Axos Bank vs. Bank of America
Comparing Axos Bank and Bank of America for savings: Axos Bank's Axos ONE pays 4.21% APY while Bank of America's Advantage Savings pays 0.01% 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 $420 more than Bank of America annually ($421 vs $1).
Choose Axos Bank if getting the best rate matters most. Choose Bank of America if you want a no-strings-attached account, or you want Zelle for quick transfers.
Important Considerations
Axos Bank requires a checking account to unlock its top savings rate, while Bank of America offers its savings account standalone.
| Metric | Axos BankAxos ONE Jun 5, 2026 | Bank of AmericaAdvantage Savings Feb 25, 2026 |
|---|---|---|
| APY | 4.21% | 0.01% |
Est. Earnings | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$1 $10,000+$1 $25,000+$3 |
Min Deposit | $0 | $100 |
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. | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking BundleDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often |
Comparison Analysis
Comparing Axos Bank vs. Bank of America
Executive Summary
Axos Bank offers a superior savings option with its Axos ONE account, which provides an impressive 4.21% APY when bundled with a checking account, making it ideal for customers who can meet the direct deposit or average balance requirements. In contrast, Bank of America's Advantage Savings account yields a minimal 0.01% APY, with a monthly maintenance fee of $8 unless certain conditions are met. For those seeking simplicity, Axos Bank also has the Summit Savings account at 3.75% APY, which does not require bundling or direct deposits. Overall, Axos Bank stands out significantly in terms of returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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 0.01%) on all balances
- ✓Offers 2 different high-yield savings options
Why Bank of America?
- ✓Fast transfers via Zelle® (up to $3,500 a day)
— Key Feature Differences —
Better Returns at $10,000
Axos BankAxos Bank's Axos ONE earns more on smaller deposits (approx. $421 vs $1/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1053 vs $3/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.
Shared Benefits
Over a 1-year period, Axos Bank's Axos ONE pays $420 more interest on a $10,000 balance than Bank of America's Advantage Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Axos Bank vs. Bank of America Savings Calculator
You earn $420 more with Axos Bank than Bank of America 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.
Axos Bank
Axos ONE
Savings Breakdown
- Interest Earned+$421.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,421.00
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Axos Bank | Bank of America |
|---|---|---|
| APY | 4.21% Verified: 6/5/2026 Stable (90d) | 0.01% Verified: 2/25/2026 Stable (90d) |
| Product Name | Axos ONE | Advantage Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | N/A |
| Monthly Fee | $0 | $8 |
| Compound Frequency | Daily | Monthly |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None | N/A |
| Direct Deposit Req. | Not required, but is the easiest way to earn the highest APY. | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; highest limits for established users. |
| BBB Rating | A+ | 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. | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. |
| Next Steps | Visit SiteVerify at Axos Bank Non-sponsored link to official site | Visit SiteVerify at Bank of America Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Bank of America | ||
|---|---|---|---|---|
| Summit Savings | Axos ONE | High Yield Savings | Advantage Savings | |
Current APY | 3.75% | 4.21% | 0.61% | 0.01% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -3.3 | -4.4 | 0.0 | 0.0 |
Days Since Change | 76 | 25 | 365 | 71 |
12-Month High | 4.00% | 4.86% | 0.61% | 0.03% |
12-Month Low | 3.75% | 4.21% | 0.61% | 0.01% |
Adjustments / Mo | 0.08 | 0.41 | 0.00 | 0.16 |
Volatility Score | 0.032 | 0.046 | 0.000 | 0.116 |
How to read these metrics(Click to expand)
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Compare Axos Bank's APY of 4.21% with other banks
Compare Bank of America's APY of 0.01% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Bank of America vs Ally Bank | 3.10% | $0 |
| Bank of America vs American Express | 3.10% | $0 |
| Bank of America vs Barclays | 3.75% | $0 |
| Bank of America vs Capital One | 3.00% | $0 |
| Bank of America vs Chime | 3.00% | $0 |
| Bank of America vs CIT Bank | 3.75% | $100 |
| Bank of America vs Discover Bank | 3.30% | $0 |
| Bank of America vs EverBank | 3.90% | $0 |
| Bank of America vs Marcus by Goldman Sachs | 3.40% | $0 |
| Bank of America vs Newtek Bank | 4.20% | $0.01 |
| Bank of America vs Openbank | 4.00% | $500 |
| Bank of America vs Pibank | 4.40% | $0 |
| Bank of America vs SoFi Bank | 3.80% | $0 |
| Bank of America vs Synchrony Bank | 3.40% | $0 |
| Bank of America vs Varo Bank | 5.00% | $0 |
| Bank of America vs Wealthfront | 4.20% | $0 |