Axos Bank vs. Wells Fargo
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of Axos Bank vs. Wells Fargo
Key Metrics at a Glance
| Feature | Axos Bank | Wells Fargo |
|---|---|---|
| Top Savings APY | 4.51% Axos ONE | 0.05% Platinum Savings |
| Minimum to Open | $0 | $25 |
| Minimum Balance for Top APY | $0 | $1,000,000 |
| Note | This 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 0.05% 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. |
Axos Bank
Strengths
- Axos Bank offers a high APY of 4.51%, increased from 4.46% last month.
- Axos Bank has an A+ BBB rating and is BBB Accredited.
- No maintenance fees on Axos Bank accounts.
Potential Drawbacks
- Axos Bank has no physical branches.
- To earn the highest APY, users must meet specific deposit requirements.
Wells Fargo
Strengths
- Wells Fargo has branches and ATMs in 36 states and Washington, D.C.
- Wells Fargo's App Store rating is 4.9 and Google Play rating is 4.8.
Potential Drawbacks
- Wells Fargo's Platinum Savings offers a low APY of 0.05%, down from 2.51% last month.
- Wells Fargo has a D- BBB rating and is not BBB Accredited.
- Wells Fargo charges a maintenance fee of $12, waived only with a high balance.
Summary: Axos Bank provides a significantly higher APY of 4.51% compared to Wells Fargo's 0.05%, which has drastically decreased. Axos Bank also boasts a strong A+ BBB rating, while Wells Fargo has a poor D- rating. Additionally, Axos Bank has no maintenance fees or branches, while Wells Fargo offers physical locations but charges fees that can be avoided only with high balances.
→ As of October 21, 2025 Axos Bank offers an APY of 4.51% for its Axos ONE account, with a minimum balance of $0, compared to Wells Fargo's 0.05% APY for its Platinum Savings account, with a minimum balance of $1,000,000.
→ Axos Bank yields $446 more than Wells Fargo on a $10,000 balance after one year. Axos Bank pays $451, while Wells Fargo pays $5 - 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.
Calculate Savings Growth for Axos Bank vs Wells Fargo
All calculations are based on APY.
Axos Bank - Axos ONE
Top APY: 4.51%
Total savings breakdown:
- Interest earned: $2,766.7 (13.32%)
- Total contributions: $13,000 (62.60%)
- Initial deposit: $5,000 (24.08%)
Your total balance
$20,766.70
Effective APY: 4.51% (based on your deposit and contributions)
Total balance: $20,766.7
Earnings: $2,766.7
Wells Fargo - Platinum Savings
Top APY: 0.05%
⚠️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 OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Axos Bank's total earnings would be $2,738.1 higher than Wells Fargo's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Axos Bank's vs Wells Fargo's Savings Accounts
| Axos Bank | Wells Fargo | |||||
|---|---|---|---|---|---|---|
| Product | Axos ONE | Summit Savings | High Yield Savings | vs | Way2Save Savings | Platinum Savings |
| APY | 4.51% (as of 10/21/2025) | 4.00% (as of 10/21/2025) | 0.61% (as of 10/21/2025) | 0.01% (as of 10/21/2025) | 0.05% - 0.05% (as of 10/21/2025) | |
| Bundled Account | Yes | No | No | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | No | No | |
| Compound Frequency | Daily | Daily | Daily | Daily | Daily | |
| 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. | No | No | No | No | |
| Note | This 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 0.05% 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 | LEARN MORE at Axos Bank, Member FDIC | |||||
| App Store Rating | 4.7/5 | 4.9/5 | ||||
| Google Play Rating | 4.5/5 | 4.8/5 | ||||
| BBB Rating | A+ | D- | ||||
Comparative Historical APY Insights (Last 3 Months)
| Axos Bank | Wells Fargo | |||||
|---|---|---|---|---|---|---|
| Product | High Yield Savings | Summit Savings | Axos ONE | vs | Platinum Savings | Way2Save Savings |
| Latest APY | 0.61 % | 4.00 % | 4.51 % | 0.05 % | 0.01 % | |
| Trend | Sideways | Sideways | Sideways | Falling | Sideways | |
| Slope (bps/mo) | 0.0 | 0.0 | -3.8 | -35.9 | -0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | 0.61 | 0.92 | 0.00 | |
| Days Since Last Change | 97 | 97 | 18 | 4 | 97 | |
| High (-3 m) | 0.61 % | 4.00 % | 4.66 % | 2.51 % | 0.01 % | |
| Low (-3 m) | 0.61 % | 4.00 % | 4.46 % | 0.05 % | 0.01 % | |
| Draw-down from High | 0.0 % | 0.0 % | -3.2 % | -98.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 | 0.017 | 0.304 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 3 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 (-3 m)
- Highest APY in the last 98 days.
- Low (-3 m)
- Lowest APY in the last 98 days.
- Draw-down from High
- How far today sits below the 3-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.