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  1. Small Business
  2. Solutions
  3. Business Savings Account

Business Savings Account for small business

Earn more on your small business savings and keep easy access to your money

small plant business

Business Savings Account

Explore our low-risk, interest-earning savings account that is perfect for small business owners.

Confidently grow your business's excess cash while maintaining easy and flexible access.

Save for the future of your small business today.
Apply now Contact a small business advisor

Why a CWB Business Savings Account?

Earn premium interest

Save on fees

Earn on any balance

Access your account anywhere, anytime

The Business Savings Account is perfect for business clients looking to earn competitive interest and maintain easy access to surplus funds. The account can operate as a peace-of-mind investment for small business owners who often need instant access to their savings to handle unforeseen business costs or growth opportunities.

​​Earn interest, mitigate risk, and grow your business for the future.

Find the right CWB solutions for your business size

Small business criteria
Read below to see if your business fits our small business category

Manage finances, grow investment, access key insights, and utilize dedicated support.

Small businesses can grow and maintain their operations with confidence using our tailored financial solutions. These solutions are designed for digitally savvy business owners looking for over-the-phone support and who have non-complex lending needs up to $50,000.

Generally, your business would be considered a small business if you:

  • Employ up to 20 people
  • Generate up to $2 million in annual revenue
  • Have no more than 4 signatories
  • Have no greater than 4 people acting as owners
  • Are not owned by another business. 

If you meet this criteria, continue on to explore our small business products and solutions. If your business is larger than described, explore our mid-large business products and solutions instead.

Explore our mid-large business solutions Explore our small business solutions
required documentation
To apply for our small business accounts, you will need the following documentation ready:
  • Most recent tax return
  • Business registration documents
  • Corporate ownership document, CRA Schedule 50, or Corporate Share Registry
  • Emails and legal names of all additional signers or owners that own more than 25% of the business
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Apply now

What's included

View the features of the CWB Business Savings Account to see if it is the right fit for your business.
Earn premium interest
Interest rates
Competitive interest rates always available
Tiered interest
Tiered interest that is paid monthly
Earn on any balance
No minimum balance
No minimum balance required to waive fees or earn interest
No monthly fee
Keep saving without penalty
No monthly payment required for the account
Fees and pricing
Credit transaction
$1.00 fee per credit transaction
Debit transaction
$5.00 fee per debit transaction
No monthly account service fee
Keep saving without the monthly penalty
Apply now
Rates*
$0 - $250,000 1.80%
$250,000.01 - $15,000,000 2.15%
$15,000,000.01 & over 2.80%
*Interest is calculated on the daily closing balance at the applicable rate tier and paid on the last day of the month, for the period beginning on the last day of the previous month and ending on the second last day of the month. Interest and rate tiers are subject to change without notice. Interest is paid in the currency of the account.
Effective date: ‎05-Feb-2024 Posted rates available at branches only. All rates are per annum and are subject to change without notice.

Business Savings Account fees
Monthly fee
 $0.00
Debit fee $5.00
Credit fee $1.00
There are some fees associated with your Canadian Western Bank business savings account.
Helpful tip: To avoid transaction fees, you can transfer the money to and from a complementary CWB business chequing account and complete the transaction in the chequing account.

Contact our dedicated small business experts now

Get expert advice and financial solutions tailored to growing your small business

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