-
Financial Rates:
2.5
-
Customer Service:
5.0
-
Website Experience:
3.0
-
Bank Fees:
5.0
Pros:
- Variety of accounts available
- Competitive interest rates on accounts
- Most accounts do not have monthly fees
- Low opening required amounts
Cons:
- Earning interest has set requirements
- Tiered interest rates on accounts
- Not all rate information listed
- Interest rates may change without notice
-
Financial Rates:
3.0
-
Customer Service:
4.5
-
Website Experience:
4.0
-
Bank Fees:
4.0
Pros:
- Variety of accounts offered
- High interest rate for CIBC Agility
- Low required opening amounts
- Interest Rate Bonus on accounts
Cons:
- Only one checking account earns interest
- Account interest rates not listed
- Cannot open all accounts online
- Accounts have monthly fees
Axos Bank offers a good variety of bank accounts. They offer cash-back and interest-earning checking accounts. They offer a checking account for those over 55 and for teens. Axos offers money market and savings account, along with CDs. Their CD terms range from three to 60 months. Axos offers checking, savings, and money market accounts for businesses. They also offer lending options for personal accounts and business accounts.
The Axos Bank accounts offer competitive interest rates. The rates are slightly lower than other online accounts but still competitive. Axos Bank interest rates are much higher than typical bank rates. There is not a set account balance required to earn interest.
The Axos Bank accounts do not have monthly fees. The accounts do not have set balances that you must keep in your account to avoid fees. These accounts are free. The only accounts with a fee are the Second Chance and World checking accounts. That fee is $6.95 a month with a direct deposit for the Second Chance account. The World checking account fee is $30 if your balance falls below $150,000.
The minimum opening required amount for Axos accounts are low. Most of the Axos checking accounts require $50 to open. The World checking account requires $75,000 to open. The savings accounts require $50 to open. The High Yield savings and IRA savings accounts requires $250. The High Yield money market account and CDs both require $1,000 to open.
The Axos Rewards checking account has requirements to earn competitive interest rates. The more requirements you meet, the more interest you earn. To earn the most competitive rate, you must have a direct deposit into your account and make 15 debit card transactions each month.
Most Axos accounts have tiered interest rates. To earn the most competitive interest rates requires a high account balance. The highest tier requires more than $100,000 in the account. Some checking accounts will not earn interest if the balance is over $150,000.
Not all the rate information for Axos accounts is on the website. The disclosures say accounts have tiered interest rates. The Axos website does not list the rates for the different tiers. To find the specific rates for the tiers call customer service.
Interest rates for Axos accounts may change without notice. This applies to their checking, savings, and money market accounts. The rates are subject to change without giving the customer notice. The interest rates on CDs are also subject to change at the bank's discretion.
CIBC offers a variety of accounts. These accounts include:
- iCan checking
- myChoice checking
- myChoice Prestige checking
- CIBC savings
- Agility savings
- CIBC money market
- CD terms
- Agility CDs 9, 12, 18, and 24-month terms
- Personal lending and retirement options
- Commercial and small business accounts and lending options
The CIBC Agility savings account offers competitive interest rates. This savings account requires $1,000 to open and does not have a monthly fee. The CIBC Agility savings account is an online-only account. The interest rates are competitive with other online-only savings accounts. They are much higher than typical brick-and-mortar banks.
CIBC accounts have low opening required amounts. The MMA and personal savings account require $50 to open the account. You must open these accounts at a branch location. The online savings account requires $1,000 to open. Regular CDs require $1,000 to open.
The myChoice checking account offers an interest rate bonus. This allows you to earn higher interest rates on your checking account balance. To earn the higher rates, you must meet a set amount. The amounts can come from a total of qualifying CIBC accounts. Those include myChoice checking account, money market and savings accounts. CDs and principal balances on personal loans count toward the balance total also. The more money you have in the accounts, the higher the bonus rate you receive.
Only one CIBC checking account earns interest. The CIBC myChoice Checking account is the interest-earning account. You must open this account at a branch location. If you have less than $5,000 in the account, there is a monthly fee.
Interest rates for CIBC accounts are not listed online. Only one CIBC savings account lists the interest rate for the account. The CIBC Agility offers competitive interest rates. The other CIBC accounts do not list the interest rates earned for their accounts. To open those accounts, you must visit a branch location.
Not all CIBC accounts can be opened online. To open a checking or savings account, or CDs, you must visit a branch location. CIBC has 46 branch locations in 19 states. The only accounts you can open online are the CIBC Agility savings account and Agility CDs. Those terms include 9, 12, 18, and 24-month terms
Most CIBC accounts have a monthly fee. To waive the fee, you must keep a set amount in the account. To avoid the checking account fees, you must have over $1,000 in the iCan account and $5,000 in the myChoice account. The savings account requires $250 to waive the fee, and the MMA requires $2,500.
Sponsored Offers
| Savings (Rate as of 4/26/2024) | |
| APY | 4.25% |
|---|---|
| Rate | 4.16% |
| For APY | $1 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
For details on our best products and how we chose them click here.
Rates proudly provided by 
For Bankrate's privacy policy, click here.
1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.