American Express vs Axos Bank
High-Yield Savings Accounts Comparison
Last Updated: July 15, 2025
Summary of American Express vs. Axos Bank
As of July 15, 2025 American Express offers an APY of 3.60% for its High Yield Savings Account account, compared to Axos Bank's 4.66% APY for its Axos ONE account.
Axos Bank yields $106 more than American Express on a $10,000 balance after one year. American Express pays $360, while Axos Bank pays $466 - an APY advantage for Axos Bank.
In addition, Axos Bank also offers 4.00% APY for the Summit Savings account.
American Express
Strengths
- American Express offers a competitive APY of 3.60% for its High Yield Savings Account.
- No maintenance fees or minimum balance requirements.
- High App Store rating of 4.9.
Potential Drawbacks
- American Express has an F rating from the BBB and is not accredited.
- Only one savings account option available.
- Google Play rating is lower at 3.8.
Axos Bank
Strengths
- Axos Bank offers a higher APY of 4.66% with the Axos ONE savings and checking bundle.
- BBB accredited with an A+ rating, indicating higher trustworthiness.
- Multiple savings account options, including Summit Savings at 4.00%.
Potential Drawbacks
- Axos Bank has a lower App Store rating of 4.7 compared to American Express.
- Direct deposit is not required but is needed for the highest APY.
- No branch locations available.
Summary: American Express provides a solid APY of 3.60% but lacks BBB accreditation and has limited account options. In contrast, Axos Bank offers a superior APY of 4.66% with multiple savings accounts and an A+ BBB rating, though it requires a direct deposit for the highest rate. Both banks operate online only, with Axos having a lower App Store rating.
Compare American Express' vs Axos Bank's Savings Accounts
| American Express | Axos Bank | ||||
|---|---|---|---|---|---|
| Product | High Yield Savings Account | vs | Axos ONE | Summit Savings | High Yield Savings |
| APY | 3.60% (as of 7/15/2025) | 4.66% (as of 7/16/2025) | 4.00% (as of 7/16/2025) | 0.61% (as of 7/16/2025) | |
| Bundled Account | No | Yes | No | No | |
| FDIC-insured | Yes | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | $0 | $0 | |
| Maintenance Fee | $0 | $0 | $0 | $0 | |
| Direct Deposit Required | No | No. Not required, but is the easiest way to earn the highest APY. | No | No | |
| Note | N/A | This APY is only available with the Axos ONE savings and checking bundle. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. | N/A | N/A | |
| Visit Bank | High Yield Savings Account | Axos ONE | Summit Savings | High Yield Savings | |
| App Store Rating | 4.9/5 | 4.7/5 | |||
| Google Play Rating | 3.8/5 | 4.4/5 | |||
| BBB Rating | F | A+ | |||
Comparative Historical APY Insights (Last 6 Months)
| American Express | Axos Bank | ||||
|---|---|---|---|---|---|
| Product | High Yield Savings Account | vs | High Yield Savings | Summit Savings | Axos ONE |
| Latest APY | 3.60 % | 0.61 % | 4.00 % | 4.66 % | |
| Trend | Sideways | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | -3.9 | -0.0 | 0.0 | -4.9 | |
| Rate Changes / Mo | 0.34 | 0.00 | 0.00 | 0.17 | |
| Days Since Last Change | 69 | 175 | 16 | 106 | |
| High (-6 m) | 3.80 % | 0.61 % | 4.00 % | 4.86 % | |
| Low (-6 m) | 3.60 % | 0.61 % | 4.00 % | 4.66 % | |
| Draw-down from High | -5.3 % | 0.0 % | 0.0 % | -4.1 % | |
| Volatility (CV) | 0.019 | 0.000 | 0.000 | 0.021 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 6 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-6 m)
- Highest APY in the last 175 days.
- Low (-6 m)
- Lowest APY in the last 175 days.
- Draw-down from High
- How far today sits below the 6-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for American Express vs Axos Bank
All calculations are based on APY.
American Express
APY: 3.60%
Total savings breakdown:
- Interest earned: $36 (3.47%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.53%)
Your total balance
$1,036.00
Effective APY: 3.60% (based on your deposit and contributions)
Total balance: $1,036
Earnings: $36
Bank DetailsAxos Bank
APY: 4.66%
Total savings breakdown:
- Interest earned: $46.6 (4.45%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.55%)
Your total balance
$1,046.60
Effective APY: 4.66% (based on your deposit and contributions)
Total balance: $1,046.6
Earnings: $46.6
Bank DetailsAfter 1 year American Express would earn you $10.6 less than Axos Bank.
More Comparisons
Compare American Express' APY of 3.60% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| American Express vs Ally Bank | 3.50% | $0 |
| American Express vs Bank of America | 0.01% | $100 |
| American Express vs Barclays | 4.10% | $0 |
| American Express vs Capital One | 3.50% | $0 |
| American Express vs Chase Bank | 0.01% | $0 |
| American Express vs Chime | 3.75% | $0 |
| American Express vs CIT Bank | 4.00% | $100 |
| American Express vs Discover Bank | 3.50% | $0 |
| American Express vs Fitness Bank | 5.00% | $100 |
| American Express vs Marcus by Goldman Sachs | 3.65% | $0 |
| American Express vs Presidential Bank | 4.50% | $5,000 |
| American Express vs SoFi Bank | 3.80% | $0 |
| American Express vs Synchrony Bank | 3.80% | $0 |
| American Express vs Varo Bank | 5.00% | $0 |
| American Express vs Wells Fargo | 2.51% | $25 |
Compare Axos Bank's APY of 4.66% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Axos Bank vs Ally Bank | 3.50% | $0 |
| Axos Bank vs Bank of America | 0.01% | $100 |
| Axos Bank vs Barclays | 4.10% | $0 |
| Axos Bank vs Capital One | 3.50% | $0 |
| Axos Bank vs Chase Bank | 0.01% | $0 |
| Axos Bank vs Chime | 3.75% | $0 |
| Axos Bank vs CIT Bank | 4.00% | $100 |
| Axos Bank vs Discover Bank | 3.50% | $0 |
| Axos Bank vs Fitness Bank | 5.00% | $100 |
| Axos Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Axos Bank vs Presidential Bank | 4.50% | $5,000 |
| Axos Bank vs SoFi Bank | 3.80% | $0 |
| Axos Bank vs Synchrony Bank | 3.80% | $0 |
| Axos Bank vs Varo Bank | 5.00% | $0 |
| Axos Bank vs Wells Fargo | 2.51% | $25 |