Being in the real estate business requires solid business banking and a good lender. Fortunately, many banks realize how important real estate investing can be and offer several real estate financing options along with a wide selection of business banking products and services.
In this post, we’ll cover the best banks for real estate investors right now, plus what you should look out for when choosing a bank for real estate investment.
11 Best Banks for Real Estate Investors
- Bank of America
- Capital One
- First Internet Bank
- PNC Bank
- US Bank
- Wells Fargo
Bank of America
- Large selection of accounts and services
- Low interest rate on accounts
Bank of America Accounts
Bank of America offers two different business checking accounts. As the name suggests, the Business Advantages Fundamentals Banking account has the basics. However, it does offer quite a bang for the buck! The monthly fee is $16 – but if you meet the set requirements, the bank will waive it. You also get 200 transactions per month for free (transaction fees apply after that).
The Business Advantage Relationship Banking account will set you back $29.95 per month, which the bank will also waive if you meet the minimum balance requirement. This account offers 500 free monthly transactions, a free second checking account, and a free savings account.
There’s also a savings account with APY rates that range between 0.01% and 0.04%. The monthly fee is $10, waived when meeting any of the available requirements. There is a minimum opening deposit of $100, and transactions are limited to 6 per statement cycle.
Bank of America Credit Cards
Bank of America also has a selection of six business credit cards, including cards with rewards, lower interest, and building credit, among others. APR varies depending on the card and other factors. You can also get a statement credit bonus of $300 when applying for a new card.
BoA Business Services
Bank of America offers business banking services that real estate investors will find useful, including loans, lines of credit, and cash flow monitoring.
- No monthly fees or overdraft fees
- No credit cards, limited business services
Bluevine offers one business bank account. While it is primarily a checking account, it offers a healthy interest rate with some restrictions that we’ll get to in a bit. The account has no monthly fee and no requirements to meet. There is no minimum opening deposit requirement either – which makes things easy.
The account comes with a debit Mastercard. Spending $500 per month through this card or receiving a minimum of $2,500 monthly in customer payments earns you an interest rate of 1.50% APY on the first $100,000.
While there’s no interest on amounts over and above this limit, it is still a rate that’s considerably higher than what most business savings accounts offer. The account has no transaction limits, and ACH transfers, overdrafts, and incoming wires are all free. QBO integration is also free.
Bluevine Credit Cards
Unfortunately, Bluevine does not offer a credit card at this point. However, you can link an external credit card and use it with Bluevine’s Bill Pay.
Bluevine Business Services
Bluevines also offers a line of credit – up to $250,000. APR interest rates start from 4.8%, and approvals are very fast, with decisions taking as little as five minutes. You need to have a minimum of $10,000 in monthly revenue, a FICO score of at least 625 and have been in business for six months or longer.
- Large selection of accounts and credit cards, high-value rewards
- High monthly fees, no refunds on third-party ATM fees
Chase Bank Accounts
J.P. Morgan Chase offers a selection of three different business checking accounts with monthly fees ranging between $15 and $95 – all of which can be waived. The criteria for waiving the fee change from one account to the next, with minimum daily balance requirements ranging from $2,000 to $100,000.
Transaction limits also differ by account, starting at 20 free teller and paper transactions for the Business Complete Banking account and maxing out at 500 free monthly transactions for the Chase Platinum Business Checking.
Transaction fees apply once you reach the maximum. All accounts come with cash flow management tools, online and mobile banking, and many other perks. Chase also offers a $300 bonus for those opening a Chase Business Complete Banking account.
Chase also offers two savings accounts with an APY interest rate between 0.01% and 0.02%. The Chase Business Total Savings account has a monthly fee of $10 and $5,000 worth of free cash deposits, while the Chase Business Premier Savings account has a monthly fee of $20 and $10,000 worth of free cash deposits. The bank will waive both monthly fees if you meet the criteria.
Chase Credit Cards
Chase has a selection of nine different business credit cards, all of which have a welcome offer. Annual fees vary by card, while the APR varies by card and creditworthiness.
Chase Business Services
Chase also offers a wide range of business-related products and services, including the ability to accept credit card and debit card payments, loans, financing, fraud, and security services, and collect and deposit services, among others.
- Good selection of accounts and services, easy to waive monthly fees
- High fees, requires a minimum opening deposit
Capital One Accounts
Capital One offers a whole range of business financial products and services. You can choose accounts individually or use their configurator. Available options include:
- Manage cashflow
- Bank digitally
- Invest in my business
There are two business checking accounts: Basic Checking Account and Unlimited Checking Account. The basic account has a $15 monthly fee – but you won’t have to pay that if you maintain an average balance of $2,000 over a 30 or 90-day period. Free cash deposits are limited to $5,000, incoming domestic wires cost $15, and outgoing wires cost $25.
The Unlimited Checking Account has a monthly fee of $35. However, you can avoid paying that if you maintain an average balance of $25,000 over a 30 or 90-day period. Domestic wires are free, and cash deposits under $40,000 are free.
On the other hand, savings come with a promotional interest rate for the first 12 months and include six free monthly withdrawals. You can waive the $3 monthly fee when maintaining a minimum balance of $300.
Capital One Credit Cards
Capital One has six business credit cards. All cards come with either cash back or miles rewards. APR interest rates vary between 0% (you must pay the balance in full every month) and 26.99% – depending on which card you choose and your credit level. The minimum credit level to qualify is fair, which translates to limited credit history or have defaulted on a due payment in the past five years.
Capital One Business Services
Capital One also offers a wide range of business services and financing options, including loans dedicated to real estate, purchasing, refinancing, or making property improvements. The bank also offers lines of credit, merchant, and escrow services.
First Internet Bank
- No-fee accounts, competitive interest compared to many others
- No business credit cards, no physical branch locations
First Internet Bank Accounts
First Internet Bank offers two business checking accounts. The “Do More” Business Checking account aims to grow businesses and has no monthly fee or minimum balance requirements. You also get unlimited transactions.
Keeping your average daily balance at $10,000 or higher will earn an APY interest rate of 0.50%. The account also includes up to $10 in reimbursements for out-of-network ATM charges.
If your financial requirements are more complex, you can opt for a Commercial Checking account. Here, you can use features such as Remote Deposit Capture (RDC for short), Sweep Services, Check Positive Pay, and many others. You also access dedicated banking experts, treasury management, and merchant services.
First Internet Bank also offers regular savings and money market accounts. The savings account has a monthly fee of $2.00, which you can avoid when maintaining an average daily balance of $1,000. The interest rate is 0.90% (APY), and the minimum opening deposit is $100.
First Internet Bank Credit Cards
While First Internet Bank offers personal credit cards, it does not offer business credit cards at this time. However, they have a dedicated Commercial Real Estate Lending service with a dedicated team to help with debt restructuring, counseling, underwriting, and servicing loans.
First Internet Bank Business Services
Aside from Commercial Real Estate Lending, First Internet Bank offers several loan options, including SBA (Small Business Administration) lending, commercial lending, and financing for public projects. They also offer loan options for properties, including retail, office, industrial, and multifamily constructions.
- Low account fees, low balance requirements
- Only services 15 states
KeyBank offers three different business checking accounts. KeyBank Basic Business Checking offers just the basics for a monthly service fee of $5.00, waived when keeping an average ledger balance of at least $1,000.
You get 200 free transactions (combined) per month. One step up is the KeyBank Business Interest checking, which comes in with a monthly service fee of $15, waived when the daily ledger balance hits $5,000 or more over the statement period. Free transactions are limited to 100 per month; however, you earn interest. The APY rate is 0.01% on all balances.
There’s the Key Business Reward Checking, which earns no interest but comes with discounts on wires and 500 free transactions. The monthly fee is $25, waived when maintaining an average ledger balance of $7,500 or more.
KeyBank also offers three different savings accounts to choose from, all of which you can use for overdraft protection. All three accounts have a monthly fee you can waive when maintaining a minimum balance (of varying amounts, depending on the account).
KeyBank Credit Cards
Key Bank offers two business credit cards with no annual fee. APR varies between 13.24% and 24.24% – depending on which card you choose and your credit score. Both cards have an introductory APR of 0% for the first six months.
KeyBank Business Services
KeyBank also offers access to 1,400 ATM locations, business loans, mortgage loans, lines of credit for short-term capital requirements, cash management, and merchant services, among other things.
- No monthly fees or minimum balance requirements
- Limited selection of accounts, online-only
NBKC takes a slightly different approach than most other banks. There is one business checking bank account with a focus on simplicity. It does not come with many frills, but it does away with most fees.
There are no monthly maintenance fees and no minimum balance requirements. The account also includes a free MasterCard debit card, and incoming domestic wires are free.
NBKC does not offer a traditional savings account. Instead, you’ll find a Money Market Account, which offers many of the features of a savings account and includes a debit card. In keeping with the no fees theme, the Money Market Account has no minimum balance, no overdraft or NSF fees, and no incoming wire charges. The APY rate is 0.50% across all balances, and there is no minimum opening deposit.
NBKC Credit Cards
NBKC offers business customers four different business credit cards. APR ranges between 14.24% and 25.24%, depending on which card you choose and your creditworthiness. Three of the cards come with rewards, including cash back and points. The fourth card, on the other hand, offers a lower APR interest rate and comes with an extended introductory lower APR rate.
NBKC Business Services
NBKC also offers many other financial products and services, including commercial real estate loans, construction loans, SBA loans, lines of credit, and many others.
- Large selection of accounts, can link accounts for ease, offers merchant services
- No free accounts
PNC Bank Accounts
PNC has quite a large selection of accounts to choose from, so you’ll probably find a good fit for your requirements. The Business Checking account is the most basic account with a monthly fee of $10 and a minimum opening deposit requirement of $100. There are several ways you can have the fee waived, including maintaining an average balance of just $500 and a few others.
Transactions are limited to 150 per month, while deposits are limited to $5,000 per month. Anything over and above this will incur a fee. On the more positive side, you get cash rewards for everyday purchases, and a $200 PNC welcome bonus is up for grabs. Of course, if the account’s limitations are too much, you can always opt for one of the other accounts.
PNC does not offer a traditional business savings account. However, there is still a good selection of savings accounts, including a premium business MMA (Money Market Account) and MMDA Sweep account and CDs (Certificate of Deposit)
PNC Credit Cards
PNC offers a selection of five business credit cards. There’s a card that focuses on cash back, a card offering rewards, and a card that offers miles. If you want to make the most of your working capital, there is also a card. The fifth card caters to complex credit requirements and is worth considering.
PNC Bank Business Services
PNC offers commercial real estate loans for up to 15 years. They also offer remote deposit solutions, the ability to accept card payments, and other financing options.
LendingClub (previously Radius)
- Checking with interest and cash back, unlimited transactions
- No business credit cards
LendingClub offers several operating accounts. The Tailored Checking account offers some serious bang for the back. The monthly fee won’t apply when maintaining an account balance of at least $500. Balances of up to $100,000 earn an APY of 1.00%, while anything above this amount earns 0.10%. There is unlimited 1% cash back on qualifying purchases and unlimited ATM rebates when using out-of-network ATMs.
You can also send digital invoices and get paid online, helping you streamline processes. Other features include Business Bill pay, remote capture deposit, Autobooks, and many others.
There’s also a selection of savings accounts, including a Business High-Yield Savings account and Money Market and CD accounts.
LendingClub Credit Cards
Unfortunately, LendingClub doesn’t offer business credit cards, but they have many financing options, including dedicated commercial real estate financing. You’ll find various options, such as acquisition, refinancing, and construction loans.
LendingClub Business Services
LendingClub also offers SBA loans, deposit services, mobile wallets, and other specialty services.
- Free checking account, low fees, 125 fee-free transactions
- The APY is not competitive; cash deposit fee after $2,500 per month
US Bank Accounts
US Bank offers many business checking accounts, starting with the Silver Business Checking Account Package. This account has no monthly fee and offers 125 fee-free transactions per month. You also get up to $2,500 in free cash deposits or 24 cash transactions for free – whichever limit you hit first.
If these limits are too restrictive, you can opt for either the Gold package or the Platinum package, which has higher limits. Remember that these accounts have a monthly fee of $20 and $30, respectively. The fee is waived when meeting the bank’s criteria.
US Bank also offers a traditional business savings account, Money Market, and CD accounts.
US Bank Credit Cards
US Bank offers a selection of three credit cards and one co-branded credit card in partnership with Korean Air. The three credit cards provide introductory offers, including extra cash back, rewards, or an extended 0% introductory APR.
US Bank Business Services
US Bank offers other products and services, including loans for purchasing investment properties, business loans, cash management, credit lines, and many others.
- Interest-bearing checking account, easy to waive monthly fees
- No free accounts, only 100 fee-free transactions
Wells Fargo Accounts
Wells Fargo offers three business checking accounts to help you at a specific stage of your business journey. The Initiate Business Checking account is great for those just starting out. It has a monthly fee of $10, waived when maintaining a minimum daily balance of $500 or an average ledger balance of $100. The minimum opening deposit is $25.
If you’ve been in business for a while, you may opt for Navigate Business Checking or Optimize Business Checking instead. While these accounts have a higher monthly fee, they also have more perks and features, including the ability to earn interest, free incoming domestic and international wires, and access to Treasury Management, among others. The features you get will depend on which account you choose.
Wells Fargo offers two traditional savings accounts and CDs – Business Time Accounts. Monthly fees for the savings accounts start at $5.00, while the APY interest rate is 0.01% across the board.
Wells Fargo Credit Cards
Wells Fargo offers two business credit cards. Both cards have a new customer offer to sweeten the deal and come with 1.5% cash back and other perks and features.
Wells Fargo Business Services
Wells Fargo also offers commercial real estate financing for purchasing, refinancing, and borrowing options against the equity you hold. Other than this, you’ll also find merchant services, credit lines, and other loans.
Things to consider when choosing a bank for real estate investment
Keep the following things in mind when selecting a bank as a real estate investor:
- Online banking: Online banking can help business owners do more on the go – making that monthly payment, general business banking, or everything in between.
- Monthly transactions: Most accounts come with a limited number of transactions, with fees applicable once you’ve reached the limit.
- Deposit limits: Many accounts limit how much money you can deposit in a month for free.
- Line of credit: Access to a line of credit can be useful to tide you over and help you improve your cash flow management.
- FDIC insurance: Always ensure your mortgage lender is FDIC-insured so your money remains protected should the financial institution fail.
- Loan requirements: Banks can have stringent requirements when giving out loans. Whether you’re looking for a loan to purchase an investment property, refinance an existing piece of real estate, or buy apartment buildings, eligibility is a big factor to keep in mind.
- Fees: Look out for monthly and ATM fees and additional fees, such as closing costs.
Frequently Asked Questions
Which bank is the best for real estate investing?
Many banks are great for real estate investing. As each real estate investor is different, singling out one bank as the ultimate best is difficult.
Whether you care about earning a decent APY, fee-free accounts, or a wide selection of products, read our full list to help you find the bank that meets your investing needs.
Can I get a loan to purchase an investment property?
Yes, many banks offer dedicated loans for those looking to purchase an investment property. With many banks offering financing options for different types of assets, such as rental property, you can easily find such loans.