Written by Melanie Pincus | Edited by Abigail Bassett | Updated on 07/02/2025
Axos Bank is a digital bank based in San Diego and established in 2000. Its maximum savings rates are highly competitive, and it has an A financial health rating. The bank maintains no brick-and-mortar locations but operates offices in Las Vegas and Grandview Heights, Ohio.
- Checking accounts: Axos Bank offers six types of personal checking accounts, including one that earns rewards and one that combines checking and savings accounts. None of the accounts charges a monthly maintenance fee or requires a minimum deposit. You’ll need to meet a set of requirements to unlock the maximum annual percentage yield (APY) on the rewards checking account and the hybrid checking and savings account. Axos Bank also offers two business checking accounts.
- Savings accounts: Four personal savings accounts, including the hybrid checking and savings option, are available from Axos Bank. The Summit Savings account doesn’t come with any minimum balance requirements to unlock the APY. Another account is designed for teens. None of the accounts charges a monthly maintenance fee. Axos Bank also offers two business saving accounts.
- Money market accounts: Axos Bank promotes two business money market accounts, one of which is focused on nonprofit organizations. You’ll need a $1,000 minimum opening deposit for either account, and you’ll have to maintain a minimum average daily balance to avoid maintenance fees. Axos Bank also offers one personal money market account with no monthly maintenance fee.
- Certificates of deposit (CDs): Savers will find short-term and long-term CDs — as short as three months or as long as five years. You’ll need to put down at least $1,000 to open an account, but Axos Bank charges no setup fee or maintenance fee. Axos Bank also offers business CDs.
Customer service:
If you have questions about Axos Bank’s personal banking, call 888-502-2967 any day, any time, except Thanksgiving Day and Christmas Day. You can also send a secure message through your online personal account. For business banking, you can call 844-678-2726 or email [email protected].The Axos Bank mobile app comes with tools including the ability to automate bill payments, send money to friends and monitor your credit score.
Axos Bank has an A+ rating from the Better Business Bureau. It has a 3.7-star, average rating from Trustpilot based on more than 400 customer reviews.
PROS
• Checking and savings accounts don’t include monthly maintenance fees.
• CDs offer a range of term options.
• Many APYs are competitive.
CONS
• Branch locations are not available.
• Customers may need to meet requirements to unlock the maximum APY.
• Savers will find a low APY on the teen savings account.
To Get 4.66% APY You Need BOTH Checking & Savings Accounts
I wanted to open a high interest Axos savings account currently offering 4.66% APY. When I called I was told I MUST open both a checking AND a savings account to obtain the 4.66% APY. So, for people looking to open both types of account, this would be a good option. They have a separate savings only account offering 4.01% APY.
Questions About Current Experience
The reviews on this bank are relatively old (and generally bad). Does anyone have recent experience.
DA site shows a "Axos One Savings Special" account at 4.86 APY. Is that valid.
Their general website shows . (Point) 61%. They seem to have it highly advertised, but it technically is just over 1/2 of ONE PERCENT as listed.
Under a google search, they come up big with an ad stateing "Your 4.86 APY" is here and further state a 4.86 APY for savings coupled with a .51APY on checking.
Anybody have recent info on them.
(As I have no information on them, I have just rated them neutral)
Misleading APY On HYSA
I got excited when I saw the high interest rate on their HYSA but decided to call them to ask how long they anticpate offering it. Turns out that you have to make a minimum $1,500/month direct deposit, or transfer $5K into it every month to get the advertised rate, and also maintain some minimum balance in a checking account that pays no interest. It looks like it would be a full time job managing this. Waaay to complicated.
This Bank Is AMAZING - Cannot Understand The Bad Reviews
I LOVE LOVE LOVE this bank. They don’t even advertise all of their cool features. First you can use any Allpoint Atm at CVS to withdraw and DEPOSIT cash for FREE. Up to $1000 per transaction. NOT per day. Per transaction. So I can move a lot of money for free. The cash is always in my account and available in seconds. They have paper checks, in and out wire transfers, FDIC insured, bill pay, and will increase your daily limits for large transactions upon request. They have tons of banking products and their app is awesome. NO FEES EVER I cannot say enough good things. So happy.
Data as of Q1 2025
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35546 |
| Year Established | 2000 |
| Employees | 1377 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.56% |
| Return on Equity - YTD | 14.82% |
| Annual Interest Income | $419.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $23.1B$21.8B |
| Loans | Q1 2025vs Q1 2024 | $19.29B$17.89B |
| Deposits | Q1 2025vs Q1 2024 | $20.33B$19.23B |
| Equity Capital | Q1 2025vs Q1 2024 | $2.43B$2.19B |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $236.2MM$187.3MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $138.4MM$171.7MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $3MM$1.8MM |