Wednesday, July 24, 2024
Home Personal Finance $500 Bonus + up to 3.30% APY

$500 Bonus + up to 3.30% APY

by xyonent
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Axos Rewards Checking offers an amazing $500 bonus when you open a new account and complete qualifying activity.

Even better, you can earn up to 3.30% APY (Annual Percentage Yield) on your qualifying balance, which is higher than the national average for savings accounts. According to the FDIC.

In partnership with Axos Bank, let’s take a closer look at the details of this fantastic offer and how you can take advantage of it.

Find out more about the Axos Rewards Checking Bonus here >>

Get $500 Bonus on Axos Rewards Checking

From now through July 31, 2024, you can earn a $500 cash bonus when you open a new Axos Rewards checking account and complete qualifying activity.

To qualify, you must do the following for five statement cycles within the first six months after your account is open:

  • Receive a qualifying direct deposit of at least $1,500

  • Maintain an average daily balance of at least $3,000 in your rewards checking account.

Bonuses will be paid in increments of $100 per qualified statement cycle up to a total of $500 per month. Incentives will be deposited into eligible accounts within 15 business days following the end of a qualified statement cycle.

Get started by opening an Axos Rewards checking account here >>

How to earn up to 3.30% APY

The bonus is just the first incentive: With the Axos Rewards checking account, you can also earn up to 3.30% APY.

The APY is tiered. Here’s what you need to know:

  • Base line: You’ll earn 0.40% APR if you receive direct deposits of $1,500 or more per month, which is required to unlock the remaining tiers.
  • Debit Card Spending or Personal Finance Manager: Use your Axos Visa debit card for a total of 10 transactions each month (minimum $3 transaction) or sign up for online banking’s Personal Finance Manager and you’ll earn 0.30% APR.
  • Managed Portfolio: Maintaining an average daily balance of $2,500 in your Axos Invest Managed Portfolio account will earn you 1.00% annual interest.
  • Self-managed transactions: Maintaining an average daily balance of $2,500 in your Axos Invest self-directed trading account will earn you 1.00% annual interest.
  • Loan payments: Use your Rewards Checking Account to pay your Axos Bank consumer loans in full each month and earn 0.60% APR (applies to mortgages, auto loans and personal loans).

To learn more about Axos Rewards Checking, click here >>

What is Axos Bank?

Axos Bank was founded on July 4, 2000, as Bank of Internet USA, offering only basic checking services. The bank focused on a great online experience and 24/7 accessibility.

On October 1, 2018, the company changed its name to Axos Bank and began trading on the New York Stock Exchange under the ticker “AX.” Existing brands were absorbed into Axos Bank, including Bank of Internet USA, BofI Federal Bank (including BofI Advisor), Bank X, NetBank, Apartment Bank, Annuitants Federal Bank and Virtus Bank.

Axos Bank remains focused on a “100% digital” experience, as evidenced by the fact that they have no branches. No branches means they can provide higher rates of return to their customers through financial products. Axos Bank is also a full-service bank with personal and business financial products, from deposit accounts to loans.

Final Take

Axos Rewards Checking is a solid checking account option with some great bonuses to get you started, and if you’re still on the fence about whether to take the plunge, now’s the perfect time to open an account and start earning checking “rewards.”

Check out Axos Rewards Checking here >>

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