Axos Bank Review

Axos Bank Personal Loans: 2024 Review

At a Glance:

  • Loans between $5,000-$50,000
  • Best for those with a higher credit score who are looking to refinance previously existing loans
  • Offers great refinancing options for previously existing loans

What is Axos Bank?

Axos Bank began operations in 2000 and describes itself as a “a technology-driven financial services company that provides innovative banking products and services to customers nationwide.” They pride themselves on being an already innovative bank that is constantly evolving and updating to keep up with current trends and customer needs.

Axos Bank Rates and Fees


Varies depending on borrower

Loan term:

3-6 years

Loan amounts:


Hidden fees:

Origination fees, late fees, insufficient funds fees

Minimum credit score required


Extra perks:

Financial education include articles and tools such as various calculators

Fund availability

1-3 business days

What type of personal loans does Axos Bank offer?

Axos Bank offers personal loan options for a variety of life’s situations that include but are not limited to:

  • Debt consolidation
  • Home improvement projects
  • Medical expenses
  • Legal fees
  • Weddings
  • Vacations

Axos Bank Pros and Cons


  • Soft credit check to check rates
  • Option to change payment date
  • Great options for refinancing loans


  • May charge origination fee
  • No discounts for auto payments
  • No options for secured loans

Who should use Axos Bank?

Axos Bank offers fantastic personal loans for anyone who has excellent credit of at least 700 or above. The high credit requirement may disqualify some but for those who qualify, Axos Bank Personal Loans offer great options for anyone who is looking to consolidate or refinance high-interest debt. The APR tends to be lower than many other similar services and as long as you do not make any late payments you’ll be able to avoid most fees that Axos may charge.

What are some of the benefits of using Axos Bank?

You can prequalify with a soft credit check before finalizing an application.

When you are in the early stages of applying for a personal loan through Axos Bank, you have the ability to pre-qualify for a rate which means that you can see any of the rates that you may qualify for before you make any final commitments and accept an offer. Once you do accept a loan offer Axos will run a hard credit check and that may cause your credit score to temporarily dip a slight amount. However, this is usually not a big deal as long as you don’t have a large amount of credit inquiries on your record. You’ll also know that you’ll be getting a loan by the time the hard credit check is run.

You will have the option to change your payment date.

Once you accept a loan offer and all the details are finalized, you will be allowed the flexibility to change your payment date within ten days of the existing payment date for any reason that you would like to change it. Additionally there is no limit to how many times you can change the date when you use Axos Bank which is a big perk compared to many other similar lenders who limit the number of times you can change the payment date to one or two times. The chance to move your payment date can allow you to adjust it to coincide with your payday and it can ultimately save you hundreds if not thousands of dollars in late fees.

Axos Bank offers ideal options for anyone who is looking to refinance existing personal loans.

Axos Bank offers loan options that are specifically designed to help you refinance an existing personal loan and proceed with repayment with a better interest rate than you might have had before. If you took out a personal loan when your credit was much worse than it is now, this may be an extremely cost effective option.

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What are some of the downsides to using Axos Bank?

Origination Fee

Like many lenders, Axos Bank charges an origination fee upon the acceptance and implementation of a loan. However, when compared to other lenders the origination fee that Axos Bank charges is relatively low at about 1% to 2% of the total loan amount. That said, it’s completely possible to find loan options that do not require this fee.

No Secured Loan Option

Secured loans are a type of loan that requires collateral such as a house or a car. When you take out a secured loan the lender will have the ability to take those assets if you default on the loan. Secured loans may be the less desirable option but they typically come with lower interest rates and a larger variety of uses.

No Discounts for Auto Payments

Although some lenders will offer you a discount if you set up autopayments for your monthly charges, Axos Bank does not. Usually these discounts will be under 1% so you won’t be missing out on significant amounts of cash but a dollar is still a dollar and you may prefer a lender where you can get some kind of discount.

Axos Bank only reports payments to one credit bureau.

The average lender will report payments to all three major credit bureaus and this is one way that Axos Bank personal loans fall short. They only report to Experian and while that is one of the major three credit bureaus and it will help your score with Experian, you won’t be able to extend that benefit to the other two. If you are working hard to pay off a loan, you might as well choose one that reports to all three credit bureaus so you can improve your financial health overall.

Do I need a credit check to take out a loan with Axos Bank?

Yes, you can expect a soft credit check when you check your options with Axos Bank and a hard credit check when you accept a loan offer.

Does Axos Bank cost any money?

Although it is completely free to apply for a loan through Axos Bank, you should be aware that there are several fees that will come into play should you accept a loan from this provider. Firstly, you will most likely be required to pay an origination fee simply for accepting a loan. The exact amount of this origination fee may vary but will likely be deducted from the total amount of money deposited in your account rather than as a separate payment billed to you.

You will also be liable for late fees and insufficient funds fees should they apply to your situation. However if you pay your rent in a timely fashion you will not have to deal with these additional costs.

Where does Axos Bank operate?

Axos Bank offers loans and banking options to residents of the United States.

How is Axos Bank’s customer service and support?

Axos Bank personal loans are just one service the financial institution offers so they have a robust customer service section of their website that provides resources and quick links to help answer your questions in addition to the standard email and phone customer service lines. Their personal banking phone number is 888-408-1781 and you can contact them Monday through Friday between 9:00 AM and 7:00 PM EST.

How to qualify for a Personal Loan through Axos Bank

Although the specific qualifications for an Axos Bank personal loan may vary slightly, there are a few minimum qualities that you must have to be offered a loan that include:

  • Minimum credit score: 700
  • At least two years of continuous employment history
  • Maximum debt-to-income ratio of 50%
  • 18 years old or older
  • Must be a U.S. Citizen or a lawful permanent resident or have a valid work visa
  • Hav a valid Social Security number or state-issued identification such as a driver's license

How to Apply for a Axos Bank Personal Loan

If you’re interested in applying for a personal loan with Axos Bank, you can simply head to their website, navigate to the personal loan section, and start your application. In many cases the process will be completely online but a representative may need to contact you via phone or email if additional information is required.

Is Axos Bank Legit and Trustworthy?

Axos Bank personal loans are completely trustworthy and secure so you know you will get the service that is advertised. As Axos personal loans are part of their larger financial institution that includes personal banking and business loans, they have a lot of resources to keep your information encrypted and secure.


Axos Bank is a great option for a personal loan for many reasons but especially if you are looking for an opportunity to consolidate debt. None of the potential negatives would significantly change your experience as a lender and put Axos below other comparable lenders apart from the fact that they only report to one credit bureau. However, Axos offers enough pros to make that seem fairly insignificant.

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Loan rate & terms disclosure: Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.

Requesting prequalified rates on Credible is free and doesn't affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.