Axos ONE 5.00% APY Promo: How It Works and What It Is Worth
Axos is paying new customers 5.00% APY on savings for six statement cycles, for accounts opened October 1 to 31, 2026. Here are the rules, who qualifies, what the extra rate is worth in dollars and when a no rules account is the better pick.
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New Axos customers who open an Axos ONE checking and savings bundle from October 1 to 31, 2026 can earn 5.00% APY on the first $49,999.99 in savings for their first six statement cycles. To get it, the checking account needs a $1,500 monthly direct deposit and a $1,500 average balance (or $5,000 of deposits and a $5,000 balance) each month. On $25,000, the promo is worth about $97 more than Axos’ standard 4.21% APY over six months. Terms as of Oct 10, 2026.
A 5.00% APY is the highest advertised savings rate among the accounts we track at our latest check. It is also a promotional rate with rules, a balance cap and an end date. Here is exactly how it works, so you can decide if it is worth moving your paycheck for.
What is the Axos ONE promo?
Axos ONE is a bundle of Axos ONE Checking and Axos ONE Savings that you open together. Normally, savings earns up to 4.21% APY on balances up to $249,999.99 in months you meet the rules, and a base rate of up to 1.00% APY in months you do not (as of Oct 27, 2026). The promo adds a 0.79% APY boost on top of the standard rate, for a total of 5.00% APY.
| Promo term | What Axos says |
|---|---|
| Promo APY | 5.00% (4.21% standard rate plus a 0.79% boost) |
| Balance it applies to | The first $49,999.99. Axos lists 4.21% APY on balances of $50,000 or more |
| How long | The first 6 statement cycles, including the cycle you open in |
| Open by | October 31, 2026 (accounts opened from October 1) |
| Who qualifies | New customers only. Anyone who has held any Axos Bank or UFB Direct account before, including loans and investments, does not qualify |
| Monthly rules | Option 1: $1,500 in direct deposits and a $1,500 average daily balance in checking. Option 2: $5,000 in qualifying deposits and a $5,000 average daily balance in checking |
| Savings balance limit | Keep an average daily savings balance of $249,999.99 or less |
| Minimum to open | $0 |
Source: Axos ONE page and promo terms, accurate as of Oct 10, 2026. Rates are variable and Axos can change or end the promo without notice.
What do you have to do each month?
The rules apply to your Axos ONE checking account, not savings. Each monthly qualification period runs from the first business day of the month to the 25th. In that window, checking needs one of these:
- Option 1: at least $1,500 in total qualifying direct deposits, plus an average daily balance of at least $1,500.
- Option 2: at least $5,000 in total qualifying deposits, plus an average daily balance of at least $5,000.
For Option 1, Axos counts electronic ACH deposits of a paycheck or government benefits, such as Social Security. Transfers from your other bank accounts, mobile check deposits and person to person payments do not count as direct deposits. For Option 2, Axos counts ACH transfers and inbound wires from outside accounts, mobile check deposits and ATM deposits. See what counts as a direct deposit for how banks decide.
Miss the rules in a month and savings drops to the base rate of up to 1.00% APY for that cycle, and checking earns 0.00%.
When should you open to get all six months?
Axos says accounts opened on or after the 25th of a month start earning the promotional APY the following month, and that the boost covers the first six statement cycles, including the one you open in. So opening before October 25 is likely to give you the most boosted months. If timing matters to you, confirm with Axos before you open.
What is the promo worth in dollars?
Six months of interest, if you meet the rules every month and keep the balance steady:
| Savings balance | At 5.00% promo | At 4.21% standard | At 4.27% (Peak Bank, no rules) | Promo extra vs. standard |
|---|---|---|---|---|
| $5,000 | $123 | $104 | $106 | $19 |
| $10,000 | $247 | $208 | $211 | $39 |
| $25,000 | $617 | $521 | $528 | $97 |
| $49,999 | $1,235 | $1,042 | $1,056 | $193 |
Estimates using APYs as of Oct 10, 2026 for Axos and Oct 1, 2026 for Peak, held for 6 months with no deposits or withdrawals. Rates are variable.
The honest takeaway: the boost is real money, but it is capped. Even at the $49,999 maximum it adds about $193 over six months compared with Axos’ standard rate. And it asks you to keep at least $1,500 in Axos checking, which earns 0.51% APY when you meet the rules.
Is it better than a no rules account?
For the six promo months, yes, if you meet the rules every month. On $25,000, Axos at 5.00% earns about $617 vs. about $528 at Peak Bank Envision at 4.27% APY with no direct deposit needed. After the promo, Axos’ standard rate is 4.21% APY, so the two are close.
A no rules account is the better fit if:
- Your paycheck is already split, irregular or paid by check.
- You would not keep $1,500 sitting in checking.
- You have held an Axos or UFB Direct account before.
- You want one simple account and do not want to track monthly rules.
See our head to head on Axos ONE vs. Peak Bank and the best savings accounts with no direct deposit.
Why our ranking still uses 4.21%
Our best high yield savings accounts ranking scores each account on its standard rate, because the promo lasts six months, applies to the first $49,999.99 and is only open to new customers. Axos ONE Savings is rated 4.4 out of 5 using 4.21% APY. We show the promo on its card while it runs. See our published scorecard.
Is Axos safe?
Yes. Axos Bank is FDIC insured (certificate 35546), so deposits are covered up to $250,000 per depositor, per ownership category. Axos also offers up to $2.5 million in extra FDIC coverage through its Insured Deposit Program. Read is Axos Bank legit?
How to get the promo
- Check you are new to Axos. Any past Axos or UFB Direct account rules you out.
- Open the Axos ONE bundle on Axos’ site by October 31, 2026, ideally before October 25.
- Set up direct deposit of at least $1,500 a month into Axos ONE Checking through your employer or benefits provider.
- Keep an average of $1,500 in checking through the 25th of each month.
- Move savings in up to $49,999.99 to get the full boost.
- Check your statement each month to confirm the promotional APY posted.
Rates are variable and can change at any time. Each rate shows the date the bank says it applies; we check every figure against the bank’s own website.
Compare this offer with other savings account bonuses we verified.
Frequently asked questions
Is Axos really paying 5.00% APY?
Yes, for new customers who open an Axos ONE bundle from October 1 to 31, 2026 and meet the monthly rules. It applies to the first $49,999.99 in savings for six statement cycles. Terms as of Oct 10, 2026.
What are the Axos ONE requirements?
Each month, Axos ONE Checking needs $1,500 in direct deposits and a $1,500 average daily balance, or $5,000 in qualifying deposits and a $5,000 average daily balance.
What happens after six months?
Savings goes back to the standard rate, up to 4.21% APY in months you meet the rules or up to 1.00% APY when you do not.
Can existing Axos customers get the 5.00%?
No. Axos says anyone who has held any Axos Bank or UFB Direct account before does not qualify.
Is the Axos promo worth it?
If you can move a paycheck and keep $1,500 in checking, it adds about $97 over six months on $25,000 vs. the standard rate. If not, a no rules account is simpler.
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