Axos Bank vs Bank Of America
High-Yield Savings Accounts Comparison

Last Updated: June 20, 2025

Summary of Axos Bank vs. Bank of America

As of June 20, 2025 Axos Bank offers an APY of 4.66% for its Axos ONE account, compared to Bank of America's 0.01% APY for its Advantage Savings account.

Axos Bank yields $465 more than Bank of America on a $10,000 balance after one year. Axos Bank pays $466, while Bank of America pays $1 - an APY advantage for Axos Bank.

In addition, Axos Bank also offers 0.61% APY for the High Yield Savings account.

Axos Bank

Strengths

  • Axos Bank offers a high APY of 4.66% for the ONE savings and checking bundle.
  • Axos Bank has an A+ BBB rating and is BBB Accredited.
  • No maintenance fees for Axos Bank accounts.

Potential Drawbacks

  • Axos Bank requires a direct deposit of $1,500/month to earn the high APY.
  • Only online access is available for Axos Bank accounts.
  • No physical branches for Axos Bank.

Bank of America

Strengths

  • Bank of America has a higher App Store rating of 4.8.
  • Bank of America allows a low minimum deposit of $100 for its Advantage Savings account.
  • Branch access is available for Bank of America customers.

Potential Drawbacks

  • Bank of America offers a significantly lower APY of 0.01%.
  • Bank of America charges an $8 monthly maintenance fee unless conditions are met.
  • No high APY savings account without direct deposit requirement at Bank of America.
Summary: Axos Bank provides a much higher APY of 4.66% with no maintenance fees, but requires a direct deposit of $1,500/month. In contrast, Bank of America has a low APY of 0.01% and charges an $8 fee unless conditions are met, but offers branch access and a higher App Store rating. Overall, Axos Bank is more beneficial for savers focused on high yields, while Bank of America offers more traditional banking features.

Compare Axos Bank's vs Bank of America's Savings Accounts

Axos BankBank of America
ProductAxos ONEHigh Yield SavingsvsAdvantage Savings
APY
4.66% (as of 6/20/2025)0.61% (as of 6/20/2025)0.01% (as of 6/20/2025)
Bundled Account
YesNoNo
FDIC-insured
YesYesYes
Online OnlyYesYesNo
Compound Frequency
DailyDailyMonthly
Minimum Deposit$0$0$100
Minimum Balance for APY$0$0N/A
Maintenance Fee$0$0$8
Direct Deposit Required
Yes. Min. $1,500/month to ONE Checking.NoNo
NoteThis APY is only available in the Axos ONE savings and checking bundle. Must maintain $1,500 on avg. daily balance in ONE Checking for APY.N/AAPY 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.
Visit BankAxos ONEHigh Yield SavingsAdvantage Savings
App Store Rating4.7/54.8/5
Google Play Rating4.4/54.6/5
BBB RatingA+A

Comparative Historical APY Insights (Last 5 Months)

Axos BankBank of America
ProductHigh Yield SavingsAxos ONEvsAdvantage Savings
Latest APY0.61 %4.66 %0.01 %
TrendSidewaysFallingSideways
Slope (bps/mo)0.0-6.1-0.0
Rate Changes / Mo0.000.210.00
Days Since Last Change14381143
High (-5 m)0.61 %4.86 %0.01 %
Low (-5 m)0.61 %4.66 %0.01 %
Draw-down from High0.0 %-4.1 %0.0 %
Volatility (CV)0.0000.0210.000
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 5 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 (-5 m)
Highest APY in the last 144 days.
Low (-5 m)
Lowest APY in the last 144 days.
Draw-down from High
How far today sits below the 5-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 Axos Bank vs Bank of America

All calculations are based on APY.

Axos 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 Details

Bank of America

APY: 0.01%

Total savings breakdown:

  • Interest earned: $0.1 (0.01%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (99.99%)

Your total balance

$1,000.10

Effective APY: 0.01% (based on your deposit and contributions)

Total balance: $1,000.1

Earnings: $0.1

Bank Details

After 1 year Axos Bank would earn you $46.5 more than Bank of America.

More Comparisons

Compare Axos Bank's APY of 4.66% with other banks
Compare Bank of America's APY of 0.01% with other banks