The moment you deposit money into your BlueVine checking account, you’ll start earning interest on that balance. And you’ll keep earning interest on balances up to $100,000.
Interest-bearing accounts are still relatively rare in the business banking world (probably because they weren’t even legal until a few years ago). But even among the interest-bearing business accounts out there, BlueVine has the best.
Part of that is the amount of interest. BlueVine offers a 1% interest rate on your account balance. For reference, Axos Bank used to have our favorite interest-bearing checking account, and it offers a maximum APY (annual percentage yield) of 0.81%. BlueVine’s interest rate is, as you can see, quite a bit higher.
It’s not just the great rate though. As we’ve been telling you, BlueVine offers an all-around great checking account. Most other interest-bearing checking accounts charge monthly maintenance fees and require high minimum account balances. BlueVine doesn’t.
Yes, you can only earn interest on account balances up to $100,000. So if you plan to keep hundreds of thousands in your bank account, BlueVine might not be the best bank to maximize your earnings. But for any business owner with a balance of less than $100,000? You’ll have a hard time finding a better rate.
In other words, BlueVine offers one of the best free business checking accounts and one of the best interest-bearing checking accounts. See why it’s our favorite source for business checking?