Axos Bank Review

Axos Bank offers full-service banking completely online with no fees. Find out below whether they can replace your traditional bank account.

	Overall Score	3.9
	Savings	4.5
	CD	3.0
	Checking	5.0
	Mobile App	4.5
	ATMs	4.5
	Locations	2.0

5-point scale (the higher, the better)

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Pros and Cons

• Checking with rewards
• No monthly fee
• Domestic ATM rebates

• Low CD rates
• No physical branches

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Bottom Line

Full-service online bank with excellent checking and savings

Axos Bank, formerly known as Bank of Internet, has brought online banking to its users since 2000. They offer both personal and business banking products ranging from checking, savings, CDs, and more.

While it has fewer fees than traditional banks, there is a tradeoff to this fully digital bank: You won't be able to visit a physical branch for support.

Find out below if Axos Bank will work for your banking needs. Plus, see how they compare to other popular online banks.

Personal Checking Accounts

Axos Bank has plenty to choose from for personal checking. They currently offer five checking account options. Here's what you can expect from each:

Personal Savings Accounts

Axos Bank offers higher rates than many traditional banks. You can choose from three savings accounts

High Yield Savings
The High Yield Savings account offers 0.61% APY with no monthly fees or monthly balance requirements. With interest compounded daily and a free ATM card upon request, it's a flexible account to park your rainy day fund. To open the account, you'll need a minimum balance of $250.

Certificates of Deposit (CDs)
Axos Bank offers CDs ranging from 3 months to 60 months. But, their rates are pretty low at 0.20% APY. Remember, you can't access your funds for the specified time of the CD. If you do, you'll pay an early withdrawal penalty fee.

You'll need $1,000 to open an Axos Bank CD. Once it matures, you'll have a 10-day grace period to decide what to do with the funds before it auto renews.

Compare Savings Account Promotion

Member FDIC

CIT Bank Platinum Savings - 4.10% APY Boost

Get APY Boost Promotion

Expires 5/31/2026

With 6 month boost, you earn:

Tier	Boost APY
Balance over $5,000	4.10%*
Balance less than $5,000	0.60%*

After boost is completed, you will continue to earn our best standard rates:

Tier	APY
Balance over $5,000	3.75%1
Balance less than $5,000	0.25%1

• Needs to use promo code to qualify: CITBoost
• Boost lasts 6 months over standard APY
• Tiered account
• $100 minimum account opening
• Member FDIC
• No Monthly Service fees
• No account opening fees

Disclosures

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.

*APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

For complete list of account details and fees, see our Personal Account disclosures.

High-Yield Savings Account - Up to $1,500 Bonus

Get Deal

Expires 5/31/2026

New customers only. Earn up to a $1,500 bonus.

1. Select a savings offer and sign up: Choose and fund at least one high-yield savings account or CD on the Raisin platform to get started. Be sure to enter bonus code FRESHSTART during sign-up to be eligible for a cash bonus.
2. Deposit funds: The more you save, the more you can earn. Make a qualifying deposit(s) within 14 days of opening your account to set your bonus tier.
3. Maintain your deposit(s): Maintain your deposit(s) for 90 days from your first deposit date to earn your bonus.

Deposit	Cash Bonus
$10,000 - $24,999	$70
$25,000 - $49,999	$175
$50,000 - $99,999	$350
$100,000 - $199,999	$750
$200,000 or more	$1,500

High-Yield Savings Premier - 3.80% APY

Learn More

• No account fees
• Option to open individual or joint account
• FDIC insured up to $250,000 per depositor
• Only $500 minimum opening deposit

The annual percentage yield (APY) is accurate as of January 8, 2026 and subject to change at the Bank's discretion. Refer to product's website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. Member FDIC

Retirement Savings

You can open either a Roth or traditional IRA savings or IRA CD at Axos Bank. You can open an IRA savings account with just $250. But you'll need $1,000 to open an IRA CD.

Each account is FDIC insured and offers competitive APRs to help you grow your retirement savings.

Other Axos Bank Products

To round out their personal bank products, Axos also offers mortgage services, personal loans, and auto loans.

If you're looking for banking products for your business, Axos Bank has that too. They offer a host of banking and lending services for business and commercial customers. Small business owners can especially benefit from their checking, savings, money market, and CD accounts.

There's even Axos Invest, a robo-advisor that takes the heavy lifting out of managing your portfolio.

Reasons We Like Axos Bank

© CreditDonkey

Easily manage your finances on the go. With the Axos Bank app, you can quickly access all your accounts. You can also make mobile check deposits, pay bills, and transfer funds all in the same place. Most accounts come with ATM cards too, so you can access your money throughout the U.S.

No monthly service charges. If bank fees have got you stressed, Axos Bank is a great alternative. Many of their accounts don't have a monthly service fee, overdraft fees, or minimum balance requirements.

Reasons We Don't Like Axos Bank

Only 3 physical branches. If you prefer to bank in person at a brick-and-mortar location, you don't have many options with Axos Bank. They only have branches in San Diego, CA, Columbus, OH, and Las Vegas, NV.

For everyone else, your money is managed 100% electronically via online transfers, mobile deposits, or ATM withdrawals.

Not ideal for depositing cash. You can only deposit cash at an ATM that accepts cash deposits or via the Reload @ the Register program at retailers like 7-Eleven, CVS, Walmart, and more. Keep in mind that this costs $4.95 per deposit. If you need to make several cash deposits per month, this can really eat away at your funds.^[1]

Low CD rates for an online bank. Typically, online banks offer higher APYs. The lack of overhead allows banks to pass along the savings to its customers. While Axos has some of the highest rates available now for their savings accounts, their CD rates are quite low.

How It Compares

You're probably trying to narrow your search to just one online bank account. Here's how Axos Bank stacks up against these popular competitors:

Ally Bank
Ally Bank offers an online checking and savings account, along with a variety of CD and IRA options. They don't charge monthly service fees and you don't have to meet minimum monthly requirements. You do have to stick within the Ally ATM network to avoid ATM fees, though.

Capital One 360
Capital One 360 offers a couple of online checking account options as well as a multitude of savings account options. Capital One 360 also doesn't charge monthly service fees. They are known for their higher than average APR offerings, but you may want to watch for their other fees, as they can add up.

More Accounts to Consider:

Member FDIC

CIT Bank Platinum Savings - 3.75% APY

Learn More

• 3.75% APY with a balance of $5,000 or more
• 0.25% APY with a balance of less than $5,000
• $100 minimum opening deposit
• No monthly maintenance fee
• Member FDIC

Disclosures

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.

*APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

For complete list of account details and fees, see our Personal Account disclosures.

High Yield Savings Account - 3.80% APY

Learn More

on Raisin's Secure Website

• No fees
• $1 minimum deposit
• 24/7 online access
• FDIC insured

Member FDIC

UFB Portfolio Savings - Earn up to 3.26% APY

Learn More

• Earn up to 3.26% APY.*
• No monthly maintenance fees.
• No minimum deposit required to open an account.
• Access your funds 24/7 with easy-to-use digital banking tools.
• Enjoy peace of mind with FDIC insurance up to the maximum allowance limit – Certificate #35546.

Frequently Asked Questions

Is Axos Bank FDIC insured?
Your money is safe with this online-only bank. Each account at Axos Bank is insured for up to $250,000 to protect your money in case the bank fails.

How do I open an account?
Sign up for an account at any time through their website. You can also apply for a few of their bank accounts via their mobile app. All you need is a valid ID and your Social Security number. The whole process takes about 15 minutes.

If you currently bank elsewhere, Axos will provide the forms and steps to take to successfully switch. No need to worry about bouncing checks or missing bill payments.

Is Axos Bank safe?
Axos Bank takes security seriously. Your information is kept safe with two-factor authentication, bank-level SSL encryption, automatic logout after a period of inactivity, and more.

Bottom Line

Online banks have really stepped up their game, and it shows it just how many services they offer. Axos Bank has a wide range of products that work well for personal and business customers.

As for whether it's worth it for you, figure out how important a physical branch is to you. For some, in-person support might be non-negotiable.

Most Axos Bank accounts let you use any ATM in the U.S. without fees. Between that and their mobile app, you can probably do everything you need with a bank. If you have direct deposit set up and mainly use a debit card, it can be a great choice. With the lack of monthly fees, Axos Bank is a solid choice for online banking.

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