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Overview / Commentary
4350 La Jolla Village Drive, Suite 140
San Diego, CA 92122

BofI Federal Bank is an online financial services company that offers a variety of banking and lending products through a number of brands including Bank of Internet USA, UFB Direct, Bank X, and Netbank. Headquartered in San Diego, California, BofI is an FDIC-insured, award-winning, and publicly traded online bank. As part of their “branchless banking” business model, they have much lower fixed operating costs when compared to traditional, brick-and-mortar banks, and these savings are passed on directly to consumers in the form of lower fees and higher rates on their products. Since getting its start in the early 2000s, BofI has been on the forefront of the online banking movement—helping lead the charge into this new frontier while building a history of sustained growth.

Under their parent brand, BofI Federal Bank offers a full range of business products. Both the Business Interest Checking and Business Money Market accounts are highly competitive—having high rates, low fees, and little to no strings attached.

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Reviews (2)

Good Business Bank

Posted by: Shanell | Sep 2, 2016

I have been banking with this bank for years now, and love how they handle my financial needs. Their customer service agents are friendly, knowledgeable, and helpful. I recommend this bank for your business financial needs.

BofI Bank and Netspend are great!

Posted by: FreeWilly | Sep 19, 2016

I've been using Netspend and BofI Bank for two years with their savings deposit program, and it's just like a traditional bank but better. No overdrafts over $2.00 and no outrageous fees. I use it for tax refunds and get them really quick and do my online shopping with them. The only problem I've ever had is an authorization hold but that can happen with any bank. Not all online banking is the same I've had others that were terrible and had ton's of fees for checking your balance. They really help you save your money with their savings account with limited transfers and it's helped me so much. I also like the freebies I got from them like $50 dining certificates and $25 bonuses for deposits and referrals. Using them has been a good financial tool for me.


Health Grade Components

FDIC Certificate #35546
Year Established2000
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.93%
Return on Equity - YTD22.62%
Annual Interest Income$174.1MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$7.59B$5.82B
LoansQ2 2016vs Q2 2015$6.41B$5.03B
DepositsQ2 2016vs Q2 2015$6.12B$4.47B
Equity CapitalQ2 2016vs Q2 2015$657.1MM$513.7MM
Loan Loss AllowanceQ2 2016vs Q2 2015$35.8MM$28.3MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$31.9MM$30.8MM
Real Estate OwnedQ2 2016vs Q2 2015$207.00K$1.2MM
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Always verify rates and promotions with the bank or credit union. We are not BofI Federal Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

BofI Federal Bank Savings Account Rates

0.80%--Business Savings Account

BofI Federal Bank Money Market Rates

0.80%--Business Money Market
0.80%--Industry Specific Money Market

BofI Federal Bank Checking Account Rates

0.80%--Business Interest Checking

BofI Federal Bank CD Rates

1.35%$1k-Business 60 Month CD
1.05%$1k-Business 48 Month CD
0.90%$1k-Business 36 Month CD
0.70%$1k-Business 24 Month CD
0.55%$1k-Business 12 Month CD
0.25%$1k-Business 6 Month CD
0.15%$1k-Business 3 Month CD

BofI Federal Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 4350 La Jolla Village Drive, Suite 140 - San Diego, CA 92122