Axos Bank Personal Loans Review: What You Need To Know

Axos Bank offers unsecured personal loans of $7,000 to $50,000, best suited for borrowers with very good to excellent credit (730 or higher) who want a mid-sized loan, fast funding and a fixed rate capped well below the industry norm at 20.84%.

Key Takeaways

• Axos fits borrowers with strong credit who need $7,000 to $50,000 fast. You'll typically get funded within one to two business days after signing, and existing Axos customers may qualify for same-day funding.

• You need a 730-plus credit score to qualify. Starting APRs run 11.79% and origination fees can reach 2%, so shoppers with top-tier credit may find lower rates at LightStream or SoFi.

• An Axos Total Loan Rewards Checking account can offset the cost. You can earn up to 10% annualized cash back (capped at $100 a month) on your personal loan payments if you keep at least double your monthly payment in the account.

• Before you apply, prequalify with a soft credit pull that won't hurt your score, then compare personal loan offers from at least two other lenders. Skip Axos if you need under $7,000, have credit below 730 or want the single lowest APR on the market.

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Axos Personal Loans at a Glance

Rates and terms are subject to change and vary by creditworthiness, income and loan purpose, so confirm your actual offer during prequalification.

What Is Axos Bank and How Do Its Loans Work?

Founded in 2000, originally as Bank of Internet USA, and headquartered in San Diego, Axos Bank (NYSE: AX) is a fully digital bank with no physical branches, offering unsecured personal loans nationwide alongside checking, savings, mortgages and investment accounts. Because there's no collateral requirement, approval and pricing depend entirely on your credit profile, income and existing debt.

What Are the Pros and Cons of Axos Personal Loans?

Here's an overview of the pros and cons of personal loans with Axos specifically, so you can see if it's the right fit.

What Rates, Fees and Terms Does Axos Offer?

Here are the key features of Axos personal loans:

• APRs range from 11.79% to 20.84%, depending on your creditworthiness and loan term.

• Loan amounts range from $7,000 to $50,000.

• Repayment terms run 36 to 72 months (three to six years).

• Most approved loans fund within one to two business days after you sign your agreement; existing Axos customers may see same-day funding.

• The origination fee runs 0% to 2% of the loan amount and is deducted from your proceeds before disbursement.

MoneyLion offers a service to help you find personal loan offers. Based on the information you provide, you can get matched with offers for up to $100,000 from our top providers. You can compare rates, terms and fees from different lenders and choose the best offer for you.

Does Axos Offer Cash Back or Rate Discounts?

Yes. Axos's Total Loan Rewards Checking account lets you earn up to 10% annualized cash back on your monthly personal loan payment, capped at $100 a month.

To qualify, you generally need to keep at least double your monthly loan payment in the checking account by the last day of the month. Separately, routing a monthly personal loan, auto loan or mortgage payment through an eligible Axos Rewards Checking account can also boost that account's own APY, according to third-party rate breakdowns of Axos's tiered checking product. Confirm current terms directly with Axos before opening an account for this purpose, since promotional structures can change.

What Credit Score Do You Need for an Axos Personal Loan?

Axos personal loans require a minimum FICO score of 730, which falls at the top of the "good" range and just below "very good." Lenders evaluate creditworthiness against the overall FICO Score range of 300 to 850:

If your score falls short of Axos's personal loan requirements, focus on paying down existing debts and staying current on payments, since payment history accounts for 35% of your FICO Score, making it the single most influential factor.

How Fast Can You Get Your Money?

You can generally expect your money within one to two business days after loan acceptance, though the exact timing depends on a few factors:

• Some applicants get an approval decision within 24 hours of submitting an application, though yours may take longer depending on verification.

• Axos typically funds the loan within one to two business days after you sign your loan documents; existing Axos banking customers may qualify for same-day funding.

• Once funds reach your account, availability can depend on your own bank's processing policies.

How Do You Apply for an Axos Personal Loan?

1. Prequalify. Visit Axos's personal loans page and enter your desired loan amount, term and purpose. This step uses a soft credit pull, so it won't affect your credit score.

2. Provide your details. Submit personal information, including your name and Social Security number, along with proof of income and a valid ID.

3. Review your offer. If you prequalify, you'll see your personalized rate and term options. Compare these against other lenders before committing.

4. Get funded. Once approved and your documents are signed, expect funds in your bank account within one to two business days.

How Does Axos Compare to Other Lenders?

Wondering how Axos stacks up against the competition? Here's a quick comparison:

Is Axos Bank Legit and Safe?

Yes. Axos is a publicly traded company with more than $20 billion in assets, and its deposit accounts are FDIC-insured up to $250,000 per depositor, per ownership category.

Axos has been BBB-accredited since 2011 and holds an A+ rating. On Trustpilot, the bank draws a mixed but generally solid response, with most negative reviews tied to checking and savings account service rather than loans. The Consumer Financial Protection Bureau's complaint database logged a small number of personal-loan-related complaints against Axos Financial Inc. in 2024, most commonly about unexpected fees or interest, so read your loan disclosures closely before signing.

Who Should Get an Axos Personal Loan?

Axos personal loans make the most sense for borrowers with good credit of 730 or higher who might not qualify for the very lowest rates other lenders offer.

Choose Axos if you:

• Have a credit score of 730 or higher and want a mid-sized loan between $7,000 and $50,000.

• Need fast funding and value a fully digital banking experience.

• Are comfortable banking entirely online without physical branch access.

• Can open a Total Loan Rewards Checking account to offset your loan cost with cash back.

Look elsewhere if:

• Your credit score is below 730.

• You need a loan amount under $7,000.

• You're hunting for the single lowest possible APR. LightStream, Upgrade or SoFi may offer better terms depending on your profile.

• You need a co-signer or joint applicant, since Axos only accepts individual applications.

The Bottom Line

Axos Bank personal loans work best for borrowers with very good to excellent credit (730 and up) who want a mid-sized loan of $7,000 to $50,000, fast funding and a rate ceiling below the industry norm. The tradeoff is a high starting APR of 11.79%, a $7,000 loan minimum and an origination fee of up to 2%.

If your credit is still a work in progress, lenders like Upgrade or Upstart tend to be more accessible. And no matter which lender you're considering, compare personal loan offers from a few sources before accepting one, since APR (which includes both the interest rate and the origination fee) is the most accurate way to judge the true cost of a loan.

Key Terms

• Annual percentage rate (APR): The yearly cost of borrowing, expressed as a percentage, that includes both the interest rate and certain fees like an origination fee.

• Origination fee: A one-time charge some lenders deduct from your loan proceeds before you receive funds; Axos charges 0% to 2%.

• Unsecured personal loan: A loan approved based on creditworthiness and income rather than collateral.

• FICO Score: A widely used credit scoring model ranging from 300 to 850, grouped into tiers from poor to exceptional.

• Soft credit inquiry: A credit check used for prequalification that doesn't affect your credit score.

• Hard credit inquiry: A formal credit check triggered by a full loan application; it can temporarily lower your score.

• Debt-to-income (DTI) ratio: The share of your gross monthly income that goes toward existing debt payments, used by lenders to assess repayment ability.

• Prepayment penalty: A fee some lenders charge for paying off a loan early; Axos does not charge one.

Summary generated by AI, verified by MoneyLion editors

Sources

• Better Business Bureau: Axos Bank Business Profile

• myFICO: Credit Score Ranges

• Consumer Financial Protection Bureau: What Is APR?

• Axos Bank: Our History

Summary generated by AI, verified by MoneyLion editors

FAQ

Here are quick answers to common questions about Axos Bank personal loans:

What credit score do I need for an Axos personal loan? Axos requires a minimum credit score of 730, along with verifiable income. This is one of the higher credit score requirements among personal loan lenders.

How long does it take to get money from Axos? Most borrowers receive funds within one to two business days after signing their loan documents. Some existing Axos customers may qualify for same-day funding. How quickly you can access the money after that depends on your own bank's processing time.

Does checking my Axos rate affect my credit score? No. Axos uses a soft credit pull for prequalification, which doesn't impact your credit score. A hard inquiry only occurs if you decide to formally apply for a loan.

Does Axos Bank allow co-signers? No. Axos Bank only accepts individual loan applications, so you can't add a co-signer or apply jointly with another borrower.

What can I use an Axos personal loan for? Axos personal loans can be used for debt consolidation, home improvements, medical bills, large purchases, business purposes and most other major expenses.