Best Business Savings Accounts Compared in Australia for 2026

Key takeaways

• Business savings accounts best suit companies with surplus funds – options range from traditional bank accounts to flexible alternatives like high interest business accounts and money market funds

• Both banks and fintechs offer savings products – the best choice depends on your business needs (AUD only vs multi-currency, lock-ups vs flexibility)

• Airwallex Yield lets you earn competitive returns on both AUD and USD funds with no lock-up periods

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. If you're after a high interest business savings account, the best company savings accounts for your industry, or simply want to compare the business savings accounts side by side, business needs differ and the right account 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 2026 to help you make an informed choice. This includes our own product, Airwallex Yield, which lets you earn competitive returns on both AUD and USD.

Compare the top business savings accounts and savings solutions

To help you compare business savings accounts effectively, we've compiled key details on each provider below. This table makes it easy to assess the best corporate savings account options alongside high interest business saving account alternatives.

What is a high-interest business savings account?

A high interest business savings account typically offers rates of 3% p.a. or higher, compared to standard base rates that can sit below 1% p.a. These high interest business bank accounts help your idle business funds generate meaningful returns rather than sitting dormant.

High interest business savings accounts include both traditional bank products with bonus rates and alternatives like money market funds. Keep in mind that for business savings accounts, you might be required to meet conditions, such as maintaining a minimum balance, in order to receive a high interest rate. 

Rates change frequently, so what qualifies as a high interest business saving account today may shift tomorrow. It's worth comparing your options regularly.

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.

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 doesn't 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.

What features should I look for in a business savings account?

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.

The pros and cons of a business savings account

Pros:

• Idle funds generate returns rather than sitting dormant in a transaction account

• Separating savings from everyday expenses makes cash flow easier to manage

• Most business savings accounts have no monthly account-keeping fees

• Unlike term deposits, you can typically access your money without withdrawal penalties

• Funds held with an ADI are government-guaranteed up to $250,000 per account holder, per institution

Cons:

• Base rates can be low – you often need to meet specific conditions to unlock bonus interest

• Bonus rates aren't locked in and can be reduced by the provider at any time

• Some accounts require you to hold a linked transaction account with the same provider

• If your business has minimal surplus cash or unpredictable cash flow, a savings account may not be practical

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 to optimise your business funds and grow your savings,  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.

How to choose the best business savings account

The best savings account in Australia for your business depends on your specific requirements. For example, do you need consistent access to your business funds, and do you want your savings account attached to your business account?

Here are some questions you can ask to help narrow down your savings search and find the best business interest accounts for your needs:

• 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 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 Australian businesses choose Airwallex Yield

More than $350 million has already been invested into the Airwallex Yield account by Australian businesses⁹. 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 that 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 really 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.

"Money is tight and every dollar counts for us and our clients. We expect our money to work as hard as we are, and the Airwallex Yield product helps us achieve that."

Yield benefits include:

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

• Competitive rates: You can earn competitive rates of return – see our Yield calculator here

• 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 20,000+ 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. When you compare business savings accounts, you'll find significant differences in flexibility and rate structures.

What is a high-interest business savings account?

A high-interest business savings account typically offers rates of 3% p.a. or higher, compared to standard base rates under 1%. These business savings account high interest products often come with conditions like minimum balances, monthly deposit requirements, or introductory periods. Both banks and non-bank providers offer high interest business savings accounts, including money market fund solutions like Airwallex Yield.

Do business savings accounts have fees or minimum balances?

Some do. Banks may charge monthly fees or require a minimum balance to unlock a business savings account high interest rate. 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, finding the best business savings account in Australia or a high interest business saving account can help 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. When evaluating any high interest business savings account that Australia banks offer, this protection applies. 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.html

3. https://www.commbank.com.au/business/bank-accounts/business-online-saver.html

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

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

6. https://www.myzeller.com/au/business-transaction-account/savings-account

7. https://www.amp.com.au/business-banking/small-business-everyday-money/amp-bank-go-business-save

8. https://www.airwallex.com/au/business-account/yield

9. https://www.airwallex.com/newsroom/qantas-business-money-introduces-yield-powered-by-airwallex-unlocking-high

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 11 February 2026 (AEDT) and indicate past 1-day annualised returns of the relevant underlying JPMorgan Liquidity Funds.