Axos Bank vs. Bank of America
Compare rates, requirements, and features side-by-side to find the best option for you.
Axos Bank
Axos ONE
4.31%APYDec 6, 2025FDIC InsuredChecking BundleNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Axos Bank
Axos ONE
Bank of America
Advantage Savings
0.01%APYDec 6, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Bank of America
Advantage Savings
Comparison Analysis
Comparing Axos Bank vs. Bank of America
Why Axos Bank?
- ✓Earn 0.51% APY on checking account
- ✓Access to 95,000 fee-free ATMs
- ✓Higher potential APY (4.00%-4.31% vs 0.01%) on all balances
- ✓Offers 2 different high-yield savings options
Why Bank of America?
No distinct advantages found vs Axos Bank.
— 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. $1077 vs $3/yr).
Best for Simplicity
Axos BankAxos Bank's Summit Savings offers 4.00% 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.
Executive Summary
Axos Bank offers a standout savings product, the Axos ONE, with an impressive APY of 4.31%, available through a savings and checking bundle. This product requires either a direct deposit of $1,500 or total monthly qualifying deposits of at least $5,000 to achieve the highest rate. Alternatively, the Summit Savings account provides a solid APY of 4.00% without the need for bundling or direct deposit. In contrast, Bank of America's Advantage Savings account offers a significantly lower APY of just 0.01%, making it less competitive. Overall, Axos Bank's offerings provide much higher returns compared to Bank of America.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Axos Bank and Bank of America.
| Feature | Axos Bank | Bank of America |
|---|---|---|
| APY | 4.31% Verified: 12/6/2025 ↘︎ 0.15%90d Change | 0.01% Verified: 12/6/2025 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. | None | None |
| Checking Bundle | Yes | No |
| Mobile Apps | iOS4.7 Android4.6 | iOS4.8 Android4.6 |
| 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 | SponsoredOpen Account |
Savings Comparison
Axos Bank earns $2,630.2 more than Bank of America.
Axos Bank
Axos ONE
Savings Breakdown
- Interest Earned+$2,635.90(12.8%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,635.90
Sponsored Link
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$5.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,005.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Bank of America | ||
|---|---|---|---|---|
| High Yield Savings | Summit Savings | Axos ONE | Advantage Savings | |
Current APY | 0.61% | 4.00% | 4.31% | 0.01% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -0.0 | 0.0 | -4.2 | -0.0 |
Days Since Change | 311 | 159 | 4 | 311 |
10-Month High | 0.61% | 4.00% | 4.86% | 0.01% |
10-Month Low | 0.61% | 4.00% | 4.31% | 0.01% |
Adjustments / Mo | 0.00 | 0.00 | 0.39 | 0.00 |
Volatility Score | 0.000 | 0.000 | 0.031 | 0.000 |
How to read these metrics(Click to expand)
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