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Axos Bank Personal Loan Review for Home Improvement

Axos Bank Personal Loans

For 20 years and counting Axos Bank has been delivering five star service resulting in many personal loan reviews. If you are searching for a home improvement personal loan you should check out Axos Bank.

Axos Bank is completely online but still manages to deliver 24/7 customer support. Being a virtual lender allows Axos to have less expenses. Axos passes the savings along to its customers by offering lower fees. Axos offers a quick application process, no prepayment fees, and no collateral.

Compared to other banks and lenders Axos highlights much lower fees for their services. Home improvement projects can require sufficient funds that Axos can provide. Axos can provide personal loans up to $35,000 with repayment terms up to 60 months.

Keep reading to learn everything you need to know about Axos Bank, home improvement personal loans, and real customer opinions.

What is Axos Bank?

Axos Bank is an online lender that offers personal loans for home improvement and checking and savings accounts. Being an online lender with less overhead allows Axos to pass many savings along to its customers. Axos waives many charges and offers rewards checking and ATM reimbursements.
If you value face to face interaction you may want to look into using other banks or lenders. Axos has no physical branches.

However they do have a 24/7 phone line, online chat, or secure messaging system. You can also reach Axos via Twitter. Many of Axos reviews highlight their High Yield Savings account that has no monthly fees and no minimum balance. Customers love the return they are receiving from their High Yield Savings Account.

In addition, Axos charges less overdraft or insufficient funds fees. Axos reviews also highlight their competitive personal loan rates and flexible terms.

Is Axos Bank Legit?

Axos Bank is a reliable bank and financial source that has the reviews and time in business to prove it. In October 2018 Axos Bank rebranded. It was previously known as Bank of Internet USA (BofI). The company was originally founded in 1999 by Jerry Englert and Gary Lewis Evans. Jerry and Gary both have financial backgrounds and experience working with large financial companies. Axos Bank was way ahead of its time being one of the first digital banks. In 2005 Axos Bank went public. Throughout the years Axos bank has acquired or partnered with financial intuitions such as H&R Block and Nationwide.

What are the requirements for a personal loan with Axos Bank?

In order to qualify for a personal loan with Axos Bank you should have a credit score 680 or higher. Axos does not specify any minimum credit history or maximum debt-to-income ratio requirements. When determining who is approved, Axos looks at more factors than just credit score. Having reliable income and a long-term job can help you qualify. If you are approved for a personal loan Axos bank does not require collateral and typically releases funds within two days. If you need the money the same day, you should consider another lender.

Who are Axos Bank personal loans best for?

Axos Bank personal loans are best for borrowers with good to excellent credit. Whether you are looking for a home improvement loan or debt consolidation loan, you should consider Axos. If you have financial needs ? smaller than $5,000 or larger than $35,000 ? you should look into a different lender. When comparing personal loan offers you should include the cost of origination fees in order to make an educated decision.

How does the personal loan process work with Axos Bank?

You can apply for a personal loan with Axos Bank directly through their website or through Acorn Finance. The benefit to applying through Acorn Finance is that you will get to compare Axos offer with other personalized personal loan offers. No matter which way you apply, your credit should not be affected during the pre-qualifying process. Once your loan is approved and you accept the terms you should receive funds within two days. Axos offers personal loans between $5,000 to $35,000 with terms between 12 to 60 months. Borrowers are required to make a monthly payment. There is no penalty for early payoff. If you have a low credit score, high debt-to-income ratio, and lack of income or credit history, it may be difficult to qualify with Axos Bank.

Are there any fees or penalties with Axos Bank personal loans?

Axos Bank reviews highlight little to no fees and penalties. Axos personal loans do not have an early payoff fee meaning you can pay your loan off early and save tons in interest. Most of their personal loans do have an origination fee between 0-2.0%. Most personal loan lenders have origination fees and many are higher than Axos origination fee. If you are late on a payment you can expect just a $15 late payment fee. If you experience insufficient funds in your Axos account you can expect an insufficient funds fee of just $25. Compared to other banks and lenders, Axos offers much lower fees.

How to apply for a personal loan with Axos Bank?

The best way to apply for a personal loan with Axos Bank is through Acorn Finance. Acorn Finance offers a secure platform that you should take advantage of. Acorn Finance partners with multiple reliable lenders such as Axos Bank. If you have credit challenges we strongly encourage you to apply with Acorn Finance. Acorn Finance offers personal loan solutions for all credit types. You can submit one application through Acorn Finance that will not affect your credit score. Within seconds you can receive multiple personalized personal loan offers. This gives you the opportunity to compare rates, terms, and offers and select the one that is best for your needs. Personal loans can be used for just about anything including home improvement and debt consolidation.

Three steps to get started with Axos Bank?

#1. Visit Acorn Finance

#2. Complete & submit online application

#3. Receive pre-qualified personal loan offers within seconds

What are the pros & cons for personal loans with Axos Bank?

When choosing a lender you should evaluate the pros and cons. Let's take a look at the pros and cons of using a personal loan with Axos Bank.


No collateral required

Personal loans with Axos Bank are unsecured and do not require collateral making them a safer option than home equity loans for home improvement.

No prepayment penalty

Paying a personal loan off early can save you tons in interest. Using a lender that does not have a prepayment penalty is a big pro.

Easy pre-qualification (does not affect credit score)

Applying and qualifying for a personal loan with Axos Bank can be a quick and easy process. If you just want to see if you can pre-qualify by submitting the initial application, your credit score should not be affected.


Slower funding time

If you need funds right away, you may want to consider a lender that offers same-day funding. Even though Axos Bank can quickly approve a loan, it usually takes two days to receive funds.

Loan terms

Axos Bank does offer flexible loan terms. However, they may not be available for all requests.

IOrigination fee

Axos Bank has an origination fee between 0-2.0% for personal loans. Most personal loans have an origination fee, sometimes higher than 2.0%.

I have large overgrown trees on my property and am having them cut down and removed. On Acorn I received several offers and was able to choose the one that met my needs and expectation of costs.

Anne A.

Ohio | Landscaping

We are doing a kitchen, flooring, and painting in Eastvale, California. We just purchased the home and are completing all the updates before we move into it. Acorn was an excellent experience. Fast and I had a number of choices. I was able to get a better rate than my bank.

Ben B.


I had to replace my roof and the bank was not helpful, so I went to Acorn Finance. The experience there was quick and easy.

Beth L.

Georgia, Roofing & sliding

I have large overgrown trees on my property and am having them cut down and removed. On Acorn I received several offers and was able to choose the one that met my needs and expectation of costs.

Anne A.

Ohio | Landscaping

We are doing a kitchen, flooring, and painting in Eastvale, California. We just purchased the home and are completing all the updates before we move into it. Acorn was an excellent experience. Fast and I had a number of choices. I was able to get a better rate than my bank.

Ben B.


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