Highest Business Savings Account Rates in Minnesota
15 Minnesota-specific products

By Aviel Fahl

Newest reading: October 13, 2026

Top Minnesota Rate:2.99% APYFDIC or NCUA Insured

The Minnesota market

Minnesota accounts

Institutions

Top Minnesota APY

2.99% APY

Nationally: 3.90% APY

FDIC national average

0.37%

As of Sep 2026

15 business savings accounts are open only to Minnesota residents, from 13 institutions. The highest advertised APY among them is 2.99%.

The highest nationally available rate is 3.90% APY, 91 basis points above the Minnesota leader.

7 of the 15 Minnesota business savings accounts advertise more than the FDIC national average of 0.37% for savings accounts as of Sep 2026.

Minnesota-Specific Business Savings Accounts

Business Savings accounts specifically available to Minnesota residents.

#	Institution & Rate	Earned in a year at $10,000	Requirements & Features	Minimum Deposit
#1	Stearns Bank National Association BusinessSmart Market Savings Up to2.99%APY Needs at least $500,000 No min. balance for APY Observed: Oct 7, 2026 Show Details	+$85per yearEffective: 0.85%	Deposit Insurance FDIC Insured Features Low MinimumsIn-Person Access	$100
#2	Cornerstone State Bank CornerStone Business Savings Up to1.31%APY Needs at least $150,000 Observed: Oct 13, 2026 Show Details	+$75per yearEffective: 0.75%	Deposit Insurance FDIC Insured Features Low MinimumsIn-Person Access	$100
#3	Cornerstone State Bank CornerStone Public Funds Savings Up to1.21%APY Needs at least $150,000 Observed: Oct 13, 2026 Show Details	+$75per yearEffective: 0.75%	Deposit Insurance FDIC Insured Features Low MinimumsIn-Person Access	$100
#4	The First State Bank of Rosemount Classic Business Savings 0.60%APY Min. balance: $10 Observed: Oct 10, 2026 Show Details	+$60per year	Deposit Insurance FDIC Insured Features Low MinimumsIn-Person Access	$50
#5	Midwest Bank Midwest Business Savings 0.50%APY No min. balance for APY Observed: Oct 13, 2026 Show Details	+$50per year	Deposit Insurance FDIC Insured Features Low MinimumsIn-Person Access	$100
#6	Minnwest Bank Platinum Business Savings Up to1.76%APY Needs at least $1,000,000 Observed: Oct 7, 2026 Show Details	+$40per yearEffective: 0.40%	We could not confirm: minimum deposit. Deposit Insurance FDIC Insured Features No MinimumsIn-Person Access	N/A
#7	Community Bank Owatonna Business Classic Savings Up to0.30%APY Needs at least $10,000 No min. balance for APY Observed: Oct 7, 2026 Show Details	+$30per year	Deposit Insurance FDIC Insured Features Low MinimumsIn-Person Access	$200
#8	Minnwest Bank Classic Business Savings Up to0.30%APY Needs at least $300 Observed: Oct 7, 2026 Show Details	+$30per year	We could not confirm: minimum deposit. Deposit Insurance FDIC Insured Features No MinimumsIn-Person Access	N/A
#9	Bank Forward Business Regular Savings 0.20%APY Min. balance: $200 Observed: Oct 7, 2026 Show Details	+$20per year	Deposit Insurance FDIC Insured Features Low MinimumsIn-Person Access	$200
#10	Citizens Bank Minnesota Business Savings Up to0.75%APY Needs at least $100,000 Min. balance: $500 Observed: Oct 7, 2026 Show Details	+$20per yearEffective: 0.20%	Deposit Insurance FDIC Insured Features Low MinimumsIn-Person Access	$0
#11	North American Banking Company Business Savings Up to0.20%APY Needs at least $10,000 Observed: Oct 7, 2026 Show Details	+$20per year	Deposit Insurance FDIC Insured Features Low MinimumsIn-Person Access	$100
#12	The Bank of Elk River Ascend Business Savings Up to0.15%APY Needs at least $10,000 Observed: Oct 7, 2026 Show Details	+$15per year	Deposit Insurance FDIC Insured Features Low MinimumsIn-Person Access	$50
#13	New Market Bank Standard Business Savings 0.13%APY Observed: Oct 7, 2026 Show Details	+$13per year	We could not confirm: minimum deposit. Deposit Insurance FDIC Insured Features No MinimumsIn-Person Access	N/A
#14	Bank of America Business Advantage Savings 0.01%APY No min. balance for APY Observed: Oct 13, 2026 Show Details	+$1per year	Deposit Insurance FDIC Insured Features Low MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported	$100

Stearns Bank National Association

BusinessSmart Market Savings

+$85

per year

2.99% APY

Oct 7, 2026

Needs at least $500,000

APY Range: 0.85% – 2.99%

FDIC InsuredLow MinimumsIn-Person Access

Show Fine Print & Trends

Min. Deposit	$100
Min. Balance	$0.01
Maintenance Fee	$0
Compound Freq	N/A
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 10988)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

No movement is shown for an “Up to” rate.

Official SiteStearns Bank National Association

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

Cornerstone State Bank

CornerStone Business Savings

+$75

per year

1.31% APY

Oct 13, 2026

Needs at least $150,000

APY Range: 0.75% – 1.31%

FDIC InsuredLow MinimumsIn-Person Access

What to Watch

A $3 maintenance charge applies to each quarterly statement when the balance falls below $100.

Show Fine Print & Trends

Min. Deposit	$100
Min. Balance	N/A
Maintenance Fee	$3.00 Maintenance charge per statement if balance falls below $100 (quarterly statement)
Compound Freq	quarterly
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 21525)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

No movement is shown for an “Up to” rate.

Official SiteCornerstone State Bank

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

Cornerstone State Bank

CornerStone Public Funds Savings

+$75

per year

1.21% APY

Oct 13, 2026

Needs at least $150,000

APY Range: 0.75% – 1.21%

FDIC InsuredLow MinimumsIn-Person Access

Show Fine Print & Trends

Min. Deposit	$100
Min. Balance	N/A
Maintenance Fee	$0
Compound Freq	quarterly
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 21525)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

No movement is shown for an “Up to” rate.

Official SiteCornerstone State Bank

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

The First State Bank of Rosemount

Classic Business Savings

+$60

per year

0.60% APY

Oct 10, 2026

FDIC InsuredLow MinimumsIn-Person Access

Show Fine Print & Trends

Min. Deposit	$50
Min. Balance	$10
Maintenance Fee	$0
Compound Freq	daily
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 9769)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

StableNo rate changes in last 30 days

Official SiteThe First State Bank of Rosemount

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

Midwest Bank

Midwest Business Savings

+$50

per year

0.50% APY

Oct 13, 2026

FDIC InsuredLow MinimumsIn-Person Access

Show Fine Print & Trends

Min. Deposit	$100
Min. Balance	$0.01
Maintenance Fee	$0
Compound Freq	N/A
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 9737)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

StableNo rate changes in last 30 days

Official SiteMidwest Bank

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

Minnwest Bank

Platinum Business Savings

+$40

per year

1.76% APY

Oct 7, 2026

Needs at least $1,000,000

APY Range: 0.00% – 1.76%

FDIC InsuredNo MinimumsIn-Person Access

We could not confirm: minimum deposit.

Show Fine Print & Trends

Min. Deposit	N/A
Min. Balance	N/A
Maintenance Fee	$0
Compound Freq	N/A
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 16958)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

No movement is shown for an “Up to” rate.

Official SiteMinnwest Bank

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

Community Bank Owatonna

Business Classic Savings

+$30

per year

0.30% APY

Oct 7, 2026

Needs at least $10,000

APY Range: 0.20% – 0.30%

FDIC InsuredLow MinimumsIn-Person Access

Show Fine Print & Trends

Min. Deposit	$200
Min. Balance	$0.01
Maintenance Fee	$0
Compound Freq	monthly
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 57468)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

StableNo rate changes in last 30 days

Official SiteCommunity Bank Owatonna

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

Minnwest Bank

Classic Business Savings

+$30

per year

0.30% APY

Oct 7, 2026

Needs at least $300

APY Range: 0.00% – 0.30%

FDIC InsuredNo MinimumsIn-Person Access

We could not confirm: minimum deposit.

Show Fine Print & Trends

Min. Deposit	N/A
Min. Balance	N/A
Maintenance Fee	$0
Compound Freq	N/A
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 16958)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

StableNo rate changes in last 30 days

Official SiteMinnwest Bank

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

Bank Forward

Business Regular Savings

+$20

per year

0.20% APY

Oct 7, 2026

FDIC InsuredLow MinimumsIn-Person Access

What to Watch

A $2 fee applies to each withdrawal or transfer after the third in a month.

Show Fine Print & Trends

Min. Deposit	$200
Min. Balance	$200
Maintenance Fee	$0
Compound Freq	N/A
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 8941)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

StableNo rate changes in last 7 days

Official SiteBank Forward

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

#10

Citizens Bank Minnesota

Business Savings

+$20

per year

0.75% APY

Oct 7, 2026

Needs at least $100,000

APY Range: 0.20% – 0.75%

FDIC InsuredLow MinimumsIn-Person Access

Show Fine Print & Trends

Min. Deposit	$0
Min. Balance	$500
Maintenance Fee	$0
Compound Freq	monthly
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 8200)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

No movement is shown for an “Up to” rate.

Official SiteCitizens Bank Minnesota

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

#11

North American Banking Company

Business Savings

+$20

per year

0.20% APY

Oct 7, 2026

Needs at least $10,000

APY Range: 0.05% – 0.20%

FDIC InsuredLow MinimumsIn-Person Access

Show Fine Print & Trends

Min. Deposit	$100
Min. Balance	N/A
Maintenance Fee	$0
Compound Freq	N/A
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 34836)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

StableNo rate changes in last 7 days

Official SiteNorth American Banking Company

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

#12

The Bank of Elk River

Ascend Business Savings

+$15

per year

0.15% APY

Oct 7, 2026

Needs at least $10,000

APY Range: 0.05% – 0.15%

FDIC InsuredLow MinimumsIn-Person Access

Show Fine Print & Trends

Min. Deposit	$50
Min. Balance	N/A
Maintenance Fee	$0
Compound Freq	monthly
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 1607)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

StableNo rate changes in last 30 days

Official SiteThe Bank of Elk River

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

#13

New Market Bank

Standard Business Savings

+$13

per year

0.13% APY

Oct 7, 2026

FDIC InsuredNo MinimumsIn-Person Access

What to Watch

A maintenance charge may apply when the balance falls below $100.

We could not confirm: minimum deposit.

Show Fine Print & Trends

Min. Deposit	N/A
Min. Balance	N/A
Maintenance Fee	$0
Compound Freq	N/A
Direct Deposit	Not required
Deposit Insurance	FDIC Insured(Cert: 1931)
Eligibility	United States
Mobile Ratings
BBB Rating

Rate Stability

Official SiteNew Market Bank

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

#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

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	iOS:4.8 Android:4.6
BBB Rating	A+(BBB Accredited)

Rate Stability

Very StableNo rate changes in last 90 days

Official SiteBank of America

Direct Link to Product Page (Not Sponsored)

Read Bank Overview

Nationally Available Business Savings Accounts

The 8 highest-rate business savings accounts available nationwide, including in Minnesota.

Institution	Product / Term	APY	Min. Deposit
Prime Alliance Bank	Business Savings Accountneeds at least $200,000	Up to3.90%	$0
Climate First Bank	Super Savings	3.56%	$50
Axos Bank	Business Premium Savings	3.50%	$0
Capital One	Business Savings Account	3.50%	$0
Live Oak Bank	Business Savings	2.75%	$0
TAB Bank	Business Savings	0.25%	$25
Chase Bank	Chase Business Total Savingsneeds a linked account at the bank	0.01%	$0
Chase Bank	Chase Business Premier Savingsneeds a linked account at the bank	0.01%	$0

See the full national list