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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 (5)

No Problems with BOFI

My husband and I have been using BOFI for several years now, we haven't had any problems. We have direct deposit and a saving account. The only thing that ever angered me was when they send a new card out, the go ahead and deactivate the old card before you receive the new one. This is frustrating because they don't tell you in advance and when you are expecting to be able to withdraw your check and all the sudden your card won't work, it's beyond frustrating. But other than that issue the bank is good to work with you. If you have a question or a problem, customer service really seems to listen and tries to help you figure it out. I feel the ATM fees are a little high.

Great bank

Posted by: Javier | Dec 13, 2016

I have been banking Bofi Federal Bank now for a few years after switching from one of the most popular banks in america. I have enjoyed having a great experience with this bank. First of all, they have the best customer service that you can imagine. They are always willing to help you when you have a question and they put the customer first. You can really see that when you talk to their customer service representative. I have both a checking and saving account and they are really easy to manage. I have never had a problem with them. I use the checking account for most of my purchases and it is really easy to manage your account with their online banking features.

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 or no?

So far I have been with BOFI for about a year, and have had great service with my checking account. One thing that I have found to be lacking is the ability to money transfers to other accounts that I use online which is a huge pain. But so far I have had great customer service when my card was used in another area, they quickly closed they account, and created me a new one and refunded my money in less then several days. So far I have been exceptionally happy with their service and would recommend them to anyone looking for a new bank.

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 - YTD1.81%
Return on Equity - YTD20.84%
Annual Interest Income$359.2MM
Assets and Liabilities
AssetsQ4 2016vs Q4 2015$8.16B$6.66B
LoansQ4 2016vs Q4 2015$6.86B$5.74B
DepositsQ4 2016vs Q4 2015$6.69B$5.23B
Equity CapitalQ4 2016vs Q4 2015$725.3MM$587.1MM
Loan Loss AllowanceQ4 2016vs Q4 2015$40.9MM$35.1MM
Unbacked Noncurrent LoansQ4 2016vs Q4 2015$34.6MM$26.5MM
Real Estate OwnedQ4 2016vs Q4 2015$908.00K$396.00K
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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%-$5mBusiness Savings Account

BofI Federal Bank Money Market Rates

0.80%-$5mBusiness Money Market
0.80%-$5mIndustry Specific Money Market

BofI Federal Bank Checking Account Rates

0.80%-$5mBusiness 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