At a Glance: Our Top 3 Picks
Different businesses need different accounts. Here is the right one for each common situation.
Axos Bank
The highest FDIC-insured rate here, with no minimum, no monthly fee, and no activity hurdles. If your business cash sits under the $250K FDIC cap, nothing on this list beats it.
Open Account →Live Oak Bank
Lower rate, but ICS sweep coverage insures up to $10 million, far past the standard $250K FDIC cap. No minimum, no fees. The safe home for large cash reserves.
See Live Oak →Mercury Treasury
Money market fund yield for cash-rich businesses. Requires $250K balance, pays a 0.15% annual fee, and is not FDIC insured. Best for VC-funded startups parking runway.
See Mercury →
Under $250K in business cash: Axos wins. Highest insured rate (3.60%) with zero minimums, fees, or hurdles. Over $250K: Live Oak wins. Its ICS sweep insures up to $10 million, which Axos cannot match. $250K+ and comfortable outside FDIC: Mercury Treasury pays up to 4.47% in a money market fund.
Full Comparison Table
Rates verified May 2026. APYs are variable and subject to change. Ranked by APY (highest first).
| Bank | APY | Min. Open | Monthly Fee | FDIC | Apply |
|---|---|---|---|---|---|
|
Mercury Treasury Highest yield |
Up to 4.47% | $250,000 | 0.15%+ AUM | Not FDIC | Details |
|
First Internet Bank MM |
3.64% / 2.94% | $100 | $5 (waived $4K avg) | $250K | Details |
|
Axos Business Premium Best overall |
3.60% | $0 | $0 | $250K | Details |
|
Relay (Scale plan) |
3.00% | $0 | $90 (Scale) | $3M sweep | Details |
|
Bluevine Premier |
3.00% | $0 | $95 (waivable) | $3M sweep | Details |
Live Oak Bank Best $250K+ |
2.85% | $0 | $0 | $10M ICS | Details |
|
nbkc Business MM |
2.75% | $0 | $0 | $250K | Details |
In-Depth Reviews
Detailed analysis of each account, including pros, cons, and the kind of business it fits best.
★ Best Overall
The highest FDIC-insured APY on a pure business savings account at 3.60%, with no minimum to open, no monthly fee, and no activity hurdles. Flat rate on balances up to $5 million. For business cash under the $250K FDIC cap, this is the strongest combination of rate and simplicity in our review.
- Highest FDIC-insured APY for pure business savings (3.60%)
- No minimum, no monthly fee, no activity requirements
- Flat rate on balances up to $5 million
- Up to $600 bonus (code SBB600, through Jan 31, 2027) if you bundle with Axos Basic Business Checking
- FDIC coverage stops at the standard $250K (no sweep extension)
- Mixed Trustpilot reviews on customer service
- Online only, no physical branches
For most businesses, this is the pick. You get the top insured rate with the same zero-minimum, zero-fee simplicity as Live Oak, plus 75 basis points more yield. On a $100K balance that is an extra $750 a year for doing nothing different. The honest caveats: customer service reviews are mixed, and coverage stops at the standard $250K. If your balance runs above that, Live Oak's $10M ICS coverage is the better home.
Best for $250K+ Balances
2.85% APY with no minimum, no monthly fee, and no activity requirement. The standout feature is insurance: ICS sweep coverage stacks FDIC protection up to $10 million, which nothing else on this list matches. The right home for large cash reserves that have outgrown one bank's $250K limit.
- ICS sweep coverage insures up to $10 million at no extra cost
- No minimum balance to open or maintain
- Zero monthly fees, no activity requirements
- Live Oak is the #1 SBA 7(a) lender in the US (real bank, not a fintech)
- Award-winning customer service from a small-business-focused bank
- Axos pays 75 basis points more (3.60% vs 2.85%)
- ICS enrollment requires a $350,000 minimum balance
- No physical branches (online only)
- No business checking account to pair with savings
Pick Live Oak when your cash exceeds the $250K FDIC cap. Its ICS sweep insures up to $10 million (enrollment requires a $350K minimum balance), and it is a real small-business bank with a strong service reputation. But if your balance sits under $250K, you are giving up 0.75% for extra insurance you cannot use. On $100K that is $750 a year. Under the cap, Axos is the better deal.
Best for $250K+ Cash
Money market fund yield for cash-rich businesses. Up to 4.47% APY but requires a $250,000 minimum balance to qualify and pays an annual fee of 0.15% AUM. Not FDIC insured (held in SEC-registered money market funds).
- Highest yield in this review (4.47%)
- Pairs with Mercury Business Checking
- Best for VC-funded startups parking burn capital
- Not FDIC insured (money market fund)
- 0.15% annual fee shaves your effective yield
- $250K minimum makes it inaccessible for most
Only relevant if you have $250K+ in operating cash and you understand this is a money market fund, not a savings account. For VC-backed startups parking runway, the higher yield is worth the lack of FDIC. For everyone else, Axos under $250K or Live Oak above it.
Best for Profit First
Up to 20 savings accounts under one business banking login. 3.00% APY on the Scale plan ($90/mo). Free Starter and mid-tier Grow plans available at lower APYs. FDIC sweep coverage up to $3 million via Thread Bank.
- Open up to 20 individual savings buckets (Profit First friendly)
- FDIC sweep coverage up to $3 million
- Built-in QuickBooks and Xero integrations
- 3.00% APY requires the $90/month Scale plan
- Lower plans (Starter, Grow) pay 1.11% and 1.75%
- Not a bank itself; banking partner is Thread Bank
Only worth the Scale plan if you have $50K+ in savings and use the Profit First method. At lower balances, the $90/mo fee cancels the APY advantage. For everyone else, the Standard Relay plan is great as a free checking complement and your savings earn more at Axos.
Best Checking + Savings Combo
Pairs business checking with high-yield savings at 3.00% APY on your full balance. Requires either $100K average balance OR $5K card spend, and pays a $95 monthly Premier fee that is waivable when you hit both hurdles.
- 3.00% APY on entire balance, not capped
- Combined checking + savings in one platform
- FDIC insured up to $3M via sweep network
- Unlimited transactions and unlimited transfers
- $100K average balance + $5K card spend to waive fee
- $95/mo Premier fee if you miss the hurdles
- APY drops significantly on the free Standard tier
Worth it only if you reliably hit both the $100K average balance and $5K monthly card spend. If you do, you get a great combined account. If you do not, the fees eat your yield. Axos gets you a higher rate with none of the hurdles.
Closest Comparable
2.75% APY with no minimum, no fees, no activity requirements. The closest comparable to Live Oak in the market. Live Oak wins by 10 basis points and offers higher FDIC sweep coverage.
- No minimums or fees, just like Live Oak
- Pairs with nbkc Business Checking
- 10 basis points lower APY than Live Oak (2.75% vs 2.85%)
- Standard $250K FDIC limit (no sweep extension)
Solid honorable mention. Same simplicity profile as Live Oak with a slightly lower APY and smaller FDIC ceiling. If you already use nbkc Business Checking, the savings account is a fine pair. Otherwise Axos pays more with the same simplicity, and Live Oak insures more.
Best for $5M+ Jumbo
3.64% APY on jumbo balances above $5 million, 2.94% on standard. $5 monthly fee (waived with $4,000 average balance). Strong pick only if you are parking $5M+; the standard tier trails Axos and adds small hurdles Axos does not have.
The jumbo tier (3.64%) is excellent, but most businesses fall into the standard tier (2.94%), which edges Live Oak on rate yet still trails Axos by 66 basis points while adding a $100 minimum and a $5 fee to manage. Use it only if you have $5M+ to park or you specifically want a regional online bank.
We reviewed 10 business savings accounts and money market accounts available to US small businesses. Rankings prioritize APY, fees, minimum balance requirements, FDIC insurance, and simplicity (zero activity hurdles). This comparison is independent and we are not compensated by any bank listed. Rates were re-verified May 14, 2026 directly against each bank's website.
