Axos Bank vs. Bank of America
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Axos BankAxos ONE Jan 21, 2026 | Bank of AmericaAdvantage Savings Jan 21, 2026 |
|---|---|---|
| APY | 4.31% | 0.01% |
Est. Earnings | $5,000+$216 $10,000+$431 $25,000+$1,078 | $5,000+$1 $10,000+$1 $25,000+$3 |
Min Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | The 4.31% 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 Bundle | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported |
Comparison Analysis
Comparing Axos Bank vs. Bank of America
As of Axos Bank offers an APY of 4.31% for its Axos ONE account, with a minimum balance of $0, compared to Bank of America's 0.01% APY for its Advantage Savings account, with a minimum balance of .
Axos Bank pays $430 more than Bank of America on a $10,000 balance after one year. Axos Bank pays $431, while Bank of America pays $1 - an APY advantage for Axos Bank.
In addition, Axos Bank also offers 3.75% APY for the Summit Savings account, with a minimum balance of $0.
Why Axos Bank?
- ✓Earn 0.51% APY on checking account
- ✓Access to 95,000 fee-free ATMs
- ✓Higher potential APY (3.75%-4.31% 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. $431 vs $1/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1078 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 $430 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.
Executive Summary as of
Axos Bank offers a competitive savings option with its Axos ONE account, providing a notable 4.31% APY when bundled with a checking account, which requires direct deposit or qualifying monthly deposits. In contrast, Bank of America's Advantage Savings account yields a mere 0.01% APY, with a minimum deposit of $100 and a monthly maintenance fee of $8, which can be waived under certain conditions. For those seeking higher returns, Axos Bank's Axos ONE stands out significantly, while its Summit Savings account offers a simpler alternative at 3.75% APY without the need for bundling or direct deposit.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
Axos Bank vs. Bank of America Savings Calculator
You earn $430 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+$431.00(4.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,431.00
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 | 4.31% Verified: 1/21/2026 ↘︎ 0.20%90d Change | 0.01% Verified: 1/21/2026 Stable (90d) |
| Product Name | Axos ONE | Advantage Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | N/A |
| Monthly Fee | $0 | $8 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | Not required, but is the easiest way to earn the highest APY. | None |
| Checking Bundle | Yes | No |
| Mobile Apps | iOS4.7 Android4.5 | iOS4.8 Android4.6 |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; highest limits for established users. |
| BBB Rating | A+ | A+ |
| Important Notes | The 4.31% 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 SiteGo to Axos Bank * Secure link to our partner | 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% | 4.31% | 0.61% | 0.01% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -3.8 | -4.6 | -0.0 | 0.0 |
Days Since Change | 41 | 50 | 357 | 36 |
12-Month High | 4.00% | 4.86% | 0.61% | 0.03% |
12-Month Low | 3.75% | 4.31% | 0.61% | 0.01% |
Adjustments / Mo | 0.08 | 0.34 | 0.00 | 0.17 |
Volatility Score | 0.027 | 0.038 | 0.000 | 0.120 |
How to read these metrics(Click to expand)
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