Axos Bank vs. Bank of America
Axos Bank's Axos ONE Savings pays 4.21% APY while Bank of America's Advantage Savings pays 0.04% 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 $417 more than Bank of America annually ($421 vs $4).
Choose Axos Bank if getting the best rate matters most. Choose Bank of America 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 Bank of America offers its savings account standalone.
| Metric | Axos BankAxos ONE Savings Aug 21, 2026 | Bank of AmericaAdvantage Savings Aug 21, 2026 |
|---|---|---|
| APY | 3.50% - 4.21% | 0.04% |
Est. Earnings | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$2 $10,000+$4 $25,000+$10 |
Min Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. 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. | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking BundleDaily CompoundingStable Rate | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often |
Comparison Analysis
Comparing Axos Bank vs. Bank of America
Executive Summary
A detailed summary for this comparison is being prepared. Check back soon.
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?
- ✓Access to 95,000 fee-free ATMs
- ✓Higher potential APY (3.50%-4.21% vs 0.01%-0.04%) on all balances
Why Bank of America?
- ✓Fast transfers via Zelle® (up to $3,500 a day)
Key Feature Differences
Better Returns at $10,000
Axos BankAxos Bank's Axos ONE Savings earns more on smaller deposits (approx. $421 vs $4/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE Savings pulls ahead with larger amounts (approx. $1053 vs $10/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 Savings pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period, Axos Bank's Axos ONE Savings pays $417 more interest on a $10,000 balance than Bank of America's Advantage 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. Bank of America Savings Calculator
You earn $417 more with Axos Bank than Bank of America 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
Savings Breakdown
- Interest Earned+$421.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,421.00
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$4.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,004.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Axos Bank | Bank of America |
|---|---|---|
| APY | 4.21% Range: 3.50% - 4.21% Verified: 8/21/2026 - | 0.04% Verified: 8/21/2026 - |
| Product Name | Axos ONE Savings | Advantage Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $8 |
| Compound Frequency | Daily | Monthly |
| In-Branch Access | No | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; highest limits for established users. |
| BBB Rating | A+ | A+ |
| Important Notes | The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. 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. | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. |
| Next Steps | Visit SiteGo to Axos Bank * Secure link to our partner | Visit SiteVerify at Bank of America Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Bank of America | ||||
|---|---|---|---|---|---|---|
| Axos ONE Savings | Summit Savings | High Yield Savings | Advantage Savings | Advantage Relationship Banking | Business Advantage Savings | |
Current APY | 4.21% | 3.75% | 0.61% | 0.04% | 0.02% | 0.01% |
Trend | Stable | Stable | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -4.0 | -5.3 | -0.0 | 0.1 | 0.1 | -0.0 |
Days Since Change | 200 | 253 | 361 | 88 | 84 | 93 |
12-Month High | 4.51% | 4.00% | 0.61% | 0.04% | 0.11% | 0.02% |
12-Month Low | 4.21% | 3.75% | 0.61% | 0.01% | 0.02% | 0.01% |
Adjustments / Mo | 0.25 | 0.08 | 0.00 | 0.25 | 0.33 | 0.33 |
Volatility Score | 0.022 | 0.030 | 0.000 | 0.377 | 0.894 | 0.354 |
How to read these metrics(Click to expand)
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Compare Axos Bank's APY of 4.21% with other banks
Compare Bank of America's APY of 0.04% with other banks
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|---|---|---|
| Bank of America vs Ally Bank | 3.00% | $0 |
| Bank of America vs American Express | 3.00% | $0 |
| Bank of America vs Barclays | 3.65% | $0 |
| Bank of America vs Capital One | 3.50% | $0 |
| Bank of America vs Chime | 3.75% | $0 |
| Bank of America vs CIT Bank | 3.75% | $100 |
| Bank of America vs EverBank | 3.90% | $0 |
| Bank of America vs Marcus by Goldman Sachs | 3.40% | $0 |
| Bank of America vs Newtek Bank | 4.20% | $100 |
| Bank of America vs Openbank | 3.80% | $500 |
| Bank of America vs Pibank | 4.10% | $0 |
| Bank of America vs SoFi Bank | 3.80% | $0 |
| Bank of America vs Synchrony Bank | 3.30% | $0 |
| Bank of America vs Varo Bank | 3.75% | $0 |
| Bank of America vs Wealthfront | 3.95% | $0 |