American Express vs. Axos Bank
Comparing American Express and Axos Bank for high-yield savings: American Express's High Yield Savings Account pays 3.20% APY while Axos Bank's Axos ONE pays 4.21% APY.
Note: Axos Bank requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Axos Bank pays $101 more than American Express annually ($421 vs $320).
Choose American Express if you want a no-strings-attached account, or you want Zelle for quick transfers. Choose Axos Bank if getting the best rate matters most, or BBB rating matters to you.
Important Considerations
Axos Bank requires a checking account to unlock its top savings rate, while American Express offers its savings account standalone.
| Metric | American ExpressHigh Yield Savings Account Apr 21, 2026 | Axos BankAxos ONE Apr 21, 2026 |
|---|---|---|
| APY | 3.20% | 4.21% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$211 $10,000+$421 $25,000+$1,053 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | The 4.21% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. 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. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking BundleDaily CompoundingRate Changes Often |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing American Express vs. Axos Bank
Executive Summary
Axos Bank offers a competitive savings product with its Axos ONE account, providing a 4.21% APY when bundled with a checking account, making it the highest-yielding option compared to American Express's High Yield Savings Account, which offers a 3.20% APY. The Axos ONE account requires either a direct deposit of $1,500 or monthly qualifying deposits of at least $5,000 to achieve the top rate, while the Summit Savings account from Axos provides a simpler alternative at 3.75% APY without such requirements. Both banks operate online-only and have no maintenance fees or minimum balance requirements.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why American Express?
- ✓Fast transfers via Zelle®
Why Axos Bank?
- ✓Earn 0.51% APY on checking account
- ✓Access to 95,000 fee-free ATMs
- ✓Higher potential APY (3.75%-4.21% vs 3.20%) on all balances
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
Axos BankAxos Bank's Axos ONE earns more on smaller deposits (approx. $421 vs $320/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1053 vs $800/yr).
Best for Simplicity
Axos BankAxos Bank's Summit Savings offers 3.75% APY with no bundling, direct deposit requirement or caps.
Best for All-in-One Banking
Axos BankAxos Bank's Axos ONE pays a superior APY for customers who also open a checking account.
Best Mobile App Experience
American ExpressAmerican Express offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.9 (vs. 4.7)
Shared Benefits
Over a 1-year period, Axos Bank's Axos ONE pays $101 more interest on a $10,000 balance than American Express's High Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
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American Express vs. Axos Bank Savings Calculator
You earn $101 more with Axos Bank than American Express on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
American Express
High Yield Savings Account
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
Axos Bank
Axos ONE
Savings Breakdown
- Interest Earned+$421.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,421.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $319 per year in interest.
Both American Express and Axos Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | American Express | Axos Bank |
|---|---|---|
| APY | 3.20% Verified: 4/21/2026 ↘︎ 0.10%90d Change | 4.21% Verified: 4/21/2026 ↘︎ 0.10%90d Change |
| Product Name | High Yield Savings Account | Axos ONE |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | Not required, but is the easiest way to earn the highest APY. |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Requires Amex Rewards Checking; not available for standalone HYSA. | Not Supported |
| BBB Rating | F | A+ |
| Important Notes | - | The 4.21% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. 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. |
| Next Steps | Visit SiteVerify at American Express Non-sponsored link to official site | Visit SiteGo to Axos Bank * Secure link to our partner |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | American Express | Axos Bank | ||
|---|---|---|---|---|
| High Yield Savings Account | Summit Savings | Axos ONE | High Yield Savings | |
Current APY | 3.20% | 3.75% | 4.21% | 0.61% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -3.9 | -3.8 | -4.6 | -0.0 |
Days Since Change | 34 | 131 | 80 | 365 |
12-Month High | 3.70% | 4.00% | 4.66% | 0.61% |
12-Month Low | 3.20% | 3.75% | 4.21% | 0.61% |
Adjustments / Mo | 0.41 | 0.08 | 0.33 | 0.00 |
Volatility Score | 0.041 | 0.032 | 0.038 | 0.000 |
How to read these metrics(Click to expand)
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