Bank of America vs. Axos Bank Comparison

• Checking
• Savings
• Certificates of Deposit (CD)
• Money Market Deposit Account (MMDA)

• Checking
• Savings
• Money Market Deposit Account (MMDA)

• Ample physical branches and ATMs
• Low minimum deposit requirements
• Waivable monthly fees

• Earn up to 3.30% APY
• No monthly fees or overdraft on most accounts
• Variety of accounts with unique perks

• APY rates not very competitive
• Only one type of savings account
• An overdraft fee of $35 chargeable daily

• Low CD (certificate of deposit) rates

11.79-20.84%

$5K-$50K

• Direct

• Secured Personal Loans
• Unsecured Personal Loans
• Fixed-Rate Personal Loans
• Co-singer / Joint loans

• Business Loans
• Debt Consolidation
• Home Improvement
• Major Purchase
• Household Expenses
• Vacation
• Wedding

• No prepayment penalties
• 1-year loan terms available
• Fast, 2-day funding
• Wide range of loan terms

• High credit score requirements
• Origination fee
• Shorter loan terms

4.25-18%

• Mortgage Purchase
• Mortgage Refinance
• Fixed
• Adjustable
• Home Equity Loan
• Home Equity Line of Credit
• FHA
• VA
• Jumbo

• Fast closing period for a mortgage.
• Cashback of up to 3% is available on annual repayments
• The lender fee of $995 is waived if you hold an Axos Bank checking account
• Applicants with average credit scores are considered for a mortgage
• Offers difficult-to-find mortgages such as super jumbo loans

• No physical branches to discuss your mortgage needs
• Discounts are only available if you have an Axos Bank account
• No visibility of mortgage rates until after pre-qualification