Axos ONE Savings Review

4.21% APY when you meet the Axos ONE deposit-and-balance requirements; 1.00% when you don't.

By Michael Hewitt, Founder & Editor-in-Chief. Rates last checked October 12, 2026.

Our verdict

Only a steady paycheck makes Axos ONE work: the 4.21% APY needs Axos ONE Checking plus either $1,500 in monthly direct deposits and a $1,500 average daily balance, or $5,000 in deposits and a $5,000 balance. Miss it and the rate is 1.00%, which is why it isn't rated higher. There are no monthly maintenance fees, and loans and investing sit at the same bank.

Skip it if you can't route $1,500 a month by direct deposit, can't keep $1,500 in the account, or don't want the checking account that comes with it.

About Axos ONE Savings

4.21% APY when you meet the Axos ONE deposit-and-balance requirements; 1.00% when you don't. Axos ONE Savings is offered by Axos Bank. Our editorial rating is 4.2 out of 5.

Best for: Savers with steady direct deposits.

Editorial grade: A- (composite score 84/100).

Highlights

4.21% APY on the first $249,999.99 and 3.50% on any additional balance with $1,500 in monthly direct deposits and a $1,500 balance in Axos ONE Checking, or $5,000 in deposits and a $5,000 balance; otherwise 1.00% (Axos: "accurate as of 10/12/2026")
No monthly maintenance fees, no minimum balance to earn interest and no overdraft fees
FDIC insured through Axos Bank (certificate 35546); Axos also offers an optional program, which you enroll in, that places savings at partner banks for up to $2.5 million of additional FDIC coverage

What we like

Competitive APY for savers who meet the requirement
Full-service digital bank with checking, loans, and investing
95,000+ fee-free ATMs and 24/7 phone support (Axos's count)

Where it falls short

The rate needs Axos ONE Checking plus either $1,500 in qualifying monthly direct deposits and a $1,500 average daily balance, or $5,000 in qualifying monthly deposits and a $5,000 average daily balance, posted and cleared by the 25th
Without it the standard rate is 1.00% APY on every balance tier
Rates are tiered and variable and can change as often as daily, and each month's requirements must be met by the 25th

Fees, minimums, and rates

Monthly fee: $0/month. Minimum to open: $0. Current APY: 4.21%. Rates and fees last checked on October 12, 2026.

How we reviewed it

This is a desk review: we have not opened an account with Axos Bank. It is built from Axos Bank's published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the High-Yield Savings shortlist. Our bank-account reviews weight APY (30%), fees (20%), access and convenience (15%), account features (15%), trust and safety (10%), and customer support (10%). The rubric is the same for every brand.

The bank behind this account

Axos Bank, FDIC certificate 35546: capital, loan quality, every office and the complaint record.

Similar products to compare

Read our full editorial methodology for how we review products.