Highest Business Savings Account Rates in Illinois
14 Illinois-specific products
Top Illinois Rate:3.82% APYFDIC or NCUA Insured
The Illinois market
Illinois accounts
14
Institutions
14
Top Illinois APY
3.82% APY
Nationally: 3.90% APY
FDIC national average
0.37%
As of Sep 2026
14 business savings accounts are open only to Illinois residents, from 14 institutions. The highest advertised APY among them is 3.82%.
The highest nationally available rate is 3.90% APY, 8 basis points above the Illinois leader.
4 of the 14 Illinois business savings accounts advertise more than the FDIC national average of 0.37% for savings accounts as of Sep 2026.
Illinois-Specific Business Savings Accounts
Business Savings accounts specifically available to Illinois residents.
| # | Institution & Rate | Earned in a year at $10,000 | Requirements & Features | Minimum Deposit | Actions |
|---|---|---|---|---|---|
| #1 | Show Details | +$382per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $50 | |
| #2 | Show Details | +$50per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $50 | |
| #3 | Alliance Community Bank Alliance Community Savings 0.45%APY No min. balance for APY Observed: Oct 7, 2026 Show Details | +$45per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $100 | |
| #4 | Show Details | +$30per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $500 | |
| #5 | Show Details | +$25per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $50 | |
| #6 | Peoples Bank of Kankakee County Business Savings Account 0.25%APY Min. balance: $300 Observed: Oct 7, 2026 Show Details | +$25per year | We could not confirm: minimum deposit. Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | N/A | |
| #7 | Show Details | +$15per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $1,000 | |
| #8 | Show Details | +$15per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $300 | |
| #9 | Show Details | +$15per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $100 | |
| #10 | Washington Savings Bank Commercial Statement Savings Up to0.40%APY Needs at least $250,000.01 Min. balance: $5,000 Observed: Oct 7, 2026 Show Details | +$15per yearEffective: 0.15% | Deposit Insurance FDIC InsuredRequires Mod. Minimum Features In-Person Access | $100 | |
| #11 | Show Details | +$10per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $100 | |
| #12 | Show Details | +$5per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $25 | |
| #13 | Show Details | +$3per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsIn-Person Access | $25 | |
| #14 | Show Details | +$1per year | Deposit Insurance FDIC InsuredFeatures Low MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | $100 |
#1
Waterman Bank
Business Savings
+$382
per year
3.82% APY
Oct 13, 2026
FDIC InsuredLow MinimumsIn-Person Access
Show Fine Print & Trends Hide Details
| Min. Deposit | $50 |
| Min. Balance | $0.01 |
| Maintenance Fee | $0 |
| Compound Freq | N/A |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 10878) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
Very StableNo rate changes in last 90 days
#2
The Clay City Banking Co.
Business Savings Account
+$50
per year
0.50% APY
Oct 7, 2026
FDIC InsuredLow MinimumsIn-Person Access
What to Watch
A $5 service fee applies each quarter unless a $200 minimum daily balance is kept.
Show Fine Print & Trends Hide Details
| Min. Deposit | $50 |
| Min. Balance | N/A |
| Maintenance Fee | $5 quarterly service fee; avoided with a $200 minimum daily balance |
| Compound Freq | N/A |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 10845) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 7 days
#3
Alliance Community Bank
Alliance Community Savings
+$45
per year
0.45% APY
Oct 7, 2026
FDIC InsuredLow MinimumsIn-Person Access
Show Fine Print & Trends Hide Details
| Min. Deposit | $100 |
| Min. Balance | $0 |
| Maintenance Fee | $0 |
| Compound Freq | N/A |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 9631) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 7 days
#4
Prairie Community Bank
Business Savings
+$30
per year
0.30% APY
Oct 7, 2026
FDIC InsuredLow MinimumsIn-Person Access
Show Fine Print & Trends Hide Details
| Min. Deposit | $500 |
| Min. Balance | $500 |
| Maintenance Fee | $0 |
| Compound Freq | N/A |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 34526) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 30 days
#5
First Security Bank
Business Savings
+$25
per year
0.25% APY
Oct 7, 2026
FDIC InsuredLow MinimumsIn-Person Access
What to Watch
A $5 service fee applies when the balance falls below $50.
Show Fine Print & Trends Hide Details
| Min. Deposit | $50 |
| Min. Balance | $50 |
| Maintenance Fee | $0 |
| Compound Freq | daily |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 3698) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 7 days
#6
Peoples Bank of Kankakee County
Business Savings Account
+$25
per year
0.25% APY
Oct 7, 2026
FDIC InsuredLow MinimumsIn-Person Access
We could not confirm: minimum deposit.
Show Fine Print & Trends Hide Details
| Min. Deposit | N/A |
| Min. Balance | $300 |
| Maintenance Fee | $0 |
| Compound Freq | quarterly |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 18566) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 30 days
#7
American Metro Bank
Business Savings
+$15
per year
0.15% APY
Oct 7, 2026
FDIC InsuredLow MinimumsIn-Person Access
Show Fine Print & Trends Hide Details
| Min. Deposit | $1,000 |
| Min. Balance | N/A |
| Maintenance Fee | $0 |
| Compound Freq | N/A |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 34334) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 30 days
#8
First State Bank
Business Savings
+$15
per year
0.15% APY
Oct 10, 2026
FDIC InsuredLow MinimumsIn-Person Access
Show Fine Print & Trends Hide Details
| Min. Deposit | $300 |
| Min. Balance | N/A |
| Maintenance Fee | $0 |
| Compound Freq | N/A |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 15752) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 30 days
#9
North Shore Trust and Savings
Business Savings
+$15
per year
0.15% APY
Oct 7, 2026
FDIC InsuredLow MinimumsIn-Person Access
Show Fine Print & Trends Hide Details
| Min. Deposit | $100 |
| Min. Balance | $100 |
| Maintenance Fee | $0 |
| Compound Freq | N/A |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 27683) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 30 days
#10
Washington Savings Bank
Commercial Statement Savings
+$15
per year
0.40% APY
Oct 7, 2026
Needs at least $250,000.01
APY Range: 0.15% – 0.40%
FDIC InsuredMod. MinimumIn-Person Access
What to Watch
An account closed within 90 days of opening carries a $25 fee.
Show Fine Print & Trends Hide Details
| Min. Deposit | $100 |
| Min. Balance | $5,000 |
| Maintenance Fee | A monthly service fee of $8.00 will be imposed each month if the minimum balance falls below $5,000.00. |
| Compound Freq | daily |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 29227) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
No movement is shown for an “Up to” rate.
#11
First Southern Bank
Business Savings
+$10
per year
0.10% APY
Oct 7, 2026
FDIC InsuredLow MinimumsIn-Person Access
Show Fine Print & Trends Hide Details
| Min. Deposit | $100 |
| Min. Balance | $0 |
| Maintenance Fee | $0 |
| Compound Freq | N/A |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 15565) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 30 days
#12
The First National Bank in Tremont
Business Savings
+$5
per year
0.05% APY
Oct 7, 2026
FDIC InsuredLow MinimumsIn-Person Access
What to Watch
The $5.00 maintenance fee is charged each quarter, not each month. It is waived when the account holds an average balance of $100.00 for the statement cycle.
Show Fine Print & Trends Hide Details
| Min. Deposit | $25 |
| Min. Balance | $25 |
| Maintenance Fee | Quarterly Maintenance Fee 5.00; waived when account has an average balance/statement cycle of $100.00 |
| Compound Freq | quarterly |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 3749) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 30 days
#13
Armed Forces Bank, National Association
Business Savings
+$3
per year
0.03% APY
Oct 7, 2026
FDIC InsuredLow MinimumsIn-Person Access
Show Fine Print & Trends Hide Details
| Min. Deposit | $25 |
| Min. Balance | N/A |
| Maintenance Fee | $0 |
| Compound Freq | quarterly |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 4666) |
| Eligibility | United States |
| Mobile Ratings | |
| BBB Rating |
Rate Stability
StableNo rate changes in last 7 days
#14
Bank of America
Business Advantage Savings
+$1
per year
0.01% APY
Oct 13, 2026
FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported
Show Fine Print & Trends Hide Details
| Min. Deposit | $100 |
| Min. Balance | $0 |
| Maintenance Fee | $0 |
| Compound Freq | Monthly |
| Direct Deposit | Not required |
| Deposit Insurance | FDIC Insured(Cert: 3510) |
| Eligibility | United States |
| Zelle® | SupportedLimit: $3,500 /dayFounding member; highest limits for established users. |
| Mobile Ratings | |
| BBB Rating | A+(BBB Accredited) |
Rate Stability
Very StableNo rate changes in last 90 days
Nationally Available Business Savings Accounts
The 8 highest-rate business savings accounts available nationwide, including in Illinois.
| Institution | Product / Term | APY |
|---|---|---|
| Prime Alliance Bank | Business Savings Accountneeds at least $200,000 | Up to3.90% |
| Climate First Bank | Super Savings | 3.56% |
| Axos Bank | Business Premium Savings | 3.50% |
| Capital One | Business Savings Account | 3.50% |
| Live Oak Bank | Business Savings | 2.75% |
| TAB Bank | Business Savings | 0.25% |
| Chase Bank | Chase Business Total Savingsneeds a linked account at the bank | 0.01% |
| Chase Bank | Chase Business Premier Savingsneeds a linked account at the bank | 0.01% |