How has the cash rate affected business savings accounts?
Since the RBA rate hike in May, quite a number of financial institutions have increased savings account rates, including for business savers. In fact, Mozo’s database recorded an increase by 25 of the 49 business savings accounts we track during this time period.
In May, there was an average savings rate of 0.16% - now it’s 0.39%. While this might not seem like much, it’s still a 23% increase in two months.
Why get a business savings account?
Like a personal savings account, a business account is a place for business owners to deposit money for future use and earn interest on it. Just like regular savings products, you’re not always required to deposit large sums of money with these, and so your savings can grow as your business grows.
Some benefits from having a business savings account includes:
- Preparing for future or unexpected expenses
- Demonstrating responsibility for future business loans
- Earning interest.
Business savings accounts to consider
A business savings account is a great place to deposit your profits and not spend it. There are different types of accounts available with varying interest and features to help you reach your business goals, so it’s important to search for one that fits your needs.
To assist you with your search, Mozo’s expert judges analyse and compare business accounts to find which delivers the best value. For the 2022 Small Business Banking Mozo Expert Choice Award, our team found five top tier business savings accounts to add in your potential savings accounts list.
Some of them included:
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AMP Bank
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Beyond Bank
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Goldfields Money
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Me Bank
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ING
If you want to learn more about small business banking read our guides to business banking. Alternatively, to browser and compare more accounts go to our business savings account hub or start searching below.
Small business savings account comparisons on Mozo - last updated 5 December 2025
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Business Save
No Current Offer
4.00% p.a.(for $0 to $250,001)
$0.00
No deposit or withdrawal conditions. No minimum balance to earn interest. No set up or monthly account fees on Business Save.
CompareCompareBusiness Save
No deposit or withdrawal conditions. No minimum balance to earn interest. No set up or monthly account fees on Business Save.
- special rate
- No Current Offer
- rate for $10,000
- 4.00% p.a.(for $0 to $250,001)
- account fee per month
- $0.00
- Special rate conditions
- n/a
- Access
- -
- Minimum balance
- $0.00
- Other restrictions
- Must be linked to a Everyday Business Account with AMP Bank GO.
Read reviews and learn more about small business savings accounts
-
Business Online Saver
No Current Offer
0.05% p.a.(for $5,000 to $25,000)
$0.00
CompareCompareBusiness Online Saver
- special rate
- No Current Offer
- rate for $10,000
- 0.05% p.a.(for $5,000 to $25,000)
- account fee per month
- $0.00
- Special rate conditions
- n/a
- Access
- BPay, Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must be linked to ANZ deposit account.
Read reviews and learn more about small business savings accounts
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Business Access Saver
No Current Offer
0.01% p.a.(for $0 to $50,000)
$0.00
CompareCompareBusiness Access Saver
- special rate
- No Current Offer
- rate for $10,000
- 0.01% p.a.(for $0 to $50,000)
- account fee per month
- $0.00
- Special rate conditions
- n/a
- Access
- Branch access, Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account
Read reviews and learn more about small business savings accounts
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Business Optimiser
0.75% p.a. (for $0 to $1,000,000)
0.35% p.a.(for $0 and over)
$0.00
bonus rate for 6 months
CompareCompareBusiness Optimiser
- special rate
- 0.75% p.a. (for $0 to $1,000,000)
- rate for $10,000
- 0.35% p.a.(for $0 and over)
- account fee per month
- $0.00
- Special rate conditions
- Bonus rate for the first 6 months from account opening on balances up to $1,000,000
- Access
- Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account. Min combined balance of $50,000 required across any Business Optimiser and Business Term Deposits held in a business entitys name.
Read reviews and learn more about small business savings accounts
-
Business Online Saver
No Current Offer
0.01% p.a.(for $0 to $50,000)
$0.00
CompareCompareBusiness Online Saver
- special rate
- No Current Offer
- rate for $10,000
- 0.01% p.a.(for $0 to $50,000)
- account fee per month
- $0.00
- Special rate conditions
- n/a
- Access
- Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a Commonwealth Bank business cheque account in the same name
Read reviews and learn more about small business savings accounts
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Business Cash Maximiser
No Current Offer
0.50% p.a.(for $10,000 and over)
$0.00
CompareCompareBusiness Cash Maximiser
- special rate
- No Current Offer
- rate for $10,000
- 0.50% p.a.(for $10,000 and over)
- account fee per month
- $0.00
- Special rate conditions
- n/a
- Access
- Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account from this provider
Read reviews and learn more about small business savings accounts
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