Axos Bank vs. Santander Bank
Comparing Axos Bank and Santander Bank for savings: Axos Bank's Axos ONE pays 4.21% APY while Santander Bank's Santander Savings pays 0.01% 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 $420 more than Santander Bank annually ($421 vs $1).
Choose Axos Bank if getting the best rate matters most, or you're an Android user. Choose Santander Bank if you want a no-strings-attached account, you value in-person banking, or you want Zelle for quick transfers.
Important Considerations
Axos Bank requires a checking account to unlock its top savings rate, while Santander Bank offers its savings account standalone.
| Metric | Axos BankAxos ONE Jun 5, 2026 | Santander BankSantander Savings Jan 29, 2026 |
|---|---|---|
| APY | 4.21% | 0.01% |
Est. Earnings | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$1 $10,000+$1 $25,000+$3 |
Min Deposit | $0 | $25 |
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 InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Axos Bank vs. Santander Bank
Executive Summary
Axos Bank offers a competitive savings product with its Axos ONE account, providing a high APY of 4.21%, which is significantly superior to Santander Bank's savings option, which yields only 0.01% APY. The Axos ONE account requires a checking account and offers the highest returns when linked with direct deposits, although direct deposit is not mandatory. For those seeking simplicity, Axos Bank also has the Summit Savings account with a 3.75% APY and no direct deposit requirements. In contrast, Santander's savings account has a minimum deposit of $25 and a maintenance fee of $1, making it less attractive.
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 0.01%) on all balances
- ✓Higher rated Android app (4.6 vs 4.1)
- ✓Offers 2 different high-yield savings options
Why Santander Bank?
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
- ✓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 $1/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1053 vs $3/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 $420 more interest on a $10,000 balance than Santander Bank's Santander Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
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Axos Bank vs. Santander Bank Savings Calculator
You earn $420 more with Axos Bank than Santander 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
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Axos Bank | Santander Bank |
|---|---|---|
| APY | 4.21% Verified: 6/5/2026 Stable (90d) | 0.01% Verified: 1/29/2026 Stable (90d) |
| Product Name | Axos ONE | Santander Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $1 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None | Primarily in the Northeast and Miami, Florida |
| 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 Branch-based retail accounts only. |
| BBB Rating | A+ | Not Rated |
| 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 SiteVerify at Axos Bank Non-sponsored link to official site | Visit SiteVerify at Santander Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Santander Bank | ||
|---|---|---|---|---|
| Summit Savings | Axos ONE | High Yield Savings | Santander Savings | |
Current APY | 3.75% | 4.21% | 0.61% | 0.01% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -3.3 | -4.4 | -0.0 | -0.2 |
Days Since Change | 49 | -2 | 365 | 132 |
12-Month High | 4.00% | 4.86% | 0.61% | 0.03% |
12-Month Low | 3.75% | 4.21% | 0.61% | 0.01% |
Adjustments / Mo | 0.08 | 0.41 | 0.00 | 0.08 |
Volatility Score | 0.032 | 0.049 | 0.000 | 0.462 |
How to read these metrics(Click to expand)
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Compare Axos Bank's APY of 4.21% with other banks
Compare Santander Bank's APY of 0.01% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Santander Bank vs Ally Bank | 3.10% | $0 |
| Santander Bank vs American Express | 3.10% | $0 |
| Santander Bank vs Barclays | 3.75% | $0 |
| Santander Bank vs Capital One | 3.00% | $0 |
| Santander Bank vs Chime | 3.00% | $0 |
| Santander Bank vs CIT Bank | 3.75% | $100 |
| Santander Bank vs Discover Bank | 3.30% | $0 |
| Santander Bank vs EverBank | 3.90% | $0 |
| Santander Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Santander Bank vs Newtek Bank | 4.20% | $0.01 |
| Santander Bank vs Openbank | 4.00% | $500 |
| Santander Bank vs Pibank | 4.40% | $0 |
| Santander Bank vs SoFi Bank | 3.80% | $0 |
| Santander Bank vs Synchrony Bank | 3.40% | $0 |
| Santander Bank vs Varo Bank | 5.00% | $0 |
| Santander Bank vs Wealthfront | 4.20% | $0 |