Do business accounts earn interest

Business savings accounts—particularly high-yield business savings accounts—often require minimum deposits, minimum balances and limited withdrawals.
Business savings accounts are best when a business checking account has enough to cover expenses.
Funds in a savings account accumulate interest over time; money in a checking account will not.

You'll need business documentation and an opening deposit before you can open your business savings account.
Some business savings accounts require thousands as a minimum deposit, while others open accounts with $100 or less.

You could be making interest on your business' spare cash by moving it into a business savings account

Here is how they work and how to open one

When you own your own business, you want your money to work as hard as possible for you

Pretty much all types of business savings accounts earn you some interest based on your account balance (unlike most checking accounts)

But the amount of interest can depend on which type of savings account you use

A traditional savings account usually offers a relatively low interest rate (less than 0

05% isn’t unusual) and little flexibility

A business savings account, like a personal savings account, lets you earn interest on the funds you deposit – however the money is only used by the business rather than individuals

Business savings accounts could be a good idea for business owners who are able to put aside a sizable amount to earn a competitive interest rate on the balance