Your guide to comparing business savings accounts

Grow your surplus capital in an easy-to-manage high interest savings account.

A high interest savings account (HISA) for Australian business owners can help you store and grow extra working capital in a safe and secure way. This could give you the benefit of passively earning income just for keeping your money in the right account.

Designed specifically to help businesses of all sizes to save, an HISA is an account that is typically linked to the business transaction account. There is a lot to consider when choosing a business HISA that can make a big difference to the growth of your capital. Read on for tips on how to compare business savings accounts.

Business Savings Account Offer

AMP Business Saver Account

1.80 % p.a.

max rate

1.80 % p.a.

standard variable rate

Business Savings Account Offer

Bonus interest offer: Earn 2.25% for six months. T&Cs apply. Ongoing, variable 1.80% p.a. when you link to a transaction account in the same name. Available on balances of $2,000 or more.

  • Maximum Rate: 1.80% p.a.
  • Standard Variable Rate: 1.80% p.a.
  • Monthly fees: $0.00
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Compare business savings accounts

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

Rates last updated July 19th, 2018
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
NAB Business Everyday Account ($0 Monthly Fee Option)
$0 / $0
Help manage your business finances.
$0 monthly account fee.
No ATM fees at more than 3,000 NAB and rediATMs, and unlimited standard NAB electronic transactions. Tap and pay with your NAB Business Visa Debit card and NAB Pay for Android smartphones. Apply online.
AMP Business Saver Account
$0 / $0
Bonus interest offer: Earn 2.25% for six months. T&Cs apply.
Ongoing, variable 1.80% p.a. when you link to a transaction account in the same name. Available on balances of $2,000 or more.
BankSA Business Access Saver
$0 / $0
Ongoing, variable 0.50% p.a. when you link to a business transaction account. Available on the entire balance.
Bank of Melbourne Business Access Saver
$0 / $0
Ongoing, variable 0.50% p.a. when you link to one of the Bank of Melbourne’s eligible business transaction accounts. Available on the entire balance.
ANZ Business Online Saver
$0 / $0
Ongoing, variable rate of 0.40% p.a. on balances more than $5,000.
Commonwealth Bank Business Online Saver
$0 / $0
Ongoing, variable 0.50% p.a. when you link to Commonwealth Bank Premium Business Cheque Account or Business Transaction Account and maintain a balance of $10,000 or more.
Citibank Ultimate Business Saver
$10,000 / $0
Ongoing, variable rate of 1.65% p.a. on balances more than $10,000
ING Business Optimiser
$0 / $0
Introductory rate of 1.80% p.a. for 6 months, reverting to a rate of 1.50% p.a. Available on balances below $1,000,000.

Compare up to 4 providers featured business savings accounts

Product nameMaximum interest rate p.aInterest rate conditions
ING Business Optimiser1.80%Valid for the first 6 months only on balances up to $1 million (conditions apply)
BOQ Business Websavings Account2.25%Valid for the first 4 months only between $10,000 to $5 million (conditions apply)
AMP Business Saver Account1.80%Interest is earned on balances of $2,000 or more
ME Business Online Saving Account1.75%No conditions - interest applies to whole balance
Citibank Ultimate Business Saver1.65%Interest is earned on balances between $10,000 to $999,999.99

What is a business savings account?

As the business owner, you can easily transfer extra money into a savings account where it earns interest. This could be a good option if your business gains periodic surpluses of cash, and needs a place to keep it safely until a large purchase comes up.

To make it even more enticing, most business savings accounts work on a threshold system, so the more money you have in there, the more interest you receive.

How do I choose the best business savings account?

The best business savings account for you will be one that matches the financial needs and goals of your business. For example, are you looking to raise short-term capital or planning for a long-term investment strategy? Will you need to be able to access your funds regularly or will you be happy to lock them away for a fixed term?

Once you know what features are important you can start shopping around and comparing business savings accounts. Look at the interest rates on offer, the fees charged, account access requirements and any other features. You can start comparing a wide range of business savings accounts today at

How do I find the business savings account with the highest interest rate on your site?

You can use our comparison table above to view current interest rates available with each account. However, remember to consider all the fees and features of an account before deciding if it’s right for your business.

How do I compare business high interest savings accounts?

In order to maximise your business saving opportunity with a business savings account, you will want to compare the different features available across various Australian financial institutions. This will help in determining which account will work best with your specific business structure. Look for and compare the following:

  • Check the fees. A business HISA may not charge you any fees, while with others there is a monthly account keeping charge.
  • Is there a limit to how many transactions you can make per month? If your business requires that you are constantly adding or withdrawing to your HISA look at the number of free transactions allowed per month with each of the accounts you are comparing.
  • How do interest rates compare? Interest rates vary from bank to bank, with some even offering a higher introductory rate for a few months following the opening of an HISA for business purposes.
  • How often and how easily can you access your funds? The ease in which a business can access their money is very important when considering a business HISA. Some will have online access where funds need to be first transferred to your business transaction account, while others may allow for debit card access.
  • Minimum balance requirements. With some business savings accounts, the minimum balance requirement can be in the tens of thousands of dollars, while with others there is none at all. Consider how much your business can afford to have locked into savings when comparing the different accounts.

It is a good idea to take into account all of your business savings needs and goals before actively looking into an high interest savings account. This will help you decide which features are of most importance to your business structure.

You may also be interested in

Do large bank transfers take longer?

No, whether you’re sending $2,000 or $20,000, the funds should still take the same amount of time to arrive to your recipient. However, keep in mind that your bank may have imposed a limit on the amount you are allowed to transfer in one transaction or to a particular recipient, so you may have to apply to have your transfer limit increased.

What are the benefits of a business savings account?

Business savings accounts are specially designed with a range of features to help your business better manage its finances. These accounts can:

  • Allow you to earn a high rate of interest on business funds - much higher than you would receive in a business transaction account
  • Offer a bonus interest rate for a special introductory period
  • Offer minimal transaction fees
  • Allow easy access to your funds if required
  • Offer the security and confidence of knowing that your money is protected by the Government Guarantee
  • Be tailored to suit short- or long-term business goals

What are the advantages or disadvantages?

A business HISA could be a smart choice if you have extra money at the end of each month. When deciding if this is a banking product your business needs, consider the following good and bad points you could encounter.


  • Ability to build your business savings passively. An HISA for a business is a good way to keep your money at work when it’s not needed for other business purposes.
  • Withdraw funds without penalty. Unlike term deposits, an HISA allows you to withdraw funds when you need to without penalty.
  • Security for your funds up to $250,000. Due to the Australian Government guarantee on deposits totalling up to $250,000, a business HISA is a secure way to store your surplus business working capital.


  • Account keeping fees may vary. Not all business HISA's will waive fees for the account. Some banks may charge fees after a certain number of transactions.
  • A high minimum account balance may be required. Some banks will require you to maintain an ongoing account balance of at least $10,000.

Are business savings accounts covered by the Government Guarantee?

Yes, deposits in business savings accounts are covered by this guarantee.

Are there risks to be should aware of?

Unlike investment accounts, there is no risk of losing your balance with an HISA unless it exceeds $250,000. There are, however, things you should avoid in order to maximise your savings benefits:

  • Too many transactions. If you choose an account that does not allow for unlimited free transactions, you may lose part of your interest earnings to fees if you make too many transactions into or out of your account in one month.
  • Depositing too much money. With accounts that require a minimum ongoing balance, you could find that you will have to pay fees if you need to use a portion of that money for your business.

How am I taxed on my business savings account?

Just as an individual needs to pay tax on any interest they earn from a personal savings account, your business will need to pay income tax on interest it accrues in a business savings account. Make sure to keep track of any interest you earn each year and declare it to the ATO.

What is the difference between an ABN and ACN?

An Australian Business Number (ABN) is issued by the Australian Taxation Office (ATO) to all businesses, from sole traders right through to large corporations. It is an 11-digit number and must be displayed on any invoices the business issues.

An Australian Company Number (ACN) is issued by the Australian Securities and Investments Commission (ASIC) to every new company in Australia. This nine-digit number ensures that companies can be identified when transacting business.

The ACN identifies your business while the ABN allows your business to carry out transactions.

Who is responsible for my business’ debt on its Visa credit card?

This depends on the liability option you selected when applying for the credit card. Company liability means that the company assumes liability for all transactions on the card, while individual liability means that one nominated person (for example a sole trader or a business employee) is responsible for paying off the debt on the card. Joint and several liability is suitable for partnerships and sees all partners accept joint and several liability for any debt on the card.

What’s the best bank account for depositing lots of cheques?

Look for a business bank account that offers zero or minimal fees on all transactions, including depositing cheques. For example, the Bankwest Business Zero Transaction Account does not charge any fees for domestic electronic, paper or over-the-counter transactions.

How keeping surplus capital in a business savings account can help grow your business


Maddy works a full time government job and has two children under the age of 12. As a single working mum, Maddy started an out-of-home baking business selling custom macaroons to friends and family. Now into the second year of her home business, her client base has grown and her services have expanded to include baking special occasion cakes. Maddy knows she will need to upgrade her oven to accommodate the growth of clients and order sizes. About six months into her business, she opened a St.George Business Access Saver Account which is linked to her St.George business transaction account.

Because the St.George Business Access Saver Account offers a competitive maximum interest rate of 0.50%, she hopes this will help her afford a bigger oven and other industrial-sized kitchen appliances she needs to accommodate her growing business. In addition, the HISA she chose charges no monthly service fees and offers online and mobile banking services which means she is able to manage her funds anytime, anywhere.

Common questions asked about business savings accounts

Does cardless cash work for business debit cards?

The cardless cash feature allows you to access your funds from an ATM even if your debit card has been lost or stolen. Instead of using your card, you can be sent a unique code that you can enter into an ATM when you need to withdraw cash. However, most banks do not yet offer this service on their business accounts - check with your financial institution for more details.

How do 1-year business savings accounts work?

A 1-year business savings account allows you to receive a fixed interest rate on your deposit amount for one year. This ensures a consistent investment return on your business funds but in many cases you are not allowed to access any money in the account until your deposit matures after one year.

How do 30-day notice business savings accounts work?

These accounts allow you to plan ahead and get your money to work harder for your business. They offer high interest rates and usually allow you to deposit funds at any time, but if you ever want to withdraw money from your account you will need to give written notice 30 days in advance. This allows you to access a higher rate of interest than is usually available with normal business savings accounts.

Do I get instant access to funds with my business savings account?

This depends on the type of account you open. Some accounts offer access to your funds whenever you need, while others will require you to provide notice ahead of time, for example 30 days in advance. Other accounts such as term deposits will not allow you to access any money until the fixed interest rate period ends.

Does it matter if I have bad credit if I want to apply for a business savings account?

Yes, banks will take your credit history into account when you apply to open a business account.

Can a business HISA be used for personal savings?

No, these accounts are designed specifically for business and will be subject to certain tax rates that will not be relevant to your personal savings.

I have multiple employees who will need to access my business savings, is this possible with an HISA?

Yes, some HISA accounts are structured to allow you to dedicate access to a certain number of employees. Understand however that you are still responsible for the account and any action they may make while using it.

Is my business savings secure in an HISA?

Deposits of up to $250,000 are secured by the Australian Government in the same way that a personal savings account is.

Is the UBank USaver Ultra available for businesses?

No, this account is only available for personal customers.

Picture: Shutterstock

Savings Account Offers

Important Information*
RaboDirect High Interest Savings Account

Maximum Variable Rate


Standard Variable Rate

Bankwest Hero Saver

Maximum Variable Rate


Standard Variable Rate

Citibank Online Saver

Maximum Variable Rate


Standard Variable Rate

AMP Saver Account

Maximum Variable Rate


Standard Variable Rate


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2 Responses

  1. Default Gravatar
    BarbMay 10, 2018

    Why is there a difference in interest rates between a business saver account and a personal saver account? Is there any reason why a business cannot use a personal saving account and earn the extra interest?

    • finder Customer Care
      NikkiMay 11, 2018Staff

      Hi Barb,

      Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?

      A business saver account and a personal saver account’ interest rates are different because a business saver account means it is an account regulated by Australia since it earns income hence it will be subject to certain tax rates that will not be relevant to your personal savings.

      Hope this clarifies,


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