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Business certificates of deposit (CDs) offer business owners a unique opportunity to maximize their savings through high-yield interest. Business CDs work the same as personal CDs—you earn fixed interest on your balance for a predetermined period, called a CD term, and you agree to leave funds untouched in the account until this period ends.
The best business CD rates generally offer higher APYs than other business deposit accounts and, in many cases, numerous term options to meet a wide range of business needs.
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Best Business CD Rates of 2025
Best for One-Year Business CDs
First Internet Bank Business Certificates of Deposit
Annual Percentage Yield
3.60% to 4.20%
Rates & details as of 2/3/25.
Minimum Deposit Requirement
$1,000
Terms
3 Months to 5 Years
Learn More
Read Our Full Review
3.60% to 4.20%
Rates & details as of 2/3/25.
$1,000
3 Months to 5 Years
Editor's Take
Our experts picked First Internet Bank for its generous rates on one-year business CDs, which currently earn an impressive 4.20% APY. You can’t go wrong with any of its CD terms, though, as they offer rates ranging from 3.60% to 4.20% APY. You can open a business CD with a $1,000 minimum deposit.
Read our full First Internet Bank review.
Pros & Cons
- Wide range of CD terms from 3 months to 5 years
- Low minimum balance requirement for business CDs
- Option to receive monthly interest payments to a savings or checking account
- Early withdrawal penalty of up to 360 days of interest
Details
First Internet Bank has two business checking accounts, a regular business savings account, a business money market account and business CDs with terms ranging from three months to five years.
Interest on First Internet Bank business CDs is compounded monthly and credited on the last business day of the month. CDs automatically renew at maturity. The bank provides a ten-day grace period during which account holders can add or withdraw funds, open a new CD with a different term, or close the account without penalty.
First Internet Bank charges a penalty if you withdraw funds from a CD before it reaches maturity. The early withdrawal penalty ranges from 90 to 360 days’ worth of interest based on the CD term.
The First Internet Bank Do More Business™ Checking has no monthly fee, but you need to maintain a minimum $10,000 balance to earn interest. The First Internet Bank Business Money Market Savings has a $5 monthly fee, waived with a $4,000 minimum daily balance. It earns 3.46% APY with a daily balance of $5 million or below and 4.42% APY with a daily balance above $5 million. The First Internet Bank Business Regular Savings has a $2 monthly fee, waived with a $1,000 minimum daily balance. It earns 0.91% on all balances. You’ll need to call the bank for information about Commercial Checking.
Best for Short-Term Business CDs
TAB Bank Business Certificates of Deposit
Annual Percentage Yield
3.81% to 4.21%
Minimum Deposit Requirement
$1,000
Terms
1 to 5 Years
Learn More
Read Our Full Review
3.81% to 4.21%
$1,000
1 to 5 Years
Editor's Take
This online bank ranked highly with our experts for its one-year business CD paying 4.85% APY. TAB’s other CD terms offer high-yield rates, too, with rates ranging from 3.75% to 4.85% APY. Business CDs require a $1,000 minimum opening deposit.
Read our full TAB Bank review.
Pros & Cons
- Competitive CD and savings rates
- No monthly fees
- Full-service bank with multiple products for consumers and businesses
- Interest on CDs compounds daily
- No physical branch locations
- No free ATM network
Details
TAB Bank offers checking, high-yield savings, money market and certificates of deposit accounts with no monthly fees for both business and personal use. This full-service bank is online-only and doesn’t operate an ATM network.
The interest earned on Tab Bank Business CDs is compounded daily and credited monthly, quarterly or annually. Tab Bank Business CDs automatically renew at maturity. The bank provides a ten-day grace period in which customers can make changes to their account, close it or open a new CD without penalty.
TAB Bank charges an early withdrawal penalty equal to 90 to 180 days of interest, based on the CD term, if you withdraw funds before the CD reaches maturity.
Best for Large Balances
State Bank of Texas Business Certificates of Deposit
Annual Percentage Yield
4.25%
Minimum Deposit Requirement
$50,000
Terms
12 Months
4.25%
$50,000
12 Months
Editor's Take
State Bank of Texas did well with our experts because its High-Rate 12-month CD currently earns 4.25% APY, one of the highest rates available anywhere on a business CD. A minimum deposit of $50,000 is required to open an account, so it’s not necessarily an option for every business. This is also the only business CD the bank offers.
Pros & Cons
- Incredibly high APY
- High minimum balance requirement
- Only one CD term is available
- Interest does not compound
Details
Interest earned on the State Bank of Texas High-Rate 12-Month CD does not compound and is paid monthly through ACH payments or is added at maturity.
State Bank of Texas charges an early withdrawal penalty of 60 days if you withdraw funds before the CD reaches maturity.
Best for Business Checking Customers
Comerica Special Fixed-Rate Certificates of Deposit
Annual Percentage Yield
2.25% to 3.75%
Minimum Deposit Requirement
$2,500
Terms
6 Months to 12 Months
2.25% to 3.75%
$2,500
6 Months to 12 Months
Editor's Take
Our experts liked Comerica’s fixed-rate business CD specials for their high rates and accompanying business checking options. Business CD specials are available in three terms—180 days paying 3.75% APY, 270 days paying 3.50% APY and 12 months paying 2.25% APY. To open an account and qualify for the special rate, you must deposit a minimum of $2,500 and have a Comerica checking account. The bank offers a free business checking account as well as premium and interest-bearing checking accounts.
Pros & Cons
- Competitive rates on CD specials
- Free and premium business checking options
- Business CDs require a Comerica business checking account to open
- Higher minimum deposit requirement
- Low rates on standard business CDs
Details
Interest earned on Comerica special fixed-rate CDs compounds and is paid monthly. Special fixed-rate CDs require a deposit of $2,500 in new money.
Special fixed-rate CDs automatically renew at maturity to the current standard term and rate. There is a ten-day grace period in which you can withdraw funds or close the CD account without penalty. If you withdraw funds before maturity, Comerica charges an early withdrawal penalty of up to six months of interest, based on the term.
Best for Pairing With Business Savings
Live Oak Bank Business Certificates of Deposit
Annual Percentage Yield
Live Oak Bank Certificate of Deposit Annual Percentage Yield (APY) is valid as of 2/3/2025 and subject to change at any time without prior notice. The minimum deposit required to open an account is $2,500 and the maximum amount is $250,000 per account. Penalties may apply to early withdrawals. Fees may reduce earnings.
2.00% to 4.30%
Rates and details as of 2/3/25.
Minimum Deposit Requirement
$2,500
Terms
3 Months to 5 Years
Learn More
On Live Oak Bank's Website
Member FDIC
Member FDIC
Live Oak Bank Certificate of Deposit Annual Percentage Yield (APY) is valid as of 2/3/2025 and subject to change at any time without prior notice. The minimum deposit required to open an account is $2,500 and the maximum amount is $250,000 per account. Penalties may apply to early withdrawals. Fees may reduce earnings.
2.00% to 4.30%
Rates and details as of 2/3/25.
$2,500
3 Months to 5 Years
Editor's Take
Our experts favored Live Oak Bank for its variety of CD terms and other business accounts. The bank offers nine business CD terms ranging from three months to five years with rates from APY. While you can find higher rates at other banks on most CD terms, Live Oak business CDs are a great option to pair with the Live Oak Bank Business Savings Account. The account has no minimum balance requirements and no monthly fees, and it earns 3.50% APY.
Read our full Live Oak Bank review.
Pros & Cons
- Relatively competitive APYs on savings and CDs
- No monthly fees
- No minimum balance on savings accounts
- Wide range of business CD terms
- Interest compounds daily on CDs
- High minimum opening deposit on CDs
- No physical locations
- Low rates on long-term business CDs
Details
Business CDs require a $2,500 minimum deposit to open. Interest earned on Live Oak business CDs compounds daily and is credited monthly. If you withdraw funds from the account before maturity, the bank charges an early withdrawal penalty of up to 180 days of interest based on the CD term.
After maturity, there is a ten-day grace period in which account holders can withdraw funds or make other changes without penalty.
Summary: Best Business CD Rates of 2025
Methodology
To create this list, Forbes Advisor analyzed 46 CD and share certificate accounts across a mix of traditional brick-and-mortar banks, online banks and credit unions. For the star rating, we ranked each account on 11 data points within the categories of APY, minimums, compound interest schedule, customer experience, digital experience, available terms and overall availability. We also analyzed and ranked each account by individual term.
The following is the weighting assigned to each category:
- APY: 50%
- Minimum deposit requirement: 12.5%
- Customer experience: 10%
- Digital experience: 10%
- Compound interest schedule: 7.5%
- Availability: 5%
- Available terms: 5%
CD accounts with higher APYs rose to the top of the list. Minimum deposit requirements of $10,000 or higher affected scores negatively. Accounts with daily compounding interest schedules were scored higher than those with monthly or quarterly schedules. To appear on this list, the account must be nationally available.
To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Reviews Banks.
Business CD Rates
Business CDs can earn a higher rate than business savings and other deposit accounts, with the best business CD rates surpassing 5.00% APY. Banks and credit unions provide higher rates because CD funds are usually inaccessible without incurring a penalty for withdrawing funds before the CD reaches maturity.
Businesses often keep surplus funds in a savings account, but business CDs offer a high-yield alternative that may produce a better return if you don’t need to access your excess funds for a while.
How To Find the Highest Business CD Rates
Because CDs generally come with fixed interest rates, the higher the rate, the more you’ll earn on your balance for a particular period. Not all banks offer business CDs, so the first step is finding banks that do.
Online banks and credit unions generally offer the best rates on personal and business deposit accounts, including business CDs. Compare the rates and terms on CDs from our list above to other banks and credit unions to find the best rates.
Earning the highest rate is ideal, but it’s not the only feature to pay attention to. Other factors to consider when choosing a business CD include term options, deposit requirements, compounding schedule and fees. The best business CDs meet your specific needs while charging minimal fees and earning high-yield interest rates.
Find The Best CD Rates Of 2025
What Is a Business CD?
A business CD is a low-risk, timed deposit account that helps you grow your business savings at a guaranteed rate. Similar to personal CDs, business CDs are available through banks and credit unions and earn a fixed interest rate in exchange for leaving funds untouched in the account for a predetermined period. Business CD terms vary depending on the financial institution, ranging anywhere from one month to five years or longer.
Like other personal and business bank accounts, Business CDs held at a bank are FDIC insured up to $250,000 per depositor. Credit union business CDs are insured by the National Credit Union Administration (NCUA) for up to $250,000 per share owner.
How Does a Business CD Work?
A business CD works much like a personal CD. It’s a timed deposit account that generally earns a fixed interest rate over a predetermined term and charges a penalty for withdrawing funds before that term ends. Terms can range from one month to five years or more.
Because of this commitment, banks typically offer higher interest rates than what you’d get with a regular business savings account—plus interest is fixed for the duration of the CD term, giving you a predictable return on your investment. Interest may compound daily, monthly or at another interval, which can affect the total interest earned over the CD term.
The fee financial institutions charge for withdrawing funds before the CD matures is known as an early withdrawal penalty. This fee is usually equal to a portion of the interest earned on the account and can vary based on term length.
Once a business CD reaches maturity, banks usually provide a small window of time, called a grace period, during which CD owners can make changes to their account without penalty, including adding or withdrawing funds, opening a new CD with a different term or closing the account completely.
Can a Business Open a CD?
CDs aren’t just for individuals. Many banks and credit unions offer business CDs as well. The documentation required to open a business CD account often depends on the type of business but may include:
- A government-issued photo ID
- Social Security number
- Employer Identification Number (if applicable)
- Business name
- Physical address
- Articles of incorporation or other business formation documents
- Business resolution
- Business license
- Financial statements
- Organizational chart
- Certificate of Good Standing
You can often open a business CD online, but some banks may require you to meet or speak with a bank representative first.
