Key takeaways
- FDIC national average savings rate: 0.38% (October 2026).
- Axos Business Premium Savings: 3.50% APY standard; new customers can get up to 3.91% for 6 months.
- Live Oak Business Savings: 2.75% APY on every dollar, no fees, no minimum.
- Capital One’s 3.50% is a 3-month promotion on balances of $10,000 to $10 million.
- On $250,000, 3.50% earns about $8,750 a year vs about $950 at the national average.
How we compared these accounts
Treasi compared high-interest business savings accounts available to US businesses using each bank’s published rates and terms, checked in November 2026, and the FDIC’s national average deposit rates published in October 2026. We show standard rates separately from promotions, and where a bank’s own information is inconsistent we say so. Rates on savings accounts are variable and can change at any time, so check the bank’s current rate before you open an account.
US business savings rates at a glance
| Account | Standard rate | Promotion | Monthly fee | Minimum to open |
|---|---|---|---|---|
| Axos Business Premium Savings | 3.50% APY (balances up to $4,999,999.99) | Up to 3.91% APY for 6 months for new customers who also open Basic Business Checking | $0 | $0 |
| Live Oak Business Savings | 2.75% APY on every dollar | None | $0 | $0 |
| Capital One Business Advantage Savings | Lower variable rate after the promotion | 3.50% APY for 3 months on $10,000 to $10 million; 0.25% below $10,000 | $3, waived with a $300 balance | Varies |
| Grasshopper Innovator Savings | Grasshopper states 3.00% APY on balances of $25,000 or more; its rate calculator shows 3.25% | Bonus offers for new clients | $0 | $100 |
| FDIC national average savings | 0.38% | — | — | — |
What your business could earn in a year
These figures use standard rates for a full year, before tax.
| Balance | At 0.38% (FDIC average) | At 2.75% (Live Oak) | At 3.50% (Axos) |
|---|---|---|---|
| $50,000 | About $190 | About $1,375 | About $1,750 |
| $250,000 | About $950 | About $6,875 | About $8,750 |
| $1,000,000 | About $3,800 | About $27,500 | About $35,000 |
Moving $250,000 from an account paying the national average to one paying 3.50% earns about $7,800 more a year for the same money.
Account by account
Axos Business Premium Savings: best standard rate
Axos pays 3.50% APY on balances up to $4,999,999.99, according to its published rates accurate as of 31 October 2026, with no monthly maintenance fee and no minimum opening deposit. New business customers who open Business Premium Savings together with Basic Business Checking can receive a boost to up to 3.91% APY for up to 6 months, subject to conditions such as maintaining a checking balance. The rate is variable and set at Axos’s discretion, and savings accounts can have transaction limits, so it suits reserves more than daily payments.
Live Oak Business Savings: simple, no-fee savings
Live Oak pays 2.75% APY on every dollar, with no monthly fee, no minimum opening deposit and interest from the first cent. Interest compounds daily. The account has no debit card or ATM access, so money moves by transfer, which makes it a good home for tax reserves and emergency funds. Live Oak lowered its rate from 2.85% in September 2026, a reminder that savings rates change.
Capital One Business Advantage Savings: a promotional rate from a national bank
Capital One offers a promotional rate of about 3.50% APY for the first 3 months (92 days) on balances of $10,000 to $10 million, with 0.25% on balances below $10,000. After the promotion, a much lower variable rate applies. The account has a $3 monthly fee, waived with a $300 balance. On $250,000, three months at 3.50% earns about $2,205, after which earnings fall to the standard rate.
Grasshopper Innovator Savings: for balances of $25,000 and up
Grasshopper is a chartered digital bank whose Innovator Savings money market account pays its top rate on balances of $25,000 or more. Its savings page states 3.00% APY at that level, while its rate calculator on the same page shows 3.25%, so confirm the current rate with Grasshopper. The account needs a $100 opening deposit and has no monthly fee.
Standard rates vs promotional rates
A standard rate applies on an ongoing basis. A promotional rate is temporary and often has conditions: a minimum balance, a new-customer requirement or a second account. Capital One’s 3.50% lasts 3 months; Axos’s boost lasts up to 6 months. To compare fairly, look at the rate your balance will earn after any promotion ends.
How business deposits are protected
FDIC insurance protects deposits at insured banks up to $250,000 per depositor, per insured bank, for each ownership category. Axos, Live Oak, Capital One and Grasshopper are FDIC-insured banks. Businesses holding more than $250,000 can spread cash across banks or ask about sweep programs that extend coverage across a network of banks.
How to choose
- Highest ongoing rate: compare standard rates first, then promotions.
- Access: check transfer limits and whether you need a debit card.
- Fees: confirm monthly fees and how to waive them.
- Balance tiers: make sure your balance qualifies for the advertised rate.
- Coverage: keep balances within FDIC limits or use a sweep program.
Common mistakes
- Leaving reserves in a checking account that pays nothing.
- Choosing a promotional rate without checking the rate after it ends.
- Assuming the top tier applies to a small balance.
- Holding more than $250,000 at one bank without checking FDIC coverage.
Providers that can help
Compare these providers, then request a free, no-obligation quote.
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$0 Monthly feeFAQs
What is the best business savings rate in the US?
Among the accounts Treasi compares, Axos Business Premium Savings has the highest standard rate at 3.50% APY (as of 31 October 2026), with new customers able to get up to 3.91% for 6 months. Rates change often, so compare current rates before opening an account.
What is the average business savings rate?
The FDIC’s national average savings rate was 0.38% in October 2026. It covers savings accounts generally, not only business accounts, but it shows how far below high-yield accounts typical rates are.
How much interest could $250,000 earn?
About $8,750 a year at 3.50% APY, about $6,875 at 2.75%, and about $950 at the 0.38% national average, before tax.
Is Capital One’s 3.50% business savings rate permanent?
No. It is a promotional rate for the first 3 months (92 days) on balances of $10,000 to $10 million, after which a lower variable rate applies.
Are business savings accounts FDIC insured?
Accounts at FDIC-insured banks are protected up to $250,000 per depositor, per insured bank, for each ownership category. Axos, Live Oak, Capital One and Grasshopper are FDIC-insured banks.
Do business savings accounts have fees?
Axos, Live Oak and Grasshopper charge no monthly fee on these accounts. Capital One charges $3 a month, waived with a $300 balance.
Can I use a business savings account for daily payments?
They are better for reserves. Savings accounts can have transaction limits, and some, like Live Oak’s, have no debit card, so keep operating cash in checking.
Sources: FDIC National Rates and Rate Caps (October 2026); Axos Bank business rates (accurate as of 31 October 2026); Live Oak Bank Business Savings page (November 2026); Grasshopper Innovator Savings page (APY as of 13 October 2026); Capital One Business Advantage Savings terms as reported by NerdWallet (November 2026).