Axos Bank
Online bank with high-yield savings products
Pros & Cons
Pros
- Competitive rates
- Full online banking
- No monthly fees
Cons
- No physical branches
- Limited investment products
The Brief
MoneyMade Verdict
Axos Bank is a strong pick for fee-averse digital savers who want competitive yields without the minimum balance games — but the top APY on the flagship Axos ONE account requires meeting direct deposit and balance thresholds that not every saver will hit consistently.
Axos Bank is a federally chartered online bank founded in 2000 and headquartered in San Diego, California. It was one of the first digital-only banks in the United States and operates entirely without physical branches — a model that allows it to pass overhead savings back to depositors through higher yields and lower fees.
The core use case: Axos's High Yield Savings Account (HYSA) is designed for individual savers who want a safe, FDIC-insured home for their cash that earns meaningfully more than a traditional bank savings account (the national average sits around 0.41% APY). It's a straightforward product — no investment risk, no lock-up period, and no monthly maintenance fees — making it a common choice for emergency funds, short-term savings goals, and cash reserves.
Head-to-Head
| Platform | Min | Target Return | Annual Fee | Liquidity | Accredited |
|---|---|---|---|---|---|
| — | 4–5.5% APY | No fees | Daily | No | |
| — | 4–7% | No fee on savings | Daily (savings) | No | |
| — | 4–5.5% APY | No fees | Daily | No | |
| — | 4–5% APY | No fees | Daily | No | |
| — | Market returns | 0–2% premium bond fee | Daily | No |
Also in Stocks
Acorns
stocks
Min $5Learn more →Affirm
stocks
Min N/ALearn more →Albert
stocks
Min N/ALearn more →Alinea
stocks
Min N/ALearn more →Ally Invest
stocks
Min N/ALearn more →American Express Savings
stocks
Min N/ALearn more →
Ready to invest?
Get started with Axos Bank in under five minutes.