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About Bankrate Score
Axos Bank is the banking subsidiary of Axos Financial Inc. and is based in San Diego. It’s a digital bank with no physical branches.
$7,000 - $50,000
starting at 9.29%
36 to 72 months
700
Prequalification offered.
Range of term options.
No prepayment penalties.
High credit minimum score.
Origination fee.
No brick-and-mortar bank branches.
While Axos Bank doesn't list all of its requirements, it does say that you'll need the following to qualify for one of its personal loans.
An Axos Bank personal loan borrower must have a good credit score of at least 700, so the lender isn’t a good option for people with low credit scores or no credit history. Other criteria Axos considers includes:
Borrowers with good credit scores may be able to score the low minimum interest rates offered by Axos Bank and LendingClub. For the latter, it’s 9.57 percent, compared to Axos' 9.29 percent.
However, LendingClub has a much higher maximum APR of 35.99 percent. Still, you could find this lender ideal if you want to borrow a little less than $5,000 since its minimum loan limit is $1,000. LendingClub also offers the ability to change your due date once.
Axos Bank has a number of benefits and drawbacks to consider before applying.
When you’re ready to apply for a personal loan with Axos Bank, here’s what to do:
| Overall Score | 4.6 | Explanation |
|---|---|---|
| Availability | 4.4 | While not the lowest in the business, Axos’ minimum APR is still fairly competitive. |
| Affordability | 4.5 | Axos offers a quick funding timeline but high credit score requirements. |
| Customer Experience | 4.4 | Axos has customer service options available whenever it is needed. |
| Transparency | 5.0 | Clearly stated credit requirements, fees and the ability to prequalify earn Axos a high score. |
To select the best personal loans, Bankrate’s team of experts evaluated over 30 lenders. Each lender was ranked using a meticulous 20-point system, focusing on four main categories:
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.
