Old National Personal Loans: Flexible Funds for Your Plans

Old National Bank Personal Loans provide unsecured financing for consumers who need funds for debt consolidation, home improvements, unexpected expenses, or major purchases. Following the merger between First Midwest Bank and Old National, borrowers looking for a current alternative to the former First Midwest personal loan can now consider Old National’s personal lending options.

With loan amounts ranging from $2,500 to $25,000, fixed annual percentage rates, and predictable monthly payments, Old National offers a relatively straightforward borrowing experience. No collateral is required, and borrowers can choose from several repayment periods based on the purpose of the loan and their financial situation.

How Do Old National Bank Personal Loans Work?

Old National Bank Personal Loans are unsecured installment loans, meaning borrowers do not have to pledge a home, vehicle, or another asset as collateral.

Applicants can currently request between $2,500 and $25,000. Once approved, the borrower receives a fixed APR and repays the loan through scheduled monthly payments over an agreed period. Because the rate is fixed, the interest rate does not fluctuate during the repayment term.

Repayment terms can range from 12 to 72 months, although the maximum term depends on how the money will be used.

Old National currently specifies maximum terms of:

• Up to 72 months for home improvement loans
• Up to 60 months for debt consolidation
• Up to 48 months for other personal loan purposes

This structure allows borrowers to select a repayment period that better matches the type of expense they are financing. A longer repayment period may reduce the required monthly payment, while a shorter term can reduce the total amount of interest paid over time.

All applications are subject to credit review and approval. Old National states that applicants must satisfy minimum credit score requirements and other conditions, although the bank does not publicly disclose a specific minimum credit score for this product.

More Advantages of Old National Personal Loans

One of the strongest features of an Old National Personal Loan is its flexibility.

The money can be used for several common financial needs, including:

• Consolidating existing debt
• Making home improvements
• Covering unexpected expenses
• Financing major purchases

For debt consolidation, using a fixed-rate personal loan may help borrowers combine multiple debts into a single predictable monthly payment. Whether this actually saves money depends on the interest rate obtained and the rates currently being paid on existing debts.

Another advantage is that no collateral is required. Borrowers do not need to use their home or another valuable asset to secure the loan.

The fixed APR also provides predictability. Once the loan is originated, borrowers know their scheduled monthly payment from the beginning instead of dealing with an interest rate that changes over time.

Old National also offers several ways to begin the process. Consumers can apply online, visit a banking center, or contact the bank by phone. The bank describes the application as a simple, no-obligation process.

What Are the Downsides?

Old National Bank Personal Loans will not be the right choice for everyone.

The most noticeable limitation is the $25,000 maximum loan amount. Borrowers who need substantially more for a large renovation, major debt consolidation project, or another expensive purpose may need to consider other financing options.

Repayment terms also depend on loan purpose. While home improvement borrowers may receive terms as long as 72 months, borrowers using the money for other purposes may be limited to shorter repayment periods.

Another consideration is credit eligibility. Old National requires applicants to meet its credit standards but does not publish the exact minimum credit score required. This can make it more difficult for potential borrowers to determine their likelihood of approval before applying.

The bank also notes that rates can change and that the exact APR depends on factors such as the applicant’s credit profile, loan purpose, and selected repayment term.

For these reasons, borrowers should review their personalized offer carefully rather than assuming that an advertised or illustrative rate will be the rate they receive.

Old National Personal Loan Rates and Fees

Old National uses a fixed APR for its personal loans. The exact rate offered depends on individual credit qualifications and other characteristics of the loan.

As of the bank’s current July 2026 disclosure, the maximum APR is 25.00%. Rates are determined using credit criteria and factors such as the repayment term selected, and they are subject to change.

The bank currently provides illustrative payment examples using an 8.99% interest rate. For example, its published examples show loans of $5,000, $15,000, and $25,000 over different repayment periods. However, Old National makes clear that these are only illustrations and do not represent guaranteed rates or loan offers.

Those examples also assume a $150 documentation fee when calculating the disclosed APR. Borrowers should confirm all fees associated with their specific loan before signing an agreement because actual terms depend on the individual application.

Old National does not publish one universal personal loan rate that every applicant receives. The bank explains that exact rate and payment information can only be determined after completing an application and authorizing the required credit review.

How to Apply for an Old National Personal Loan

Applicants can begin an Old National Bank Personal Loan application online, by phone, or at an Old National banking center.

During the process, the bank evaluates the applicant’s creditworthiness and other financial information. All loans are subject to credit review and approval, and meeting basic requirements does not guarantee that an applicant will qualify.

Consumers who are not ready to complete an application can also request information from an Old National banker. The bank states that simply getting connected with a banker does not affect the consumer’s FICO® Score. However, obtaining exact personalized rates and terms requires a formal application and authorization for a credit bureau report.

For consumers seeking between $2,500 and $25,000, Old National Bank Personal Loans can provide a practical way to finance debt consolidation, home improvements, unexpected costs, or major purchases without providing collateral.

The combination of a fixed APR, predictable monthly payments, multiple repayment options, and unsecured borrowing makes the product worth considering. Still, applicants should compare their personalized APR, fees, monthly payment, and total repayment cost with other lenders before accepting an offer.

For former readers interested in First Midwest Bank loans, Old National represents the natural current option following the banks’ merger, but today’s loan terms should be evaluated independently rather than assumed to be the same as the former First Midwest product.