Open an AccountBofI Federal Bank
Most Popular BofI Federal Bank Accounts
| Account Type | APY | Account Name | Min | Max | |
|---|---|---|---|---|---|
| Checking | 0.80% | Business Interest Checking | - | - | Details » |
| Savings | 0.80% | Business Savings Account | - | - | Details » |
| Savings | 1.06% | Business Premium Savings Account | $25k | - | Details » |
BofI Federal Bank, a DepositAccounts.com advertiser, 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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Great Bank
BOFI has been a great experience for me. At first I was a little cautious because I use to a brick and mortar building. This bank makes life so much easier. You can deposit your money or take a withdrawal at suggested retailers, pay your bills online, get a loan, order checks, just like any other bank but more.
The experience just keeps getting better!
I currently bank with Bofi Federal Bank and couldn't imagine banking with anyone else. I have banked with multiple lenders but they did not meet my needs to where it stopped me from looking elsewhere. They had a monthly fee, or a requirement for how much should be in your account or in your savings or you would be charged an additional fee. They initially grabbed my attention due to a promotion that they had. I love that they wanted to give back to the community for people that trusted them and banked with them. Anytime I had an issue with overdrafting or another issue where customer service got involved it was a great experience. They relieved all of my worries and did whatever they could to assist me. Due to that I decided to refinance my mortgage through them as well. They have made a lifelong customer out of me!
Honest. Easy. Convenient.
I appreciate my experience with B of I. It's incredibly easy to login, and check my balance whenever I feel, day or night. The overview is relatively easy to understand, and straight forward. If I had to make a change, I would make lessen the amount of time it takes for transferring funds/deposits. Otherwise, I love the service.
Not recommended.
This bank operates on very irregular hours. The cut-off times for deposits to a checking account are vague. For the past year, every deposit that I have made before the close of business on Thursday has not arrived until Monday morning. This becomes a problem with overdrafts, because funds are not readily available to cover weekend purchases. The customer service is inexperienced and unwilling to help the customers.
Although I am not allowed to overdraw the account, the account can still become overdrawn. Automated payments are accepted, regardless of the amount of the overdraft. However, if you need an extra penny to make a purchase n the store or use an ATM, the transaction will always be declined. This practice leads to more unplanned overdraft fees.
Overall, I would not recommend this bank to new customers. I would suggest finding a more reputable bank with better operating procedures.
Data as of Q1 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35546 |
| Year Established | 2000 |
| Employees | 725 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.33% |
| Return on Equity - YTD | 24.43% |
| Annual Interest Income | $147.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2018vs Q1 2017 | $9.97B$8.69B |
| Loans | Q1 2018vs Q1 2017 | $8.10B$7.04B |
| Deposits | Q1 2018vs Q1 2017 | $8.01B$6.88B |
| Equity Capital | Q1 2018vs Q1 2017 | $924.4MM$769.3MM |
| Loan Loss Allowance | Q1 2018vs Q1 2017 | $62.1MM$46.0MM |
| Unbacked Noncurrent Loans | Q1 2018vs Q1 2017 | $30.8MM$33.3MM |
| Real Estate Owned | Q1 2018vs Q1 2017 | $8.1MM$908.00K |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.06% | $25k | - | Business Premium Savings Account | |
| 0.80% | - | - | Business Savings Account |
BofI Federal Bank Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.80% | - | - | Business Money Market | |
| 0.80% | - | - | Industry Specific Money Market |
BofI Federal Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.80% | - | - | Business Interest Checking |
BofI Federal Bank CD Rates
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