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  • Business Tools
  • Request a Debit Card
  • Complete a Saved Application
Resources Resources
  • FAQs
  • Financial Terms Glossary
  • Fees at a Glance
  • Account Rates
  • Balance Connect™ for overdraft protection
  • FAQs
  • Financial Terms Glossary
  • Fees at a Glance
  • Account Rates
  • Balance Connect™ for overdraft protection

Business Savings Account For Your Small Business

Open accountfor Business Advantage Savings

Watch your savings grow with a Business Advantage Savings Account Footnote [1]

Open now Business Advantage Savings Open now Business Advantage Savings
Complete your saved application
  • Overview
  • Business Savings Account Rates
  • Business Savings Account Fees
  • FAQs
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  • Schedule an appointment
  • Schedule an appointment
  • Call us
  • Phone number:866.283.4075
Open accountfor Business Advantage Savings
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Overview

Mobile Banking Footnote [2]

Download our free app Footnote [3] and conduct business on the go—including making mobile check deposits Footnote [4] —from anywhere you have an internet connection.

Powerful digital tools

View balances by category, get cash flow projections, and monitor key transactions at a glance with Cash Flow Monitor. Footnote [5]

Earn interest

Earn interest while maintaining easy access to funds.

Balance Connect™ for overdraft protection

Get help avoiding the inconvenience of overdrafts by enrolling in Balance Connect™ for overdraft protection for your Business Advantage Banking account. Footnote [6]

Link accounts

Can be linked to a Business Advantage Relationship Banking or a Business Advantage Fundamentals™ Banking solution. One Business Advantage Savings account included with no additional monthly fee as part of your Business Advantage Relationship Banking solution. Footnote [7]

Extra business services

Manage your cash flow with additional business services like Merchant Services, Remote Deposit Online and more.
Learn more about cash management tools
Expand all panels

Business Savings Account Rates

If you're enrolled in Preferred Rewards for Business Footnote [8] Footnote [9] you get extra interest based on your relationship tier

Select average daily balance

Interest Rate

APY Footnote [10] , Footnote [11]

If you're enrolled in Preferred Rewards for Business Footnote [8] Footnote [9]

Gold Tier APY Footnote [10] , Footnote [11]

Platinum Tier APY Footnote [10] , Footnote [11]

Platinum Honors Tier APY Footnote [10] , Footnote [11]

Preferred Rewards for Business clients get extra interest based on their relationship tier.

How to qualify

Business Savings Account Rates

If you're enrolled in Preferred Rewards for Business Footnote [8] Footnote [9] you get extra interest based on your relationship tier

Select average daily balance

Interest Rate

APY Footnote [10] , Footnote [11]

If you're enrolled in Preferred Rewards for Business Footnote [8] Footnote [9]

Gold Tier APY Footnote [10] , Footnote [11]

Platinum Tier APY Footnote [10] , Footnote [11]

Platinum Honors Tier APY Footnote [10] , Footnote [11]

Preferred Rewards for Business clients get extra interest based on their relationship tier.

How to qualify

Expand all panels
    Monthly Fee
    • We waive the monthly fee if you do one of the following each statement cycle:
    • Maintain a $2,500 minimum daily balance
    • Include one Business Advantage Savings account as part of your Business Advantage Relationship Banking solution
    • Be a member of Preferred Rewards for Business (first 4 savings accounts per enrolled business) Footnote [9]
    • Or pay $XXXX per month
    Required Opening Deposit
    • $XXXX

    View all savings fees at a glance

    Download the Business Schedule of Fees

Business Savings Account Fees

Monthly FeeRequired Opening Deposit
  • We waive the monthly fee if you do one of the following each statement cycle:
  • Maintain a $2,500 minimum daily balance
  • Include one Business Advantage Savings account as part of your Business Advantage Relationship Banking solution
  • Be a member of Preferred Rewards for Business (first 4 savings accounts per enrolled business) Footnote [9]
  • Or pay $XXXX per month
  • $XXXX

View all savings fees at a glance

Download the Business Schedule of Fees

    Monthly Fee
    • We waive the monthly fee if you do one of the following each statement cycle:
    • Maintain a $2,500 minimum daily balance
    • Include one Business Advantage Savings account as part of your Business Advantage Relationship Banking solution
    • Be a member of Preferred Rewards for Business (first 4 savings accounts per enrolled business) Footnote [9]
    • Or pay $XXXX per month
    Required Opening Deposit
    • $XXXX

    View all savings fees at a glance

    Download the Business Schedule of Fees

Business Savings Account Fees

Monthly FeeRequired Opening Deposit
  • We waive the monthly fee if you do one of the following each statement cycle:
  • Maintain a $2,500 minimum daily balance
  • Include one Business Advantage Savings account as part of your Business Advantage Relationship Banking solution
  • Be a member of Preferred Rewards for Business (first 4 savings accounts per enrolled business) Footnote [9]
  • Or pay $XXXX per month
  • $XXXX

View all savings fees at a glance

Download the Business Schedule of Fees

Footnote [9]

Rewards that grow with your business

Learn more about our program benefits
The Business Advantage Relationship Rewards program savings interest rate booster is only available to clients who have a Business Advantage Savings account and who have enrolled in the program. The interest rate booster will be applied to your Business Advantage Savings account after program enrollment. All savings accounts other than a Business Advantage Savings account, including Business Advantage Select Savings, Business Advantage Commercial Savings, Business Advantage Commercial Select Savings, Business Advantage Platinum Savings, and Business Investment Account are not eligible to receive the booster. Your enrollment in Business Advantage Relationship Rewards will automatically convert a Business Advantage Platinum Savings to a Business Advantage Savings account, which will then be eligible to receive the booster. Your enrollment in Business Advantage Relationship Rewards will not automatically convert any other existing savings account type to a Business Advantage Savings account, and any conversion from a non-eligible savings account type into a Business Advantage Savings account requires that you ask us to do a conversion. If your enrollment in the program is discontinued for any reason, the interest rate booster will end.
Business Advantage Savings comes with...
  • Mobile Banking
  • FDIC insurance
  • Financial network
  • Alerts
  • Automatic Transfers
  • Balance Connect™ for overdraft protection
Mobile Banking Footnote [2]

Download our free app and conduct business on the go Footnote [2]
Manage your account online 24/7 with secure Online Footnote [12] and Mobile Banking. Check your balance and keep tabs on account activity for you and your employees easily anytime, anywhere.
FDIC insurance
Balances are insured up to applicable limits. Learn more about FDIC insurance
Financial network
Access to our network of financial centers, ATMs, and Business Advantage 360, our online and mobile banking Footnote [2] solution.
Alerts Footnote [13]
With Bank of America alerts, you can choose to be notified about a change to your account that's important to you. From monitoring your balance, to tracking a deposit, to paying a bill, just choose when and how you want to be notified.
Automatic transfers
Set up automatic transfers to help build your savings. Simply choose the amount of money and frequency you want to transfer into your business savings account. Plus make changes anytime. Footnote [14]
Overdraft Protection
This optional service can help you cover your payments and purchases, helping you avoid overdrafts and declined or returned items.

Top business savings FAQs

Expand all panels
|

We offer 3 convenient ways of opening a business savings account:

  • Choose your business savings account and apply online
  • Call 866.543.2808
  • Schedule an appointment with a small business specialist
What you'll need to apply

  • Sole Proprietor
  • General Partnership
  • Limited Partnership
  • Corporation
  • Professional Corporation
  • Limited Liability Company
  • Unincorporated Association
  • Professional Association

Business Advantage Savings account
Interest is calculated at the discretion of Bank of America and can change at any time after the account is opened without notice or limit. See a complete listing of rates

Once we have both your completed application and required supplemental documents, we’ll make an application decision. If approved, your account could be open and ready to use within 24 hours. Remember, we need your supplemental documents within 11 days after you apply.

After your account is open, you should receive your ATM card in the mail within 5-7 business days.

Business Advantage Savings account
The monthly fee is $10. However, we waive the monthly fee if you do one of the following each statement cycle:

  • Maintain a $2,500 minimum daily balance
  • Include one Business Advantage Savings account as part of your Business Advantage Relationship Banking solution
  • Be a member of Preferred Rewards for Business
    • Get more information on rates and fees

Additional Business Savings and CD FAQs

Information for:

Connect with us

866.283.4075

Mon-Fri 8 a.m. – 10 p.m. ET

866.283.4075

Mon-Fri 8 a.m. – 10 p.m. ET

Schedule an appointment
  1. States, cities, counties and other public agencies should contact their banking representative to discuss product availability. Back to content
  2. Mobile Banking requires that you download the Mobile Banking app and is only available for select mobile devices. Message and data rates may apply. Back to content
  3. The Mobile Banking app is available on select devices. Not all Mobile Banking app features are available on all devices. Back to content
  4. Mobile Check Deposits are subject to verification and not available for immediate withdrawal. Other restrictions apply. In the Mobile Banking app menu, select Deposit Checks, then Help for details and other terms and conditions. Message and data rates may apply. Back to content
  5. You must be enrolled in Business Advantage 360, our small business online banking, or Mobile Banking to use Cash Flow Monitor and Connected Apps, and have an eligible Bank of America® small business deposit account. Mobile Banking requires that you download the Mobile Banking app and is only available for select mobile devices. Message and data rates may apply.

    When you use Cash Flow Monitor and Connected Apps to access services or information from third parties (“Third-Party Account Information”), you will be subject to any terms and conditions established by those third parties, in addition to the Cash Flow Monitor and Connected Apps Terms and Conditions. Bank of America, N.A. provides access to third-party websites and Third-Party Account Information only as a convenience, and is not responsible for, does not guarantee or endorse the services offered, and does not monitor or review such information for accuracy, completeness or otherwise. Information displayed through Cash Flow Monitor and Connected Apps may be more up-to-date when obtained directly from relevant third-party web sites. Neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.

    Bank of America and/or its affiliates or service providers may receive compensation from third parties for clients' use of their services. All third party trademarks, service marks, trade names and logos referenced in this material are the property of their respective owners. Bank of America does not deliver and is not responsible for the products, services or performance of any third party.
    Back to content
  6. Balance Connect™ for overdraft protection Transfer fees may apply. Please refer to the Business Schedule of Fees for details. Back to content
  7. One Business Advantage Savings account can be included with a Business Advantage Relationship Banking solution for no additional monthly fee. Additional linked Business Advantage Savings accounts will incur a fee if the minimum daily balance requirement is not met. See Business Schedule of Fees for an explanation of how the monthly fee waiver is applied and specific balance requirements. Back to content
  8. The Preferred Rewards for Business program savings interest rate booster is only available to members who have a Business Advantage Savings account and who have enrolled in the program. The interest rate booster will be applied to your Business Advantage Savings account after program enrollment. All savings accounts other than a Business Advantage Savings account, including Business Investment Account, are not eligible to receive the booster. Your enrollment in Preferred Rewards for Business will not automatically convert any other existing savings account type to a Business Advantage Savings account, and any conversion from a non-eligible savings account type into a Business Advantage Savings account requires that you ask us to do a conversion. If your enrollment in the program is discontinued for any reason, the interest rate booster will end. Back to content
  9. The Preferred Rewards for Business program is only available to Bank of America Small Business, Merrill Small Business, and Bank of America Private Bank® Small Business clients. Other categories of clients, such as those commonly referred to as Business Banking, Global Commercial Banking, Global Corporate Investment Banking, or Institutional clients are not eligible to participate in the program. Subject to certain exceptions, eligible business checking accounts generally are any Small Business checking account and the following Analyzed checking accounts: Full Analysis Business Checking or Analyzed Business Interest Checking. Clients in the eligible business categories may enroll in the program. To enroll you must have an active, eligible Bank of America business checking account, and maintain a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, or $100,000 for the Platinum Honors tier in your combined qualifying Bank of America business deposit accounts (such as checking, savings, certificate of deposit) and/or your Merrill business investment accounts (such as Working Capital Management Accounts, Business Investor Accounts, Delaware Business Accounts). The qualifying balance is calculated based on either (i): your average daily balance for a three-calendar month period, or (ii) your current combined balance, provided that you enroll at the time you open your first eligible business checking account and satisfy the balance requirement at the end of at least one day within thirty days of opening that account. Refer to your Business Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise. Certain benefits may be available without enrolling in the program if you satisfy balance and other requirements. Back to content
  10. Annual Percentage Yield is accurate as of . This is a variable rate account. Rates may change at any time without prior notice. Fees could reduce earnings on the account. Back to content
  11. APYs listed may include multiple balance tiers shown as a single tier if an interest rate is the same across multiple tiers. The balance tiers applicable to this account may change at any time without notice, before or after the account is opened. Please see the rate sheet for more information. Back to content
  12. Requires Internet access, and Internet service provider fees may apply. Back to content
  13. You may elect to receive alerts via text or email. Bank of America does not charge for this service but your mobile carrier's message and data rates may apply. Delivery of alerts may be affected or delayed by your mobile carrier’s coverage. Back to content
  14. Fees apply to wires and certain transfers. See the Online Banking Service Agreement for details. Data connection required for online and mobile transfers. Wireless carrier fees may apply. Back to content

Important Disclosures and Information

Bank of America and the Bank of America logo are registered trademarks of Bank of America Corporation.

Banking products are provided by Bank of America, N.A., Member FDIC, wholly owned subsidiary of Bank of America Corporation.

  1. Bank of America
  2. Small Business
  3. Savings & CDs
  4. Business Advantage Savings Account  current page
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  • Open a Business Checking Account
  • Business Debit Card
  • Business Advantage Savings
  • Business CD Products
  • Online Banking
  • Business Tools
  • Request a Debit Card
  • Complete a Saved Application
  • FAQs
  • Financial Terms Glossary
  • Fees at a Glance
  • Account Rates
  • Balance Connect™ for overdraft protection
  • Deposit Agreement and Disclosures

Business Checking

  • Open a Business Checking Account
  • Business Debit Card

Business Savings & CDs

  • Business Advantage Savings
  • Business CD Products

Manage Your Account

  • Online Banking
  • Business Tools
  • Request a Debit Card
  • Complete a Saved Application

Resources

  • FAQs
  • Financial Terms Glossary
  • Fees at a Glance
  • Account Rates
  • Balance Connect™ for overdraft protection
  • Deposit Agreement and Disclosures
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  • Contact Us
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  • Advertising Practices

    We strive to provide you with information about products and services you might find interesting and useful. Relationship-based ads and online behavioral advertising help us do that.

    Bank of America participates in the Digital Advertising Alliance ("DAA") self-regulatory Principles for Online Behavioral Advertising and uses the Advertising Options Icon on our behavioral ads on non-affiliated third-party sites (excluding ads appearing on platforms that do not accept the icon). Ads served on our behalf by these companies do not contain unencrypted personal information and we limit the use of personal information by companies that serve our ads. To learn more about ad choices, or to opt out of interest-based advertising with non-affiliated third-party sites, visit YourAdChoices powered by the DAA or through the Network Advertising Initiative's Opt-Out Tool. You may also visit the individual sites for additional information on their data and privacy practices and opt-out options.

    To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs.

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