Business Savings Accounts

Get the interest your money deserves. Mozo crunches the business saver market to deliver you the top high-interest accounts in seconds. Find out if you have the best savings rate for your business account now.

Page last updated December 12, 2019

Business savings account comparisons on Mozo - rates updated daily Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.

  • Promoted

    Business Saver Account

    1.85% p.a. (for $0 to $1,000,000)

    1.05% p.a.(for $0 and over)

    $0.00

    • Bonus rate for 6 months, starting the first day of the month following account opening.

    • Phone banking, Internet banking

    • $0.00

    • Must link to a transaction account

    Read our Mozo Review to learn more about the Business Saver Account

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  • Promoted

    Business Saver

    No Current Offer

    0.75% p.a.(for $0 and over)

    $0.00

    $0 monthly account keeping fees & Compatible with Self-Managed Super Funds

    • n/a

    • BPay, Branch access, Phone banking, Internet banking

    • $0.00

    • External transfer incurs $2 fee.

    Read our Mozo Review to learn more about the Business Saver

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  • Promoted

    Business Access Saver

    No Current Offer

    0.10% p.a.(for $0 and over)

    $0.00

    • n/a

    • Branch access, Phone banking, Internet banking

    • $0.00

    • Must link to a transaction account

    Read our Mozo Review to learn more about the Business Access Saver

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  • Promoted

    Business Optimiser

    1.75% p.a. (for $0 to $1,000,000)

    0.75% p.a.(for $0 and over)

    $0.00

    • Bonus rate for the first 6 months from account opening on balances up to $1,000,000

    • Phone banking, Internet banking

    • $0.00

    • Must link to a transaction account

    Read our Mozo Review to learn more about the Business Optimiser

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  • Promoted

    Business Online Saver

    No Current Offer

    0% p.a.(for $0 to $10,000)

    $0.00

    • n/a

    • Phone banking, Internet banking

    • $0.00

    • Must link to a Commonwealth Bank business cheque account in the same name

    Read our Mozo Review to learn more about the Business Online Saver

    Details Close

  • Promoted

    Business Cash Maximiser

    No Current Offer

    0% p.a.(for $0 to $10,000)

    $0.00

    • n/a

    • Phone banking, Internet banking

    • $0.00

    • Must link to a transaction account from this provider

    Read our Mozo Review to learn more about the Business Cash Maximiser

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  • Promoted

    Business WebSavings Account

    0% p.a. (for $0 to $10,000)

    0% p.a.(for $0 to $10,000)

    $0.00

    • Bonus rate for the first 4 months from account opening

    • BPay, Branch access, Internet banking

    • $1.00

    Read our Mozo Review to learn more about the Business WebSavings Account

    Details Close

Want more? Compare all 48 business savings accounts in the Mozo comparison engine.

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Business savings account resources

Reviews, news, tips and guides to help find the best business savings account for you.

Business savings account comparisons  

A business savings account, is an account where business owners can stash money for future use. Like a personal savings account, you can earn interest on these funds and access them whenever you need to. You don’t have to consistently deposit large amounts, it can gradually grow as your business does over time. It could be the perfect option for business owners who are planning a future renovation or company expansion. Take a look at our comparison table above, to explore some of your business savings account options. 

Benefits of a business savings account

While it’s not essential to open a savings account in addition to having a day to day business bank account, there are some big benefits of having a savings account for your business. First of all, you are preparing yourself by creating a liquid asset that can be used for any financial curveballs that could be thrown your way, and let’s be real, unpredicted business costs are almost unavoidable. It can also be a handy pile of cash to dip into around tax time, because running a business is time consuming, and having the security to pay taxes at the end of the financial year stress-free is a bonus!

Another major benefit of a savings account is, (wait for it), interest. While business accounts tend to have lower interest rates, opening an account and having your business savings grow over time can really help you at the end of the day. Similarly, up to $250,000 is insured with the Australian Government’s Deposit guarantee, so you can breathe easy knowing that your business savings are safe and secure where they are. Check out our business savings account guide, for more info.

Which account is right for my business?

There are a variety of options for your business savings, so having a clear idea of exactly what you are looking for before you open an account is the first step. Have a think about whether or not you want to simply lock your savings away for a certain amount of time, or you need the security of having constant access to your money when you need it. 

With an instant access savings account, you may receive a lower interest rate, but you have the flexibility to move around money as you want to. Most banks offer other higher interest and bonus interest savings account options as well that may more appropriately suit your business needs. Alternatively, a business term deposit may be an option for your business, in the case that you have a lump sum you don’t want to touch for a number of months or years at a fixed interest rate.

More FAQs about business savings accounts

Can I include a savings account as part of a business banking package?

Yes, you can include a savings account in a business banking package. It’s unrealistic to expect that one bank will offer the best interest rate, lowest fees and most outstanding features across all business banking products. However, holding all your accounts with the one provider can help develop the relationship your business has with a particular bank. Not only is it just easier for you to have all your business accounts in one place (and you may even snag a discount on fees with multiple accounts), it means that if you need a business loan down the track you have already built trust with your current institution. So, a savings account can be a great addition to your business banking package to show your earnings and saving capacity.  

Can I receive bonus interest on a business savings account?

With some business savings accounts there is the option for bonus interest. In this case, your standard interest may be slightly lower, but if you meet the conditions - like a minimum balance or making no withdrawals for a month - you receive a higher interest rate. While bonus interest may sound like a no brainer, be realistic with yourself about whether you may be withdrawing from this account often because this will affect whether you receive that higher interest rate or not. An instant access savings account may be the better option, since you can dip into your funds when you need to and may receive a better standard interest rate with no penalty for withdrawing.  

How do I apply for a business savings account?  

Applying for a business savings account takes a few simple steps online, but keep in mind you must have all the information handy for the application. You are required to provide your personal details, along with your business ABN, ACN and tax file number. Then, you will have to verify your identity using your passport, licence or medicare, and once the bank is sure you are who you say you are, you account is open!