Axos Bank vs. BMO Alto
Comparing Axos Bank and BMO Alto for high-yield savings: Axos Bank's Axos ONE pays 4.21% APY while BMO Alto's Savings Account pays 3.15% 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 $106 more than BMO Alto annually ($421 vs $315).
Choose Axos Bank if getting the best rate matters most, you're an iPhone user (no iOS app for BMO Alto), or you're an Android user (no Android app for BMO Alto). Choose BMO Alto if you want a no-strings-attached account.
Important Considerations
Axos Bank requires a checking account to unlock its top savings rate, while BMO Alto offers its savings account standalone.
| Metric | Axos BankAxos ONE Feb 21, 2026 | BMO AltoSavings Account Feb 21, 2026 |
|---|---|---|
| APY | 4.21% | 3.15% |
Est. Earnings | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$158 $10,000+$315 $25,000+$788 |
Min Deposit | $0 | $0 |
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. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking BundleDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsDaily CompoundingRate Changes Often |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Executive Summary
Axos Bank offers a standout savings option with its Axos ONE account, providing a competitive APY of 4.21% when bundled with a checking account, making it ideal for those who can meet the deposit requirements. Alternatively, the Summit Savings account offers a solid 3.75% APY without the need for a checking account or direct deposit, catering to those seeking simplicity. In comparison, BMO Alto's Savings Account yields a lower APY of 3.15%. Both banks feature online-only services, no maintenance fees, and no minimum balance requirements, but Axos Bank's higher APY positions it as the more attractive option.
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 3.15%) on all balances
- ✓Higher rated iOS app (4.7 vs 0.0)
- ✓Higher rated Android app (4.6 vs 0.0)
- ✓Offers 2 different high-yield savings options
Why BMO Alto?
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. $421 vs $315/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1053 vs $788/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.
Best Mobile App Experience
Axos BankAxos Bank offers an iOS app rated 4.7 (vs. 0.0) and Android app rated 4.6 (vs. 0.0)
Shared Benefits
Over a 1-year period, Axos Bank's Axos ONE pays $106 more interest on a $10,000 balance than BMO Alto's Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
* Secure link to our partner
Non-sponsored link to official site
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Axos Bank vs. BMO Alto Savings Calculator
You earn $106 more with Axos Bank than BMO Alto 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
BMO Alto
Savings Account
Savings Breakdown
- Interest Earned+$315.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,315.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $314 per year in interest.
Both Axos Bank and BMO Alto dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Axos Bank | BMO Alto |
|---|---|---|
| APY | 4.21% Verified: 2/21/2026 ↘︎ 0.30%90d Change | 3.15% Verified: 2/21/2026 ↘︎ 0.10%90d Change |
| Product Name | Axos ONE | Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | Not required, but is the easiest way to earn the highest APY. | None |
| Checking Bundle | Yes | No |
| Mobile Apps | iOS- Android- | |
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| 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. | - |
| Next Steps | Visit SiteGo to Axos Bank * Secure link to our partner | Visit SiteVerify at BMO Alto Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | BMO Alto | ||
|---|---|---|---|---|
| Summit Savings | Axos ONE | High Yield Savings | Savings Account | |
Current APY | 3.75% | 4.21% | 0.61% | 3.15% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -4.2 | -4.8 | 0.0 | -5.1 |
Days Since Change | 72 | 21 | 365 | 4 |
12-Month High | 4.00% | 4.86% | 0.61% | 4.00% |
12-Month Low | 3.75% | 4.21% | 0.61% | 3.15% |
Adjustments / Mo | 0.08 | 0.41 | 0.00 | 0.41 |
Volatility Score | 0.031 | 0.040 | 0.000 | 0.058 |
How to read these metrics(Click to expand)
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Compare Axos Bank's APY of 4.21% with other banks
Compare BMO Alto's APY of 3.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| BMO Alto vs Ally Bank | 3.20% | $0 |
| BMO Alto vs American Express | 3.30% | $0 |
| BMO Alto vs Bank of America | 0.01% | $100 |
| BMO Alto vs Barclays | 3.85% | $0 |
| BMO Alto vs Capital One | 3.30% | $0 |
| BMO Alto vs Chase Bank | 0.01% | $0 |
| BMO Alto vs Chime | 3.00% | $0 |
| BMO Alto vs CIT Bank | 3.75% | $100 |
| BMO Alto vs Citibank | 3.20% | $0 |
| BMO Alto vs Discover Bank | 3.30% | $0 |
| BMO Alto vs EverBank | 3.90% | $0 |
| BMO Alto vs Marcus by Goldman Sachs | 3.65% | $0 |
| BMO Alto vs Newtek Bank | 4.20% | $0.01 |
| BMO Alto vs Openbank | 4.09% | $500 |
| BMO Alto vs Pibank | 4.60% | $0 |
| BMO Alto vs SoFi Bank | 4.00% | $0 |
| BMO Alto vs Synchrony Bank | 3.50% | $0 |
| BMO Alto vs Varo Bank | 5.00% | $0 |
| BMO Alto vs Wealthfront | 3.95% | $0 |
| BMO Alto vs Wells Fargo | 0.05% | $25 |