Can any business open a savings account?

Most providers offer accounts for sole traders, companies, partnerships and trusts, though the documents required differ by structure. Each provider sets its eligibility and identification requirements.

Is interest on a business savings account taxable?

Interest earned is generally assessable income for the business. This is general information only, and an accountant can confirm the treatment.

Does the deposit guarantee apply to businesses?

Yes. The Financial Claims Scheme protects deposits up to $250,000 per account-holder, per institution. The cap applies per account holder, not per account, so a company's deposits are counted separately from its director's, while a sole trader's business and personal accounts at the same bank share one cap.

Are there fees on business savings accounts?

Some charge account-keeping or transaction fees while others don’t. Fees come off the effective return.

How do a savings account and a term deposit differ for business cash?

A savings account keeps cash at-call for cash-flow needs; a term deposit usually pays a fixed rate for funds you can lock away. Many businesses use both.

Compare Business Savings Accounts

A business savings account keeps surplus working capital apart from the transaction account, and the interest it earns is assessable income for the entity. The Financial Claims Scheme guarantees deposits up to $250,000 per account holder per licensed bank, building society or credit union (brands under one licence count together), which is worth checking once a balance climbs past that. Rates here reach up to 5.55% with Rabobank's High Interest Savings Account (Business).

Rates checked against every provider’s own published data on 19 Oct 2026

			Actions
Rabobank	Max rate5.55%	Base rate3.55%	Interest earnings$569	Compare Rabobank High Interest Savings Account (Business)	Business only	Give your savings a boost with our award winning High Interest Savings Account which offers flexibility and easy access to your money.
Great Southern Bank Business+	Max rate5.15%	Base rate5.15%	Interest earnings$527	Compare Great Southern Bank Business+ Business+ Saver	Business only	Easy access to business savings.
Judo Bank	Max rate5.10%	Base rate5.10%	Interest earnings$522	Compare Judo Bank Business Savings Account	Business only	A competitive High Interest at-call savings account for Businesses.
Macquarie Bank	Max rate4.90%	Base rate4.90%	Interest earnings$501	Compare Macquarie Bank Macquarie Business Savings Account	Business only	A high-interest online business savings account with no fees
Bank of Sydney	Max rate4.35%	Base rate1.75%	Interest earnings$444	Compare Bank of Sydney Business Saver	Business only	Give your business savings a boost with a high-interest Savings Account for businesses looking to grow their savings whilst having flexible access to their funds.
Southern Cross Credit Union	Max rate4.20%	Base rate1.00%	Interest earnings$428	Compare Southern Cross Credit Union Business Star Saver	Business only	Star Saver savings account for Business
Rabobank	Max rate3.95%	Base rate0.25%	Interest earnings$402	Compare Rabobank PremiumSaver (Business)	Business only	Reward yourself with a higher rate for your good savings habits. Our PremiumSaver is simple, by growing your monthly balance your interest rate increases.
Arab Bank Australia	Max rate3.20%	Base rate0.30%	Interest earnings$325	Compare Arab Bank Australia Business Online Savings Account	Business only	An online savings account for businesses that provides a high rate of return and has the convenience of a regular transaction account online at your fingertips at any time.
Suncorp Bank	Max rate2.15%	Base rate2.15%	Interest earnings$217	Compare Suncorp Bank Business Saver Account	Business only	A savings account that works for your business.

What is a business savings account?

A business savings account lets a company, sole trader or partnership earn interest on surplus cash while keeping it accessible. It works much like a personal savings account, with a variable rate and often a conditional bonus, but is held in the business’s name and integrates with business banking.

Features that matter for businesses

Beyond the rate, businesses tend to value at-call access for cash-flow swings, the ability to link to a transaction account, multiple user access and authorities, and clean reporting for accounting. Some accounts pay a flat ongoing rate rather than a conditional bonus, which works for a business that can’t guarantee monthly conditions.

Access, fees and integration

Account-keeping fees, transaction limits and how the account connects to accounting software and payment flows all differ. Funds are protected by the Financial Claims Scheme up to $250,000 per account-holder, per institution. The cap applies per account holder, such as a company, a partnership or a trust’s trustee, rather than per account.

How business savings accounts compare

The realistic rate, fees, access and integration matter in proportion to how a business actually holds cash. Accounts can be compared side by side, and the full market is on the savings accounts hub. For surplus that can be locked away, there are term deposits.

Glossary

The key terms you’ll meet when comparing these products, reading product disclosures or talking to a provider.

Term	What it means
Account-keeping fee	A regular fee some accounts charge for maintaining the account, which reduces your effective return.
At-call	A savings account you can withdraw from at any time, with no fixed term.
Base rate	The standard ongoing interest rate that applies regardless of whether you meet any conditions.
Bonus rate	Extra interest paid on top of the base rate when you meet the account’s monthly conditions.
Compound interest	Interest calculated on your balance plus previously earned interest, so savings grow faster over time.
Financial Claims Scheme (FCS)	A government guarantee protecting deposits up to $250,000 per account-holder per authorised deposit-taking institution.
Introductory rate	A higher rate offered for a limited period, often three to five months, before reverting to a lower ongoing rate.
Variable rate	An interest rate the bank can change at its discretion, up or down, over time.

Term

What it means

Account-keeping fee

A regular fee some accounts charge for maintaining the account, which reduces your effective return.

At-call

A savings account you can withdraw from at any time, with no fixed term.

Base rate

The standard ongoing interest rate that applies regardless of whether you meet any conditions.

Bonus rate

Extra interest paid on top of the base rate when you meet the account’s monthly conditions.

Compound interest

Interest calculated on your balance plus previously earned interest, so savings grow faster over time.

Financial Claims Scheme (FCS)

A government guarantee protecting deposits up to $250,000 per account-holder per authorised deposit-taking institution.

Introductory rate

A higher rate offered for a limited period, often three to five months, before reverting to a lower ongoing rate.

Variable rate

An interest rate the bank can change at its discretion, up or down, over time.

Common questions

Rates and fees are sourced from each provider’s CDR Product Reference Data as of the date shown. This page is general advice only, not personal advice. CompareThat is not a bank. Payment can change where a product appears, never which products we show.