Compare the Best Business Savers in Australia for 2025

Key takeaways

• Business savings accounts and business saver solutions are a way to invest in your capital growth, and there are a number of options available

• Both traditional banks and fintechs have savings products and alternatives to consider

• The best business saver for you will depend on what your business needs – this guide will show you how to compare your options

Looking for smarter ways to grow your business funds without locking them away?

If your business has surplus funds sitting in an ordinary account, you could be missing out. Every dollar that you earn or invest should be working hard, not just the ones covering day-to-day expenses. The right business saver can help you earn returns on idle funds and support your growth without locking away capital.

With so many options available, from major banks to fintech challengers, it can be hard to know where to start. Business needs differ, and the right account for you will depend on your goals, cashflow habits, and how much flexibility you need.

In this guide, we compare some of the best business savings accounts and business savers available in 2025 to help you make an informed choice.

What is a Business Savings Account?

A business savings account helps you store extra business funds while earning some interest.

Some savings products, like traditional business savings accounts, are offered as standalone solutions that sit separately from a business’s everyday operating account. Others, such as Airwallex’s Yield account, are integrated into broader business account platforms.

These connected accounts often include features like FX and transfers, expense management, and debit cards, giving businesses more flexibility and control.

While the term 'business savings account' typically refers to bank-held savings products, 'business saver' can describe a wider range of return-earning options, including those offered by non-bank providers.

Top 5 Business Savings providers in Australia (2025)

Here are some of the leading high-interest Business Saver Accounts available to Australian businesses in 2025, based on publicly available data and features.

• Airwallex Yield: Yield is not a traditional bank savings product, but is a savings solution that allows you to earn returns on both USD and AUD in the one account. There are no lock-up periods, returns accrue daily, and you can instantly withdraw your returns. Your funds are invested into the JP Morgan money-market funds, which hold a AAA rating.

• Great Southern Bank’s Business+ Saver: A straightforward savings option for business customers, with bonus interest available when monthly deposit conditions are met.

• Macquarie Bank’s Business Savings Account: Provides interest on surplus business funds with flexible access and no ongoing account-keeping fees.

• Commonwealth Bank Online Saver and Flexi Investment Account: Offers two a standard business savings account and business term deposits. The Business Online Saver is attached to its standard business transaction account, while its Flexi Business Investment Account is a more flexible term deposit, allowing you to withdraw up to 20% of your funds early without penalty.

• Bank of Queensland Business WebSavings Account: An online savings account with competitive rates, no monthly fees, and flexible access for business customers.

Compare the top 5 Business Savings providers in Australia

Do I need a business savings account?

It is not a legal requirement for businesses to have a specific business savings account. Many businesses will just use a core business transaction account – that does not have specifically designed savings or returns capabilities – to manage their day-to-day cash flow. 

However, accounts that offer return-earning capabilities can be a practical way to make idle funds work harder. Options like Airwallex Yield are designed to support growth and efficiency by helping businesses generate daily returns on surplus capital, which you can then withdraw instantly.

For example, if your business is registered as a company, partnership or trust in Australia, you are required to open a business account or business bank account for tax purposes. This does not have to be a specific savings product, instead it might just be a business bank account.

Features to look for in the best business savings accounts

There are a number of features to look for in a savings account, but different features will matter to different businesses.

For example, a sole trader operating their business online will be looking for different features than a small business operating in a physical location, and this will differ entirely to a large-scale business operating globally and requiring business support services.

• Competitive returns. Keep in mind some rates are only available for a limited time, as is the case with introductory offers. Many rates are also subject to change.

• Multi-currency capabilities. Does your business hold cash balances in only AUD, or are there other currencies that you also have cash in (that you don’t want to subject to international conversion fees in order to generate returns). Many accounts only offer AUD returns, so this may be limiting to your earning potential.

• Lockup and penalty periods. If you need flexible access to capital to support your needs, then it’s worth identifying accounts which don’t penalise you for withdrawing your money when you need it. It’s also worth reviewing the time that it will take to process your withdrawal. 

• Minimum balance requirements. Some accounts may have minimum balance requirements which may or may not suit your needs. Some accounts might also waive their monthly fee if you meet a certain balance.

• Accessibility and integrations. For ease of use, you may want to ensure the account is easily accessible through online banking and mobile apps. Having your savings solution integrated with accounting software platforms like Xero might also save you admin come reconciliation time.

• Additional tools and features. Consider any additional features that may be beneficial to your business, such as corporate cards, expense management and support for your team, and access to additional financial products through the same platform such as FX and transfers.

How do interest rates and returns on business savings accounts work?

Business savings accounts offer a way for companies to earn returns on their idle funds, but the interest rate structures can be complex and vary between providers. 

Understanding these structures is crucial for businesses to make informed decisions about their savings.

Base interest rate

A default variable rate earned on your savings balance, which may vary depending on the balance amount. Generally, base interest rates are lower.

Tiered interest rate

Tiered interest rates are where different rates apply to different portions of the balance, for example, where a higher balance receives a higher rate. This structure can reward certain balances but isn’t flexible as your balance changes.

Introductory (honeymoon) interest rate 

A boosted rate is applied for a limited time, usually the first few months after opening the account. It’s usually only available for new customers.

Bonus interest rate

A bonus interest rate is a higher variable rate that is usually applied on top of the base interest rate if specific monthly conditions are met. Conditions can include maintaining a minimum balance or making regular deposits.

Rates or return

Not an interest rate, rates of return are available with savings solutions such as Airwallex Yield. With Yield, you earn these returns on both AUD and USD funds by investing in AAA-rated money market funds, with no lock-up periods.

How much money should a small business have in savings?

There’s no ‘ideal’ amount of money for a business to have in a savings account. Every business’ savings account will look different, and there are several factors that dictate how much money should be in savings at any given time. 

To figure out how much money you would like to have in your business savings account, it can be helpful to talk to a business financial advisor who can give you specific advice on your unique situation, as there are many factors to consider.

• Industry: Businesses in industries with less consistent cashflow, such as retail, hospitality and entertainment, may want to maintain a larger pool of capital to weather fluctuations in demand.

• Size: Larger businesses typically have more resources to absorb unexpected expenses, but they may also have higher fixed costs that require more substantial savings.

• Growth plans: Businesses with high-growth ambitions may wish to allocate more funds for investments and expansion.

What’s the best provider for a business savings account in Australia?

There is no one ‘best’ provider of business savings accounts in Australia, because each bank and financial institution providing savings accounts and savings solutions suit different business needs.

Here are some questions you can ask to help narrow down your savings search:

• What’s the rate of interest or return? One of the most important questions you can ask with a savings product is how much your funds will earn – look at this feature first.

• What other products does the provider offer? Opening multiple accounts with different providers can be a good way to get deals, but it can get complicated. A one-stop shop for your business funds can be ideal. This might include your business transaction account, business saver account, corporate cards, point-of-sale software, and more.

• What support do you get? Seamless signup is one thing, but who will be there when things go wrong? Make sure you have someone to talk to if something happens to your business savings account.

• How secure and regulated is the provider? Check appropriate licences (such as an AFSL) is in place and that its products are regulated correctly. For example, Airwallex holds an Australian Financial Services Licence (AFSL No. 487221) and is regulated by the Australian Securities and Investment Commission (ASIC). Airwallex meets the highest international security standards including PCI DSS, SOC1, and SOC2 compliance, in addition to our local regulatory requirements.

How do business savings accounts work with business transaction accounts?

Business savings accounts can either be a standalone account or be combined with a business account. Many banks and financial institutions allow you to open a savings account when you open an everyday business bank account.

There are many benefits to keeping your business finances together with the one financial platform. You have the advantage of easy access through internet banking, for example. You will also not need to worry about delays when transferring funds between accounts.

How to apply for a business savings account

Applications for business transaction accounts and savings accounts differ depending on the financial institution, but generally you will be required to submit the following documents:

Required documents:

• Business registration documents (e.g., ASIC registration or Australian Business Number (ABN) certificate)

• Identification documents for all authorised signatories (e.g., driver's licence or passport)

• Proof of business address (e.g., utility bill or lease agreement)

• Tax File Number (TFN) or Australian Business Number (ABN)

• You may also be required to submit business financial statements, tax returns and other relevant documents

The sign-up process usually involves a Know Your Customer (KYC) process and other checks which may take between 1–7 business days depending on the financial institution.

Why open a Yield account with Airwallex?

More than $100 million has already been invested into the Airwallex Yield account by Australian businesses, from fast-growing startups to established brands like Love to Dream. 

It’s a smarter way to put idle funds to work, every single day.

cogsflow was one of the first to adopt Yield when it launched. The eCommerce startup had been using a traditional bank solution, but it wasn’t delivering.

“It absolutely dominates the CBA solution we had,” says David Carbines, Co-Founder and CEO. “I think we've earned more with Yield in a week than we did with CBA in a month. We expect innovation like this to drive the market forward.”

Like many growing businesses, cogsflow experiences fluctuations in cashflow. They needed a solution that could flex with them.

“Every dollar counts, for us and our clients. The Airwallex Yield account helps us make sure our money works as hard as we do.”

Yield benefits include:

• AUD and USD balances: Earn returns on your local and international funds, all from one account

• Competitive rates: Currently 3.89% on USD and 3.59% on AUD*

• No lock-ups: Withdraw anytime without penalties. Ideal for variable cashflow

• Backed by JP Morgan: Low-risk money market investments

• Real-time Xero sync: Returns are auto-fed into your accounting

Join the 100+ Australian businesses already putting their idle cash to work with Airwallex Yield. It only takes minutes to get started, and there are no lock-ins or hidden fees.

Best business savings accounts: frequently asked questions

What’s the difference between a business saver and a traditional business savings account?

A traditional business savings account is offered by a bank and may come with fixed rates or access restrictions. A 'business saver' is a broader term that includes flexible options like Airwallex Yield, offering daily returns and no lock-ups.

Which business savings account has the highest interest rate in Australia 2025?

Rates change often, but as of August 2025, Macquarie and BOQ offer competitive bank rates. Airwallex Yield provides daily returns of 3.59% AUD and 3.89% USD with no lock-ups, giving businesses more flexibility than traditional savings accounts.

Do business savings accounts have fees or minimum balances?

Some do. Banks may charge monthly fees or require a minimum balance. Airwallex waives fees when you meet simple conditions such as a $5k monthly deposit or $10k balance, making it more accessible than many traditional options.

Should I open a business savings account?

If your business often has surplus cash, a high-interest savings account or saver product helps those funds work harder. Options like Airwallex Yield let you earn returns without locking money away, supporting both growth and flexibility.

Can I use a personal savings account for business funds?

It’s possible, but not recommended. Personal accounts may lack features businesses need – such as multi-user access, accounting software integration, and compliance reporting – so a dedicated business solution is the smarter choice.

How am I taxed on my business savings account?

Interest earned on a business savings account is considered taxable business income in Australia. It needs to be declared in your annual tax return, just like any other business earnings.

Can I apply for a business savings account with a bad credit score?

Yes, usually. Most business savings accounts don’t require a credit check because they are deposit products, not loans. You’ll just need the right business documentation.

Can multiple employees access a business savings account?

Yes. Many banks and fintechs allow multiple users with different permission levels. Airwallex, for example, lets you set user roles and transaction limits for your team.

Is my business savings safe?

Funds held with banks are protected under the Australian Government’s Financial Claims Scheme up to $250,000. Airwallex Yield funds are invested in low-risk money market funds managed by JP Morgan Asset Management.

What are the benefits of an online-only account?

Online-only business savings accounts often offer higher rates, lower fees, and faster access. They can be opened quickly and managed from anywhere.

Are debit cards available for a business savings account?

Typically, no. Debit cards are linked to transaction accounts, not savings accounts. If you need to spend from your business balance, it’s best to link a transaction account or use a business debit/credit card.

Sources: 

1. https://www.greatsouthernbank.com.au/lp/business-saver 

2. https://www.macquarie.com.au/business-banking/business-accounts/savings-account

3. https://www.commbank.com.au/business/investments/business-investment-account

4. https://www.boq.com.au/business/business-bank-accounts/savings-and-investment-accounts/business-websavings-account

Disclaimer: The information in this article is based on our own online research. Airwallex was not able to manually test each tool or provider. The information is provided for educational purposes only and a reader should consider the specific requirements of their business when evaluating providers. This research is reviewed annually. If you would like to request an update, feel free to contact us at [[email protected]]. This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) it is important for you to read the Product Disclosure Statement (PDS) for the Direct Services, which is available here.

The Airwallex Yield Liquidity Fund (Yield) is issued by K2 Asset Management Limited (K2) (ABN 95 085 445 094, AFSL No 244393), a wholly owned subsidiary of K2 Asset Management Holdings Limited. This information doesn’t take into account your objectives, financial situation, or needs. Read the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for Yield, available at www.airwallex.com.au/terms from Airwallex Capital Pty Ltd (ABN 37 609 653 312, AFSL No. 549026). All investments carry risk. *Target returns are net of fees as at 1 April 2025(AEDT) and indicate past 1-day annualised returns of the relevant underlying JPMorgan Liquidity Funds.