- Who is Axos Bank Best For?
- Axos Bank Personal Loan Pros and Cons
- How to Apply for an Axos Personal Loan
- Axos Bank Personal Loan Frequently Asked Questions
- Why You Should Trust Us
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Axos Bank Personal Loan Apply now lock icon An icon in the shape of lock. Compare loan options and get your rates today.
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Regular APR11.79% to 20.84%
Loan Amount Range$7,000 to $50,000
Minimum Credit Score720
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Solid maximum loan amount
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Good APR range
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Prequalification available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No prepayment penalty
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Funds available quickly
- con icon Two crossed lines that form an 'X'. High minimum loan amount
- con icon Two crossed lines that form an 'X'. High minimum credit requirements
- con icon Two crossed lines that form an 'X'. Origination and late fees
- con icon Two crossed lines that form an 'X'. No co-signed loans available
The bottom line: Axos Bank has a good APR range on its personal loans, as well as fast funding times. However, the loan minimum is quite high, so you may prefer another lender if you only need a small amount of money. See Insider's picks for the best personal loans.
Who is Axos Bank Best For?
Axos is best for borrowers with great credit scores who need to take out a sizeable amount of money and want their money quickly. However, if you want to enlist a cosigner or avoid fees, you're better off choosing a different lender.
Axos Bank Personal Loan Details
Axos Bank offers fixed-rate personal loans ranging from $7,000 to $50,000. These personal loans are unsecured, meaning you don't have to put down any collateral — like a house or car — to get them.
Axos' rates range from 11.79% to 20.84%. This is relatively similar to SoFi's range of 8.99% - 29.99% fixed (with all discounts). Your loans will be set at a fixed interest rate that doesn't change over the life of the loan.
The term lengths on Axos personal loans are between three and six years. Axos allows you to use a personal loan for many reasons, including home improvement, major purchases, and medical bills.
See our picks for the best debt consolidation loans »
Axos Bank Personal Loan Pros and Cons
Axos Bank Personal Loan Pros
- Solid maximum loan amount. You're able to borrow up to $50,000 with Axos, which is useful if you need a large chunk of change for something like home improvement costs.
- Good APR range. Axos' minimum rates are competitive with some of the best personal loan lenders in the industry, and its maximum rates are reasonable. Keep in mind that the better your credit score and overall financial situation, the better your rate should be.
- Prequalification available. Axos will perform a soft credit check when you initially apply for your loan, which will allow you to see your personalized rates but won't impact your credit score. Prequalification allows you to see rates from multiple companies and shop for the best terms without hurting your credit.
- No prepayment penalty. If you pay off your loan early, it won't cost you an extra dime — plus, you'll save money on interest.
- Funds available quickly. Axos promises to get you your money within two days of when you accept the loan offer. Other lenders may be able to deliver your personal loan funds the same day you apply, but Axos' speed is still competitive with other major lenders.
Axos Bank Personal Loan Cons
- High minimum loan amount. You need to borrow at least $7,000 from Axos. If you need just a little money to tide you over, other lenders will let you take out small personal loans.
- High minimum credit requirements. You need a credit score of at least 720 to qualify for an Axos personal loan, which may be inaccessible for some potential borrowers. If you have poor credit, you may want to find a lender with more lax standards.
- Origination and late fees. You may pay an origination fee — a percentage of your loan amount deducted from your overall loan proceeds — of up to 2% of your total loan amount. While this is lower than many other lenders' origination fees, some lenders charge none at all. You'll also pay a $15 late fee.
- No co-signed loans available. You can't apply with a cosigner, so if you have poor credit, you can't add one to qualify for a loan or land a lower rate.
How to Apply for an Axos Personal Loan
1. Look at your rate. Axos allows borrowers to prequalify for its loans by applying through its website. That means you'll be able to get your rate without impacting your credit score. You'll need to input your name, email address, phone number, desired loan amount, term length, purpose, and other information.
2. Review your loan offerings and pick one you can afford. After you submit your initial information, Axos will send you potential loan terms. A shorter term length means bigger monthly payments — but you'll save more in interest. You'll need to send in a formal application, which may also require additional documents, like W-2s, pay stubs, or bank statements.
3. Lock in your loan terms and make a repayment plan. After you sign the document accepting your loan terms, your loan will be approved and funded. Make sure you've added your loan payments into your budget.
Axos Bank Personal Loan Apply now lock icon An icon in the shape of lock. Compare loan options and get your rates today. Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Regular APR11.79% to 20.84%
Loan Amount Range$7,000 to $50,000
Minimum Credit Score720
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Solid maximum loan amount
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Good APR range
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Prequalification available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No prepayment penalty
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Funds available quickly
- con icon Two crossed lines that form an 'X'. High minimum loan amount
- con icon Two crossed lines that form an 'X'. High minimum credit requirements
- con icon Two crossed lines that form an 'X'. Origination and late fees
- con icon Two crossed lines that form an 'X'. No co-signed loans available
Axos Bank Personal Loan Frequently Asked Questions
Does Axos Bank check credit scores for personal loans? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Axos Bank conducts a soft credit inquiry when you apply for a loan to display your personalized rates. This won't affect your credit score. If you move forward with the loan process, the lender will perform a hard inquiry to get a full view of your credit history, which may temporarily reduce your credit score.
Is Axos a legitimate personal loan lender? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Axos Bank is backed by the Federal Deposit Insurance Corporation (FDIC), meaning your money is secured by the federal government. This is more applicable to checking and savings accounts, but rest assured that if you borrow from Axos, you're using a legitimate bank.
Is it easy to get approved for personal loans with Axos Bank? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Compared to other lenders, it's actually a little harder to get approved with Axos. The bank has a high minimum credit score of 720 for its personal loans, which may make it inaccessible for some borrowers. Other lenders have much lower credit requirements, and some have none whatsoever.
What credit score is needed for an Axos Bank personal loan? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.You'll need a credit score of at least 720 to get a personal loan from Axos Bank.
How long does it take to get an Axos Bank personal loan? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Axos says it will get you your money within two days of when you accept a loan offer.
Compare Axos Personal Loans
Axos Personal Loans vs. SoFi Personal Loan
Axos is the only one of the two lenders to charge origination fees or late payment penalties. SoFi doesn't have any fees accompanying their loans.
The least you can take out with Axos is $7,000, while you can borrow as little as $5,000 from SoFi . Axos' top amount is $50,000 and SoFi tops the pair with a $100,000 loan limit. SoFi has a distinguishing feature that you won't find with other lenders, including Axos.
Axos Personal Loans vs. LightStream Personal Loans
Like we said above, Axos charges charge origination fees and late payment penalties on its loans. LightStream doesn't charge any fees on its loans, so it may be a better choice.
You'll need a good credit score to qualify for a loan with both lenders.
LightStream Personal Loans Review
Quick tip: Make sure you're getting the best rate by checking for prequalified personal loan offers from multiple lenders through a loan marketplace.
Axos Bank Trustworthiness
Axos is a Better Business Bureau-accredited company with an A+ rating. The BBB, a nonprofit organization focused on consumer protection and trust, determines its ratings by evaluating a company's responses to customer complaints, transparency around business practices, and truthfulness in advertising.
The company has also not been involved in any recent controversies or scandals. You might feel comfortable borrowing from Axos due to its high BBB score and clean history.
Axos Bank Personal Loan Apply now lock icon An icon in the shape of lock. Compare loan options and get your rates today. Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Regular APR11.79% to 20.84%
Loan Amount Range$7,000 to $50,000
Minimum Credit Score720
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Solid maximum loan amount
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Good APR range
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Prequalification available
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No prepayment penalty
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Funds available quickly
- con icon Two crossed lines that form an 'X'. High minimum loan amount
- con icon Two crossed lines that form an 'X'. High minimum credit requirements
- con icon Two crossed lines that form an 'X'. Origination and late fees
- con icon Two crossed lines that form an 'X'. No co-signed loans available
Why You Should Trust Us: How We Rated Axos Bank Personal Loans
We rate all personal loan products in our reviews and guides on a 1-5 scale. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Funding speed (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category's weighting is based on its importance to your borrowing experience. Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan's terms, so they have less of an impact on the overall rating.
See our ratings methodology for personal loans »
Ryan Wangman, CEPF Loans Reporter Ryan Wangman was a reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans. He is also a Certified Educator in Personal Finance (CEPF).In his past experience writing about personal finance, he has written about credit scores, financial literacy, and homeownership. He graduated from Northwestern University and has previously written for The Boston Globe. Read more Read less Top Offers From Our Partners 
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