Personal Loans

Axos Personal Loan Review 2023

Learn about Axos personal loans and how they use more than your credit score for approval. Compare to other online lenders for the best rates.
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Written by:
Shannon Lee
Edited by:
Kristin Marino verified
Editor's Rating

Founded in 1999, Axos Bank was originally Bank of Internet USA, which rebranded to Axos in 2018.

That rebranding helped bring Axos more recognition in the banking world. As a result, it is now known for a wide variety of banking products and as a contender for providing excellent personal loan terms to those who qualify.

Loan amounts of up to $50,000 are available, and if you’re already an Axos customer, that makes the funds easier to obtain.

Here’s what you need to know about working with Axos personal loans.

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Axos At-a-Glance

Axos can be a solid option for a personal loan for some consumers. Here’s a brief rundown of what to expect:

  • Loan amounts range from $5,000 to $50,000
  • Prequalification is available, and the soft hit won’t hurt your credit score
  • Credit score of at least 700 needed to qualify for an Axos personal loan
  • No option for a co-signer on the account
  • Those with less-than-stellar credit should expect a high APR
  • Get funding on the same day you accept the loan terms
  • Customers of Axos might have an easier time obtaining the loan

Compare to Other Personal Loans

How do Axos personal loans stack up against some of today’s best personal loans


Those who have fair or even good credit might not be able to get an Axos personal loan, but that’s not the case with Avant. 

Avant is designed for those who need help with their credit and aims to help you get back on track.

The potential loan amounts are lower, between $2,000 and $35,000, so it works well for those who need to borrow a smaller amount than the minimum of Axos. However, it’s unavailable in some states and might have higher APRs.


If you’re looking for a higher loan amount, you could get up to $100,000 with SoFi.

This lender is much like Axos, requiring a high credit score and a strong credit history to qualify. Funding isn’t as quick as with Axos or many other lenders.

SoFi offers a wealth of resources to keep on track financially, including career coaching, unemployment protection, and events for borrowers. The high minimum of $5,000 is comparable to Axos, and SoFi offers a discount for automatic payments.


If you have a short credit history and you’re working to build it up, Upstart can help by offering a loan between $1,000 and $50,000 on a three- to five-year term.

That means you can borrow a little at a time and work on your credit score as you make on-time payments.

This lender looks at more than your score and income: the college you attended, the degrees you earned, and other points that help predict your financial future, not dwell on your past. You can get funding within one business day.

Who Is an Axos Personal Loan For?

Axos personal loans are great for those who need a higher loan amount, as the minimum offered is $5,000. It’s also suitable for those who want higher amounts, as the cap is $50,000.

If you have excellent credit, this is a good loan option, as the bank requires a credit score of at least 700 to qualify.

However, a credit score on the lower end of that scale means a higher APR, which might be higher than the competition’s. Look to Axos if you have a better-than-average credit score and need fast funding.

Top Features of the Axos Personal Loan

Understanding the features of an Axos personal loan will help you decide if it’s right for you. Here are what customers enjoy about the company:

Solid Loan Amounts

Axos offers loans between $5,000 and $50,000. That might be ideal for a home improvement project or paying down high-interest credit card debt.

Good Loan Terms

You can choose to pay back your loan in anywhere from three to six years. That flexibility allows for better planning of your financial future. If you pay the loan off early, there is no penalty.


Axos allows for a prequalification stage, which means a soft hit on your credit that doesn’t affect your credit score. If you like the terms offered during the prequalification, you can move forward with a complete application. At that point, there will be a hard inquiry on your credit, which might cause your credit score to dip briefly.

Moving the Payment Date

If you run into financial difficulty, you can extend your payment due date. Axos allows you to bump the due date 10 days past the assigned date they give you at the close of your loan. If your due date is the 15th of the month, you can choose any date up to the 25th as your new due date.

Quick Funding

Axos can go through the entire process with you in a matter of days, and for those who already have an account with the bank, you can get your funds on the same day you sign the loan.

How to Get Started

You must be at least 18 years old and a United States citizen or resident to apply for the loan. You will be asked for a valid social security number. You will need a credit score of at least 700, a good debt-to-income ratio, and at least four years of a well-established credit history to be considered for an Axos loan.

During prequalification, you’ll find out if you’ll be approved and the terms. If you continue at that point, you will be expected to provide identification, proof of income, and other documentation to allow Axos to verify your information.

Rating the Features

What is it like to work with Axos to get a personal loan? Here we break down the features and tell you what to expect from the most essential points. 

User Experience

The experience of getting the loan is very straightforward, with the only hitch being the high credit score requirement and the potential of up to 48 hours for approval (though many do get approved the same business day). Some users complain of being unable to make payments on time due to glitches in the system, but ample customer support options might make this a moot point.


When choosing a personal loan from Axos, expect an origination fee of 1-2% of your loan amount. If you make a late payment, you will face a $15 fee, and if you have an insufficient funds notice, you can expect a fee of $25 per instance.


With Axos, you might see competitive rates if you have a great credit score and income. However, as a general rule of thumb, the lower your credit score, the higher your APR. That means that if you don’t have a score of 800 or above, you might see rates that rival that of high-interest credit cards – and that might give you pause as you explore other options. 


Your options for a personal loan range from $5,000 to $50,000 in funding that you pay back with terms between three and six years. If you choose other banking products from Axos, you can find a full suite of options, including savings accounts. 

Customer Support

There are many ways to get in touch with the bank, including talking to a loan agent between the extended hours of 6:00 a.m. and 5:00 p.m. PST. You can also email the bank at any time. The website offers an option to find support through a virtual assistant at all hours and how-to videos and FAQs that might answer your questions.


Everything about an Axos personal loan is handled online, as there are no branches or headquarters where you can talk to someone face-to-face. However, there is good customer support via phone during extended banking hours. Access to your funds, minus the origination fee, can happen within a business day but might take up to a few days for approval and distribution to your chosen bank account.

Pros and Cons of Axos Personal Loans

Frequently Asked Questions

Does Axos send funds to my creditors if I want to consolidate my debt?

No. Axos will distribute the funds to the bank account of your choice, and from there, it’s your responsibility to pay your creditors if you’re using your personal loan for debt consolidation.

Are there restrictions on what I can use a personal loan for?

In most cases, you can’t use a personal loan to pay for higher education expenses, such as tuition, and of course, you can’t use the loan to do anything illegal. Some lenders allow you to use the funds for higher education as long as you do so within a given set of parameters. That’s something you would need to address directly with the lender.

What if I was denied an Axos personal loan?

A. You might be denied a few reasons, but the biggest ones include having a lower than 700 credit score, needing a more extended credit history, or having a high debt-to-income ratio. You can work on these issues by paying down your credit cards and paying all your bills on time. You can work to lower your debt and increase your income.

Bottom Line

Axos personal loans offer between $5,000 and $50,000 for those with great credit.

If you want a smaller loan amount or your credit could be better, this option might not be for you. But if you do go with Axos, expect quick funding, the opportunity to change your due date, and repayment terms of three to six years – in short, you get plenty of flexibility for your financial needs.