Axos Bank Personal Loan Review
- APR
- 8.24% to 18.99%
- Eligibility and access: 4/5
- Cost to borrow: 3.6/5
- Loan terms and options: 4.2/5
- Repayment support and tools: 4/5
Founded in 2000, Axos Bank is a digital financial institute headquartered in San Diego. The bank offers large personal loans — ranging from $7,000 to $50,000 — and caters to borrowers with strong credit.
- Competitive(ish) APRs: Axos caps rates at 18.99%, well under the 35.99% ceiling common among online lenders. Its 8.24% starting rate is on the high side, though, so borrowers with excellent credit may find cheaper options elsewhere.
- No bad or fair credit loans: If you don’t have a credit score of at least 730, you won’t qualify for an Axos Bank personal loan.
- Good for larger loan amounts: Personal loans at Axos Bank start at $7,000 and go up to $50,000. If you’re looking for a small personal loan, you’ll have to apply elsewhere.
- Charges an origination fee: Like many lenders, Axos charges a one-time origination fee of 0.00% - 2.00% of your loan amount based on your credit rating. It’s deducted from your loan amount, so you could receive slightly less than you borrow.
- Best if you have very good credit and want to switch banks: Axos isn’t just an online lender, it’s a full-on digital bank. Its personal loan rates aren’t the cheapest but its other banking services could add value for some borrowers.
Axos Bank pros and cons
Axos Bank personal loans can come with some great features, but, like any other lender, Axos has its downfalls, too.
Pros
- Rates capped at 18.99%, lower than a lot of online lenders
- Due date can be changed
- You can borrow up to $50,000 (if you qualify)
Cons
- Can’t add a second person to your application and get a joint loan
- Charges an origination fee on some loans
- Rates start at 8.24%, which is a little higher than some online lenders
Although it has a high minimum credit score requirement (730+), Axos Bank isn’t the most competitive for excellent credit. For instance, LightStream only accepts good to excellent credit and its annual percentage rates (APRs) start at 7.24% (with autopay). Axos may also charge an origination fee, depending on your credit rating.
Even so, this lender is worth exploring if you need a mid-sized loan and want to keep your borrowing and banking together. Along with personal loans, you’ll find high-yield savings accounts, other consumer loans (like mortgages), investment products and more.
Axos also offers a referral program. If a friend takes out an Axos personal loan through your referral link, you and your friend each get $100. To qualify, you’ll need an active Axos deposit account. Additionally, their loan has to remain in good standing for the first 90 days.
Axos Bank requirements
Axos Bank doesn’t provide some details around its personal loan requirements such as income or debt-to-income ratio (DTI), but here’s what we do know:
| Minimum credit score | 730 |
| Length of credit history | At least four years |
| Required documents |
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If you meet the basic requirements listed above, you may need to disclose how you plan to use your personal loan. While Axos Bank does allow borrowers to use its funding for a variety of purposes, there are certain expenses you cannot put the money toward.
Axos Bank loans CAN be used for…
- Debt consolidation
- Home improvement
- Major purchases
- Medical bills
- Special occasions and events
- Legal bills
Axos Bank loans CANNOT be used for…
- Investments, stocks and securities
- Cryptocurrency
- College expenses
- Short-term real estate bridge financing
If Axos Bank’s loan options won’t work for your borrowing needs, shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a personal loan with Axos Bank
1. Check your credit score
Checking your credit score can give you an idea of whether you’ll qualify with a lender. It can also give you insight as to what interest rates you may qualify for. To qualify for an Axos Bank loan, you’ll need a credit score of at least 730.
2. Estimate how much you need to borrow
You can borrow anywhere from $7,000 to $50,000 from Axos Bank. However, before you apply for a loan, it’s a good idea to budget for how much you can afford. You can use a personal loan calculator to estimate your potential monthly payments.
3. Prequalify for a loan
During this part of the process, you’ll tell Axos Bank how much you need to borrow, your preferred repayment term and how you plan to use the money. Prequalification won’t impact your credit score. It’s a good idea to prequalify with multiple lenders to compare rates and see which lender is willing to offer you the best option.
4. Verify your information
If you decide to go with Axos Bank, you’ll need to verify the information that you provided during the application process and provide documents, including a copy of your driver’s license or state ID and proof of income. Axos Bank will perform a hard credit check, which can cause your credit score to drop by a few points.
5. Close on your loan
In the final stage, you must officially accept your loan by signing a contract agreeing to repay it. Be sure to look over and understand the terms of the agreement before signing. Once you’ve accepted the loan terms, Axos Bank will release the funds within one to three business days.
How Axos Bank compares to other personal loan companies
Even if you believe Axos Bank aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how Axos Bank stacks up against similar personal loan lenders.
| Axos Bank | Discover | Happen Bank | |
|---|---|---|---|
| LendingTree’s rating | 3.9/5 | 4.6/5 | 4.4/5 |
| Minimum credit score | 730 | 720 | 600 |
| APRs | 8.24% to 18.99% | 6.99% to 24.99% | 5.96% to 35.96% |
| Loan amounts | $7,000 to $50,000 | $2,500 to $40,000 | $1,000 to $75,000 |
| Repayment terms | 36 to 72 months | 36 to 84 months | 24 to 84 months |
| Origination fee | 0.00% – 2.00% | None | 0.00% – 8.00% |
| Funding timeline | Get money as soon as the same day | Get money as soon as the next business day | Get money within 24 hours of loan approval |
| Bottom line | Axos Bank could be a good fit if you want to keep your personal loan and your banking together. You could probably find a cheaper lender if you have excellent credit. | Discover personal loans have no fees and carry competitive rates for excellent credit. Its loan terms are also longer. This can help make your monthly payments more manageable, but you’ll likely pay more overall interest. | Happen Bank lets you borrow as little as $1,000, so it may be a good fit if you need a small loan. And although it has the lowest credit score requirement, it has the highest possible origination fee. |
How we rated Axos Bank
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings. Read more about our editorial guidelines.
Frequently asked questions
Axos Bank may be a good option for personal loans as long as you have strong credit and need to borrow at least $7,000. This fully digital bank also offers the full range of services you’d expect from a brick-and-mortar institution.
To qualify for an Axos Bank personal loan, you’ll need to have a credit score of 730 or higher. If yours is lower than that, taking steps to improve your credit score could help you qualify.
Axos Bank performs a hard credit pull if you plan to follow through with a personal loan. However, the lender does allow you to prequalify first, which lets you check rates without lowering your credit score.
It takes just a few minutes to prequalify. If you submit a formal application, Axos Bank’s underwriting team should get back to you within 48 hours. Once approved, your funds should hit your bank account within one business day, although some credit union accounts may take up to three days.
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