Old National Bank Personal Loans Review: Rates and Fees

Old National Bank personal loans are unsecured loans from $2,500 to $25,000, with fixed APRs up to 25% and terms of about one to six years. They're available only to residents of a group of Midwestern states. Old National charges a $150 documentation fee on every loan, and a bank representative told us it generally looks for a credit score of about 700 or higher.

Key Features at a Glance

What Is Old National Bank?

Old National Bank traces its roots to 1834 and is headquartered in Evansville, Indiana. It offers checking and savings accounts, credit cards and personal loans to customers across its Midwestern footprint. After it closed its merger with Bremer Financial on May 1, 2025, Old National had about $70 billion in assets, according to its U.S. Securities and Exchange Commission (SEC) filings.

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If you're new to bank lending, this guide to how bank loans work explains the basics before you compare lenders.

What Are the Pros and Cons of Old National Bank?

Interest Rates

Old National's fixed APRs range from 8.99% to 25%. Rates depend on the loan term, the loan purpose and your creditworthiness, and they can change over time. The bank doesn't clearly publish a starting APR for every loan type, so request a quote before you assume the lowest rate applies to you.

For context, the Federal Reserve reported an average APR of 11.9% on 24-month personal loans at commercial banks in August 2026. Pull the latest Fed figure before you compare, since it updates regularly.

Consider how the rate affects a $15,000, five-year home improvement loan:

If you qualify for the lowest APR on each, the 8% lender saves about $7 a month and $429 in total interest. If you qualify only for the highest APRs, Old National's 25% cap saves $102 a month and $6,104 in total interest versus a 36% lender.

Loan Amounts

Old National offers unsecured personal loans from $2,500 to $25,000, a narrower range than some competitors. PenFed, for example, advertises a wider range of loan amounts.

Repayment Terms

Old National's loan terms depend on how you plan to use the money. Home improvement loans may run longer than debt consolidation loans, and all-purpose loans tend to have the shortest maximum term. Longer terms lower your monthly payment but raise the total interest you pay, and shorter terms do the reverse.

Funding Speed

Old National says it can sometimes fund a personal loan quickly after approval, and most disbursements take a few business days.

Other Notable Features

You can request rate estimates through Old National's online form or by phone. The form notes that these are estimates based on preliminary information. A firm rate requires a formal application and a credit check. Check the bank's current app-store and review-site ratings, which change over time, and note that Old National is accredited by the Better Business Bureau.

Costs and Fees

Old National charges a $150 documentation fee on every personal loan, which effectively acts as an origination fee. On a $2,500 loan, the fee equals about 6% of the amount borrowed, which is relatively expensive for a small loan. On larger loans, the same flat fee becomes more competitive. A 5% origination fee on a $20,000 loan would cost $1,000, more than six times the $150 Old National charges.

Origination fees vary widely by lender. Some charge a percentage of the loan amount, while others charge none, so compare the total cost rather than the rate alone.

Eligibility Criteria

To apply, you must live in one of Old National's service states. The bank doesn't publish detailed requirements on its website. A bank representative told us it considers your credit history, overall financial profile and debt-to-income (DTI) ratio. The representative also said the bank generally looks for a credit score of about 700 or higher, which makes it a selective lender.

Your payment history is the single biggest factor in a FICO Score, at 35%, so on-time payments do the most to strengthen your profile before you apply. For a broader look at what lenders check, read our personal loan requirements breakdown.

MoneyLion offers a service to help you find personal loan offers. Based on the information you provide, you can get matched with offers for up to $100,000 from our top providers. You can compare rates, terms and fees from different lenders and choose the best offer for you.

How To Apply

To get a loan from Old National, follow these steps. For a more general walkthrough, check out our full breakdown of how to get a personal loan.

1. Request rates: Use the online form or call the bank. These quotes aren't binding, but they show what Old National might offer.

2. Apply: If the preliminary rate works for you, apply online or by phone. A formal application typically triggers a hard inquiry.

3. Verify your information: Provide any documents or identification the bank requests.

4. Sign and receive funds: Sign the loan documents and provide a bank account and routing number for disbursement.

A hard inquiry can lower your score by a few points. A hard inquiry stays on your credit report for up to two years, though most scoring models stop factoring it in after about 12 months.

Comparable Options

Old National isn't the only option, even in its region. Here's how it compares with two nationwide lenders. Confirm each lender's current figures on its own site before you apply.

PenFed is a credit union, so it lends personal loans only to members. Membership is open to almost anyone who opens a savings account, and you can join online. Like Old National, PenFed generally serves borrowers with good credit.

Discover® has slightly less strict underwriting than Old National. It offers longer terms and charges no origination or late fees.

For more lenders to compare, see these best banks for personal loans. If you're weighing regional banks, read our M&T Bank personal loans review.

If you'd rather compare several offers at once, MoneyLion can help you find personal loan offers for up to $100,000 from its network of lenders, based on the information you share.

Who It's Best For

Old National personal loans suit borrowers in its service area who want a competitive maximum APR, branch access and personal support. They're also a good fit if you already bank with Old National and want to manage your accounts in one place.

They may be less suitable if you live outside its service area, need a loan below $2,500 or above $25,000, or have less-than-strong credit.

Bottom Line

Old National Bank personal loans can be a strong choice if you live in its service area and have solid credit. The $150 documentation fee matters more on small loans, and the bank's eligibility and terms vary across sources. Request rates from Old National and at least two other lenders before you apply, since shopping around is one of the most reliable ways to lower your APR.

Rates and terms are subject to change. Confirm the current details on Old National's site before you apply.

Key Terms

• Annual percentage rate (APR): The yearly cost of borrowing, including interest and certain fees. Old National's range runs up to a 25% maximum.

• Unsecured personal loan: A loan that requires no collateral. Approval and pricing depend on your creditworthiness.

• Documentation fee: A flat upfront charge that serves as Old National's origination fee. It's $150 for all personal loans.

• Debt consolidation: Combining multiple debts, often credit card balances, into one loan to simplify repayment and possibly reduce interest.

• Hard credit inquiry: A formal credit check triggered by a complete loan application. It can lower your score temporarily and stays on your report for up to two years.

• Debt-to-income (DTI) ratio: Your monthly debt payments divided by your gross monthly income.

• Joint applicant: A person who applies alongside the primary borrower and shares legal responsibility for repayment.

Sources

• Old National Bancorp: Old National Completes Closing of Bremer Bank Partnership

• Federal Reserve: Consumer Credit - G.19

• CFPB: What is a debt-to-income ratio?

• myFICO: What's in your credit score?

Parts of this article were created with AI assistance. MoneyLion editors reviewed, fact-checked and edited the final version and are responsible for its accuracy.