Do you qualify?
While it doesn’t specify a hard minimum, Old National states that it looks for a good credit score, but it will also consider other factors, including employment and income. You’re also required to have at least five years of credit history that is free of bankruptcies, foreclosures, repossessions and other major credit issues.
If you don’t meet these qualifying factors, you may still qualify for a loan with a cosigner. Cosigners must meet the required credit score qualifications, though.
Personal loans are available to borrowers in the following states: Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota or Wisconsin. If you live in a different state and are interested in applying for a personal loan with First Midwest, contact their customer service team to find out if you’re eligible.
What Old National Bank doesn't allow funds to be used for
Old National advertises that their personal loans have a wide range for how they can be used. They specify that loans may fund a vacation, home renovations or paying for unexpected expenses. However, the bank doesn’t get specific about the types of expenses they won’t fund. For more details on what you can and can’t use an Old National personal loan for contact your local branch or the Old National customer service team.
Old National Bank vs. Discover
Discover and Old National Bank have the same range of interest rates for personal loans. However, Discover differs as a lender in a few ways. The lender specifies the credit score minimum required to qualify for one of their loans is 660 and borrowers must have an income of at least $25,000. Additionally, Discover can provide loan funds within one business day, whereas Old National Bank funds loans in about three business days. Discover also services a wider range of areas than Old National does, so consumers outside the range of Old National Bank may find Discover easier to work with.
Old National Bank vs. Happy Money
Happy Money is a virtual lender, but has similar terms and rates to Old National Bank. Happy Money has interest rates starting at 11.52% APR and up to 24.81% APR, so the range is similar to Old National but they are slightly higher. Additionally, Happy Money doesn’t have the option for payment terms quite as long as Old National; Happy Money’s maximum term length is five years, while the maximum term length for Old National is seven years.
Auto loans, mortgages, home equity loans and personal loans are all available through First Midwest. Its unsecured Express personal loan offers competitive interest rates and a flexible borrowing range. It can be used to consolidate high-interest credit card debt or fund home improvement projects, weddings, vacations and unforeseen expenses.
Its personal loans are available to borrowers in the following states: Arkansas, Colorado, Connecticut, Delaware, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Minnesota, Missouri, Nebraska, New Hampshire, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and Wisconsin.