Axos Bank vs Wells Fargo
High-Yield Savings Accounts Comparison

Last Updated: September 3, 2025

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Summary of Axos Bank vs. Wells Fargo

As of September 3, 2025 Axos Bank offers an APY of 4.46% for its Axos ONE account, compared to Wells Fargo's 2.51% APY for its Platinum Savings account.

Axos Bank yields $441 more than Wells Fargo on a $10,000 balance after one year. Axos Bank pays $446, while Wells Fargo pays $5 (with an effective APY of 0.05%) - an APY advantage for Axos Bank.

In addition, Axos Bank also offers 4.00% APY for the Summit Savings account, while Wells Fargo offers 0.01% APY for the Way2Save Savings account.

Axos Bank

Strengths

  • Axos Bank offers a high APY of 4.46% with the Axos ONE account.
  • Axos Bank has an A+ BBB rating and is BBB Accredited.
  • No maintenance fees for any accounts at Axos Bank.

Potential Drawbacks

  • Axos Bank has no physical branches.
  • To earn the highest APY, specific conditions must be met.

Wells Fargo

Strengths

  • Wells Fargo has physical branches and ATMs in 36 states.
  • Wells Fargo offers a tiered savings account with a 2.51% APY for high balances.

Potential Drawbacks

  • Wells Fargo has a low BBB rating of F and is not BBB Accredited.
  • Wells Fargo charges a maintenance fee of $12 unless conditions are met.
Summary: Axos Bank provides a significantly higher APY of 4.46% for its high-yield savings compared to Wells Fargo's 2.51% for high balances. However, Wells Fargo offers physical branches, while Axos Bank operates online only. Additionally, Axos Bank has a strong A+ BBB rating, contrasting with Wells Fargo's poor F rating. Maintenance fees apply at Wells Fargo, but Axos Bank has no fees across its accounts.

Compare Axos Bank's vs Wells Fargo's Savings Accounts

Axos BankWells Fargo
ProductAxos ONESummit SavingsHigh Yield SavingsvsWay2Save SavingsPlatinum Savings
APY
4.46% (as of 9/3/2025)4.00% (as of 9/3/2025)0.61% (as of 9/3/2025)0.01% (as of 9/3/2025)0.05% - 2.51% (as of 9/3/2025)
Bundled Account
YesNoNoNoYes
FDIC-insured
YesYesYesYesYes
Online OnlyYesYesYesNoNo
Compound Frequency
DailyDailyDailyDailyDaily
Minimum Deposit$0$0$0$25$25
Minimum Balance for APY$0$0$0$0$1,000,000
Maintenance Fee$0$0$0$5. Waived under some circumstances.$12. Waived with $3,500 minimum daily balance.
Direct Deposit Required
No. Not required, but is the easiest way to earn the highest APY.NoNoNoNo
NoteThis APY is only available with the Axos ONE savings and checking bundle. 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.This is a tiered savings account where rates vary based on the balance. The 2.51% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details.
Sponsored Link
App Store Rating4.7/54.9/5
Google Play Rating4.5/54.8/5
BBB RatingA+F

Comparative Historical APY Insights (Last 2 Months)

Axos BankWells Fargo
ProductHigh Yield SavingsSummit SavingsAxos ONEvsPlatinum SavingsWay2Save Savings
Latest APY0.61 %4.00 %4.46 %2.51 %0.01 %
TrendSidewaysSidewaysFallingSidewaysSideways
Slope (bps/mo)-0.00.0-16.30.00.0
Rate Changes / Mo0.000.000.600.000.00
Days Since Last Change4949335049
High (-2 m)0.61 %4.00 %4.66 %2.51 %0.01 %
Low (-2 m)0.61 %4.00 %4.46 %2.51 %0.01 %
Draw-down from High0.0 %0.0 %-4.3 %0.0 %0.0 %
Volatility (CV)0.0000.0000.0210.0000.000
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 2 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 (-2 m)
Highest APY in the last 50 days.
Low (-2 m)
Lowest APY in the last 50 days.
Draw-down from High
How far today sits below the 2-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 Wells Fargo

All calculations are based on APY.

Axos Bank

APY: 4.46%

Total savings breakdown:

  • Interest earned: $2,733.9 (13.19%)
  • Total contributions: $13,000 (62.70%)
  • Initial deposit: $5,000 (24.12%)

Your total balance

$20,733.90

Effective APY: 4.46% (based on your deposit and contributions)

Total balance: $20,733.9

Earnings: $2,733.9

Wells Fargo

APY: 2.51%

⚠️The higher APY only applies once your balance reaches $1,000,000.

Total savings breakdown:

  • Interest earned: $28.6 (0.16%)
  • Total contributions: $13,000 (72.11%)
  • Initial deposit: $5,000 (27.73%)

Your total balance

$18,028.60

Effective APY: 0.05% (based on your deposit and contributions)

Total balance: $18,028.6

Earnings: $28.6

Bank Overview

With a $5,000 initial deposit and $13,000 in total contributions over 5 years, Axos Bank's total earnings would be $2,705.3 higher than Wells Fargo's total earnings.

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

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