If you just want a basic high-yield savings account, you can go with Business Savings. This account has a low monthly fee, which you can waive with a $2,500 balance in your account.
Business Premium Savings doesn’t charge any monthly fee, but it requires a much larger minimum deposit (that can’t be transferred from an existing Axos Bank account). Likewise, you’ll earn interest only when you keep an account balance of $24,000 or more. If you keep a lot of money in your account, this could be your cheapest option.
But if you don’t, other accounts will earn you more interest.
For a money market account option, Axos Bank offers Business Money Market. It has a slightly higher monthly fee than the Business Savings account does, but you can waive your fee by keeping a $5,000 minimum balance in your account.
All the accounts above have variable interest rates, which means that your interest rate can (and will, based on our research) change over time. Sometimes that could work out in your favor. Other times, not so much.
For a fixed interest rate, you can choose a Business Certificate of Deposit. You can’t touch the money in your CD for the length of the term (a few months to a few years), but you’ll get a fixed rate that won’t fluctuate with market changes―potentially a safer option.