business savings account

Compare high-interest business savings accounts

Information verified correct on October 22nd, 2016

Boost your business bank balance with a high-interest business savings account.

Whatever business you’re in, finding the most effective and affordable way to manage your finances is crucial. And when you’re a sole trader, a small business person or a business owner, financial strength is important for the survival of your business. That’s why you should compare high-interest business savings accounts to find the best one to help you grow your business’s bank balance.

Compare business savings accounts

Use our comparison tool below to find a business savings account to suit you.

Rates last updated October 22nd, 2016
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
RaboDirect Business PremiumSaver
Ongoing, variable 2.00% p.a. when you link to a RaboDirect everyday business bank account and deposit $2,000+ each month. Available on balances up to $250,000.
2.00% 0.65% 1.35% $0 $0 / $0 Open More
RaboDirect Business High Interest Savings Account
Introductory rate of p.a for 4 months, reverting to a rate of 1.80% p.a. Available on balances below $250,000
2.25% 1.80% 0.45% $0 $0 / $0 Open More
Rates last updated October 22nd, 2016
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
ANZ Business Online Saver
Introductory interest rate of 1.60% p.a until 31st August 2016 reverting to a rate of 0.95% p.a. Must have a minimum of $5,000 to earn interest.
1.60% 0.95% 0.65% $0 $0 / $5,000 More
AMP Bank Business Saver Account
Ongoing, variable 2.30% p.a. when you link to a transaction account in the same name. Available on the entire balance.
2.30% 2.30% 0.00% $0 $0 / $0 More
Commonwealth Bank Business Online Saver
Ongoing, variable 0.95% p.a. when you link to Commonwealth Bank Premium Business Cheque Account or Business Transaction Account.
0.95% 0.95% 0.00% $0 $10,000 / $0 More
Citibank Ultimate Business Saver
An at-call savings account that offers a competitive interest on business savings. Can be opened for trust funds or a DIY Super Fund.
1.90% 1.90% 0.00% $0 $10,000 / $0 More
ING DIRECT Business Optimiser
Introductory rate of 2.50% p.a. for 6 months, reverting to a rate of 1.60% p.a. Available on balances below $1,000,000.
2.50% 1.60% 0.90% $0 $0 / $0 More

What is a high-interest business savings account?

The name “high-interest business savings account” tells you pretty much everything you need to know. Designed for business customers only, these accounts pay a high rate of interest on your savings to help you grow a larger balance as quickly as possible. High-interest business savings accounts allow you to save money for whatever purpose your business may need. You may want to save money to fund future equipment purchases, pay off upcoming tax bills or simply generate a strong financial base for your business.

How do high-interest business savings accounts work?

High-interest business savings accounts allow you to earn interest on your balance at a much higher rate than on a business transaction account. Although the interest rates available typically aren’t as high as the interest rates offered on personal savings accounts, you can still grow your business savings quickly using a dedicated business savings account. There are several different types of high-interest business savings accounts available, depending on your needs, including:

  • Online business savings accounts. These tend to pay a high rate of interest and allow you to manage and easily access your funds online.
  • Business cash management accounts. A cash management account allows you to invest your funds and earn a high rate of interest, but also access your funds immediately for any expenses that arise.
  • Business notice saver accounts. Notice saver accounts allow you to earn an even higher rate of interest than online savings accounts, but you will need to give notice of your intent to withdraw funds a certain period of time before you can actually do so. This notice period could be 90, 60 or 30 days.
  • Business term deposits. These accounts allow you to deposit money for a fixed period and earn a fixed interest rate.

If you’re looking for a business savings account that pays a high rate of interest but also allows instant and easy access to your funds, an online business savings account will typically be your first pick. These accounts allow you to earn maximum interest on every dollar you deposit, and often don’t have any ongoing account-keeping fees to worry about. Online business savings accounts are offered by all major banks in Australia, including the Big Four, as well as by online-only banks such as ING Direct and RaboDirect.

What are the good points and bad points of high-interest business savings accounts

The good points

  • You can earn maximum interest. You can use a high-interest business savings account to make your money work harder for you and boost your business’s finances.
  • There are usually no ongoing fees. Many high-interest business savings accounts do not charge any ongoing monthly service fees, ensuring that more of your money is put towards saving for the future of your business.
  • You get easy and flexible access to funds. High-interest business savings accounts offer quick and easy access to your funds online, allowing you to take care of expenses or investment opportunities as they arise.

The bad points

  • Beware of the terms and conditions. Make sure you’re aware of any terms and conditions that apply to your account, for example, minimum balance requirements or any limits on the number of withdrawals you can make per month.

Who offers high-interest business savings accounts?

The table below outlines the features of some popular account options offered to Australian businesses by a number of Australian banks.

AccountInterest RateFeatures
AMP Business Saver Account2.30%
  • No monthly fees
  • No minimum deposit or balance
  • 24/7 access to your money via phone or Internet banking
ME Bank Business Online Savings Account2.00%
  • 24/7 access to funds via your linked business everyday transaction account
  • No account-keeping fees
  • No minimum balance
ING Direct Business Optimiser1.60%  (with a welcome rate of 2.50% for the first 6 months)
  • No hidden charges or minimum balance requirements
  • 24/7 access via online, phone and mobile banking
  • Up to four people can access your account
RaboDirect Business High Interest Savings Account1.80% (with an introductory rate of 2.25% for the first 4 months)
  • Linked to your everyday business bank account
  • Easy online access to your money 24/7
  • No fees and no minimum balance
RaboDirect Business Notice Saver31 days: 2.35% p.a. 60 days: 2.40% p.a. 90 days: 2.10%  (on balances up to $250,000)
  • No fees, no minimum balance
  • No fixed investment term
  • Must schedule transfers and wait  the relevant notice period
Westpac Business Cash Reserve0.70% (on balances of $10,000 or more)
  • No monthly service fee
  • 24/7 access to funds through Westpac online, mobile and tablet banking, and Westpac Business Telephone Banking
  • Must have a Westpac business transaction account
Suncorp Business Saver Account1.90%
  • Unlimited fee-free electronic deposits and transactions between Suncorp accounts
  • No monthly account-keeping fees
  • Fix the interest rate on a portion of your balance for a set period
CommBank Business Online Saver0.95% (on balances of $10,000 or more)
  • No fees
  • Instant access to your funds via phone and online banking
  • Must be linked to a Commonwealth Bank Business Transaction Account or Premium Business Cheque Account

How do I compare high-interest business savings accounts?

Make sure to consider the following features when working out which high-interest business savings account is right for you:

  • Look for a high interest rate. The higher the interest rate, the quicker your savings balance can grow. Shop around for the account that offers the best interest rate, but make sure there are no exorbitant fees or restricting terms and conditions attached.
  • There are no account-keeping fees. Do your research to find out what fees and charges apply to the account. Consider monthly fees, annual fees, withdrawal fees and other charges that may apply when you access your money.
  • The terms and conditions are easy to follow. Check the fine print to see whether there are any terms and conditions attached to the account. For example, you may need to keep the account balance above a minimum level, or you may only be allowed to make a limited number of withdrawals each month.
  • You get flexible access to your business funds. Consider how easy it will be to access the funds in your account if an emergency expense arises. Can you withdraw the funds without incurring hefty fees? Can you access the money immediately or do you have to wait a certain period of time? Is there a cheque book available if needed?

High-interest business savings accounts can help you strengthen the financial position of your business and prepare for a secure financial future. Start comparing high-interest business savings accounts at to find the right one for your needs.

Shirley Liu

Shirley is's publisher for banking and investments. She is currently studying a Masters in Commerce (Finance) and is the author of hundreds of articles. She is passionate about helping Aussies make an informed decision, save money and find the best deal for their needs.

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