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Axos Bank Promotions: $500 in Bonuses + 3.91% APY

Here’s everything you need to know about Axos Bank promotions; how to qualify, best bonuses currently available, when the offers expire, and more!

Axos Bank is an online-only bank based in California that offers both personal and business banking products. It was founded in 2000 through a consolidation of BofI Federal Bank brands, including UFB Direct.

While Axos offers fewer products than the national banks, they have great checking account bonuses and their UFB High Rate Savings account consistently ranks at the top of the list for the best interest rates.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, and Axos Bank.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Current Axos Bank Promotions

Here are the best Axos promotions, offers, and bonuses currently available. The list below includes a top-ranked savings account with one of the highest yields offered, a checking account bonus, a savings account bonus, brokerage bonuses, and a business checking account offer.

1. UFB High Rate Savings – 3.91% APY

UFB Direct, an online division of Axos Bank, offers one savings account called UFB High Rate Savings. This account is geared towards savers and offers an exceptional rate of 3.91% APY on your balance regardless of the amount.

This savings account features no monthly maintenance or service fees, no minimum deposit requirement, and a complimentary ATM card for convenient access to your money. FDIC insurance is covered through their parent bank, Axos Bank.

2. Axos Rewards Checking Account – $100 Bonus

Axos Bank is offering a $100 bonus for opening a Rewards Checking account and making qualified direct deposits. You’ll also earn up to a 1.25% APY and enjoy unlimited ATM fee reimbursements.

In order to receive the bonus, make direct deposits totaling at least $1,500 in a single calendar month within the first three calendar months of opening the account.

Bonus Amount: $150
Account Type: Personal Checking
Availability: Nationwide
Expiration: December 31, 2022

Bonus Requirements:

  1. Open a new Axos Rewards Checking account by clicking this link.
  2. Apply the promo code HOLIDAY during account sign-up.
  3. Make one or more direct deposits totaling $1,500 within a single calendar month during the first three (3) calendar months of account opening.

3. Axos Basic Business Checking Account – $200 Bonus

Axos Bank is offering new business owners a $200 welcome bonus and established business owners a $100 welcome bonus when they open a new business checking account with deposits totaling $2,500 or more.

Business owners include self-employed people like Uber drivers, eBay sellers, and other side hustlers. You don’t need to have a registered business – sole proprietors using their own Social Security number count as business owners too:

  • If you opened your business after June 1, 2020, Axos Bank will deposit a $200 bonus to your new business bank account. Use promo code NEWBIZ200 on your application.
  • Not a new business? Axos Bank will deposit a $100 bonus to your new business bank account. Use promo code NEWAXOSBIZ for a $100 bonus.

Bonus Amount: up to $200
Account Type: Business Checking
Availability: Nationwide
Expiration: December 31, 2022

Bonus Requirements:

  1. Open a Axos Basic Business Checking account using the link below.
  2. Deposit $2,500 or more into your new business checking account.
  3. Maintain an average daily balance of $2,500 or more in the first two months after account opening.
  4. Receive a $100 or $200 bonus deposited into your business checking account within 5 business days of your statement cycle date.

4. Axos Self-Directed Trading – $200 Bonus

Get a $200 bonus when you open an Axos Self-Directed Trading account, deposit at least $2,000, and complete two trades. This investing account is available nationwide.

This brokerage account lets you trade thousands of stocks and ETFs with $0 commissions. The account also features low-cost options trading and the ability to invest in mutual funds.

Bonus Amount: $200
Account Type: Brokerage Account
Availability: Nationwide
Expiration: N/A

Bonus Requirements:

  1. Enroll in the offer by opening an Axos Invest account by clicking the ‘View Offer’ button below.
  2. Fund your account with at least $2,000 within 90 days of account opening.
  3. Complete two trades of $25 each within 90 days of account opening.
  4. Maintain an account balance of $2,000 or more for 90 days (don’t worry – market fluctuations and/or trading losses won’t count against your $1,000 balance).
  5. Receive you $200 bonus within 30 days after the 90-day qualification period.

5. Axos Managed Portfolio – $200 Bonus

Open an Axos Managed Portfolio account and earn a $200 bonus when you deposit $2,000 or more into your new account.

The Managed Portfolio is an automated investing platform comprising of expertly-crafted ETF portfolios that offer tax-loss harvesting capability. This Robo-Advisor account is a good choice for hands-off investors looking to align their unique risk appetite with continuous, low-cost portfolio management

Bonus Amount: $200
Account Type: Brokerage Account
Availability: Nationwide
Expiration: N/A

Bonus Requirements:

  1. Enroll in the offer by opening an Axos Managed Portfolio account by clicking the ‘View Offer’ button below.
  2. Fund your account with at least $2,000 within 90 days of account opening.
  3. Maintain an account balance of $2,000 or more for 90 days (don’t worry – market fluctuations and/or trading losses won’t count against your $1,000 balance).
  4. Receive you $200 bonus within 30 days after the 90-day qualification period.

6. UFB High Rate Money Market – 3.91% APY

Axos also offers a UFB High Rate Money Market that you can enjoy a 3.91% APY on all balances. This account is similar to the UFB High Rate Savings mentioned earlier, but adds check-writing capabilities.

This account has no monthly maintenance fees if you maintain a balance of $5,000 or more, otherwise the fee is $10 per month.

If writing checks isn’t important for you or if it’s difficult to maintain the minimum balance required to waive the fee, I would recommend the UFB High Rate Savings account.

7. Axos Bank Refer-A-Friend – $20 Bonus Per Referral

Once you’re an Axos customer, you can earn cash bonuses when you refer friends and family through the Axos Referral Program. There’s no maximum limit. Refer as many people as you like.

Axos Essential Checking Account

Refer your friends and get a $20 cash bonus for each person that uses your referral link to open an Axos Essential Checking account. In order to receive the $20 referral bonus, your friend must:

  • Open a new Essential Checking account using your unique referral link
  • Receive at least $500 in direct deposit funding within 90 days of opening new Essential Checking account

The $20 Referral gift will be deposited into your account within 7 business days of your statement cycle end once your referred friend meets eligibility requirements.

Bonus Amount: $20
Account Type: Personal Checking
Availability: Nationwide
Expiration: N/A

Expired Axos Bonuses

Theses bonuses were recently offered by Axos, but have since expired. Axos may relaunch these offers again or have a similar deal in the future, so bookmark this page and check back often:

  • Axos $100 Rewards Checking Account bonus
  • Axos $300 Rewards Checking Account bonus
  • Axos Self-Directed Trading – $150 Bonus
  • Axos Managed Portfolio – $150 Bonus

Tips & Tricks For Axos Bank Promotions

Existing vs New Customers

Axos Bank bonuses are typically for new customers only, unless stated otherwise. But new customers is not what we think as “new”. Everyone is eligible for one new account-related bonus per calendar year.

In layman terms, that means you’ll qualify for a bonus this calendar year if you didn’t get one year-to-date. Here are some illustrative examples:

  • You received your last Axos new account bonus on December 31 of the prior year = you’re eligible for this promotion.
  • You received your last Axos new account bonus on April 15 of this year = you’re not eligible for this promotion

Note that although this is Axos’ written policy, there have been multiple data points that people are able to get multiple account opening bonuses so long as each account is from a different “product family”.

For example, if you receive a bonus for opening a personal Axos checking account, you won’t be eligible to receive another bonus on a different personal checking account. However, you’re still qualified to get a sign-up bonus for a business checking account or a brokerage account since they’re a different “product family”.

1-Year Limit

Axos Bank limits you to one bonus per calendar year.

Technically, this means if you received a bonus on or before December 31st of this year, you can get another bonus as soon as January 1st of the following year.

Receiving two bonuses within days of each other is possible given the current rules.

Bonus Clawbacks

Axos Bank doesn’t claw back the welcome bonuses like other banks, but if you don’t keep the account open for at least 180 days, you’ll be charged a $50 early termination fee.

This applies for all Axos promotions, regardless if the cancelled account is a consumer or business bank account.

Axos Promotions FAQs

Are sign-up bonuses taxed?

Bonuses may be taxable and reported on IRS Form 1099-MISC (or 1099-INT).

You might not receive a tax form if the total bonuses received from Axos is $600 or less, but legally you’re required to self-report as it’s considered income. Consult your tax advisor for further information.

Where do I find Axos promo codes or coupon codes?

You can find most Axos Bank promo codes or coupon codes under each offer on this page or by clicking here to search for all Axos promotions on this site.

At the time of this writing, Axos doesn’t have targeted offers. All promotions are publicly available.

Do Axos offers expire?

Yes, like most bank bonuses, Axos offers generally have an expiration date. If they don’t, I’ll mark the expiration date as “N/A”.

How long does it take to receive my bonus from Axos?

Payouts on bonuses from bank offers vary. Each offer may detail when the bonus will be received, so read each individual offer carefully.

Axos will typically pay out welcome bonuses or sign-up bonuses within 5 business days of the statement cycle immediately following the end of the qualifying period.

If you haven’t received your bonus in the expected amount of time, contact Axos customer service at 1-888-502-2967. You can also log in to your online banking to send a secure message 24 hours a day, 7 days a week (excluding Thanksgiving Day and Christmas Day).

Can I take advantage of multiple Axos promotions?

Axos Bank’s official policy is that you can receive one account-related bonus per calendar year. However, in reality, multiple people have received more than one sign-up bonus provided that the account they open is from a different product family.

For example, once you receive a bonus for opening a personal checking account, you won’t be eligible to receive another bonus on a different Axos personal checking account.

However, you may be eligible for an Axos business checking account bonus or a brokerage bonus. Because this isn’t explicit in their terms and conditions, your mileage may vary (YMMV).

The Bottom Line

Axos may not be as well-known as national banks like Chase or American Express and their product offerings may be smaller, but Axos’ promotions are on par with the big banks.

Their banking products are also extremely competitive. For instance, the UFB High Rate Savings account is always at the top or near the top in our list of the best high yield savings accounts.

In fact, I haven’t found another savings account that offers a 3.91% APY with no monthly service fees and no minimum balance requirements. It’s just an incredible account to grow your money.

Personally, I use that account to save some of my money and I also have a business checking account with them. For the latter, my primary intention was to grab the sign-up bonus, but ended up keeping the business account due to its features.

While you shouldn’t choose a bank solely because of a new customer bonus, it’s a great incentive to try out the products they offer – and Axos has a handful of great accounts for both consumers and businesses.

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