In today’s fast-paced world, having access to a reliable and trustworthy online bank can make all the difference. Axos Bank Personal Loan is one such online bank that offers a range of personal loans and financial products to meet your banking needs. In this article, we will take a closer look at Axos Bank Personal Laon, its services, and customer reviews to help you determine if it is the right choice for your personal loan needs.

What is Axos Bank?

Axos Bank is an online bank founded in 2000 under the name Bank of Internet USA. The bank has since rebranded to Axos Bank in 2018 and is based in San Diego, California. The bank’s focus is to provide innovative digital banking solutions to customers nationwide, which include personal loans, high-yield savings accounts, business and commercial banking, and investment portfolios.
It offers personal loans ranging from $5,000 to $50,000 with an APR of 7.15% to 17.99%, depending on your credit score. The loan’s repayment terms range from three to six years, depending on your preference, and there is an origination fee of 1% to 2% of the loan amount that is deducted from the loan proceeds. It’s worth noting that programs, rates, terms, and conditions are subject to change without notice, so be sure to check the most updated information before applying.
How Does Axos Bank Work?
Axos Bank’s application process for personal loans is quick and easy, and it all starts with filling out an online application. You can get prequalified in just a few minutes with a soft inquiry that won’t hurt your credit score. If you receive a preliminary offer that meets your needs, you can then accept it and provide documentation to confirm your identity, income, and bank account. Once you accept the final loan offer, the money will be deposited into your bank account within one business day.
Its underwriting team will review your application and provide you with their decision within 48 hours. The entire process can often be completed in just a few days, making it a quick and convenient option for those in need of a personal loan.
How to Qualify for an Axos Bank Personal Loan?
To qualify for an Axos Bank personal loan, you will need to meet certain minimum qualifications. These include:
- A credit score of at least 700. The bank uses credit scores to determine a borrower’s creditworthiness and risk of default. If your credit score is lower than 700, you may still be eligible for a personal loan, but you may receive a higher interest rate or less favorable terms.
- A steady income. To be approved for a personal loan, you will need to show that you have a reliable source of income. This can include income from a job, self-employment, or investments.
- Four years of credit history. It looks at your credit history to evaluate your creditworthiness and assess your risk of default. If you have a limited credit history, you may be eligible for a personal loan, but you may receive a higher interest rate or less favorable terms.
- Meet the minimum loan requirements. Its personal loans range from $5,000 to $50,000, and the loan terms range from three to six years. You will need to meet these minimum requirements to be eligible for a personal loan to pay your credit card debt.
It’s important to note that meeting these minimum qualifications doesn’t guarantee approval for a personal loan. It will also evaluate other factors, such as your debt-to-income ratio, employment history, and other financial obligations when deciding whether to approve your loan application.
What types of personal loans does Axos Bank offer?
Axos Bank offers several types of personal loans to meet the varying needs of its customers. Here are some of the types of personal loans offered by Axos Bank:

- Debt Consolidation Loans: Its debt consolidation loans are designed to help you consolidate high-interest debt into a single, lower-interest loan. With a debt consolidation loan, you can simplify your monthly payments and potentially save money on interest charges.
- Home Improvement Loans: If you’re planning to make improvements to your home, home improvement loans can provide the funds you need to get the job done. These loans offer competitive interest rates and flexible repayment terms.
- Personal Loans for Major Purchases: Whether you’re planning to buy a new car, pay for a wedding, or fund a major purchase, Axos Bank’s personal loans can help you get the funds you need. These loans offer competitive interest rates and flexible repayment terms.
- Medical Expense Loans: Medical expenses can be costly, and Axos Bank’s medical expense loans can help you cover the cost of medical bills and procedures. These loans offer competitive interest rates and flexible repayment terms.
- Student Loan Refinancing: Axos Bank also offers student loan refinancing, which can help you lower your monthly payments and potentially save money on interest charges. With student loan refinancing, you can consolidate your existing student loans into a single, lower-interest loan.
It’s worth noting that the availability of these loan types may vary depending on your location and other factors. Additionally, the interest rates, loan terms, and other details of these loans may also vary depending on your individual circumstances and creditworthiness.
Can you apply for an Axos Bank personal loan with a co-signer?
Axos Bank does not require a co-signer for personal loans, but you may be able to add one if you need to strengthen your application.
How long does it take to get a decision on an Axos Bank personal loan application?
Axos Bank’s underwriting team typically reviews loan applications within 48 hours and provides a decision shortly thereafter. However, the time frame may vary depending on the complexity of your application and the volume of loan applications being processed at the time.
What is Axos Bank’s customer service like?
Axos Bank offers customer support via phone and email, and their representatives are available seven days a week. Some customers have reported experiencing long wait times or difficulty reaching a representative, but others have had positive experiences with Axos Bank’s customer service team.
Does Axos Bank offer any perks or benefits for borrowers?
Axos Bank offers a few benefits for borrowers, including a referral program that rewards you for referring friends and family to the bank. Additionally, borrowers who set up automatic payments for their loans may be eligible for a discount on their interest rate.

Axos Bank BBB Reviews
Axos Bank is accredited by the Better Business Bureau (BBB) and has an A+ rating. However, the company has received a significant number of negative reviews online, which have led to a 1-star out of 5-star customer rating. In the last three years, the company has received an average of 111 customer reviews and 78 complaints, which is quite a high number for a bank of its size.
Axos Bank FAQs
How much does Axos Bank charge?
Axos Bank offers personal loans with an APR starting at 7.15%, depending on your credit score. There is an origination fee of 1% to 2% of the loan amount that is deducted from the loan proceeds. The rate and payments on your loan will be fixed and will not change over the life of the loan. It’s essential to note that a $15 late fee applies to payments made after the grace period, and a $25 insufficient funds fee will be charged for bounced payments.
Are there any pre-payment penalties?
Axos Bank does not charge prepayment fees, so you can pay off your loan early without any penalties. This makes it a great option for borrowers who want the flexibility to pay off their loans on their own terms.
How does Axos Bank affect your credit?
When you apply for a loan, most lenders will perform a soft credit check initially to give you an idea of the interest rates and loan terms you could qualify for. This won’t affect your credit score. However, once you decide to proceed with the actual loan application, the lender will need to do a hard credit inquiry to get a full view of your credit history and offer you final rates. These hard inquiries can lower your credit score.
Can you cancel Axos Bank?
Before taking out a personal loan, make sure you are confident in your decision. Once the funds have been deposited into your account, you will not be able to change or undo the transaction. Double-checking beforehand can avoid any complications later on.
Is Axos Bank legit or a scam?
Axos Bank is a legitimate financial institution that has been in operation for many years. It offers a variety of services to help meet your needs and has an A+ rating from the Better Business Bureau. However, the company has received a significant number of negative reviews online, leading to a 1-star customer rating. With so many unhappy customers, giving them a good rating is difficult.
Conclusion
Overall, Axos Bank is a legitimate online bank that offers a range of personal loans and financial products to meet your banking needs. Their application process is quick and easy, and they don’t charge prepayment fees, which makes it a flexible option for borrowers. However, their customer rating is quite low, and they have received a significant number of complaints in the last three years. Before taking out a loan, it’s essential to do your research and compare interest rates and repayment terms from different lenders. By doing so, you can ensure that you are making an informed decision and choosing the best option for your financial needs.
Axos Bank
Axos Bank Review
Overall, Axos Bank is a legitimate online bank that offers a range of personal loans and financial products to meet your banking needs. Their application process is quick and easy, and they don’t charge prepayment fees, which makes it a flexible option for borrowers. However, their customer rating is quite low, and they have received a significant number of complaints in the last three years. Before taking out a loan, it’s essential to do your research and compare interest rates and repayment terms from different lenders. By doing so, you can ensure that you are making an informed decision and choosing the best option for your financial needs.
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