Business savings accounts

Data as of Oct 14, 2026A topic in Online Business Bank Accounts.Reviewed by Dimitry Apollonsky

Which brands AI mentions

Business savings accounts in Online Business Bank Accounts | Parse

If your priority is…	Start with
Higher interest with no monthly fee	Axos or Live Oak
A short-term promotional rate	Capital One
Keeping checking and savings together	Chase or U.S. Bank
In-person banking	Wells Fargo

Yes. I found a number of financial institutions that offer savings accounts specifically for business entities. Since you appear to be looking in Michigan, I’ve prioritized Michigan institutions and added a few strong nationwide/online options.

Institution	Business savings?	Entity types / notes	Key starting requirements
Bank of Ann Arbor	Yes	Business savings + commercial money market	$100 opening deposit; $100 balance waives monthly fee; FDIC insured
Michigan First Credit Union	Yes	Business savings for startups and established companies	$100 to open/maintain; business banking services; federally insured
Bank Michigan	Yes	Business savings, money market & CDs	Savings can open with $10; interest on daily balances above $200
ORSA Credit Union	Yes	Sole proprietorships, LLCs, partnerships, corporations, nonprofits & associations	$5 to open; $300 minimum balance to earn dividends; NCUA insured
Credit Union ONE	Yes	Business savings, money market & CDs	$500 average balance can waive savings fee; NCUA insured up to $250,000
University of Michigan Credit Union	Yes	Business savings; supports corporations, LLCs, partnerships, sole proprietorships, etc.	No monthly maintenance fee for business savings
Consumers Credit Union	Yes	Business savings for Michigan/Indiana small businesses	$50 minimum opening deposit; interest on balances as low as $50
Community Choice Credit Union	Yes	Business savings + analyzed savings	$5 to open; monthly fee can be waived with qualifying relationship
First National Bank of Michigan	Yes	Commercial savings + commercial money market + ICS	First Choice Commercial Savings geared toward businesses maintaining $1,000+
Mercury	Yes/interest-bearing options	U.S.-formed businesses; online-first	U.S. entity and U.S. operations required; deposits held through partner banks

Particularly relevant if you're forming an LLC

ORSA Credit Union stands out because it explicitly lists LLCs, corporations, partnerships, sole proprietorships, nonprofits and associations as eligible business types and spells out the documentation required.

For a more traditional bank relationship, Bank of Ann Arbor and Bank Michigan both have dedicated business savings products. Bank Michigan is especially interesting if you're looking for a very low initial deposit.

For an online option, Mercury accepts U.S.-formed businesses and provides access to FDIC-insured banking through partner banks; its sweep network can provide substantially more FDIC coverage for qualifying deposits.

One important distinction

If by “savings account for a business entity” you mean an account where the legal owner of the account is an LLC/corporation rather than an individual, I would narrow the search to institutions that explicitly accept your entity type. The documentation commonly includes formation documents, EIN, operating agreement, and identification for authorized individuals. ORSA, for example, explicitly lays these requirements out.

If you tell me the type of entity (LLC, corporation, nonprofit, partnership, etc.), approximate balance (e.g. $10k, $100k, $1M+), and whether you want a physical branch or online-only, I can make you a more targeted comparison of 10–15 institutions, including APYs, fees, minimum balances, FDIC/NCUA coverage, and eligibility.

Business savings accounts

Which brands AI mentions

Business savings accounts

Which brands AI mentions

Recommendations by AI engine

Questions and answers

Banks that offer business savings accounts

See where your brand stands in this ranking

Which one should you choose?

Sources cited in this answer8

Sources cited in this answer3

Particularly relevant if you're forming an LLC

One important distinction

Sources cited in this answer10

Top Financial Institutions for Business Savings

General Requirements to Open a Business Savings Account

Sources cited in this answer4

Which brands AI mentions

Which brands AI mentions

Recommendations by AI engine

Questions and answers

Banks that offer business savings accounts

Other topics in Online Business Bank Accounts

See where your brand stands in this ranking

Which one should you choose?

Sources cited in this answer8

Sources cited in this answer3

Particularly relevant if you're forming an LLC

One important distinction

Sources cited in this answer10

Top Financial Institutions for Business Savings

General Requirements to Open a Business Savings Account

Sources cited in this answer4