- Axos ONE savings pays 4.21% APY with qualifying deposits, as of 10/13/2026
- Up to 5.00% for six months for new customers who open by October 31, 2026
- No monthly maintenance, minimum balance or overdraft fees
- Paychecks up to 2 days early, and 95,000+ ATMs with domestic ATM fee reimbursements
- Online only, FDIC insured through Axos Bank
| Type | Online bank. Axos Bank, Member FDIC |
|---|---|
| Axos ONE savings APY | 4.21% on the first $249,999.99 and 3.50% above that, with qualifying deposits. 5.00% on the first $49,999.99 for six months for new customers opening October 1 to 31, 2026. Rates as of 10/13/2026, variable |
| Summit Savings APY | Up to 4.01% for the first six statement cycles with promo code SUM26, opened October 1 to 31, 2026 |
| Checking APY | Axos ONE checking 0.51% with qualifying deposits. Axos Checking 1.00% with at least $1 in direct deposit that month |
| Monthly fee | $0. No maintenance, minimum balance, opening or overdraft fees |
| Early direct deposit | Up to 2 days early |
| ATMs | 95,000+ ATMs with unlimited domestic ATM fee reimbursements |
| Sign-up bonus | No cash bonus shown. Rate boosts for new customers instead |
| iPhone app rating | 4.7 out of 5 from 19,601 ratings on the App Store, read October 13, 2026 |
| Android app rating | 4.6 out of 5 from 11,069 ratings on Google Play, read October 13, 2026 |
Our take: Axos ONE is the product to look at if your paycheck comes by direct deposit and you can keep $1,500 in checking. The top rates depend on those deposit rules, and the six month boosts end for accounts opened after October 31, 2026.
The current Axos lineup
Axos’s personal checking page today lists Axos Checking, Axos ONE and a teen account called First Checking. On the savings side you’ll find Axos ONE Savings, Summit Savings, a teen account called First Savings and InsureGuard+ Savings for people who want more FDIC coverage. Older Axos accounts you may have seen reviewed elsewhere aren’t on that list.
It’s all online. No branches to walk into.
Axos ONE: the main event
Axos ONE bundles a checking account and a savings account. The rates hinge on your checking account hitting one of two targets each month, counted from the first business day through the 25th:
- Option 1: at least $1,500 in qualifying direct deposits and an average daily balance of at least $1,500
- Option 2: at least $5,000 in qualifying deposits and an average daily balance of at least $5,000
Hit one and the checking account earns 0.51% APY. The savings account earns 4.21% APY on the first $249,999.99, then 3.50% above that. Miss both and you’re at 0.00% on checking and a savings base of up to 1.00%.
New customers who open Axos ONE between October 1 and October 31, 2026 can get an extra 0.79% for six statement cycles, which brings the savings rate to 5.00% on the first $49,999.99. Above $50,000 you get 4.21%. You can’t have held any Axos Bank or UFB Direct account before.
On $10,000, 5.00% is about $500 a year and 4.21% is about $421, if the rate held. It’s variable and can change as often as daily. The incentive may be taxable and reported on a 1099-MISC.
Summit Savings
If you don’t want a checking account, Summit Savings is the standalone. It has no minimum initial deposit, no minimum balance to earn the APY and no monthly maintenance fee.
New customers who open it between October 1 and October 31, 2026 and enter promo code SUM26 get a 0.26% boost for six statement cycles. That’s 4.01% APY at today’s rate.
Forget the code and you don’t get the boost, so don’t.
Axos Checking
This is the simple one. No monthly maintenance fee, no overdraft fees, no minimum balance and no opening fee. Get at least $1 in direct deposit in a month and you earn 1.00% APY that month. Otherwise it’s 0.00%.
The perks are the same as ONE: pay up to 2 days early with direct deposit, plus 95,000+ ATMs with unlimited domestic ATM fee reimbursements.
The 1.00% is nice but small. If you’re looking at checking, ONE only makes sense when you can also use its savings account.
What it costs
Nothing monthly. You won’t pay maintenance, balance, opening or overdraft fees on ONE or Axos Checking, and Summit Savings has no monthly maintenance fee.
The real cost is missing the targets.
If your deposits fall short of $1,500 or $5,000 in a month, you drop to the base rates for that month.
Pros and cons
Pros
- No monthly maintenance, minimum balance or overdraft fees on Axos ONE and Axos Checking.
- Axos ONE savings pays 4.21% APY on the first $249,999.99 once the deposit rules are met.
- New customers who open Axos ONE by October 31, 2026 can earn up to 5.00% for six statement cycles.
- 95,000+ ATMs with unlimited domestic ATM fee reimbursements.
- Summit Savings has no minimum initial deposit and no minimum balance to earn the APY.
Cons
- Miss the $1,500 or $5,000 targets and you drop to 0.00% on ONE checking and a savings base of up to 1.00%.
- The boosts are only for people who never held an Axos Bank or UFB Direct account.
- Rates are variable and can change as often as daily.
- Axos Checking pays 1.00% only in months with at least $1 in direct deposit.
- No cash sign-up bonus is shown. The incentives are rate boosts.
Who should open it
Open Axos ONE if your paycheck lands by direct deposit and you can keep $1,500 or more in the checking account. You’ll earn the top rate and still pay nothing monthly. Not bad, right?
Open Summit Savings if you only want a savings account and you’ll open it before October 31 with SUM26.
Skip Axos if you rely on branches or cash deposits. It’s an online bank. And if rate is your only goal, compare before you commit, because the boosts last six statement cycles and then the account earns the current rate.
How to open
Go to Axos Bank’s Axos ONE page or use the app. For Summit, put SUM26 in the promo code field on the application. You can call (888) 502-2967, and Axos says its support team is there 24/7.
Axos vs. alternatives
- Synchrony Bank: High Yield Savings pays 3.55% APY as of 10/13/2026 with no minimum deposit, but there’s no checking account.
- Varo: savings pays 3.75% APY on balances up to $5,000 with $1,000 in monthly direct deposits and a positive balance.
- Ally Bank: Online Savings pays 3.1% APY as of 10/12/26, and its Spending checking account has a $0 monthly maintenance fee.
Axos Bank could make sense if your paycheck lands by direct deposit, you can keep $1,500 or more in checking, and you want one online bank with no monthly or overdraft fees.
FAQ
Yes. Deposit accounts through Axos Bank brands are FDIC insured through Axos Bank, FDIC Certificate 35546. There’s also the Axos Insured Deposit Program, which gives access to up to $2.5 million of additional coverage through Axos ONE Savings.
No monthly maintenance fees on Axos ONE, Axos Checking or Summit Savings.
Your Axos ONE checking account needs either $1,500 in qualifying direct deposits plus a $1,500 average daily balance, or $5,000 in qualifying deposits plus a $5,000 average daily balance, between the first business day of the month and the 25th.
The Axos ONE rate boost and the Summit Savings boost both require accounts to be opened between October 1 and October 31, 2026.
No. Axos ONE and Axos Checking have no overdraft fees.
No. Anyone who has held any account with Axos Bank or UFB Direct is not eligible for these boosts, and each primary account holder gets one APY boost per 12 months.
Sources (9)
We use primary sources: each company’s own product pages and legal terms.
- Axos Bank. Checking Accounts. axosbank.com. Accessed October 13, 2026.
- Axos Bank. Axos Checking. axosbank.com. Accessed October 13, 2026.
- Axos Bank. Axos ONE. axosbank.com. Accessed October 13, 2026.
- Axos Bank. Savings Accounts and Summit Savings APY Boost terms. axosbank.com. Accessed October 13, 2026.
- Apple App Store. Axos All-In-One Mobile Banking. apps.apple.com. Accessed October 13, 2026.
- Google Play. Axos All-In-One Mobile Banking. play.google.com. Accessed October 13, 2026.
- Synchrony Bank. High Yield Savings. synchrony.com. Accessed October 13, 2026.
- Varo Bank. Savings Account. varomoney.com. Accessed October 13, 2026.
- Ally Bank. Online Savings Account. ally.com. Accessed October 13, 2026.
Take the next step.
See what Axos ONE pays today.
Savings up to 4.21% APY with qualifying deposits, and no monthly fees.
Rates, promotions and availability change. Check the current terms on Axos Bank’s site before you open an account.