Axos Bank vs. Charles Schwab Bank
Comparing Axos Bank and Charles Schwab Bank for savings: Axos Bank's Axos ONE pays 4.21% APY while Charles Schwab Bank's Schwab Bank Investor Savings™ pays 0.15% 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 $406 more than Charles Schwab Bank annually ($421 vs $15).
Choose Axos Bank if getting the best rate matters most, or you're an Android user. Choose Charles Schwab Bank if you want a no-strings-attached account, or you want Zelle for quick transfers.
Important Considerations
Axos Bank requires a checking account to unlock its top savings rate, while Charles Schwab Bank offers its savings account standalone.
| Metric | Axos BankAxos ONE Feb 6, 2026 | Charles Schwab BankSchwab Bank Investor Savings™ Feb 6, 2026 |
|---|---|---|
| APY | 4.21% | 0.15% |
Est. Earnings | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$8 $10,000+$15 $25,000+$38 |
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 MinimumsGreat iOS AppIn-Person AccessZelle® SupportedDaily CompoundingStable Rate |
Comparison Analysis
Comparing Axos Bank vs. Charles Schwab Bank
Executive Summary
Axos Bank offers a competitive savings option with its Axos ONE product, which provides a high APY of 4.21% when bundled with a checking account, requiring either a direct deposit of $1,500 or $5,000 in total monthly qualifying deposits. Alternatively, the Summit Savings account offers a solid 3.75% APY with no direct deposit or bundling requirements, making it a straightforward choice for savers. In contrast, Charles Schwab Bank's Schwab Bank Investor Savings™ yields a significantly lower APY of 0.15%. Overall, Axos Bank's offerings present a substantial advantage in terms of interest rates.
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 0.15%) on all balances
- ✓Higher rated Android app (4.5 vs 2.9)
- ✓Offers 2 different high-yield savings options
Why Charles Schwab Bank?
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
Axos BankAxos Bank's Axos ONE earns more on smaller deposits (approx. $421 vs $15/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1053 vs $38/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 $406 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*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. Charles Schwab Bank Savings Calculator
You earn $406 more with Axos Bank than Charles Schwab Bank 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
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$15.00(0.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,015.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Axos Bank | Charles Schwab Bank |
|---|---|---|
| APY | 4.21% Verified: 2/6/2026 ↘︎ 0.30%90d Change | 0.15% Verified: 2/6/2026 Stable (90d) |
| Product Name | Axos ONE | Schwab Bank Investor Savings™ |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None | N/A |
| Direct Deposit Req. | Not required, but is the easiest way to earn the highest APY. | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Integrated into Investor Checking; high liquidity. |
| 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 Charles Schwab Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Charles Schwab Bank | ||
|---|---|---|---|---|
| Summit Savings | Axos ONE | High Yield Savings | Schwab Bank Investor Savings™ | |
Current APY | 3.75% | 4.21% | 0.61% | 0.15% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -4.1 | -4.7 | -0.0 | 0.0 |
Days Since Change | 57 | 6 | 365 | 365 |
12-Month High | 4.00% | 4.86% | 0.61% | 0.15% |
12-Month Low | 3.75% | 4.21% | 0.61% | 0.15% |
Adjustments / Mo | 0.08 | 0.41 | 0.00 | 0.00 |
Volatility Score | 0.029 | 0.040 | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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Compare Axos Bank's APY of 4.21% with other banks
Compare Charles Schwab Bank's APY of 0.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Charles Schwab Bank vs Ally Bank | 3.30% | $0 |
| Charles Schwab Bank vs American Express | 3.30% | $0 |
| Charles Schwab Bank vs Bank of America | 0.01% | $100 |
| Charles Schwab Bank vs Barclays | 4.00% | $0 |
| Charles Schwab Bank vs Capital One | 3.30% | $0 |
| Charles Schwab Bank vs Chase Bank | 0.01% | $0 |
| Charles Schwab Bank vs Chime | 3.00% | $0 |
| Charles Schwab Bank vs CIT Bank | 3.75% | $100 |
| Charles Schwab Bank vs Citibank | 3.20% | $0 |
| Charles Schwab Bank vs Discover Bank | 3.30% | $0 |
| Charles Schwab Bank vs EverBank | 3.90% | $0 |
| Charles Schwab Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Charles Schwab Bank vs Newtek Bank | 4.20% | $0.01 |
| Charles Schwab Bank vs Openbank | 4.09% | $500 |
| Charles Schwab Bank vs Pibank | 4.60% | $0 |
| Charles Schwab Bank vs SoFi Bank | 4.00% | $0 |
| Charles Schwab Bank vs Synchrony Bank | 3.50% | $0 |
| Charles Schwab Bank vs Varo Bank | 5.00% | $0 |
| Charles Schwab Bank vs Wealthfront | 3.95% | $0 |
| Charles Schwab Bank vs Wells Fargo | 0.05% | $25 |