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Axos One: Earn Up to 4.66% APY on Savings and 0.51% APY on Checking with Qualifying Requirements
Axos is offering up to 4.66% APY on savings, and 0.51% APY on checking when you meet requirements with Axos One.
Offer Requirements:
If both of the requirements in either Option 1 or Option 2 above are met during the Qualification Period:
Details:
*The Annual Percentage Yield (APY) is accurate as of 1/30/2025. The base and promotional interest rate and corresponding APY for Axos ONE Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE Savings is variable and is set at our discretion. Axos ONE Savings is a tiered variable rate account. Axos ONE Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.
The Qualification Period is from the 1st of the month through the 25th of the month. Any qualifying direct deposits received after the 25th of the month will count toward the next Qualification Period.
A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability, etc. Other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.) or person-to-person payments are not considered a direct deposit.
Qualifying deposits only include deposits from the following eligible sources: (i) ACH transfers from external accounts, (ii) inbound wire transfers from external accounts, (iii) check deposits. Qualifying deposits do not include: (i) transfers internal to the bank (i.e., transfers between an account holder's Checking and/or Savings account), (ii) interest payments, (iii) promotional bonuses, (iv) credits, reversals, and refunds.
Both accounts must be in an open and active status on the date the interest is paid to receive the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account.
Slickdeals may be compensated by Axos
Offer Requirements:
- Option 1
- Your Axos ONE Checking account has received qualifying direct deposits of at least $1,500 in total.
- The average daily balance of your Axos ONE Checking account is greater than $1,500.
- Option 2
- Your Axos ONE Checking account has received qualifying deposits of at least $5,000 in total.
- The average daily balance of your Axos ONE Checking account is greater than $5,000.
If both of the requirements in either Option 1 or Option 2 above are met during the Qualification Period:
- The Axos ONE Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met.
- The Axos ONE Savings account will earn a promotional rate of up to 4.66% APY for the statement cycle in which the requirements are met.
Details:
- Earn up to 4.66% APY on savings, and 0.51% APY on checking when you meet requirements.
- Get your money up to 2 days early. You've earned it, so start earning on it.
- No monthly maintenance, minimum balance, account opening, or overdraft fees.
- We've got you covered. Access expanded FDIC Insurance for up to $250 million.
- Access a network of over 95,000 fee-free ATMs.
- Manage all your bank accounts from one place in the Axos app.
- Link external accounts in the app to move your money seamlessly.
*The Annual Percentage Yield (APY) is accurate as of 1/30/2025. The base and promotional interest rate and corresponding APY for Axos ONE Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE Savings is variable and is set at our discretion. Axos ONE Savings is a tiered variable rate account. Axos ONE Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.
The Qualification Period is from the 1st of the month through the 25th of the month. Any qualifying direct deposits received after the 25th of the month will count toward the next Qualification Period.
A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability, etc. Other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.) or person-to-person payments are not considered a direct deposit.
Qualifying deposits only include deposits from the following eligible sources: (i) ACH transfers from external accounts, (ii) inbound wire transfers from external accounts, (iii) check deposits. Qualifying deposits do not include: (i) transfers internal to the bank (i.e., transfers between an account holder's Checking and/or Savings account), (ii) interest payments, (iii) promotional bonuses, (iv) credits, reversals, and refunds.
Both accounts must be in an open and active status on the date the interest is paid to receive the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account.
Slickdeals may be compensated by Axos
Created 11-06-2024
at 10:36 AM
by EfficientGame645
in
Personal Finance
(5)
Axos Bank
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Our community has rated this post as helpful. If you agree, why not thank jmunjr
Our community has rated this post as helpful. If you agree, why not thank JollyMustang639
This is what I do as well. So here's how I go about it. I have a Fidelity brokerage account which has a default settlement fund of SPAXX (Fidelity Government Money Market Fund) which as of Friday yielded 4.01%. Now keep in mind there's a 0.42% expense ratio so you need to subtract that. Anyhow with this settlement fund approach when I do direct deposit or check it gets automatically invested in SPAXX and then I simply do withdrawals/transfers via ach, and it automatically sells the dollar equivalent of my SPAXX holding ($1 = $1). You can also do FZFXX (Fidelity treasury money market fund) and others with the same approach but I stick to these two. The beauty of this is you can use this thing as a hybrid checking account and savings account as it supports many typical bank account features.
In addition to the above, I also maintain a Fidelity cash management account which has a few additional features. The big difference is with the Fidelity cash management account the default settlement fund is FDIC insured at 2.21% up to $2m (I believe). I then manually buy SPAXX on a reoccurring basis in the cash management account to go from the FDIC rate to the money market rate. When I do withdrawals it automatically sells FDIC first followed by SPAXX. I use this as my primary bank account now a days for atm/debit card withdrawals, ACH withdrawals, direct deposits, check writing , bill pay etc. Also all atm fees are reimbursed the same day or within 48 hours for all banks/atms not just Allpoint atms like most other banks. Even better international atm fees are also reimbursed as well.
This works well for me given I used to have a decent amount of cash parked in my checking account just sitting there to pay upcoming bills earning no interest and now it earns pretty much the same as HYSA account.
Vanguard has a similar brokerage/cash management account but the bank like features are very limited when compared to fidelity's offering.
I do not work for Fidelity or sell their products. I am simply a customer and have been pretty happy with them acting as my "bank" and the customer service is top notch at least for me.
Keep in mind this is NOT financial advice.
Fidelity has a very active Reddit subreddit that has more on all of this and folks that can answer questions or just call them for more details.
How is it not safe? Just do it with an FDIC insured bank or credit union that's insured.
This is a good idea in general but I saw that the total return on this drops significantly to less than 4% after the 1 year mark. Just looking at monthly and quarterly returns. You'd still do better with a HYSA at the moment
And if you are with fidelity, FZDXX. Looks like about 0.1% below FZDXX but close enough.
Everbank offers 4.3% APR
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? Can you explain this? Been chasing CDs and it's getting very old.
Yeah.. can't see how it's 4% thro out the year
That post is 80 days old.
lol, I see now. It pop up on my front page today …
Everbank now is 4.3%
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