Most products on this page are from partners who may compensate us. This may influence which products we write about and where and how they appear on the page. However, opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain. This page may include information about American Express products currently unavailable on Slickdeals. American Express is not a partner of Slickdeals.

Axos Business Savings Account

Open Account

at Axos

Axos Business Savings doesn't have the strongest APY, but the low monthly maintenance fee of $5 (with an option to waive) and breadth of other financial products do a lot to make up for this. The $1,000 minimum opening deposit can be a barrier for newer businesses, however, and Axos is a digital bank, so it’s not the best option if you deal with cash regularly.

A Breadth of Account Options for Business Owners

Axos Bank offers a wide range of savings and checking accounts for business owners, with nice perks like daily compounding interest on savings accounts and a mobile app. The APY isn’t always competitive with other accounts out there, but those looking for an easy-to-use online bank may find a good home at Axos Bank.


  • Free remote deposits and free image statements
  • Daily compounding interest
  • Access to the Axos mobile app


  • APY is not competitive
  • Minimum deposit required to open account
  • Monthly maintenance fee for lower account balances
  • No physical branch locations

Axos Bank Business Savings Accounts

Axos Bank is one of the first internet banks, beginning in 1999 as Bank of the Internet USA. The bank's business accounts are excellent for online-based small businesses, including independent contractors and freelancers, who don't need to deal with cash deposits.

If you're thinking of getting a savings account for your small business, here's what to know about the options Axos Bank has to offer.

Business Savings Account


The bank's basic business high-yield savings account offers a 0.20% APY, regardless of what your balance is. The interest you earn in the account is compounded daily, which is more frequent than some banks that compound monthly or quarterly.

You'll also get some of the standard online banking options, including free remote deposits, free image statements and a mobile app.

In order to open an Axos Business Savings account, you'll need a minimum deposit of $1,000. The account also has a minimum balance requirement of $2,500. If you meet this requirement, you won't have to pay a monthly maintenance fee. If your average daily balance dips below that threshold, though, there's a $5 monthly fee.

If you're confident that you'll always meet the minimum balance requirement, this account is a good option. But if your business is still relatively new or you don't maintain a large savings balance, consider an account with another bank that doesn't charge a monthly fee or have a minimum balance requirement.

Business Money Market Account


This business account is designed for small business owners who need a high-yield account to hold reserves for a planned purchase or an unexpected event but also want easy access to the cash.

The Axos Business Money Market account offers the same 0.20% APY on all balances. But there is a $5,000 minimum balance requirement. Otherwise, you'll be slapped with a $10 monthly maintenance fee. There's also a minimum deposit of $1,000 when you first open the account.

Unlike the bank's business savings accounts, the Business Money Market account allows you to write checks and use a debit card. That said, like all business savings accounts, those transactions or withdrawals are typically limited to six per month.

If you exceed that limit, you'll pay a $10 fee for each excess transaction. And if it happens often, Axos Bank will either close the account or convert it to an account, such as a business checking account, that isn't subject to the withdrawal limit.

Business Premium Savings Account

The Axos Bank Business Premium Savings account is designed for small businesses that have a lot of cash on hand. The account offers a 0.20% APY on balances above $24,000, and you'll get all the same standard online banking features that the basic account provides.

That said, the account requires a minimum deposit of $25,000 when you open the account, making it inaccessible to many business owners. Once you make that deposit, though, you don't have to maintain a minimum balance going forward. There's also no monthly maintenance fee, regardless of what your balance is.

So why would you apply for this account instead of the Business Savings account? It's hard to say. The interest rates are the same on both accounts, and the basic account doesn't nix the rate if your balance falls below a certain point. And if you can afford to make the initial $25,000 deposit, you're unlikely to fall below the minimum balance requirement for the basic account.

Theoretically, it may be worth considering if your business savings account is either flush with cash or has no cash at all. But even then, the fact that the account doesn't pay interest once your average daily balance falls below $24,000 is impossible to overlook.

Other Axos Bank Business Banking Products

It's not uncommon for business owners to want to keep all their banking under one roof. Fortunately, Axos Bank offers some solid business checking products, including the Basic Business Checking and Business Interest Checking—both of which are offering sign-up offers right now. With both accounts, the bank offers unlimited domestic ATM fee reimbursements. Read our full review of Axos Business Checking for more information.

Axos Bank Business Checking Account Offers

Right now, you can earn up to $200 by opening an eligible Axos Bank Basic Business Checking or Business Interest Checking account and meeting certain requirements.* Note that you'll need to use promotional code NEWSBC on your account application to qualify for this promotion.

Once you've opened a new business checking account using the above promo code, you can earn $25 per statement cycle for up to five cycles if you maintain an average daily balance of $5,000 - $9,999; if you maintain an average daily balance of $10,000 or more, you'll earn $50 per statement cycle. However, it's important to note that this promotion only allows you to earn a maximum of four payouts total, so you can only earn a cash bonus during the fifth statement cycle if you missed one of the previous four.

Axos Basic Business Checking Account

Open Account

at Axos

  • Our Rating 4/5 How our ratings work
  • APYN/A
  • Minimum
    Deposit Required
  • Intro Bonus Up to $200Expires September 30, 2023 More Info

    Open a business checking account by Sept. 30 and get up to $200 when you use promo code NEWSBC on your application and maintain a minimum average daily balance of $10,000.

Axos Basic Business Checking is a good fit for new businesses or those that don’t generate a lot of sales (yet). It offers a sign-up bonus worth up to $200, which is relatively competitive, has no monthly fees, and unlimited domestic ATM fee reimbursements. However, Axos is an online-only bank, so it’s not a good option if your business handles cash regularly.

Axos Business Interest Checking

Open Account

at Axos

  • Our Rating 4/5 How our ratings work
  • APYUp to 1.01% More Info

    Customers earn 1.01% APY on balances between $0 and $49,999.99; balances between $50,000 and $249,999.99 earn 0.20% APY; balances of $250,000 or more earn 0.10% APY.

  • Minimum
    Deposit Required
  • Intro Bonus Up to $200Expires September 30, 2023 More Info

    Open a business checking account by Sept. 30 and get up to $200 when you use promo code NEWSBC on your application and maintain a minimum average daily balance of $10,000.

Axos Business Interest Checking is our favorite small business checking account for newly incorporated businesses. We’ve seen them offer up to 1.01% APY on your funds, which is great for a checking account, typically has a solid sign-up bonus, 50 free monthly transactions, and it’s relatively simple to waive the $10 monthly maintenance fee. But keep in mind Axos is an online bank, so cash-heavy businesses are not a good fit.

For all Axos Bank accounts, your funds are FDIC insured up to $250,000 per depositor, per account ownership category.


To be eligible to earn all or a portion of the cash incentive as part of the “SBIZ100" $100 promotion, a Basic Business Checking (BBC) or Business Interest Checking (BIC) that includes the promotional code “SBIZ100" must be submitted between 05/15/2023 at 12:00am PT and 11:59pm PT on 06/30/2023. Axos Bank reserves the right to limit each primary account holder to one (1) checking account promotional offer per year and customers who have held primary ownership of an Axos Bank or Axos Bank for Nationwide checking or savings account at any time in the past 12 months may be disqualified from the “SBIZ100" offer. Promotional terms and conditions are subject to change or removal without notice. Bonus cash may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After initial requirements above are met, the amount of cash bonus earned will depend on meeting the additional requirements outlined below:

Small Business Checking bonus up to $100: You must be approved for your new Small Business Checking account and fund it within 60 days of account opening. A cash bonus of up to $100 can be earned in the following manner during the first five (5) statement cycles. A statement cycle is a calendar month consisting of the days your account was open during that month. $25 will be earned for each statement cycle during which the average daily balance in your Small Business Checking account must be at a minimum $5,000 or greater. A maximum of four (4) payouts can be earned during the five (5) statement cycles and the bonus will be deposited into your Small Business Checking account within 10 business days following the end of the statement cycle in which the balance requirement was met. Your Small Business Checking account must be open and in good standing at the time the bonus is paid to be eligible to receive the bonus and your Small Business Checking account must remain open for 120 days or an early closure fee of up to $100 may apply.

The Bottom Line: Is Axos Bank the Right Fit?

Axos Bank offers some solid business banking options. But they're not a perfect fit for everyone. For example, some other accounts may offer rewards, perks and privileges that you can't get with Axos. Some may also offer unlimited monthly transactions, which are a better fit for high-volume businesses. You may even find better interest rates elsewhere.

Ready to open an Axos Business Savings Account? Start here.

Open Account

at Axos

Take your time to shop around and compare multiple options to make sure you find the right fit. Some of the other top online business bank accounts come from NBKC Bank, BlueVine and Novo. If you need a bank with physical branches, you may consider U.S. Bank, Chase, Bank of America or even local banks and credit unions.

If you have any questions about Axos Bank's business accounts, call 844-678-2726 to speak with a customer service representative.


Ben Luthi

Ben Luthi is a personal finance and travel writer and credit card expert. He has a degree in finance from Brigham Young University and worked in financial planning, banking and auto finance before writing full-time for NerdWallet and Student Loan Hero. Ben is now a full-time freelance writer and enjoys traveling and spending time with his two kids. His work has appeared in several publications, including U.S. News & World Report, USA Today, Money, Success and Slickdeals.