Axos Bank vs. Upgrade
Comparing Axos Bank and Upgrade for high-yield savings: Axos Bank's Axos ONE pays 4.21% APY while Upgrade's Premier Savings pays 3.05% 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 $116 more than Upgrade annually ($421 vs $305).
Choose Axos Bank if getting the best rate matters most. Choose Upgrade if you want a no-strings-attached account.
Important Considerations
Axos Bank requires a checking account to unlock its top savings rate, while Upgrade offers its savings account standalone.
| Metric | Axos BankAxos ONE Mar 24, 2026 | UpgradePremier Savings Mar 24, 2026 |
|---|---|---|
| APY | 4.21% | 3.05% |
Est. Earnings | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$153 $10,000+$305 $25,000+$763 |
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 InsuredLow MinimumsGreat iOS AppGreat Android AppDaily 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 competitive savings product with its Axos ONE account, which provides a 4.21% APY when bundled with a checking account, making it a strong choice for those willing to meet the eligibility requirements. In contrast, Upgrade's Premier Savings account offers a lower APY of 3.05% with no direct deposit requirement and a minimum balance of $1,000. For those seeking simplicity without the need for a checking account, Axos Bank's Summit Savings provides a solid alternative at 3.75% APY, with no maintenance fees or minimum balance requirements. Overall, Axos Bank stands out as the winner based on the highest APY offered.
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 3.05%) on all balances
- ✓Offers 2 different high-yield savings options
Why Upgrade?
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 $305/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1053 vs $763/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 $116 more interest on a $10,000 balance than Upgrade's Premier 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
Top Market Contenders
Axos Bank vs. Upgrade Savings Calculator
You earn $116 more with Axos Bank than Upgrade 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
Upgrade
Premier Savings
Savings Breakdown
- Interest Earned+$305.00(3.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,305.00
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 $304 per year in interest.
Both Axos Bank and Upgrade dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Axos Bank | Upgrade |
|---|---|---|
| APY | 4.21% Verified: 3/24/2026 ↘︎ 0.10%90d Change | 3.05% Verified: 3/24/2026 Stable (90d) |
| Product Name | Axos ONE | Premier Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $1,000 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| 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 | 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 Upgrade Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Upgrade | ||
|---|---|---|---|---|
| Summit Savings | Axos ONE | High Yield Savings | Premier Savings | |
Current APY | 3.75% | 4.21% | 0.61% | 3.05% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -4.1 | -4.6 | -0.0 | -11.8 |
Days Since Change | 103 | 52 | 365 | 143 |
12-Month High | 4.00% | 4.86% | 0.61% | 4.14% |
12-Month Low | 3.75% | 4.21% | 0.61% | 3.05% |
Adjustments / Mo | 0.08 | 0.41 | 0.00 | 0.25 |
Volatility Score | 0.032 | 0.039 | 0.000 | 0.131 |
How to read these metrics(Click to expand)
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Compare Axos Bank's APY of 4.21% with other banks
Compare Upgrade's APY of 3.05% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Upgrade vs Ally Bank | 3.20% | $0 |
| Upgrade vs American Express | 3.20% | $0 |
| Upgrade vs Barclays | 3.85% | $0 |
| Upgrade vs Capital One | 3.20% | $0 |
| Upgrade vs Chime | 3.00% | $0 |
| Upgrade vs CIT Bank | 3.75% | $100 |
| Upgrade vs Discover Bank | 3.30% | $0 |
| Upgrade vs EverBank | 3.90% | $0 |
| Upgrade vs Marcus by Goldman Sachs | 3.65% | $0 |
| Upgrade vs Newtek Bank | 4.20% | $0.01 |
| Upgrade vs Openbank | 4.09% | $500 |
| Upgrade vs Pibank | 4.60% | $0 |
| Upgrade vs SoFi Bank | 4.00% | $0 |
| Upgrade vs Synchrony Bank | 3.50% | $0 |
| Upgrade vs Varo Bank | 5.00% | $0 |
| Upgrade vs Wealthfront | 4.20% | $0 |