Axos ONE

Axos ONE pays direct-deposit customers 4.21% APY on balances up to $249,999.99 when the monthly checking requirements are met. The honest verdict: a full bank with a high rate when you qualify, gated behind a monthly qualification that resets every statement cycle, with a much lower rate when you do not. As of October 14, 2026 the savings side pays a promotional 4.21% APY on balances up to $249,999.99 and 3.50% above that, in each statement cycle where the checking account meets Option 1 ($1,500 in monthly qualifying direct deposits plus a $1,500 average daily balance) or Option 2 ($5,000 in monthly qualifying deposits plus a $5,000 average daily balance) by the 25th. In cycles that do not qualify, savings earns a base rate of up to 1.00% APY, and checking earns 0.00% (0.51% when qualified). There is no minimum balance requirement and no monthly maintenance fee. Axos Bank provides direct FDIC insurance to $250,000; the bank absorbed Jenius Bank's savings customers in May 2026. Access: 95,000+ fee-free ATMs through checking, early pay, and instant internal moves. New customers have an extra offer through October 31, 2026. If you open an Axos ONE bundle between October 1 and October 31, 2026, meet Option 1 or Option 2, keep the savings average balance at or under $249,999.99 and have never held an Axos or UFB Direct account, Axos adds a 0.79% APY Boost for the first 6 statement cycles: 5.00% APY on the first $49,999.99 and 4.21% on balances of $50,000 and above. The catches: the qualification gate resets every statement cycle, Axos describes the 4.21% as a promotional rate, the 4.21% stops at $249,999.99 with 3.50% above that, and the APY is variable and can change.