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The Ultimate Review of Old National Bank's Loan Offerings

Old National Bank, a financial stalwart with years of trust, offers a range of loan solutions tailored for diverse needs. From personal to business requirements, its lending spectrum is vast. Whether you're considering a major purchase, consolidating debt, or supporting a business dream, understanding the nuances of Old National's offerings is crucial. Read on as we break down their rates, benefits, and what sets them apart in the crowded financial market.
Offers: 2
Best Personal Loan Today 26.02.2024*
Personal Loans
Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
2000.00 – 100000.00 $

Effective interest rate on the product

6.34 – 35.89 %

Loan term for the financial product

2 months – 72 months
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Submit One Loan Application Online!

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Old National
Personal Loans
Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™

Effective interest rate on the product

up to 9.789%

Loan term for the financial product

up to 72 months
Old National Bank Loan Calculator

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The Legal Status of Personal Loans in the USA

In the USA, personal loans are legal and typically used for non-business needs. They must be repaid according to the loan agreement, which includes interest and a repayment timeline. Various laws regulate these loans, including the Equal Credit Opportunity Act, the Fair Debt Collection Practices Act, and the Truth in Lending. These laws protect both the lender's interests and the borrower's rights, ensuring fairness and transparency in the lending process.

The application process was a breeze, and I received a response within minutes. This straightforward and prompt procedure proved to be a great help to me during a crucial time of need.
JG Wentworth
The assistance I received was exceptional. My representative handled my case with care and provided all the necessary information...
OneMain Financial
The loan application process was straightforward, and the representative I interacted with displayed patience, provided informative answers, and was quite pleasant throughout...
My Funding Choices
The process was swift and straightforward, which was particularly helpful during a time when, despite my reluctance to seek assistance, I genuinely needed help.
Plain Green Loans
The interest rate is shockingly high, and it feels like taking advantage of individuals facing financial challenges when unexpected expenses arise...
Advance America
I have never encountered any issues with this company. They consistently deliver funds on time, and the repayment process is straightforward...

Established in 1834, Old National Bank has evolved into a prominent regional institution, boasting substantial assets of approximately $48 billion. As the sixth largest commercial bank headquartered in the Midwest and ranking among the top 35 U.S. banks, Old National Bank has demonstrated resilience through challenging times such as the Panic of 1837 and the 1929 Wall Street Crash. Despite these hurdles, the bank has remained steadfast and continues to thrive. Catering to private individuals and businesses, Old National Bank delivers a wide range of financial services, ensuring its commitment to meeting the diverse needs of its valued customers.


  1. Versatility. Old National Bank personal loans can be used for various purposes, including debt consolidation, home improvements, or covering unexpected expenses.

  2. Fixed APR Option. Borrowers can lock in a fixed Annual Percentage Rate (APR), providing predictability and stability in monthly payments.

  3. No Commitment Application. The loan application process does not require a commitment from the customer, allowing for exploration and consideration without obligation.

  4. Flexible Loan Amount. The loan amount can be customized to suit individual financial needs and preferences.

  5. Repayment Term Choices. Borrowers can select from a range of repayment terms, accommodating different budgets and financial goals.

Old National Bank Loan Options

At Old National Bank, personal loans serve as a lifeline to bridge financial gaps, cover urgent expenses, and more. Borrowers can access loan amounts ranging from $2,500 to a substantial $25,000, catering to a diverse range of financial needs. With a fixed APR, borrowers enjoy stability in their monthly payments, providing peace of mind and predictability. The bank offers flexible repayment terms, extending from 36 months to a generous 72 months, allowing borrowers to find a repayment plan that best fits their budget and financial goals.

Pros and Cons


Competitive Interest Rates. Old National Bank offers competitive interest rates on its personal loans, from 8.455% to 9.789%, making them attractive for borrowers seeking cost-effective financing solutions.

Quick Fund Disbursement. Upon loan approval, Old National Bank promptly disburses the funds, providing borrowers with swift access to the money they need to address urgent financial needs or seize time-sensitive opportunities.

Transparent Fee Structure. Old National Bank ensures transparency in its fee structure, providing borrowers with a clear understanding of any associated fees and avoiding unexpected charges throughout the loan term.

Credit Score Consideration. The bank considers various factors beyond credit scores when evaluating loan applications, making it possible for individuals with diverse financial backgrounds to qualify for a personal loan.

Debt Consolidation Benefits. Old National Bank's loans can be utilized for debt consolidation, allowing borrowers to combine multiple debts into a single loan with a fixed payment schedule, simplifying their financial management.

Convenient Branch Network. With a widespread branch network, Old National Bank provides in-person support and assistance, offering personalized guidance and facilitating a smoother loan application process for customers who prefer face-to-face interactions.


Limited Online Application Process. Old National Bank's personal loan application process primarily relies on in-person interactions at their branch network. This may inconvenience borrowers who prefer the convenience of a fully online application.

Strict Eligibility Criteria. The bank may have relatively stringent eligibility requirements for personal loan approval, making it challenging for some individuals with lower credit scores or specific financial circumstances to qualify.

Limited Availability. Old National Bank operates in select regions, which means that personal loans may not be accessible to individuals residing outside their service areas.

Limited Loan Amounts. While Old National Bank offers a wide range of loan amounts, the maximum loan size may not meet the funding requirements of borrowers with substantial financial needs.

Limited Loan Term Flexibility. Although the bank provides multiple repayment term options, some borrowers may desire more customized loan term choices to better align with their specific financial situations.

Potentially Higher APR for Unsecured Loans. Borrowers opting for unsecured personal loans may face higher interest rates compared to those choosing secured loans, potentially impacting the overall cost of borrowing.

Limited Specialized Loan Products. Old National Bank may not offer specialized personal loan products tailored to unique borrower needs, limiting options for those seeking highly specialized financial solutions.

How to Apply for an Old National Bank Loan?

Apply For a Loan

To apply for an Old National Bank personal loan, prospective borrowers can follow a straightforward and accessible process. They can begin by visiting their nearest Old National Bank branch or exploring the bank's website to initiate the application.

The bank provides an online application platform, allowing applicants to complete the necessary details and submit required documentation electronically. During the application process, borrowers typically must provide personal information, proof of income, and other relevant documents to support their loan request.

Once the application is submitted, Old National Bank's loan specialists will review the information and contact the applicant with further instructions or loan offers. By offering in-person and online application options, the bank aims to accommodate diverse preferences and ensure a seamless experience for potential borrowers.


  • Age. Applicants must be at least 18 years old to be considered eligible for a personal loan from Old National Bank.

  • U.S. Citizenship or Legal Residency. Borrowers must be U.S. citizens or legal residents with valid identification.

  • Proof of Income. Applicants are required to demonstrate a stable and verifiable source of income to show their ability to repay the loan.

  • Creditworthiness. Old National Bank will assess the applicant's credit history and credit score to determine their creditworthiness and repayment capability.

  • Debt-to-Income Ratio. The bank may consider the applicant's debt-to-income ratio to assess their overall financial stability.

  • Employment Status. Applicants typically need to provide proof of current employment or a reliable source of income.

  • Residential Address. Borrowers should have a valid residential address within the geographic service area of Old National Bank.

  • Documentation. Applicants must be prepared to submit the necessary documentation, including identification, proof of income, and any other documents the bank requires.

Ways to Receive the Money

Ways to receive personal loan money typically involve a convenient and efficient process. Upon loan approval and completion of the necessary documentation, the funds are usually transferred to the borrower's designated account as a direct deposit. This streamlined method ensures quick access to the loan amount.

How to Pay Off an Old National Bank Personal Loan?

  • Online Payments. Borrowers can conveniently pay through Old National Bank's secure online banking platform. This option allows them to schedule recurring payments or make one-time payments, providing flexibility and ease of use.

  • Automatic Payments. Setting up automatic payments is a convenient way to ensure timely loan repayment. Borrowers can link their bank account to the loan and have the loan payments automatically deducted each month, reducing the risk of missing a payment.

  • In-Person Payments. For those who prefer in-person transactions, borrowers can visit any Old National Bank branch and make loan payments directly with a bank representative.

  • Mail Payments. Borrowers can also choose to mail their loan payments to Old National Bank's designated payment address. However, allowing sufficient time for mail delivery is essential to avoid any potential delays.

  • Mobile App Payments. Old National Bank's mobile app enables borrowers to make loan payments using their smartphones or tablets, offering a convenient way to manage their finances on the go.

Things to Consider

  • Loan Purpose. Clearly define the purpose of the loan, whether it's for debt consolidation, home improvements, or covering unexpected expenses, to ensure the loan aligns with your financial goals.

  • Loan Amount. Assess your financial needs and borrow only the amount required to avoid overborrowing, keeping in mind that the loan amount offered by Old National Bank ranges from $2,500 to $25,000.

  • Repayment Terms. Review the available loan terms, ranging from 36 to 72 months, and choose a duration that fits your budget and repayment capacity.

  • Interest Rates. Consider the fixed interest rate Old National Bank offers for the loan, which may vary depending on the loan amount and repayment term.

  • Fees and Charges. Understand any associated fees, such as origination fees or late payment charges, to have a clear picture of the total cost of the loan.

  • Credit Score. Know your credit score and how it may impact the loan approval process and the interest rate offered by the bank.

  • Eligibility Criteria. Ensure you meet the eligibility requirements for an Old National Bank personal loan, including age, citizenship status, proof of income, and creditworthiness.


Other Banks

Apply For a Loan

Other banks offering personal loans: Wells Fargo, Truist and First Citizens Bank.Wells Fargo

Credit unions

Apply For a Loan

Credit unions offer personal loans under favorable terms. For example, Golden 1 Credit Union, Mountain America Credit Union and Tinker Federal Credit Union.Golden 1 Credit Union

Credit Cards

Apply For a Loan

Credit cards are not the cheapest credit instrument, but they provide fast solutions in an emergency within your credit limit. Many lenders offer this loan product, so you can shop around and find the best option from a reputable lender like Chase, Citi or Capital One.Chase

Home Equity Line of Credit (HELOC)

Apply For a Loan

HELOC allows you to use the same and get the needed amount to your account: PNC Bank, TD Bank and U.S. Bank.PNC Bank

Peer-to-Peer Lending

Apply For a Loan

Peer-to-peer financing is a flexible instrument that connects private lenders and borrowers: LendingClub, Prosper and Upstart.LendingClub

Balance Transfer Cards

Apply For a Loan

Balance transfer cards allow one to consolidate debt and avoid overpayment because usually, they offer lower interest rates and help to love the credit burden on a household budget; take a look at the loan offers by Barclays, Discover and Bank of America.Barclays

Editorial Opinion

Personal loans from Old National Bank are a reliable financial resource that caters to diverse borrowing needs, allowing borrowers to achieve their financial goals efficiently. With a wide range of loan amounts and flexible repayment terms, these personal loans empower individuals to address various expenses, from consolidating debt to funding home improvements. The transparency in fee structures and fixed interest rates ensure borrowers can plan their finances effectively, providing peace of mind throughout the loan term. Old National Bank's commitment to considering various factors beyond just credit scores enables individuals with different financial backgrounds to qualify for these loans, making them accessible to a broader range of customers. Furthermore, the convenience of applying online allows potential borrowers to explore loan options without the need to visit a lender branch, saving time and effort. The bank's dedication to prompt loan approval and quick fund disbursement further enhances the overall borrowing experience, enabling customers to access the needed cash swiftly. With competitive rates and a focus on customer satisfaction, Old National Bank is a trusted financial partner, offering personal loans that serve as a valuable tool in achieving financial stability and meeting individual aspirations.


Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.


At Finanso, we've carried out a comprehensive analysis of over 100 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional resources

To learn more about personal loans and best practices, check out some of the following resources:



What credit score do you need for an Old National Bank personal loan?

The credit score requirement for an Old National Bank personal loan may vary based on the specific loan product and individual circumstances. However, to be eligible for a personal loan from Old National Bank, applicants typically need a credit score in the range of 680 or higher. A credit score in this range demonstrates good to excellent creditworthiness and financial responsibility, increasing the likelihood of loan approval and securing more favorable loan terms. It is important to note that meeting the credit score requirement is just one aspect of the loan application process. In evaluating loan applications, Old National Bank considers other factors, such as income, employment history, and debt-to-income ratio.

How fast does Old National Bank approve loans?

Old National Bank strives to provide its customers a timely and efficient loan approval process. While the exact timeframe for loan approval may vary depending on factors such as the complexity of the loan application and the specific loan product, the bank typically aims to provide a decision within a few business days. Leveraging its streamlined application process and experienced loan officers, Old National Bank prioritizes quick turnaround times to ensure borrowers receive prompt responses to their loan applications. Additionally, the bank's commitment to excellent customer service ensures that applicants are kept informed throughout the approval process, facilitating a smooth and expedited experience for borrowers seeking financial assistance.

Does Old National Bank verify income?

Yes, as part of its standard lending practices, Old National Bank typically verifies the income of loan applicants. Income verification is a crucial step in the loan evaluation process as it allows the bank to assess the borrower's ability to repay the loan responsibly. During the application process, Old National Bank may request documentation such as pay stubs, tax returns, or bank statements to confirm the applicant's income and ensure accuracy. By conducting income verification, the bank provides that borrowers are offered loan options that align with their financial capabilities, promoting responsible lending and successful loan repayment.