Axos Review

BySarah BadaniFeb. 25, 2021

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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 Debt consolidation loans, home improvement, large expenses, special occasion
Loan amount $5,000-$35,000
Repayment terms 36-60 months
APR 6.49% - 29.99%
Suitable for Small loans, flexible repayment terms

Axos Bank Axos Bank Visit Axos

Suitable For?

Axos Bank is a good choice for people looking for small, short-term loans. With personal loans ranging from $5,000-$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 from $5,000-$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 36 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:

  • 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% - 29.99%. 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 lendingtree
APR 6.49% - 29.99% 2.49% - 35.95%
Minimum credit score Excellent
Loan amounts $5,000-$35,000
Loan term 36-60 mo.
12-144 mo.
Suitable for Fast, small money loans 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 36 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

Axos Bank Axos Bank Visit Axos

Axos Bank customer testimonials

AverageReviews 11
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  • author
    Adria D. Robinson
    Mar 29, 2021
    If I could this bank a negative 3,000

    If I could this bank a negative 3,000. I would. I setup an account with the, based on the review fro, Nerdwallet, what was I thinking!!! I pit a deposit in the account to purchase a phone with Apple. My debit card declined the very first time I used it! I called customer service and spoke with 3 different people. The 3rd person said that Apple does not accept their cards, so I made the order with Apple Pay. Later on in the day I went to make another purchase and my card declined again! I call them again and now I’m told my account is restricted. Now I’m pissed. Then he proceeds to tell me that I can’t speak with the dept that restricted the account and they will, contact me. They don’t haves time frame on how long my account will be in review! I asked to speak with a supervisor. They said I can’t talk to one. A supervisor will have to call me in a couple days! Unbelievable! As soon as my money is unrestricted I, going to move my money to another bank and close this account! DO NOT BANK HERE!


  • author
    James Foster
    Mar 27, 2021
    Ruined a great UI and replaced it with slow clunky ui and rude/slow customer service and transaction times.

    I was a wise banyan user. After it was acquired by axos they ruined the great user interface, cancelled the app, merged it with their online banking which didn’t allow the functionality of the app, and quadrupled their transaction times. Their customer service was rude and annoyed to have to talk to me about what they messed up and took months to transfer, vs the normal 3-5 days.


  • author
    Christa Speer
    Mar 13, 2021
    If I could give a negative star i would…

    If I could give a negative star i would this is hands down the worst banking experience I've every had and they have cost me several dollars due to there bs and unreasonable and unreliable banking I regret the day I opened a bank account with them


  • author
    Christopher Beaudoin
    Feb 09, 2021
    Starting off I am partial to online banks.

    Starting off I am partial to online banks and prefer them to brick and mortar. I was originally a customer of Simple Online Bank and while they had great customer service they were limited in what they offered. I found Axos and I very much like the different accounts they offered. I have been with them now for 6 months have been very happy with my experience with them. I will say the only complaint I do have is there check cashing, they tend to hold funds longer compared to other accounts I have had. I have had several friends switch to Axos and they all have been very happy.


  • 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.


Axos Bank