Axos ONE savings and checking bundle: Earn a competitive APY and additional benefits

Consider Axos Bank® for all your banking needs as it offers an online-only platform.

The Axos ONE® savings and checking package offers a combined savings and checking account with a competitive return on your cash, as well as additional benefits.

Here's what to know.

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What's Axos ONE?

With Axos ONE, you can manage your savings and checking accounts, deposit and withdraw cash, earn interest, and transfer money using the bank's mobile app.

Key features

The Axos ONE checking account offers competitive interest rates, with the potential to earn up to 0.51% APY on cash and up to 4.86% APY on savings if you meet certain qualifications. If you don't meet these qualifications, your checking account balance won't earn any interest, and your savings balance will earn a lower base rate of 1.00% APY.

No minimum deposit or balance requirements, no monthly maintenance, account opening or overdraft fees are necessary to earn the higher APY.

With early payday, you can receive your payment up to two days in advance, and the FDIC insurance has been increased to cover up to $250 million.

Pros and cons

Who's Axos ONE for?

If you want your checking and savings accounts combined and meet the $1,500 monthly direct deposit and average daily balance requirement to receive higher rates, Axos ONE is the account for you.

Alternatives to Axos ONE

If you cannot meet the $1,500 monthly direct deposit and minimum daily balance requirements of Axos ONE for its promotional rate, consider SoFi Checking and Savings as an alternative digital banking bundle option.

Earn a competitive APY on both savings and checking with SoFi Checking and Savings, which requires only direct deposit setup with no minimum required. Without direct deposit, you'll earn 1.20% APY on savings and 0.50% APY on checking. There are no account, overdraft, or monthly fees. Additionally, you can get FDIC insurance up to $2 million and get paid up to two days early when setting up direct deposit.

Another option for earning a high APY on savings is to sign up for a high-yield savings account, such as one of the following, which both currently offer APYs above the national average.

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