Business savings accounts rates
Best high-yield savings account
Best High-Yield Business Savings Account of November 2023
First Internet Bank: Money Market Savings - 5.46% APY.Live Oak Bank: Business Savings Account - 4.00% APY.Prime Alliance Bank: Business Money Market - 4.25% APY.Prime Alliance Bank: Business Savings - 4.25% APY.nbkc bank: Business Money Market Account - 2.25% APY..Best savings account
A business savings account works in the same way as a personal savings account.
You can earn competitive business savings account interest rates on cash deposits, but the funds are only used by your company, not an individual..
Can a business have a high interest savings account?
With a business money market account, savers will typically earn a higher interest rate than with their standard business savings account since the money is invested.2 days ago.
Why do savings accounts have interest rates?
Banks offer them as a means of enticing depositors to provide extra cash so bankers can make loans.
When banks want extra deposits, they can raise the interest rate offered on savings accounts to attract extra cash..
Are business savings accounts a good investment?
Business savings accounts allow a business owner to keep cash reserves within easy access to use as needed.
They also let you take advantage of interest earnings, putting your money to work instead of allowing it to just sit there in a checking account.
×There are several options for business savings accounts with competitive rates. Bankrate recommends Live Oak Bank Business Savings, Axos Bank Business Premium Savings, Chase Business Total Savings, and First Internet Bank of Indiana Money Market Savings. NerdWallet recommends business savings accounts with an annual percentage yield of at least 1%, which is well above the national average. Small Business Bank, Lili, First Internet Bank, and Axos Bank are among the best options for business savings accounts. Big national banks like Chase and Bank of America offer much lower rates, with just 0.01% APY on their respective business savings accounts.
