Axos Review

BySarah BadaniNov. 15, 2020

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In a Nutshell

Axos Bank is a trusted name in the world of banking, which makes it a good candidate for handing out personal loans. It’s the kind of bank that goes the extra mile for the little guy, and you can feel that in all aspects of the service. Axos Bank offers low rates, easy loan requirements, and flexible repayment terms, making it simple for almost anyone to get a small money loan for various needs.


  • No collateral needed
  • Initial quotes won’t affect credit
  • No pre-payment penalty


  • Loans only available up to $35,000
  • Slightly longer and more exhaustive initial questionnaire
  • Only online solutions (no in-person services)

Axos Bank at a Glance

Loan types Personal, auto, mortgage, FHA, HELOC, Jumbo, VA, portfolio, refinancing
Loan amount $5,000 - $35,000
Repayment terms 12, 24, 36, 48, 60 months
APR 6.49% - 26.99%
Best for Small loans, flexible repayment terms

Visit Axos

Best For?

Axos Bank is a good choice for people looking for small, short-term loans. With personal loans capping out at $35,000, Axos Bank offers a convenient way for borrowers to get their hands on a small amount of cash quickly.

Range of Loans on Offer

As an FDIC-insured and Equal Housing Lender member, Axos Bank offers a huge range of financial products to its consumers. This institution covers the spectrum from auto loans to mortgages and home refinancing, VA loans, FHA loans, Jumbo and Super loans, Portfolio loans, and more. For the purpose of this review, we focused on the personal loans offered by Axos Bank, and what we found definitely gave us plenty to write about.

Axos Bank gives quick, short-term small money loans with flexible repayment terms and an easy online application process (we’ll cover that in a minute). What’s more, Axos Bank has relatively few loan requirements, leaving this product open to the majority of consumers out there.

  • No pre-payment penalty
  • Low rates
  • Range of repayment terms
  • Easy loan requirements

The Application Process

Axos Bank makes applying for a personal loan quick and easy. Here are the steps:

  1. Go to the website, and click on any of the links to get the loan application started. These can be found every few lines in big bold buttons.
  2. Input some basic information like how much you want to borrow, what your ideal loan term is, how you want to use your loan, and what kind of credit score you have. It’s worth noting that while Axos Bank asks you what you’re using your loan for, you are under no obligation to use the money for a specific purpose. That’s because unlike other types of loans, personal loans are free to be used however you see fit. In fact, one of the options is “other,” so you really have no limits.
  3. Next, you’ll be asked to create an account with Axos Bank. This entails filling out some basic personal information like your email address, name, phone number, and birthdate. You’ll also be asked to add in information about your living conditions (like whether you own, how long you’ve owned for, and how much your property is valued at).
  4. You’ll also be asked several questions about your banking situation and your employment status. This is a little more invasive than initial questionnaires from other loan providers, but nothing you wouldn’t have to answer eventually.
  5. Finally, you’ll be given a few quotes based on your answers. You can choose to take or leave these offers. There’s no obligation to accept.

After you've accepted a loan offer and been approved for the loan, you can expect to see the money deposited in your bank account within 2 business days. This is a fast turnaround by all accounts, adding another notch to Axos Bank’s belt.

Another thing worth mentioning is that this initial quote will not affect your credit at all. If you decide to proceed further with a suggested loan proposal, then a hard credit pull will be done. This will temporarily lower your credit score, but it is an industry-recognized practice and does no long-term damage to your credit.

How Much Can You Borrow?

Axos Bank provides borrowers a wide range of loan amounts within the small money loan category. If you are looking for a major business or personal loan, then you’re better off with a bigger loan provider like Credible or Fiona, but if small money is where you’re at, then Axos Bank is a great option. You can borrow as little as $5,000, or as much as $35,000.

Loan Requirements

Axos Bank has refreshingly relaxed loan requirements. Pretty much anyone can apply and be approved for a loan with this reliable lender. What you will need is:

  • Valid ID
  • Social Security number
  • Checking or savings account in your name
  • To be a legal US citizen

There is really no credit requirement; even bad credit applicants are considered.

Repayment Terms

One of the biggest benefits of borrowing from Axos Bank is the flexible repayment terms. You can choose to pay back your loan quickly, in just 12 months if you’d like. Alternatively, you can spread out your payments over 5 years, if this works better for your finances. There are also several options in between. Choose from repayment plans for the following monthly options:

  • 12
  • 24
  • 36
  • 48
  • 60

It’s not clear exactly what APR you’ll be paying since Axos Bank requires all of your information to be processed before it can give you a direct quote. However, loans generally range from 6.49% - 26.99%. The low end of this is a little higher than other bottom lines, but since most people don’t qualify for the low-end APR anyway, this really doesn’t affect the majority of consumers. Regardless, the higher figure is lower than where most competitors cap out.

Privacy & Security

Axos Bank uses federal law-required security measures to ensure your privacy and safety. This includes technological safeguards as well as physical security measures to keep your information safe. Some of the mechanisms in place include:

  • Antivirus protection
  • Firewalls
  • SSL 128-bit encryption
  • Automatic log out of all accounts when sessions timeout
  • Fraud monitoring

Help & Support

Axos Bank has excellent customer service. In fact, there’s round the clock support if you want to call an agent. You can also email someone at the email address below. What’s even more impressive is that Axos Bank offers live chat support as well. This is the easiest and most convenient form of customer service, so it’s always a welcome sight to see brands offering this option.


Telephone: 866-923-3625

How Axos Bank Compares

axos eloan lendingtree
APR 6.49% - 26.99% 8.99% - 21.49% * 3.49% - 35.95%
Minimum credit score Good/Excellent Good/Excellent None
Loan amounts $5,000 - $35,000 $1,000 - $35,000 $1,000 - $50,000
Loan term 12 - 60 months 24 - 60 months 3 - 180 months
Best for Fast, small money loans Startups or fresh, free-thinkers looking for quick startup cash People looking for a loan comparison tool

As you can see, Axos Bank fairs pretty well when compared to the competition. For example, it has more flexible repayment terms, allowing you to pay your loan back in as little as 12 months, or even as long as 60 months. What's more, Axos Bank has more relaxed requirements, making it a more accessible option than some of the competition.

LendingTree is a good option if you want even more flexibility, but this isn’t a direct lender. So, you’re not dealing directly with LendingTree, and you may run into problems depending on the lender you finally end up with.


Q: Is there a difference between approval and being pre-qualified?

A: Yes. Axos Bank prequalifies you based on the answers you give in your loan application. The loan isn’t approved though until your information is verified.

Q: What factors does Axos Bank consider when assessing a borrower for a loan?

A: Credit is only one of the aspects taken into consideration during the application process. Additionally, Axos Bank looks at income, employment status, credit history, assets, and more.

Q: How can I get money from Axos Bank once my loan is approved?

A: Axos Bank will make direct deposits into your bank account given in the application form. 

Q: How long does it take to get the money?

A: Once approved for a loan, Axos Bank borrowers will generally see their money within 2 business days.


Axos Bank is a rock-solid financial institution that offers consumers a fast, easy, and uncomplicated way to borrow money without the hassle that working with bigger name banks usually entails. The online application takes a few minutes, quotes come in seconds, and the customer support is helpful. Add to that the fact that Axos Bank has some impressively low rates and flexible repayment terms, and this is an obvious choice for anyone looking to borrow less than $35,000 now.

Physical Address

4350 La Jolla Village Drive

Suite 140

San Diego, CA 92122 USA

Visit Axos

Axos customer testimonials

AverageReviews 7
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  • author
    Mike Gray
    Nov 05, 2020
    Extremely difficult to work with

    Extremely difficult to work with. They claim to be an "online bank" but everything requires you to call in, so I think that makes them a "phone-in bank". The person who helped when I called in was condescending and seemed to be actively trying to make my situation more difficult. Closed account, went to a real bank.


  • author
    alexia smith
    Nov 02, 2020

    do not use this bank they are horrible people, will hold onto your funds without warning, and close your account when they feel like it with no explanation.


  • author
    Krista Wright
    Aug 18, 2020
    If you like having access to your money stay away!

    Ok, first of all, I'd have to say that there is one shining gem in this company, the man who helped me sign up, Mr. McKenzie. He's awesome. However, ever since I got this bank account 8 months ago, I have NEVER been able to actually access it or use it without an issue! The debit card gets denied ALL THE TIME - Amazon, the CRM software I use, my business cell - denied, denied denied. Heaven forbid you travel internationally for work, you'll immediately get a Gladiator flag and get locked out of your account. Even when I warn them in advance - no dice. Think you can use a VPN? Think again! The site will say that it doesn't recognize the login and ask to CALL you - not even text! If you can't access your US phone, you're sh!t out of luck. Bottom line, if you plan to ever use the debit card or travel internationally for work, this bank is not for you.


  • author
    Jul 09, 2020
    Last close to 4000 with this bank they…

    Last close to 4000 with this bank they rip me off horrible customer service very rude and uncooperative irresponsible they don’t see you as a human being but only as a $and I don’t care about you very rude. Zero customer service


  • author
    Jul 02, 2020

    BEWARE OF UFB DIRECT (Online version of AXOS BANK)! If I could rate them with a negative 5 I would do it but one star will have to do. On 05/27 I opened a money market account because the bank touted the best money market rate in the country. Before making a deposit, I called a banker about the history of maintaining rates. She stated rate changes were infrequent so I decided to move ahead and wired my money. During June the money market rate dropped twice to nearly half the original rate, no longer competitive. On 06/29 I decided to move my money. I spent time researching before the transfer and learned the policy regarding the bank and lowering the amount in the account. “According to UFB Direct's Premium Money Market page, there is a $10 monthly maintenance fee if the daily average balance drops below $5k.” So this means that if my balance fell below $5k, they would charge me $10, that’s it. I called the bank to see if the rate could be improved considering my large deposit, Angela a customer service rep said she could do nothing about it. That made my decision for me so I planned to transfer my money to another bank with a higher interest rate. I asked for options to transfer my money. Angela transferred me to Derek from the wiring dept who said wiring was the best way. Neither Angela nor Derek mentioned moving my money before month end would affect my interest. It was the 29th, 2 days before the end of the month. I had a sizeable account and the interest accrued for the first 29 days was over $500. Using the online policy reference I had researched (i.e. the worst that could happen is they would deduct $10 from my account for going below the $5k minimum). I submitted the wire request. I got a call later in the morning of 6/29 from a male rep asking why I was moving my money, I explained the rate issue. He then approved the wire again with no mention about timing and how it might affect the interest accrued. On 07/01/20 I woke up to see if the interest was deposited but the accrued interest was zeroed out. I called the bank spoke with Mike who talked with his supervisor, who then told me it was a computer error that the interest would be added in 1 to 2 hours. After two hours, nothing got deposited so I got online with the bank and started a chat session with John C. who after speaking with his supervisor now said since I transferred out my money, the interest was defaulted, the exact opposite from Mike just two hours earlier. Also I had researched prior that there was only a fee for going below $5k. I did not close my account which is still open today. Obviously I would have left the money in my account for 2 days longer had anyone told me it needed to stay until month end (which was not mentioned in the policy I already mentioned). Before stopping my chat session, I asked John C. to have someone in management contact me. It has been two days and still no one has followed up. Bottom line, the bank representatives were unethical, misrepresenting bank policy. Not one of the many people I consulted with before the wire transfer provided any information about a need to keep the money in for the full month. I have business with many banks and I don't know of another bank that won't pay you interest due proportionately when you transfer the money to another bank. It is obvious they were manipulating the situation to avoid paying my interest. I have a very large network of business professionals and business owners in the U.S. whom represent more than 3 million businesses that I will be sharing this experience with. I will recommend that none of them bank with Axos or any of their divisions such as ufb Direct and to move their accounts if they are banking with Axos. A deceptive and completely unethical practice. I will pursue this until they return the earned interest. I have also submitted complaints to both the BBB better business bureau complaint and to the Consumer Finance Protection Bureau. No one has yet to contact me from the bank. PUT YOUR MONEY WITH ANOTHER BANK THAT IS TRUSTWORTHY, NOT AXOS BANK!