- Overall bank rating
- Pros and cons
- Savings
- Checking
- CD
- Money market account
- How Old National Bank works
- Old National Bank trustworthiness and BBB rating
- Old National Bank vs. Fifth Third Bank
- Old National Bank vs. Huntington Bank
- Frequently asked questions
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The bottom line: Old National Bank could be appealing if you're a resident of Illinois, Indiana, Kentucky, Michigan, Minnesota, or Wisconsin who's searching for a brick-and-mortar bank with solid CD rates. If you'd like to avoid common bank fees, other financial institutions might make it easier with fee-free savings and checking accounts. You can also check out the best online banks if you don't live in an area with an ONB branch.
Overall bank rating
| Feature | Personal Finance Insider rating (out of 5) |
| Savings | 3.25 |
| Checking | 3.5 |
| CD | 3.75 |
| Money market account | 3.25 |
| Trustworthiness | 4 |
| Total | 3.5 |
Pros and cons
| Pros | Cons |
|
|
ONB Basic Savings Account
ONB Basic Savings Account Start saving On Old National Bank's website
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$4 monthly service fee
Annual Percentage Yield (APY)0.01%
Minimum Opening Deposit$50
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive the monthly service fee
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. ATM card included
- con icon Two crossed lines that form an 'X'. Low interest rate
- con icon Two crossed lines that form an 'X'. $4 monthly service fee
- con icon Two crossed lines that form an 'X'. Limit of 3 withdrawals per month
- con icon Two crossed lines that form an 'X'. $2 charge if you exceed the monthly withdrawal limit
- Nearly 200 branches in IL, IN, KY, MI, MN, and WI
- To waive the $4 monthly service fee, you must keep at least $300 in your account daily
- Interest compounded and deposited quarterly
- Member FDIC
The ONB Basic Savings Account works best if you regularly maintain at least $300 in your account daily, so you can waive the $4 monthly service fee. It also comes with an ATM card — a unique perk for a traditional savings account.
Bear in mind other banks pay higher interest rates on savings accounts. Our best high-yield savings accounts guide features strong contenders if one of your main priorities is earning more interest on your savings.
ONB Everyday Checking Account
ONB Everyday Checking Account Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$6.95 monthly service fee
Annual Percentage Yield (APY)None
Minimum Opening Deposit$50
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Overdraft protection available
- con icon Two crossed lines that form an 'X'. $50 minimum opening deposit
- con icon Two crossed lines that form an 'X'. $36 overdraft fee
- con icon Two crossed lines that form an 'X'. $12 overdraft transfer fee
- con icon Two crossed lines that form an 'X'. $6.95 monthly service fee
- con icon Two crossed lines that form an 'X'. $3 out-of-network ATM fee
- Nearly 200 branches in IL, IN, KY, MI, MN, and WI
- Access to over 55,000 free ATMs through the Allpoint ATM network
- To waive the $6.95 monthly service fee, you must meet one of the following requirements: receive a total of $500 or more in direct deposits each month; keep a minimum of $750 in your account daily; maintain a total balance of at least $1,500 across all your Old National Bank accounts; or be an active member of the military
- You may overdraw your account by $25 or less, and you won't have to pay an overdraft fee
- Overdraft protection that lets you apply for a line of credit or link your checking account to another Old National Bank account
- $12 transfer fee if you utilize overdraft protection
- Member FDIC
The ONB Everyday Checking Account might be worthwhile if you are part of the military, receive a total of $500 or more in direct deposits monthly, or meet one of the account minimum balance requirements. That way, you'll avoid paying a $6.95 monthly service fee.
You'll want to be mindful of overdraft fees or out-of-network ATM fees. The bank doesn't offer free overdraft protection or ATM fee reimbursements on the account.
ONB CD
ONB CD Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Annual Percentage Yield (APY)0.10% to 4.75%
Minimum Opening Deposit$500
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. $500 minimum opening deposit
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Good interest rates compared to other brick-and-mortar banks
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Variety of terms
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Standard early withdrawal penalties
- con icon Two crossed lines that form an 'X'. Interest compounded annually or at maturity, not daily
- con icon Two crossed lines that form an 'X'. Online banks may still pay higher interest rates on CD
- Nearly 200 branches in IL, IN, KY, MI, MN, and WI
- Access to over 55,000 free ATMs through the Allpoint ATM network
- Terms from 91 days to 5 years
- Early withdrawal penalties depend on CD term and amount deposited; Contact your nearest branch for more information
- Interest compounded and deposited annually or at maturity
- Member FDIC
Old National Bank CDs are the bank's strongest products. These CDs may stand out to you if you don't have a lot of money for an initial deposit. Compared to other brick-and-mortar banks, you'll also earn a higher interest rate regardless of which term you choose.
ONB Market Monitor Account
ONB Market Monitor Account Read Review Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Fees$20 monthly service fee
Annual Percentage Yield (APY)0.03% to 0.20%
Minimum Opening Deposit$50
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low minimum opening deposit
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Check writing included
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. ATM card option
- con icon Two crossed lines that form an 'X'. Low interest rate
- con icon Two crossed lines that form an 'X'. $20 monthly service fee
- Nearly 200 branches in IL, IN, KY, MI, MN, and WI
- Access to over 55,000 free ATMs through the Allpoint ATM network
- Earn 0.03% APY with a balance under $10k
- Earn 0.10% with balances between $10k and $49,999
- Earn 0.15% with balances between $50k and $99,999
- Earn 0.20% with balances over $100k
- To waive the $20 monthly service fee, keep at least $5,000 in your account daily
- Interest compounded and deposited monthly
- Member FDIC
The ONB Market Monitor Account has a hefty $20 monthly service fee if you don't keep at least $5,000 in your account daily.
While you'll have easy access to deposits, the money market account pays a pretty low interest rate even if you have a high account balance.
How Old National Bank works
Old National Bank has nearly 200 branches in Illinois, Indiana, Kentucky, Michigan, Minnesota, and Wisconsin. Customers also have access to over 55,000 free ATMs through the Allpoint ATM network.
To contact customer service, call from 8 a.m. to 6 p.m. ET on weekdays, or 8 a.m. to 1 p.m. ET on weekends.
Old National Bank's mobile app is rated 4.6 out of 5 stars in the Google Play store and 4.8 out of 5 stars in the Apple store.
Depsoits with Old National Bank are FDIC insured. Up to $250,000 is secure in an individual bank account.
Old National Bank trustworthiness and BBB rating
The Better Business Bureau rates businesses by how they deal with customer issues. Old National Bank has received an A+ rating.
Old National bank has been involved in a recent public controversy.
In 2021, the Southern Indiana District Court required Old National Bank to originate more than $27 million in loans to Black borrowers and majority-Black neighborhoods in Marion County due to a settlement that accused the bank of discriminating against Black applicants applying for home loans.
Old National Bank vs. Fifth Third Bank
Old National Bank and Fifth Third Bank are brick-and-mortar banks based in the Midwest. Here's how the two compare.
Locations IL, IN, KY, MI, MN, and WI | Locations FL, GA, IL, IN, KY, MI, NC, OH, SC, TN, and VA |
Standout feature CD interest rates | Standout feature Free checking account |
| Learn more | Learn more |
Fifth Third Bank offers a more appealing checking account than Old National Bank.
The Fifth Third Momentum® Checking doesn't charge monthly service fees and has free overdraft protection. If you don't sign up for overdraft protection, Fifth Third Extra Time is also available. The program waives overdraft fees on the bank's checking account if you restore your account balance before midnight ET the next business day.
If your goal is to open a CD, Old National Bank might be your top choice. Old National Bank requires a minimum of $500 to open a CD and pays higher rates than Fifth Third Bank.
Old National Bank vs. Huntington Bank
See how Old National Bank compares to another regional bank in the same states: Huntington Bank.
Locations IL, IN, KY, MI, MN, and WI | Locations IL, IN, KY, MI, OH, PA, and WV |
Standout feature CD interest rates | Standout feature Free checking account |
| Learn more | Learn more |
If you are searching for a strong checking account, you'll want to go with Huntington over Old National Bank.
The Huntington Asterisk-Free Checking® Account is a free checking account that currently offers a $150 bonus to new customers. To qualify for the cash reward, you'll need to deposit $1,000 within 60 days of opening a new account and keep the account open for 90 days.
Old National Bank might be worthwhile if you're looking for savings accounts. The ONB Basic Savings Account pays a higher interest rate than the Huntington Premier Savings Account if your account balance is over $10,000. Old National Bank could also be a decent option for CDs.
Frequently asked questions
How much does it cost to open a bank account with Old National Bank? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.You may open an Old National Bank checking account, savings account, or money market account with a minimum of $50. CDs require an initial deposit of $500.
How many locations does Old National Bank have? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Old National Bank has over 200 branches in the Midwestern region of the US. The regional bank serves residents in Illinois, Indiana, Kentucky, Michigan, Minnesota, and Wisconsin.
Is Old National Bank a good bank? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Old National Bank might be a good option if you prefer a traditional banking experience to online banking, but still want to earn a decent interest rate on a CD. If you're searching for high interest rates on other types of savings accounts, though, you'll want to consider other banks.
Sophia Acevedo Banking Editor Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics.ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, and budgeting and saving. She is highly knowledgeable about long-term trends in rates and offers at banks across the U.S.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money.ExpertiseSophia's expertise includes:- Bank accounts
- Savings and CD rate trends
- Budgeting
- Saving
- How banks operate
Evelyn He Compliance and Operations Associate Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Read more Read less Top Offers From Our Partners 
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