45% to 5.46% | Maintain a daily balance above $5 million |
| Pacific Western Bank | Business Savings Account | 5.15% | Deposit $5,000 or more in new money, maintain $5,000 balance |
| Premier Members Credit Union | Business Money Market Account | 0.50% to 5.00% | Maintain $2,000 or less in your account |
| U.S. Bank | Business Money Market Account | 0.05% to 4.60% | Open a new account and have an account balance between $25,000 and $3 million |
| Prime Alliance Bank | Business Savings Account | 3.85% to 4.25% | Maintain $200,000 or more in your account |
| Consumers Credit Union | Business Money Market Account | 0.00% to 4.13% | Have a minimum daily balance of $500,000 or more |
| Nationwide | Business Savings Account | 4.01% | Open an account with $5,000 or more |
| Live Oak Bank | Business Savings Account | 4.00% | Open an account with $0.01 or more. |
What to look for in business savings accounts
When you're comparing business savings accounts, you'll want to consider more than just their interest rates. Here are a few other features to consider when opening up a business bank account:
- Monthly bank maintenance fees: Financial institutions may charge a fee if you don't maintain a certain account balance or fulfill certain monthly transaction requirements. If you want to avoid fees altogether, online banks may have more appealing options than brick-and-mortar banks because they often have accounts that do not charge any monthly fees.
- Opening deposit requirements: A minimum opening deposit is how much money you'll need to open an account. Some business bank accounts do not have a minimum opening deposit requirement, though.
- Online/mobile banking: If you're an avid mobile app user, review the mobile app ratings and reviews of a particular financial institution before opening an account. Also, if you are banking with an online-only financial institution, check the customer support hours and availability methods.
- Additional features offered: One feature that distinguishes money market accounts from savings accounts is that the former may offer debit card or check-writing privileges.
- FDIC/NCUA insurance: Business bank accounts are federally insured up to $250,000 per depositor, per account category. If you plan to deposit more than $250,000 in an individual account, there are ways to keep your money federally insured. You can choose to spread your money across multiple financial institutions or find an institution that's part of the IntraFi Network (a program that spreads your money across other FDIC-insured financial institutions in the network).
- Overall banking experience: Think about whether you plan to open other types of business bank accounts or products, like a business line of credit or a business credit card.
Business savings account APY FAQs
Does a business savings account earn interest?
Yes, many business savings accounts can earn interest. Most financial institutions offer business savings or business money market accounts.
What bank has the highest interest rate for business accounts?
First Internet Bank of Indiana offers the highest interest rate for a business bank account. The First Internet Bank of Indiana Business Money Market Account pays 5.46% APY for balances above $5 million. The highest interest rate for a business bank account with a lower account balance is Pacific Western Bank, which pays 5.15% APY on its business savings account.
Can a business have a high-interest savings account?
Any business owner can open up a high-interest savings account. You might consider opening a high-yield business savings account if you are saving for a specific business goal or want to have an account for emergency reserves.
Are business savings accounts taxed?
Yes, interest earned from business savings accounts is taxable. You could pay a penalty from the IRS if you don't report it.
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