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Axos Bank Personal Loan Review

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Formerly, Bank of Internet USA, Axos Bank offers an array of personal and business financial services and products, including checking and savings accounts, CDs, auto loans, mortgages, commercial loans and personal loans. You can only apply for an Axos Bank personal loan online, and these loans do not require collateral. Plus, you can prequalify without affecting your credit score.

However, these loans do require a strong credit score. Read on to learn if an Axos Bank personal loan is right for you.

Axos Bank personal loan highlights

  • No collateral required: Personal loans with Axos Bank are unsecured, so borrowers will never be required to put up any collateral to secure the funds they need.
  • No prepayment fee: If borrowers choose to pay off their loans prior to the term lapsing, they can do so without being charged a fee.
  • Prequalify for a loan without impacting your credit score: Before applying for a personal loan with Axos Bank, borrowers can get prequalified and check their rate for a loan with no impact to their credit score.
  • Origination fee: If approved for a personal loan with Axos Bank, borrowers will pay an origination fee between 0.00% - 2.00%.
  • Application only available online: Anyone interested in securing a loan from Axos Bank will have to submit an application online.

Axos Bank at a glance

  • APR range: 7.79% to 14.99%
  • Minimum credit score: 680
  • Terms: 36 to 72 months
  • Origination fee: 0.00% - 2.00%
By clicking “See Offers”, you may or may not be matched with any lender mentioned in this article. Based on your creditworthiness, you may be matched with up to five different lenders in our partner network.
Terms Fees and penalties
  • Terms: 36 to 72 months
  • APR: 7.79% to 14.99%
  • Loan amounts: $10,000 – $50,000
  • Time to funding: No more than two days after acceptance of loan offer.
  • Credit check: Soft Pull when checking rates for loan; hard pull when applying for the loan.
  • Origination fee: 0.00% - 2.00%
  • Prepayment fee: N/A
  • Late payment fee: $15
  • Other fees: $25 insufficient funds fee

Eligibility requirements

  • Minimum credit score: Not specified.
  • Minimum credit history: Not specified.
  • Maximum debt-to-income ratio: Not specified.

Eligibility for an Axos Bank personal loan is dependent upon a number of factors. An age or residency requirement was not specified, but Axos Bank has noted that its decision to approve an applicant for a loan is based on the applicant’s assets, income, employment history, credit history and credit score. The lender claims to have flexible lending requirements but does not specify a minimum credit score, credit history or debt-to-income ratio. Applicants should note that they can be denied due to things like excessive debt and an unacceptable credit history.

What borrowers are saying about Axos Bank

Axos Bank reviews are fairly positive overall. It has a rating of 4.9 out of 5 stars on LendingTree.

Customers who left positive reviews of Axos Bank were most impressed with the simple application process, funding time and customer service. John from San Diego said, “The process was super easy, and staff was very knowledgeable and friendly. I would definitely recommend Axos to anyone looking for a loan.” John was one of many who submitted a rating of 5 out of 5 stars for Axos Bank.

Although a majority of the ratings were 5 stars, lower ratings were given by some customers. The customers who did not award Axos Bank a 5-star rating made mention of their issues with the lender in their reviews, noting the origination fee or the website as their primary concern.

Applying for a personal loan from Axos Bank

The application for an Axos Bank personal loan can be completed online by visiting the lender’s website. Applicants can begin the process by submitting a loan request, which will require them to enter their requested loan amount between $10,000 and $50,000, their ideal loan term between 36 to 72 months and how they plan to use a personal loan.

Upon submission of the loan request, applicants will then create an account. They will be required to enter personal information, such as their Social Security number, income, employment history and assets. The lender will use the requested information to provide the applicant with a preliminary loan offer.

Following a review of the preliminary offer, borrowers can move forward to the next step of the application process, which is when the lender will verify the information submitted by the borrower and request further personal details if necessary.

At this point, if the borrower is a good candidate for a loan, the lender can approve the loan and present the applicant with a final loan offer that the borrower can accept or deny. Borrowers will then have the loan funds deposited into their checking or savings account within two business days of the loan offer being accepted.

Pros Cons
  • Quick, convenient online application process: Applying for an Axos Bank personal loan can be done in a matter of minutes with the quick and convenient online application.
  • Applicants can check rates before applying for a personal loan: If an applicant is concerned about a hard pull impacting their credit score when they apply, they can check rates to see if a loan with Axos Bank is an option.
  • Fast funding: Once a borrower accepts their loan offer, Axos Bank can deposit funds into their checking or savings account within two business days.
  • Origination fee: If approved for a personal loan, borrowers are assessed an origination fee of 0.00% - 2.00%.
  • No physical branch locations that services borrowers or customers in person: Customers who prefer a face-to-face interaction when applying for a personal loan do not have that option since Axos Bank operates as a digital bank.
  • Requested loan amount and term not guaranteed: When a customer submits a loan request, the loan amount and term may be different than what they requested.

Who’s the best fit for an Axos Bank personal loan?

An Axos Bank personal loan is the best fit for a borrower who is looking for an online, digital lending experience. Customers can reach out to customer service via phone or email with questions or concerns, but because the lender operates strictly online, there is no in-person meeting with a loan specialist, which is what some borrowers may prefer. Borrowers who have plans to pay off their loan early may also find that Axos Bank is a good fit because there is no penalty for prepayment.

Borrowers who are not a good fit for an Axos Bank personal loan may want to consider alternative lenders and what they have to offer.

Alternative personal loan options


  • APR: 5.74% to 19.99%*
  • Minimum credit requirement: Not specified
  • Terms: 24 to 144 months
  • Origination fee: No origination fee

Borrowers who need between $5,000 and $100,000 can consider applying for a loan from LightStream, a division of Suntrust Bank. This lender does not charge any fees, so borrowers are free to pay their personal loans off early and not be penalized for doing so. The rates for a LightStream personal loan are fixed, and those with excellent credit will have access to the lowest available rate. By agreeing to have their payments automatically withdrawn each month, borrowers can enjoy a rate discount of 0.50%.

*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66. Truist Bank is an Equal Housing Lender. © 2022 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Marcus by Goldman Sachs®

  • APR: 6.99%–24.99%
  • Minimum credit requirement: 
  • Terms: 36 to 72 months
  • Origination fee: No origination fee

Marcus by Goldman Sachs offers fixed-rate personal loans ranging from $3,500 to $40,000. Borrowers may enjoy the fact that the lender does not charge fees, which will save the borrower money if they make a payment after the due date or pay off their loan early. If approved for a loan from Marcus by Goldman Sachs, borrowers will be able to customize their loan payment due date and can earn an on-time payment reward.

Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions.

OneMain Financial

  • APR: 18.00% to 35.99%
  • Minimum credit requirement: Not specified
  • Terms: 24 to 60 months
  • Origination fee: 1.00% - 10.00%

OneMain Financial offers secured and unsecured personal loans ranging between $1,500 and $20,000. Potential borrowers should note that the application for a personal loan starts online, but borrowers do have the opportunity to enjoy a more personalized experience because they actually meet with a loan specialist in person to complete the loan process. Borrowers who choose this lender can also enjoy being rewarded for paying their bill on time, as well as receiving discounts from various retailers.

Not all applicants will be approved. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Loan approval and actual loan terms depend on your state of residence and your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes.
Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600. 

Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.


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