Axos High Yield Savings pays up to 4.21% APY when requirements are met. The account has no monthly fee as well as no minimum balance. As part of the full Axos Bank product lineup, the savings account is a strong anchor for anyone building a digital banking setup.
Bottom line: 4.21% APY, $0 in monthly fee, $0 minimum to open. Large fee-free ATM network. Early direct deposit.
Axos Savings Products at a Glance
| Account | APY | Monthly Fee | Min Balance | Best For |
|---|---|---|---|---|
| High Yield Savings | 4.21% | $0 | $0 | Most customers |
Their flagship high-yield savings product Axos ONE has an APY up to 4.21%. If you want to qualify for the highest APYs, you will have to follow these requirements:
-
$1,500 monthly direct deposits while holding a average daily balance of at least $1,500 in the checking account
-
$5,000 monthly deposits while maintaining a average daily balance of at least $5,000 in your checking account.
For eligible direct deposits to count, they must clear by the 25th of each month, and include paychecks or government benefits. Without these requirements the savings rate drops from 4.21% to 1.00%.
What 4.21% APY Means in Practice
If you qualify for the interest rate, this is what a 4.21% APY means in practice based on the balance that you currently have in your account.
| Balance | Annual Interest at Axos (4.21%) |
|---|---|
| $5,000 | $210.50 |
| $15,000 | $631.50 |
| $30,000 | $1,263 |
| $50,000 | $2,105 |
Axos ONE fee breakdown
This table shows a breakdown on the fees that are charged on the Axos ONE account. Axos has a large fee-free ATM network that includes more than 95,000 ATMs nationwide. THe Axos app can be used to locate the ATMs within the network.
| Type of Fee | Fee details |
|---|---|
| Monthly Service | $0 |
| Opening Deposit | $0 |
| ATM | Domestic: $0 within network; 1% International |
| Debit Card | Cash withdrawals: $0 within network; 1% Foreign transactions; $0 card replacement |
| Wire Transfers | Incoming: $0 Domestic; $0 International, Outgoing: $35 Domestic; $45 International |
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy