A business CD locks a cash reserve for a fixed term in exchange for a fixed APY. The rate cannot change after the CD is funded, and taking the money out early costs a penalty.
Rate note (October 10, 2026): We read each bank's own business CD page on October 10, 2026. The 12-month rates:
| Bank | 12-month APY | Minimum | Bank's own rate date |
|---|---|---|---|
| Live Oak Bank | 4.30% | $2,500 | September 28, 2026 |
| First Internet Bank | 4.00% | $1,000 | October 2, 2026 |
| nbkc bank | 2.75% | $1,000 | October 10, 2026 |
| U.S. Bank | 0.05% | $500 | October 10, 2026 |
| American Express (existing card programs only) | 3.00% | $25,000 | July 1, 2026 |
| Capital One | Not offered | — | — |
Live Oak says its CD APYs are valid as of September 28, 2026; First Internet Bank last updated its rates October 2, 2026; nbkc dates its rates October 10, 2026; U.S. Bank's rates are effective October 10, 2026 for ZIP code 55402; American Express says its APY is accurate as of July 1, 2026. For comparison, the FDIC's national average for a 12-month CD was 1.73% as of September 21, 2026 (FDIC National Rates and Rate Caps).
How the picks are ordered: CDs that any eligible business can open come first, by verified 12-month APY, highest first. American Express follows because its CD is only for businesses that already have an Amex Business or Corporate Card program. Capital One is last because it lists no business CD. These picks carry no star rating — the rate and the date we read it are the signal. On a $50,000 deposit held for 12 months, 4.30% earns $2,150 and 0.05% earns $25.
How to pick a business CD
Three questions sharpen the choice:
How long can you lock the money? If you might need the funds within 6 months, a business savings account is safer. Compare the penalty with the interest you would earn before you commit.
Which term? The 12-month rate is not always the bank's best. Live Oak's rates were highest from 6 to 18 months and dropped to 2.00% at 2 years and longer. First Internet Bank paid 4.00% on every term from 12 to 60 months. nbkc paid more on 6 months (3.00%) than on 1 year (2.75%). U.S. Bank's promotional CD Special paid 3.25% APY for 6 months and 3.50% APY for 9 months, against 0.05% on its standard 12-month CD.
Do you need a branch? Of the banks on this page, U.S. Bank has a branch network, and it opens business CDs by appointment rather than online. Live Oak and First Internet Bank open business CDs online.
CD laddering for a business reserve
A ladder splits a reserve across several terms so that part of it matures at regular intervals. Each rung keeps its fixed rate until it matures, and the cash that comes due can be spent or rolled into a new CD at the rate offered then. Check each rung's early-withdrawal penalty first; the penalty, not the rate, is what an emergency withdrawal costs.
Related guides
- Best business savings accounts 2026 — for the part of the reserve that must stay accessible
- Best business checking accounts 2026 — the operating account layer
- Best CD rates 2026 — personal CDs, verified the same way