Old National Bank Personal Loan Review | LendingTree (2023)

Old National Bank loans are approved and funded quickly — sometimes as soon as the next business day. APRs run from 8.12% to 17.51%, which can be considered a reasonable range compared to some other lenders. However, you should be aware that these personal loans come with a $100 documentation fee. Read on to learn more about Old National Bank personal loans.

  • Old National Bank personal loan highlights
  • Old National Bank at a glance
  • Eligibility requirements
  • What borrowers are saying about Old National Bank
  • Applying for a personal loan from Old National Bank
  • Who’s the best fit for a Old National Bank personal loan?
  • Alternative personal loan options

Old National Bank personal loan highlights

  • Quick approval process: You could receive a decision on your personal loan on the same day you apply, with funds transferred to you as soon as the next business day.
  • Low fixed APRs: Rates range from 8.12% to 17.51%. When compared to other lenders, these are fairly reasonable interest rates.
  • High minimum borrowing limit. Loan amounts range from $5,000 to $25,000. This lender is primarily worth considering if you’re planning on borrowing a significant amount of money.
  • Documentation fee: All personal loans come with a $100 documentation fee.

Old National Bank at a glance

  • APR: 8.12% to 17.51%
  • Minimum credit score: Not specified
  • Terms: Not specified
  • Origination fee: Not specified

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TermsFees and penalties
  • Terms: Not specified
  • APR:8.12% to 17.51%
  • Loan amounts:$5,000 to $25,000
  • Time to funding: As soon as the same day
  • Credit check:Hard Pull
  • Origination fee:Not specified
  • Prepayment fee: Not specified
  • Late payment fee:5% or $10, whichever is greater
  • Other fees: $100 documentation fee

Eligibility requirements

  • Minimum credit score:Not specified
  • Minimum credit history: 5 years
  • Maximum debt-to-income ratio: Not specified.

In addition to at least five years’ worth of credit history, all applicants should have a good credit score and a credit history that does not have any bankruptcies, foreclosures, repossessions or other major credit issues. The application requires at least 12 months’ worth of employment history. You may be asked to provide proof of income or employment when applying.

To apply for a personal loan online, you must be 18 years old or older, be a U.S. citizen or permanent resident and provide current identification and your Social Security or tax ID number.

Old National Bank doesn’t offer personal loans in the following states: Alabama, Alaska, Arizona, Hawaii, Idaho, Louisiana, Maryland, Michigan, Mississippi, Montana, Nevada, New Jersey, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia and Wyoming.

What borrowers are saying about Old National Bank

Overall, consumers have great things to say about Old National Bank, formerly known as First Midwest Bank. In fact, Old National Bank was the No. 1 reviewed personal loan lender on LendingTree’s website in the first quarter of 2019. The average rating for Old National Bank across over 1,900 reviews on LendingTree is a 4.9 out of 5, with 99% of reviewers recommending the bank. The majority of reviews cite excellent customer service and responsiveness, as well as reasonable interest rates and fees.

Matthew from Urbandale, Ia., who secured a personal loan with Old National Bank in Aug. 2019, gave the company five out of five stars and had this to say: “The entire process was very straightforward and professional. Jasmine made the process very easy to understand and guided me through everything. Received a great rate and would do business with [Old National] in the future.”

Jake from Johnston, Iowa, who gave Old National Bank three out of five stars, said that although the process of securing a loan was simple, he’s hit some roadblocks since: “The process was easy. I would say that they just found the underwriter and processed the loan. Communication was easy through the process. Since the loan, however, the emails back and forth have been delayed.”

Applying for a personal loan from Old National Bank

Applying for a personal loan with Old National Bank is a fairly straightforward process. First, you’ll want to submit an online application with the bank. This application will include your personal data (i.e. name, address, Social Security number and driver’s license number), as well as your current outstanding loans, your housing situation and your employment history.

Next, you will wait for the bank to approve your loan. Someone might follow up with you to ask for additional information, such as proof of employment or a copy of your driver’s license. You could see approval as fast as the same business day, and you could have access to your funds as quickly as the next business day.

Although filling out an application online is likely the quickest and easiest route to a personal loan with Old National Bank, you can also visit one of the bank’s brick-and-mortar locations or call 1-800-322-3623 during regular business hours.

  • Low rates: With APRs that range from 8.12% to 17.51%, you may qualify for a reasonable personal loan rate.
  • Quick approval: You can have your application approved as quickly as the same day, and receive funds as quickly as the next business day.
  • High loan amounts: You can borrow up to $25,000.
  • Limited lending area: If you don’t live in one of the states the bank serves, you won’t be able to take out a personal loan with Old National Bank.
  • Fairly strict credit history requirements: In addition to having at least five years’ worth of credit history, you cannot get approved for a loan with a bankruptcy or any other major credit issues in your past.

Who’s the best fit for a Old National Bank personal loan?

First and foremost, borrowers must live in one of the states the bank serves to be a candidate for a Old National Bank personal loan. They’d need good credit or better and have a need for a large loan amount. With a minimum $5,000 borrowing limit, Old National Bank doesn’t make sense for those who need to borrow a small amount of money.

On the other hand, Old National Bank moves fast. Borrowers who need funds quickly will like this lender, as it can release loan funds as quick as one business day. And with low rates, Old National Bank could be a viable option for those looking to consolidate debt, assuming they qualify for the lowest rates.

Alternative personal loan options


  • APR: 6.99% to 22.49%
  • Minimum credit score: Not specified
  • Terms: 24 to 144 months
  • Origination fee: No origination fee

A division of SunTrust Bank, LightStream offers personal loans with a wide variety of repayment terms. If you’re borrowing a significant amount of money or envision you’ll need a significant amount of time to pay it back, you can rest assured knowing loan terms arefrom 24 to 144 months.

Loan amounts range from $5,000 to $100,000, meaning LightStream personal loans are also worth considering if you’re looking to borrowing more than Old National Bank’s $25,000 maximum. Loan funds can also be accessed quickly, with funding as fast as the same day you are approved. One additional benefit of securing a loan through LightStream is that it serves the entire U.S.

*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66. Truist Bank is an Equal Housing Lender. © 2022 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.


  • APR: 6.50% to 35.99%
  • Minimum credit score: 600
  • Terms: 36 or 60 months
  • Origination fee:Is 0.00% - 10.00%

Lending company Upstart offers personal loans that range from $1,000 to $50,000, with repayment terms of either 36 or 60 months. Because Old National Bank only offers loans at a minimum of $5,000, Upstart could be worth considering if you’re looking to borrow a smaller amount. Upstart also offers quick access to personal loan funds, with funds transferred as quick as the next business day, if approved.

There is a minimum credit score requirement of 600 in order to take out a loan with Upstart, so this lender isn’t worth considering if your score is below that threshold. Even if you have a credit score above 600, proceed with caution, as personal loan interest rates can be as high as 35.99%. You cannot take out a personal loan with Upstart in West Virginia or Iowa.

Happy Money

  • APR: 7.99% to 29.99%
  • Minimum credit score: 640
  • Terms: 24 and 60 months
  • Origination fee:Is 0.00% - 5.00%

Happy Money (formerly Payoff) is worth considering for those with good credit, as a high credit score could allow you to secure a low interest rate. Loans range from $5,000 to $40,000, meaning this lender has a higher upper limit than Old National Bank. Happy Money does a Soft Pull when you check your rate.

The age of your credit history only needs to be three years with Happy Money, compared to Old National Bank’s five years. Keep in mind that your debt-to-income ratio (your monthly debt payments compared to your monthly income) must be below 50%. Happy Money does not offer loans to those who live in Massachusetts, Mississippi, Nebraska, Nevada or West Virginia.

All loans are subject to credit review and approval. Your actual rate depends upon credit score, loan amount, loan term, credit usage and history. Currently loans are not offered in: MA, MS, NE, NV, OH, and WV.

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