Old National Bank Personal Loans Review

With competitive rates, flexible terms, and a commitment to personalized service, Old National Bank is your trusted partner for life's financial milestones.

When you’re planning a major purchase, consolidating debt, or facing unexpected expenses, the Old National Bank Personal Loan provides a straightforward, unsecured solution with predictable monthly payments. With fixed interest rates, clear terms, and reliable service, it’s designed to help you move forward with confidence—without the need for collateral.

This guide highlights why this loan could suit your needs, key details to consider before applying, and the steps involved in securing funds. By understanding how Old National structures its personal loans, you’ll be well-equipped to make an informed borrowing decision.

Why Choose the Old National Loan?

• Borrow between $2,500 and $25,000, ideal for various needs like consolidation or home projects 
• Choose from fixed APRs up to 25% and set payment plans, ensuring clarity and simplicity 
• Select repayment terms from 12 to 72 months—longer terms available for home improvement loans 
• Enjoy no collateral or prepayment penalties—borrow and pay it off on your terms
• Get a 0.25% APR discount by enrolling in autopay through an Old National checking account 
• Available in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, and Wisconsin 
• Transparent $150 documentation fee and clear origination process—no hidden charges 
• Apply online, by phone, or in branch, with a simple process and no obligation

Why Consider a Personal Loan?

Here’s how this loan can serve everyday needs:

• Consolidate high-interest debts into a single, predictable payment
• Cover large expenses—like car repairs or home improvements—without draining savings
• Manage budgeting better with fixed monthly payments over a clear term
• Avoid credit card interest by using a structured repayment plan
• Build credit responsibly through on-time, consistent payments

What to Know Before Applying

Helpful facts to ensure this loan makes sense for you:

• Eligibility: Must live in one of eight Midwest states and meet income/credit requirements 
• Credit Score: While not stated, better credit likely improves rates and approval
• Loan Programs: Standard loans (12–48 months), with longer options for home improvement or consolidation 
• APR Cap: Fixed-rate loans capped at 25% APR 
• Fees: Single $150 documentation fee plus origination costs—no prepayment or late fees disclosed
• Funding Time: After signing, funds typically arrive within 1–2 business days 
• Co-applicants Allowed: You can apply jointly to improve your approval chances

How to Apply

Here’s what you can expect:

1. Pre-qualify online, by call, or in person—no obligation and no hard credit pull
2. Submit documentation (ID, income proof)—required for formal approval 
3. Sign loan agreement—including term, rate, and documentation fee
4. Receive funding, typically deposited within one to two business days
5. Set up autopay to secure the 0.25% APR discount
6. Manage payments online or via the Old National app, and repay confidently 

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