Axos Bank vs. BMO Alto
Axos Bank's Axos ONE Savings pays 4.21% APY while BMO Alto's Savings Account pays 3.00% 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 $121 more than BMO Alto annually ($421 vs $300).
Choose Axos Bank if getting the best rate matters most, you're an iPhone user (no iOS app for BMO Alto), or you're an Android user (no Android app for BMO Alto). Choose BMO Alto if you want a no-strings-attached account.
Important Considerations
Axos Bank's Axos ONE Savings pays its top rate only if you also open a checking account with Axos Bank, while BMO Alto's Savings Account stands alone.
| Metric | Axos BankAxos ONE Savings Sep 11, 2026 | BMO AltoSavings Account Sep 9, 2026 |
|---|---|---|
| APY | 3.50% - 4.21% | 3.00% |
Earns in a year | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$150 $10,000+$300 $25,000+$750 |
Min. Deposit | $0 | $0 |
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. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking BundleDaily CompoundingStable Rate | FDIC InsuredNo MinimumsDaily Compounding |
Prefer In-Person Banking?
Both of these institutions are online-only. If you need in-branch access, check out our list of savings accounts with brick-and-mortar locations.
Executive Summary
Axos Bank offers a competitive APY of 4.21% with its Axos ONE Savings account, which is available when bundled with a checking account and requires either a direct deposit of $1,500 or $5,000 in total monthly qualifying deposits. This account is ideal for customers seeking higher returns on their savings. Alternatively, the Summit Savings account provides a simpler option with a 3.75% APY and no additional requirements. In comparison, BMO Alto's Savings Account offers a lower APY of 3.00% with no conditions. Both banks operate online only, providing easy access to their savings products.
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 3.00%) on all balances
- Higher rated iOS app (4.7 vs 0.0)
- Higher rated Android app (4.6 vs 0.0)
- Offers 3 different high-yield savings options
Why BMO Alto?
No distinct advantages found vs Axos Bank.
Key Feature Differences
Better Returns at $10,000
Axos BankAxos Bank's Axos ONE Savings earns more on smaller deposits (approx. $421 vs $300/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE Savings pulls ahead with larger amounts (approx. $1053 vs $750/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.
Better Mobile App Experience
Axos BankAxos Bank offers an iOS app rated 4.7 (vs. 0.0) and Android app rated 4.6 (vs. 0.0)
Shared Benefits
Over a 1-year period, Axos Bank's Axos ONE Savings pays $121 more interest on a $10,000 balance than BMO Alto's Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Axos Bank vs. BMO Alto Savings Calculator
You earn $121 more with Axos Bank than BMO Alto 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
BMO Alto
Savings Account
Savings Breakdown
- Interest Earned+$300.00(2.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,300.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $295 a year in interest.
Both Axos Bank and BMO Alto advertise far more than that typical branch-bank rate.
| Feature | Axos Bank | BMO Alto |
|---|---|---|
| APY | 4.21% Range: 3.50% - 4.21% Observed: 9/11/2026 Stable over 90 days | 3.00% Observed: 9/9/2026 Stable over 90 days |
| Product Name | Axos ONE Savings | Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | 3 (CA, NV, UT) | Not reported |
| Direct Deposit Req. | None | None |
| Checking Bundle | Yes | No |
| Mobile Apps | iOS- Android- | |
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| 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. | - |
| Next Steps | Visit SiteVerify at Axos Bank Non-sponsored link to official site | Visit SiteVerify at BMO Alto Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank |
|---|---|
| Axos ONE Savings | |
Current APY | 4.21% |
Trend | Stable |
Speed of change | 0.00 |
Days Since Change | 221 |
8-Month High | 4.21% |
8-Month Low | 4.21% |
Changes per month | 0.00 |
Steadiness | 0.000 |
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 230-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 BMO Alto's APY of 3.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| BMO Alto vs Ally Bank | 3.00% | $0 |
| BMO Alto vs American Express | 3.00% | $0 |
| BMO Alto vs Barclays | 3.65% | $0 |
| BMO Alto vs Capital One | 3.50% | $0 |
| BMO Alto vs Chime | 3.75% | $0 |
| BMO Alto vs CIT Bank | 3.75% | $100 |
| BMO Alto vs EverBank | 3.90% | $0 |
| BMO Alto vs Marcus by Goldman Sachs | 3.40% | $0 |
| BMO Alto vs Newtek Bank | 4.20% | $100 |
| BMO Alto vs Openbank | 3.80% | $500 |
| BMO Alto vs Pibank | 4.10% | $0 |
| BMO Alto vs SoFi Bank | 4.00% | $0 |
| BMO Alto vs Synchrony Bank | 3.30% | $0 |
| BMO Alto vs Varo Bank | 3.75% | $0 |
| BMO Alto vs Wealthfront | 3.95% | $0 |