Axos Bank Personal Loans Review for 2024

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Written By
G. Dautovic
September 14, 2023
Some or all of the products/services listed on this page are from our affiliate partners from which we receive commissions. This, however, does not influence the evaluations in our reviews. Learn more by reading our Advertiser Disclosure.

Axos Bank offers personal unsecured loans for borrowers with a good credit score. The amount you can borrow is up to $50,000 and can be used for various purposes - from paying off debts to purchasing jewelry.

Hundreds of reviewers have praised this bank for its fast borrowing procedure and two-days funding time. Let’s see what else you get with Axos personal loans. 

$7,000 to $50,000

Minimum credit score: 730

Check Rate

Fortunly Rating

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

11.79% - 20.84%
36-72 months
2 business days
Up to 2%
All 50 states
pros thumb up Strengths
  • Easy and fast online application
  • No collateral required
  • Affordable rates for borrowers with good credit scores
  • Fast funding
  • Excellent customer support
  • Axos bank app
pros thumb up Weaknesses
  • Doesn’t offer secured or co-signed loans
  • Origination fee
  • Late payment penalty

Axos Bank Overview

Axos Bank is a digital-only bank founded in 2000 as Bank of Internet USA. It focuses on innovative banking products and services, such as Axos online banking, mobile banking, and remote deposit capture.

Additionally, the bank offers a range of lending products, including personal loans, home equity loans, and lines of credit. 

A well-known financial institution with over $14 billion in assets, Axos Bank is headquartered in San Diego, California. It is owned and operated by Axos Financial.

Axos Bank is accredited by the BBB, and has an A+ score on their website. The bank offers various financial products for businesses and individual users. In our Axos Bank review, we’ll focus on personal loans, a great option for borrowers who need money for a large purchase or to consolidate debt.

These loans come with competitive interest rates and terms, making them a great choice for those looking for a tailor-made borrowing solution.

As its personal loans range from $7,000 to $50,000 and are not intended for those requiring a small loan, Axos Bank is the perfect place for borrowers who need a substantial amount of money.

All loans offered by Axos Bank are FDIC-insured, meaning that your money is safe no matter what happens with the bank. As Axos Bank is an online-only financial institution, there are no physical branches, so the only way you can apply for Axos unsecured personal loans is through the Axos Bank website.

How Does Axos Bank Compare to Other Lenders?

Axos Bank Logo
Axos Bank

11.79% - 20.84%


3-6 years

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Payoff Logo



2-5 years

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Best Egg Logo
Best Egg



3-5 years

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Axos Loan Application Process 

In our loan review, we’ll describe the application procedure for Axos Bank products, focusing on personal loans. We’ll also explain how the application works and what criteria you need to meet to obtain a loan. 

To apply for an Axos loan, you need to fulfill certain requirements and provide some documents. First of all, you must be at least 18 years old and have a home address in the US. 

As already mentioned, the entire procedure for getting the Axos Bank personal loan is online. You’ll need to provide your Social Security number and personal information, like name, phone number, and driver’s license.

Employment information is also required. Axos will check your income and credit history. When it comes to credit score information, the bank will pull a soft credit check during the pre-approval procedure. The minimum credit score you must have at that moment is 730. 

Within 48 hours of passing the pre-qualification procedure, the bank will extend a loan offer to you. Once you have accepted the loan and signed the necessary documents, you can expect the sum shortly in your bank account. 

Axos Personal Loan Basics 

The first thing you should know is that Axos bank loans are unsecured personal loans, meaning that you don’t need to have any valuable assets as collateral to apply. Unsecured loans are easier to get, especially if you have a good credit score. What’s more, borrowers with a good credit score will be able to qualify for better rates. 

Speaking of credit scores, Axos offers loans for borrowers with a good to excellent credit score. According to the loan requirements, the minimum credit score for a loan is 730.

It should also be noted that Axos doesn’t offer co-signed loans, which means that you’ll be the only one responsible for paying off your loan. 

Axos Bank personal loans can be used for various purposes, including debt consolidation, home improvements, big purchases, weddings, vacations, and other special occasions. 

Loan Amount and APR Details 

Axos offers personal loans that range from $7,000 to $50,000. Like other unsecured personal loan providers, Axos will check many things before approving the loan amount you applied for: your credit score, history of debt, and income. 

The only downside is that Axos doesn’t offer small personal loans. Compared to other unsecured personal loan lenders, Axos’ minimum loan amount is high, and it’s not suitable for smaller purchases. 

 Annual percentage rates at Axos range between 11.79% - 20.84%. According to Axos Bank loan reviews, the APR is low for those clients who apply for longer loan repayment terms and loans that are approximately $20,000.

For example, for a $20,000 loan with a 60-month term length, the APR will be 11.79%. This way, your monthly rate can be as low as $442.27.

Loan Fees

Axos charges the origination fee in the form of a one-time payment amounting to up to 2% of your loan. The amount that the bank charges depends on your credit history and will be deducted from the loan amount you receive.

As for other costs, there are fees that you pay if you miss an Axos loan payment. For example, there is a $25 insufficient fee and a late payment fee of $15. 

Repayment Terms 

Axos Bank’s term length can range from 36 to 72 months. You can link your bank account with Axos to enable automated payments and your installment will be withdrawn every month on the day of accepting the loan offer. 

Axos Loans Customer Support 

Axos support is available 24/7 to assist with your banking needs. You can contact the agents by email, or give them a call between 6 a.m. and 5 p.m. (PST) Monday to Friday. Axos Bank customer service agents are obliging, and will be happy to help you with anything from account inquiries to your Axos bank loan.

The agents are committed to providing the best possible service to their customers and strive to make each interaction a positive experience. Plus, the Axos online banking platform is easy to use and provides all the tools you need to manage your finances.

Why Should You Choose Axos Loans?

There are plenty of reasons why you should choose Axos personal loans when you need money. First of all, unsecured loans are easier and faster to get than secured ones, especially if your credit score is good.

The Axos application process can be completed online, meaning that you don’t need to visit a physical branch to obtain a loan. Moreover, Axos Bank has a mobile app you can download on your phone and do Axos banking on the go. 

According to Axos bank loans reviews, clients are most satisfied with the bank’s fast funding and website transparency. All information regarding loan requirements, loan rates, and payment terms is clearly displayed on the website.

Additionally, Axos Bank has reliable customer support you can contact at any time to ask additional questions.

Another advantage of the Axos loan is that it’s a good option to consolidate your debt. By consolidating all of your debts into one Axos loan, you can get a lower interest rate and save money on interest payments. In addition, the Axos bank debt consolidation loan can help you simplify your finances and stay organized.

Where Do Axos Loans Fall Short?

While Axos loans are a great option for borrowers who need to consolidate debts or finance costlier purchases, they are not a good solution for those looking for small personal loans.

Unfortunately, you cannot borrow less than $5,000, so if you need to cover smaller expenses, it might be a better idea to look for some other loan provider. 

One of the bank’s biggest drawbacks is that it reports payments solely to Experian. Most banks and online lenders report to all three major credit bureaus - Equifax, Experian, and TransUnion.

Since the three bureaus work independently, your credit score may vary and it can create obstacles when applying for another financial product.


How long does it take to get approved with Axos Bank?


Axos Bank is one of the quickest banks to get approved with. In most cases, you can complete the pre-approval within two minutes. This makes it a great choice for those who need to get started quickly. Plus, there are no hidden costs or surprises with Axos bank.

To complete the whole procedure and get the Axos Bank personal loan rate, you’ll need up to 48 hours. So if you're looking for a bank that will approve you quickly and without any hidden fees, Axos Bank is a perfect choice.

What credit bureau does Axos Bank use?


Unlike many other lenders and banks that use all three of the major credit bureaus (Equifax, Experian, and TransUnion), Axos reports only to Experian.

Is Axos a legit bank?


Axos is a legit bank and has been operating successfully for over two decades. It offers an array of products and services, including personal banking and small business banking.

Axos offers personal loans that are easy and fast to get, especially if you have a good credit score. So if you're looking for a reliable, reputable bank, Axos is a good option.

Who is Axos Bank owned by?


Axos Bank is owned by Axos Financial, a Las Vegas-based bank holding company. Founded in 2000 in San Diego, CA, the bank has since grown to become one of the largest banks in the United States.