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Business Savings

Store your hard-earned cash in a secure account where it can continue to grow.


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A savings account can be the perfect partnership for your Magnifi Financial business checking account. Not only will you be able to store and save money, but you can watch it grow with dividends.

Magnifi Financial has a variety of savings options. Your local Commercial Banking Officer will help determine the right accounts fit for your business.

Calculate Your Savings

Initial Investment (optional):
Deposit Frequency:
Deposit Amount:
Annual Interest Rate:
Number of Years:
Future Value:
Interest Earned:

*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.

Savings Account

A basic savings account fit for everyone and any business.

  • No minimum balance or penalties
  • Earns dividends - Click for rate information
  • Access account information and transfer funds using internet or mobile banking
  • Can be used for overdraft protection on your Magnifi Financial checking account
Business savings
Grow your money with a money market account.

Money Market

It's a savings account with higher dividends! The more you deposit, the higher your return.

  • Seven rate tier levels that earn you higher dividends as you deposit more money - Click for rate information
  • $2,500.00 is required to open an account, that balance does not need to be maintained
  • No monthly fees or penalties
  • Can be used for overdraft protection on your Magnifi Financial checking account

Platinum Money Market

If you have a Magnifi Financial Business Platinum Checking account, you have access to the Platinum Money Market account with even higher tiers of savings rates. $10,000 is required to open this account, but that balance does not need to be maintained.

Excess Share Insurance (ESI)

Commercial members may qualify for additional deposit insurance above the NCUA-insured amount of $250,000.  Commercial members may request up to an additional $5,000,000 insurance coverage per unique entity for funds in Money Market or Business Platinum Money Market shares.  Dividends earned on the covered shares will be reduced to help offset the cost of the additional insurance premiums.  Magnifi Financial’s Commercial department will help determine the right amount of coverage for your business.

Business Savings Rates

Effective Date 8/1/2023

Account Type Dividend Rate APY Min. Opening Deposit Min. Balance to Earn Stated APY
Share 0.05% 0.05% $5.00 $5.00
Savings 0.35% 0.35% $0.00 $0.00
Money Market 0.65% 0.65% $2,500.00 $0 - $2,499
  0.65% 0.65%   $2,500 - $9,999
  0.70% 0.70%   $10,000 - $24,999
  0.80% 0.80%   $25,000 - $49,999
  0.995% 1.00%   $50,000 - $99,999
  1.094% 1.10%   $100,000 - $149,999
  1.292% 1.30%   $150,000+
Business Platinum Money Market 0.65% 0.65% $10,000.00 $0 - $2,499
  0.65% 0.65%   $2,500 - $9,999
  0.70% 0.70%   $10,000 - $24,999
  0.80% 0.80%   $25,000 - $49,999
  0.995% 1.00%   $50,000 - $99,999
  1.094% 1.10%   $100,000 - $149,999
  1.292% 1.30%   $150,000 - $249,999
  1.391% 1.40%   $250,000 - $499,999
  1.440% 1.45%   $500,000 - $999,999
  1.490% 1.50%   $1,000,000+
RateFlex High-Yield Business
Money Market
0.35% 0.35% $200,0001 $0-$199,9991
  4.169%2 4.25%2   $200,000-$5,000,0001
  0.35%3 0.35%3   Additional balance
above $5,000,000
H.S.A. Checking 0.35% 0.35% $0.00 $0 - $2,499
  0.40% 0.40%   $2,500 - $9,999
  0.50% 0.50%   $10,000 - $24,999
  0.55% 0.55%   $25,000 - $49,999
  0.60% 0.60%   $50,000 - $99,999
  0.65% 0.65%   $100,000+

APY = Annual Percentage Rate
Rates are subject to change without notice. Dividends compound monthly.

  1. End of business day aggregate balance of Business Platinum Checking and RateFlex High-Yield Business Money Market under the same account number.
  2. Dividend rate based on the lower end of Fed Funds Target range minus 1.00%. Dividend rate will never be less than the current “Savings” dividend rate with no dividend rate ceiling. Any rate updates will occur on the first of the month after the Fed Funds Target rates change.
  3. Dividend rate for balance over $5,000,000 of RateFlex High-Yield Business Money Market under the same account number.

Health Savings Account

Help ease the pain of health care costs for your employees. Make tax-free deposits for qualified medical expenses on behalf of your staff.

  • Open to individuals and families covered by a high-deductible health insurance plan
  • Account-holder earns tax-free dividends while saving for future medical expenses
  • No monthly maintenance fees!
  • Easily deposit pretax funds into your employees' accounts
  • Efficiently manage your payroll and contributions through Magnifi Financial's digital banking platform
  • Be competitive in the job marketplace by offering a matching contribution benefit for employees

Health Savings Accounts FAQs

Saving for health expenses

Certificates (CDs)

You have worked hard to earn your money, now put your money to work for you. Invest your money in a certificate and earn higher dividends while having peace of mind that your money is safe and secure.

  • 3-60 month terms available with fixed, competitive interest rates
  • Earns higher dividends than a savings account - Click for more information
  • Automatically renewable
  • Dividends compound monthly
  • $500 minimum deposit at account opening
  • Open a new certificate totally online through your digital banking account or from the palm of your hand on the Magnifi Financial mobile app

Individual Retirement Accounts (IRA)

Help your employees save for retirement with tax advantages. Magnifi Financial offers several IRA account options for various needs. Plus, as a business owner, you're able to deposit money into your employees' IRA accounts as a match or salary deferral.

  • IRA Savings (Traditional IRA, SEP IRA, Roth IRA, Simple IRA, Coverdell Education Savings Account, Roth and Roth Conversion)
  • IRA Certificates
  • Earn dividends based on tiered rate levels; the more you invest, the more you earn! Click for more information.

Get Started

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Contact Us

Fill out our online form with some information about your business and the products or services of interest. Your local Commercial Banking Officer will be in touch within 1-2 business days.

Contact Us


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Local Branch

You can open a business account or loan at any Magnifi Financial location. Each location has a designated Commercial Banking Officer, but we recommend you call ahead to make an appointment.

Branch Locations

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We have a dedicated phone line for business members which will help you reach someone who can help faster and save you precious time.

(833) 267-7321

Additional Products and Services for Businesses

Check out all of your other options you can utilize with Magnifi Financial's suite of business products and services! Our business team will work with you individually to ensure you're on track to reaching your business goals.

Credit Card

Earn cashback while covering business expenses.


Invest your business money and watch it grow.

Business Loans

Achieve your business goals with a variety of loans.
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