Bank products and services are offered by Axos Bank®. All depositaccounts through Axos Bank brands are FDIC insured through Axos Bank. Alldeposit accounts of the same ownership and/or vesting held at Axos Bank arecombined and insured under the sameFDIC Certificate 35546.All deposit accounts through Axos Bank brands are not separately insured bythe FDIC from other deposit accounts held with the same ownership and/orvesting at Axos Bank. For more information readAxos Bank’s FDIC Notice.
Advisory services are offered by Axos Invest, Inc., an investment adviserregistered with the Securities and Exchange Commission (“SEC”). Forinformation about our advisory services, please view ourForm CRSor our ADV Part 2A Brochure, free of charge. Brokerage services and securities products are offered byAxos Invest LLC, Member FINRA & SIPC. YOU MAY FIND MORE INFORMATION ABOUT OUR FIRM ON FINRA’S BROKERCHECK.View the background of this firm, or REVIEW our Form CRS. All cash and securities held in Axos Invest client accounts are protected by SIPC up to $500,000, with a limit of $250,000 for cash. Read more information about SIPC on the SIPC web page.
Securities and other non-deposit investment products and servicesare not deposits, obligations of or guaranteed by Axos Bank, are notinsured by the FDIC or any governmental agency, and are subject toinvestment risk including possible loss of the principal invested. Past performance of a security does not guarantee future results or success.
Axos Invest LLC, Axos Invest, Inc., and Axos Bank are separate but affiliated companies.
1 Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circ*mstances. All examples are hypothetical and are for illustrative purposes only. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
2 The Annual Percentage Yield (APY) is accurate as of . This is a tiered, variable rate account. The interest rate and corresponding APY for savings and money market accounts are variable and are set at our discretion. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.
3 The Annual Percentage Yield (APY) is accurate as of . Rewards Checking accounts are eligible to receive APY reward when criteria is met. The account must be in an open and active status on the last business day of the statement cycle to receive the reward. All daily collected balances up to and including $50,000 will earn interest based on the combined rate rewards. All daily collected balances greater than $50,000 will not earn interest. Qualifying transactions must post and clear the account by the 25th of the month to count towards the monthly qualification cycle. Account transactions may take one or more business days from the transaction date to post to the account. At the time of your statement cycle date, we will determine the combined products and services used since the previous cycle date to determine the aggregate interest rate to apply. We will use the daily balance method to calculate the interest. We may change these rewards at the Bank's discretion any time without notice. Fees may reduce earnings.
FAQs
High Yield Money Market
| Tier | APY* | Rate |
|---|
| $0-$9,999.99 | 0.25% | 0.25% |
| $10,000-$24,999.99 | 0.25% | 0.25% |
| $25,000-$49,999.99 | 0.25% | 0.25% |
| $50,000-$99,999.99 | 0.25% | 0.25% |
1 more rowFor example, $1,000 put into an account with an annual interest rate of 5% would, in theory, earn $50 at the end of the year. However, if the rate is 5% with interest earned monthly, the APY would actually be 5.116%, earning you $1051.16 by the end of the first year.
What is 3% APY on $10000? ›
Interest can compound annually, quarterly, monthly, or even daily—the more often interest compounds, the faster your balance grows. For example, say you deposited $10,000 in a high-yield savings account with a 3% APY that compounds annually. At the end of a year, you'd have $10,300.00 in your account.
How much is 5% interest on $10000? ›
You want to know your total interest payment for the entire loan. To start, you'd multiply your principal by your annual interest rate, or $10,000 × 0.05 = $500.
Who has a 5% APY? ›
Savings accounts with 5% APY or higher
| Bank | APY | Min. deposit to open |
|---|
| DollarSavingsDirect | 5.00% | $0 |
| CommunityWide Federal Credit Union | 5.00% | $1 |
| Laurel Road | 5.00% | $0 |
| Varo Bank | 3.00% to 5.00% | $0 |
12 more rowsApr 5, 2024
I have had an Axos Rewards Checking for almost a year, a High Yield Savings accounts for a little over a year now, and I recently opened an Invest account a few months ago. I couldn't be happier! Customer service has been great. I have not had a single problem with my accounts like I've had with other large banks.
Is APY paid monthly? ›
Is APY monthly or yearly? APY is the percentage rate of return on your money over one year, and it includes compound interest. The interest may be compounded daily, monthly, or yearly, depending on the deposit account.
How much is $5000 with 3% interest? ›
Compound Interest FAQ
| Year 1 | $5,000 x 3% = $150 |
|---|
| Year 2 | $5,000 x 3% = $150 |
| Year 3 | $5,000 x 3% = $150 |
| Total | $5,000 + $450 = $5,450 |
A 5.00% interest rate can significantly boost your savings. At this rate, your initial $100,000 would accrue $5,000 in interest each year. But monthly compound interest would boost that total even further. At the same 5.00% rate, monthly compound interest would result in a total of $5,116 at the end of the first year.
What is a good APY rate? ›
10 best savings accounts of April 2024
| Account type | APY | Learn more |
|---|
| UFB Direct | 5.45% | View offer |
| Varo | 5.00% | View offer |
| LendingClub | 5.00% | View offer |
| Credit Karma Money Save | 5.10% | View offer |
6 more rowsSo, if the interest rate is 6%, you would divide 72 by 6 to get 12. This means that the investment will take about 12 years to double with a 6% fixed annual interest rate.
How much interest will $250 000 earn in a year? ›
Many high-yield savings accounts from online banks offer rates from 2.05% to 2.53%. On a $250,000 portfolio, you'd receive an annual income of $5,125 to $6,325 from one of those accounts.
How much does a $100 000 CD make in a year? ›
1-year CD returns on $100,000
At 4.0%: $4,000, for in a total balance of $104,000 at the end of the term. At 4.5%: $4,500, for in a total balance of $104,500 at the end of the term. At 5.0%: $5,000, for in a total balance of $105,000 at the end of the term.
How much does a 1-year CD pay? ›
How to Find the Best 1-Year CD
| Institution | Rate (APY) | Term |
|---|
| TotalDirectBank | 5.35% | 12 months |
| CFG Bank | 5.31% | 12 months |
| Rising Bank | 5.31% | 12 months |
| First Internet Bank | 5.31% | 12 months |
12 more rows18, 2023, the average interest rate for a 1-year CD is 1.76%, more than double the 0.45% average rate reported for savings accounts. The best CD rates, as you'll see below, are considerably higher, with some APRs exceeding 5%. Here's a closer look at how CD accounts work and how much you can earn from a CD investment.
Who has the highest APY rate? ›
Best High-Yield Online Savings Accounts of April 2024
- EverBank Performance℠ Savings: 5.15% APY.
- Bask Interest Savings Account: 5.10% APY.
- LendingClub High-Yield Savings Account: 5.00% APY.
- Varo Savings Account: 3.00% to 5.00% APY.
- Laurel Road High Yield Savings®: 5.00% APY.
- Quontic Bank High Yield Savings: 4.50% APY.
Earn 0.20% APY*. Take your money further, faster and manage your business finances with confidence.
What is the best APY rate? ›
Best High-Yield Savings Account Rates
- Evergreen Bank Group – 5.25% APY.
- CFG Bank – 5.25% APY.
- Upgrade – 5.21% APY.
- EverBank (formerly TIAA Bank) – 5.15% APY.
- RBMAX – 5.15% APY.
- Bread Savings – 5.15% APY.
- Popular Direct – 5.15% APY.
- Western State Bank – 5.15% APY.
