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's Axos ONE Savings also needs 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's Axos ONE Savings pays its top rate only if you also open a checking account with Axos Bank, while Bank of America's Advantage Savings stands alone.
| Metric | Axos BankAxos ONE Savings Sep 4, 2026 | Bank of AmericaAdvantage Savings Sep 4, 2026 |
|---|---|---|
| APY | 3.50% - 4.21% | 0.04% |
Earns in a year | $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
Axos Bank offers a superior savings option with its Axos ONE Savings account, providing an impressive APY of 4.21% when bundled with a checking account. This account requires either a direct deposit of $1,500 or total monthly qualifying deposits of at least $5,000 to qualify for the higher rate. Alternatively, the Summit Savings account yields 3.75% APY without any bundling or direct deposit requirements. In contrast, Bank of America’s highest yielding product, the Advantage Savings account, offers a mere 0.04% APY across all balance tiers, making it significantly less competitive. Overall, Axos Bank stands out as the more favorable choice for savers.
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).
Better for Simplicity
Axos BankAxos Bank's Summit Savings offers 3.75% APY with no bundling, direct deposit requirement or caps.
Better 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% Observed: 9/4/2026 Stable over 90 days | 0.04% Observed: 9/4/2026 Stable over 90 days |
| 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 | 3 (CA, NV, UT) | 3,823 (AR, AZ, CA, CO, CT, DC, DE, FL (+31 more)) |
| 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 Relationship Banking | Business Advantage Savings | Advantage Savings | |
Current APY | 4.21% | 3.75% | 0.61% | 0.02% | 0.01% | 0.04% |
Trend | Stable | Stable | Stable | Stable | Stable | Stable |
Speed of change | -0.04 | -0.06 | -0.00 | 0.00 | -0.00 | 0.00 |
Days Since Change | 214 | 267 | 361 | 98 | 107 | 102 |
12-Month High | 4.51% | 4.00% | 0.61% | 0.11% | 0.02% | 0.04% |
12-Month Low | 4.21% | 3.75% | 0.61% | 0.02% | 0.01% | 0.01% |
Changes per month | 0.25 | 0.08 | 0.00 | 0.33 | 0.33 | 0.25 |
Steadiness | 0.023 | 0.030 | 0.000 | 0.894 | 0.354 | 0.388 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 364-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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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
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| 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 | 4.00% | $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 |