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 Bank | Bank of America | |||
|---|---|---|---|---|
| Product | Axos ONE | High Yield Savings | vs | Advantage 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 | Yes | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | No | |
| Compound Frequency | Daily | Daily | Monthly | |
| Minimum Deposit | $0 | $0 | $100 | |
| Minimum Balance for APY | $0 | $0 | N/A | |
| Maintenance Fee | $0 | $0 | $8 | |
| Direct Deposit Required | Yes. Min. $1,500/month to ONE Checking. | No | No | |
| Note | This 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/A | 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. | |
| Visit Bank | Axos ONE | High Yield Savings | Advantage Savings | |
| App Store Rating | 4.7/5 | 4.8/5 | ||
| Google Play Rating | 4.4/5 | 4.6/5 | ||
| BBB Rating | A+ | A | ||
Comparative Historical APY Insights (Last 5 Months)
| Axos Bank | Bank of America | |||
|---|---|---|---|---|
| Product | High Yield Savings | Axos ONE | vs | Advantage Savings |
| Latest APY | 0.61 % | 4.66 % | 0.01 % | |
| Trend | Sideways | Falling | Sideways | |
| Slope (bps/mo) | 0.0 | -6.1 | -0.0 | |
| Rate Changes / Mo | 0.00 | 0.21 | 0.00 | |
| Days Since Last Change | 143 | 81 | 143 | |
| High (-5 m) | 0.61 % | 4.86 % | 0.01 % | |
| Low (-5 m) | 0.61 % | 4.66 % | 0.01 % | |
| Draw-down from High | 0.0 % | -4.1 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.021 | 0.000 | |
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 DetailsBank 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 DetailsAfter 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
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Axos Bank vs Ally Bank | 3.50% | $0 |
| Axos Bank vs American Express | 3.60% | $0 |
| Axos Bank vs Barclays | 4.10% | $0 |
| Axos Bank vs Capital One | 3.60% | $0 |
| Axos Bank vs Chase Bank | 0.01% | $0 |
| Axos Bank vs Chime | 3.75% | $0 |
| Axos Bank vs CIT Bank | 4.00% | $100 |
| Axos Bank vs Discover Bank | 3.60% | $0 |
| Axos Bank vs Fitness Bank | 5.00% | $100 |
| Axos Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Axos Bank vs SoFi Bank | 3.80% | $0 |
| Axos Bank vs Synchrony Bank | 3.80% | $0 |
| Axos Bank vs Varo Bank | 5.00% | $0 |
Compare Bank of America's APY of 0.01% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Bank of America vs Ally Bank | 3.50% | $0 |
| Bank of America vs American Express | 3.60% | $0 |
| Bank of America vs Barclays | 4.10% | $0 |
| Bank of America vs Capital One | 3.60% | $0 |
| Bank of America vs Chase Bank | 0.01% | $0 |
| Bank of America vs Chime | 3.75% | $0 |
| Bank of America vs CIT Bank | 4.00% | $100 |
| Bank of America vs Discover Bank | 3.60% | $0 |
| Bank of America vs Fitness Bank | 5.00% | $100 |
| Bank of America vs Marcus by Goldman Sachs | 3.65% | $0 |
| Bank of America vs SoFi Bank | 3.80% | $0 |
| Bank of America vs Synchrony Bank | 3.80% | $0 |
| Bank of America vs Varo Bank | 5.00% | $0 |