A 32-year-old man and a 26-year-old man were arrested from separate addresses in the city, West Midlands Police said.
"They are held on suspicion of financing terrorism and officers are continuing to carry out enquiries at the addresses. The arrests were part of a continuing investigation and were intelligence led. There was no immediate threat to public safety," a West Midlands Police statement said.
The arrests this morning come days after two men, aged 38 and 40, were arrested in the city, also on suspicion of Syria-related terrorism offences.
Those two men were later released on bail.
It is not yet confirmed whether the two sets of arrests on similar charges are related to each other.
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