Axos Bank does verify income for personal loan applicants to confirm that people can repay what they borrow, but it does not disclose a minimum income requirement. You also have to meet other Axos Bank requirements to be considered, such as be at least 18 years old and be a US citizen or permanent resident. You have a good chance of getting approved if you meet all of these requirements.
Axos Bank Personal Loan Requirements
Be at least 18 years old
Be a US citizen or permanent resident
Must have a Social Security number
Have a credit score of 700 or higher
Must pre-qualify first
If you want a better idea of what personal loans you may qualify for with your income, you can use WalletHub’s free pre-qualification tool.
To apply for an Axos Bank personal loan, first check for pre-qualification and then enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.
How to Apply for an Axos Bank Personal Loan
… read full answerCheck for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for an Axos Bank personal loan. It doesn't hurt your credit. You can check for pre-qualification on the Axos Bank website or WalletHub's pre-qualification tool.
Enter your personal information on the application. Axos Bank requires the following personal information on the application: your full name, date of birth, home addres, housing type, email address, phone number and Social Security number.
Enter your financial information on the application. Axos Bank requires the following financial information on the application: your current employer and income source, employment status, income type, time receiving income from this source, job title, gross monthly income and work phone number.
Double check the application for accuracy. To ensure that your Axos Bank personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
Submit your application. Axos Bank will typically provide a decision on your application within 2 business days both for approval and funding time.
If you are approved for an Axos Bank personal loan, you will generally receive the funds within 2 business days after approval. After that, it's your responsibility to make monthly payments until you have fully paid back your loan, including interest.
Yes, Axos Bank does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.
Axos Bank's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answercredit score simulator on WalletHub.
If you're looking for a lender that does not do a hard inquiry at all, you could consider OppLoans and Integra Credit.
Yes, Axos Bank personal loans are legit because Axos Bank is registered to do business in the states it services, which is a legal requirement to be a legitimate lender. Another reason why Axos Bank personal loans are legit is that the lender has a rating of A+ from the Better Business Bureau. The company also is accredited with the Bureau.… read full answer
Why Axos Bank Personal Loans Are Legit
Axos Bank is registered as a business in the states it services.
Axos Bank has a Better Business Bureau rating of A+.
Axos Bank has been around since 1999.
Axos Bank personal loans have a rating of 3.4/5 from WalletHub's editors.
Axos Bank has a secure website, which you can tell by the fact that the URL has "https" in front of it.
While Axos Bank personal loans are legit, they may or not be the best choice for you. It's important to compare the terms and requirements of Axos Bank personal loans against your other options before submitting an application.
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