Learn moreYes, a business can open a money market account to earn interest on savings. Several online and brick-and-mortar banks offer business money market accounts that earn upward of 2% APY, depending on your balance.
Best business money market accounts
Here are our complete picks, in alphabetical order:
- First Internet Bank Business Money Market Savings: Best overall business money market account.
- nbkc bank Business Money Market Account: Best for unlimited transactions.
- Piermont Bank Business Money Market Account: Best for high APY.
- U.S. Bank Platinum Business Money Market Account: Best for promo APY.
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No monthly fee- No minimum deposit
- No overdraft fees
- Free cash deposits
- Interest-earning
- Physical checks
- Cash deposits
- Branch access
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First Internet Bank Business Money Market Savings
Best for Overall business money market account
APY
2.94%
Earn 2.94% APY with a daily balance up to $5 million and 3.64% APY with a daily balance above $5 million.
With $0 min. balance for APY
Monthly fee
$5.00
Waived with an average daily balance of $4,000
Bonus
N/A
Pros
- High APY.
- No minimum balance to earn interest.
- ATM card access (sole proprietors only).
Cons
- Monthly fee.
- Minimum opening deposit ($100).
First Internet Bank’s Business Money Market account offers one of the highest, and most accessible, interest rates on the market. Account holders earn 2.94% APY on any balance up to $5 million, and can earn more if their balance exceeds that amount.
Min. opening deposit
$100
Free cash deposits
No
No cash deposits
Overdraft fees
N/A
Pros
- High APY.
- No minimum balance to earn interest.
- ATM card access (sole proprietors only).
Cons
- Monthly fee.
- Minimum opening deposit ($100).
First Internet Bank’s Business Money Market account offers one of the highest, and most accessible, interest rates on the market. Account holders earn 2.94% APY on any balance up to $5 million, and can earn more if their balance exceeds that amount.
Min. opening deposit
$100
Free cash deposits
No
No cash deposits
Overdraft fees
N/A
nbkc bank Business Money Market Account
Best for Unlimited transactions
APY
2.75%
Earn 2.75% APY on all balances.
With $0.01 min. balance for APY
Monthly fee
$0
Bonus
N/A
at nbkc bank, Member FDIC
Pros
- Earns 2.75% APY.
- No minimum balance to earn interest.
- No monthly fee or minimum opening deposit.
- Includes checks and an ATM card.
Cons
- High fee ($45) for international wire transfers.
- No weekend or after-hours customer support.
The NBKC Business Money Market account is as simple as they come. You earn 2.75% APY, no matter your balance, and have no monthly fees or transaction fees to worry about. Plus, this online business account can be opened in a matter of minutes.
Min. opening deposit
$0
Free cash deposits
Yes
Up to $2,500 per day via compatible ATMs.
Overdraft fees
$0
Pros
- Earns 2.75% APY.
- No minimum balance to earn interest.
- No monthly fee or minimum opening deposit.
- Includes checks and an ATM card.
Cons
- High fee ($45) for international wire transfers.
- No weekend or after-hours customer support.
The NBKC Business Money Market account is as simple as they come. You earn 2.75% APY, no matter your balance, and have no monthly fees or transaction fees to worry about. Plus, this online business account can be opened in a matter of minutes.
Min. opening deposit
$0
Free cash deposits
Yes
Up to $2,500 per day via compatible ATMs.
Overdraft fees
$0
Platinum Business Money Market Account
Best for Promo APY
APY
3.82%
Earn up to 3.75% special interest rate when you open a new Platinum Business Money Market Account and deposit qualifying balances. Terms Apply. Member FDIC.
With $50,000 min. balance for APY
Monthly fee
$15.00
Waived with $10,000 minimum balance
Bonus
N/A
at U.S. Bank, Member FDIC
Pros
- Bonus APY. Terms apply.
- Includes checks and an ATM card.
- Accepts cash deposits.
Cons
- Low ongoing APY.
- Monthly fee.
- High balance requirement for promotional rate.
U.S. Bank just made the Platinum Business Money Market Account bonus APY more accessible. You can now earn the bank's special rate of 3.82% APY with a $50,000 balance. Before, you needed a balance of at least $1 million to hit that APY tier. Have $1 million to sink into a money market account? U.S. Bank added a higher bonus APY tier (4.08%). Bonus APYs only apply to new accounts. Terms apply.
Min. opening deposit
$25
Free cash deposits
Yes
Up to 100 free cash deposit units per statement cycle.
Overdraft fees
N/A
Pros
- Bonus APY. Terms apply.
- Includes checks and an ATM card.
- Accepts cash deposits.
Cons
- Low ongoing APY.
- Monthly fee.
- High balance requirement for promotional rate.
U.S. Bank just made the Platinum Business Money Market Account bonus APY more accessible. You can now earn the bank's special rate of 3.82% APY with a $50,000 balance. Before, you needed a balance of at least $1 million to hit that APY tier. Have $1 million to sink into a money market account? U.S. Bank added a higher bonus APY tier (4.08%). Bonus APYs only apply to new accounts. Terms apply.
Min. opening deposit
$25
Free cash deposits
Yes
Up to 100 free cash deposit units per statement cycle.
Overdraft fees
N/A
Piermont Bank Business Money Market Account
Best for High APY
APY
3.25%
*Annual Percentage Yields (APY) are effective as of 06/19/2026. Earn 0.75% APY on balances up to $19,999.99. Balances above $20,000 earn 3.25% APY.
Monthly fee
$0
Bonus
N/A
at Piermont Bank, Member FDIC
Pros
- Potential for high APY.
- Includes checks and an ATM card.
Cons
- High balance required to earn best rate.
- Minimum opening deposit ($1,000).
- No weekend or after-hours customer support.
This account's 3.25% APY gets even better if you bundle it with the bank's Classic Business Checking Account. You'll earn 3.75% APY if you open the two in tandem and maintain a balance of at least $50,000 in the money market account.
Min. opening deposit
$1,000
Free cash deposits
N/A
Overdraft fees
N/A
Pros
- Potential for high APY.
- Includes checks and an ATM card.
Cons
- High balance required to earn best rate.
- Minimum opening deposit ($1,000).
- No weekend or after-hours customer support.
This account's 3.25% APY gets even better if you bundle it with the bank's Classic Business Checking Account. You'll earn 3.75% APY if you open the two in tandem and maintain a balance of at least $50,000 in the money market account.
Min. opening deposit
$1,000
Free cash deposits
N/A
Overdraft fees
N/A
Other great business money market accounts
These accounts aren't available through NerdWallet. Our editorial team still recommends them.
Chicago-based Republic Bank offers the highest APY we're aware of: 3.75% APY on accounts with balances between $2,500 (the minimum opening deposit) and $250,000. If your balance goes over that limit, the APY on the entire balance drops to a still exceptional 3.50%.
BMO (formerly BMO Harris) is another brick-and-mortar bank with a solid money market offering, although you'll have to visit your local branch to open an account.
APYs on the bank's Business Platinum Money Market Account range from 0.05% to 2.24% depending on your balance. You'll need $500,000 or more on deposit to earn the top rate. Certain BMO business checking customers may qualify to earn an additional 0.25% APY, taking the top rate up to 2.76%.
About this page
NerdWallet's small-business team fact-checks this page at least monthly. Some account details come directly from our partners. This helps ensure their info is always up to date. For other providers, we manually visit their websites and review rate sheets. We pay particularly close attention to items like APY and offer expiration dates, as those may change often.
When banks ask for ZIP codes to check rates, writers and editors use their own. (This includes locations in Illinois, New York and Washington, D.C.) If an account is unavailable in these areas, we use a ZIP code where it is. We typically don't see business money market rates vary by location. But it's still good to check what's available where your business is before applying.
What is a business money market account?
A business money market account is a type of business savings account. Unlike traditional savings accounts, though, most money market accounts offer checks and/or debit cards so you can easily withdraw funds as needed. Money market accounts are FDIC insured up to $250,000 per depositor, like other business bank accounts.
Interest rates on business money market accounts vary widely from one financial institution to the next: anywhere from 0.01% to more than 4%, depending on the balance you keep. Unlike business CDs, which lock in rates for a selected term, interest rates on these accounts are variable and can rise and fall depending on the rate environment.
Should you open a money market account for your business?
Business money market accounts are a good option for business owners to save emergency funds or excess operating funds. Figure out what balance you can reasonably deposit and maintain, then shop around for the best rates, comparing business money market accounts with other high-yield business accounts.
Here are the different business savings options in order of typical APYs (highest to lowest). Consider rates as well as the accessibility of your funds.
Business CDs
These often offer the highest rates of any business savings tool, and that rate is locked in for your term (anywhere from a few months to a few years). Your funds are also locked up for the term, though, so this option is best for money you don’t need for at least 12 months. See our top picks.
Business savings accounts
A standard business savings account can deliver high-yield returns while still giving you access to your funds. You won’t get checks or even ATM access in most cases, but you can transfer money out of your business savings account if needed. Interest rates on business savings accounts are variable, which is a good thing in the current rate environment. See our top picks.
Business money market accounts
Funds in a money market account are more accessible than a standard savings account — you can typically write checks or use a debit card — and you’re not locked in for a specific term, like with a business certificate of deposit. Most business money market accounts do impose transaction limits and charge fees if you exceed six withdrawals per month.
Business checking accounts
High-yield business checking accounts typically have lower rates than other interest-bearing deposit accounts, but your money is easily accessible. See our top picks.
Business money market account rates
The national average rate for money market accounts is 0.63% APY as of Sept. 21, 2026, according to the FDIC. While our picks for the best business money market accounts earn well above that rate, many money market accounts for businesses fall far below the national average.
Federal Deposit Insurance Corp.. National Rates and Rate Caps. Accessed Sep 30, 2026.
Interest rates on business money market accounts are often tiered: The bigger your balance, the higher your interest rate. You may need a balance in the millions to earn the top-tier rate with some money market accounts.
Rates can also vary depending on your location, particularly if a bank has a regional or national footprint. And if you have an existing relationship with the bank, you may qualify for a higher rate.
Rates are current as of Sept. 30, 2026, and do not reflect bonus APY offers or relationship rates.
Account | APY |
|---|---|
Republic Bank Business Digital Money Market account | 3.50%-3.75%. |
Prime Alliance Bank Business Money Market Account | 3.49%-3.90%. |
First Internet Bank Business Money Market Savings | 2.94%. |
NBKC Business Money Market | 2.75%. |
Frost Bank Business Money Market Accounts (Texas) | 1.25%-2.85%. |
BMO Business Platinum Money Market Account | 0.05%-2.24%. |
Axos Bank Business Money Market | 0.20%. |
KeyBank Business Select Money Market Savings | 0.05%-0.25%. |
U.S. Bank Business Money Market Accounts | 0.05%-1.14%. |
📈 MORE: Use our compound interest calculator to see how much you could earn at various rates
Frequently Asked Questions
Business money market accounts are FDIC-insured accounts. These business bank accounts are backed by the Federal Deposit Insurance Corp., up to $250,000 per depositor.
Methodology
NerdWallet’s writers and editors evaluate more than 60 business bank accounts from national, regional and online banks. Collectively, these accounts represent the largest banks by assets and the largest credit unions by membership, along with notable and emerging fintech companies and online banks.
We consider more than 20 data points for each account, including services, fees, features and rewards. We gather this information from rates and fees documents, deposit account agreements, financial institution websites and company representatives.
Our editorial team regularly reviews and updates our data to ensure consistency and accuracy. We also update our scoring on an ongoing basis to reflect changing industry norms and business owner needs. For instance, in 2026, we adjusted our expectations for APYs due to falling interest rates.
Final ratings range from one to five stars. A five-star score represents the best available product for the largest number of business owners. Learn more about how we rate business checking accounts.
