Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.10%(Verified 01/31/2025)
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $250
Minimum Balance to Earn APY
N/A
Axos First Savings Review
Axos First Savings is offered by Axos Bank, a bank founded in 2000 and based in San Diego, CA. Axos First Savings are available in 50 states and Washington, DC.
Key Takeaways
- You must open your new Essential Checking account at the same time as your High Yield Savings account and have a Direct Deposit totaling at least $1,000 from a third party within the first 60 days of account opening to your Essential Checking account to qualify for this bonus.
- Low interest rate. The maximum annual percentage yield for this account is only 0.10%.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- $250 minimum opening deposit. This is a typical minimum initial deposit.
- No ATM fees. Axos First Savings does not charge fees on ATM transactions .
- ATM fee rebates. This account will reimburse you for ATM fees (see terms and conditions for details).
Axos First Savings Pros & Cons
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Axos First Savings FAQ
Are savings accounts from Axos Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Axos Bank offer a signup bonus?
Axos First Savings has a bonus of $100 .
What is the minimum initial deposit for Axos First Savings?
The minimum deposit to open a Axos First Savings is $250.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Combined Balance to Avoid Monthly Maintenance Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Required Balance | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Axos First Savings offer?
Axos First Savings offers an APY of 0.10% (APY stands for annual percentage yield, rates may change).
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does Axos First Savings charge?
Axos First Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
- Outgoing domestic bank transfers come with a $35 fee.
- Outgoing international bank transfers come with a $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Axos First Savings charges $5 every time you request a paper statement.
Does Axos First Savings charge overdraft fees?
No, Axos First Savings does not charge overdraft fees.What features and perks does Axos First Savings offer?
This savings account includes the following features:
- Bonus offer - Open an account and you may receive a signup bonus of up to $100 . See offer page for more details.
- ATM reimbursement - This account provides ATM access and will reimburse you for the ATM fees charged by other networks.
- Fraud monitoring - Axos First Savings monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
- Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
Can you set up a direct deposit to Axos First Savings?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Axos First Savings?
The customer support email for Axos First Savings is businessbanking@axosbank.com.
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Hours of Operation
Sunday
12:00AM - 12:00AM
Monday
12:00AM - 12:00AM
Tuesday
12:00AM - 12:00AM
Wednesday
12:00AM - 12:00AM
Thursday
12:00AM - 12:00AM
Friday
12:00AM - 12:00AM
Saturday
12:00AM - 12:00AM