Axos Bank is an online bank that offers high-yield savings accounts and a variety of other banking products and services. The company was founded in 2000 under the Bank of Internet USA but adopted the Axos name in 2018. In addition to traditional banking products, the company also offers lending options, investment portfolios, and business and commercial banking solutions. They advertised their services on axosbank.com.
Axos Bank Summary
When it comes to securing a loan, you have plenty of options available to choose from. However, this can also make the decision-making process quite difficult. After all, you want to be sure that you’re choosing the best lender for your specific needs.
One option that has received a lot of attention as of late is Axos Bank. But is this bank really the best choice for you? Here’s a closer look at what they offer so you can make an informed decision.
We discovered some interesting things upon closer inspection of their website and terms and conditions. These were the key points that stood out to us.
- Axos Bank offers a variety of APRs for personal loans, depending on your credit score. Loans can range from 7.15% to 17.99% APR.
- Loan amounts range from $5,000 to $50,000.
- Borrowers also pay an origination fee of 1% to 2% of the loan amount that is deducted from the loan proceeds.
- Repayment terms are available from three to six years depending on what suits you best.
- Requires a credit score of at least 700.
- Programs, rates, terms, and conditions are subject to change without notice.
What is Axos Bank?

Axos Bank is a digital bank that offers personal loans and other financial products and solutions nationwide. The company is based in San Diego and was founded in July 2000 and has since focused on providing products and solutions to its customers. You can reach them by calling (877) 247-8002.
Axos Bank has an A+ rating from the Better Business Bureau, with an average of 111 customer reviews and 78 complaints closed in the last 3 years. However, the company has a 1-star out of 5-star rating from customers, due to a large number of negative reviews.
How does Axos Bank work?
Axos Bank offers personal loans that can be applied for online. The process is quick and easy, and you can get prequalified in just a few minutes with a soft inquiry that won’t hurt your credit score. You will receive a preliminary offer, and after accepting it and providing some documentation to confirm your identity, income, and bank account, the loan will be yours.
After you apply for a loan, the bank’s underwriting team will review it and let you know their decision within 48 hours. In most cases, once you accept the final loan offer, the money will be deposited into your bank account within one business day. According to Axos Bank, the entire process can often be completed in just a few days.
How to qualify?
You may be eligible for an Axos Bank personal loan depending on meeting the minimum qualifications, which include:
- A credit score of 700 or above.
- Steady income.
- Four years of credit history.
Loans from $5,000 to $50,000 are available from Axos Bank without the need for a co-signer.
Axos Bank BBB Reviews
Axos Bank has been accredited by the Better Business Bureau since 2011 and currently has an A+ rating. The company has received an average of 111 customer reviews and 78 complaints in the last three years, with a 1-star out of 5-star customer rating.
Here are some reviews:
Carla B 10/28/2022
Elizabeth L 10/16/2022
Axos Bank FAQs
How much does Axos Bank charge?
Axos Bank offers personal loans with annual percentage rates (APRs) starting at 7.15%. The APR you are offered will depend on your credit score. You will also pay an origination fee, which is 1% to 2% of the loan amount and is deducted from the loan proceeds. The rate and payments on your loan will be fixed and will not change over the life of the loan.
A $15 late fee applies to payments made after the grace period, and a $25 insufficient funds fee will be charged for bounced payments.
Are there any pre-payment penalties?
Axos Bank does not charge prepayment fees, so you can pay off your loan early without any penalties. This makes it a great option for borrowers who want the flexibility to pay off their loans on their own terms.
How does Axos Bank affect your credit?
When considering applying for a loan, understanding the process and how your credit score may be impacted is important.
Most lenders will perform a soft credit check initially to give you an idea of the interest rates and loan terms you could qualify for. This won’t affect your credit score. However, once you decide to proceed with the actual loan application, the lender will need to do a hard credit inquiry to get a full view of your credit history and offer you final rates. These hard inquiries can lower your credit score.
How to cancel Axos Bank?
Before taking out a personal loan, make sure you are confident in your decision. You will not be able to change or undo the transaction once the funds have been deposited into your account, so double-check beforehand to avoid any complications later on.

Are you struggling to make ends meet? Here are some helpful tips to get you back on track.
Money management is very important, regardless of your financial situation. By following a few simple steps, you can get your finances in order and improve your future prospects.
- The first step is to create and stick to a budget. This will help ensure that your spending is kept under control and leaves room for other essential expenses.
- Another great tip is to consult with a financial advisor who can help explain your different options as well as set up a plan that suits your unique circumstances.
- And lastly, try not to stress too much about debt. Many companies are understanding and willing to work with customers in order to create a more manageable payment plan. All it takes is reaching out to their customer service team for more information.
Is Axos Bank legit or a scam?
Axos Bank is a financial institution that has been in operation for many years. They offer a variety of services to help meet your needs and have an A+ rating from the Better Business Bureau. However, the company has received a significant number of negative reviews online, leading to a 1-star customer rating. With so many unhappy customers, giving them a good rating is difficult.
Before taking out a loan, it is important to compare interest rates and repayment terms from different lenders. Doing your research and reading customer reviews can help you choose the best option for you and avoid taking out a loan that you can’t afford.
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Thank you for reading!
Axos Bank
Axos Bank Review
Axos Bank is a financial institution that has been in operation for many years. They offer a variety of services to help meet your needs and have an A+ rating from the Better Business Bureau. However, the company has received a significant number of negative reviews online, leading to a 1-star customer rating. With so many unhappy customers, giving them a good rating is difficult.