Updated
Fact Checked
Ashley Maready
Old National Bank CDs are available to Midwesterners who are willing to open a CD in person at a physical branch. Since you can't open a CD online, you also can't view all of Old National Bank's CD rates, making it difficult to compare the bank with today's top-paying CDs.
Whether you prefer in-person banking or live in a state where Old National Bank operates, keep reading to find out what this legacy bank has to offer.
Old National Bank CD
- 7 APY: 4.75%
Rates as of April 25, 2024
APY = Annual Percentage Yield
Term
Old National Bank CD
7 Mo.
4.75%
Compare Old National Bank CD rates
Although Old National Bank doesn't show rates for its certificates of deposit (CD) online, it does occasionally advertise rates for special CD terms. With that in mind, here's how the bank stacks up against today's top-paying CDs.
Rates as of April 25, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Member FDIC.
| APY: 5.10% | Term: 10 Months | Min. Deposit: $0 | |
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
| APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | |
|
| APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | |
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
Details about Old National Bank CDs
Old National Bank CDs have low minimums and, sometimes, competitive annual percentage yields (APYs). Though its APYs remain hidden, let's take a look at what we know about its CDs.
Standard CDs
Pros
- Low minimum deposits
- Variety of terms
Cons
- APYs are hidden
- Only available in-person
- Limited physical branches
- Early withdrawal penalty
Old National Bank CDs have an opening minimum deposit of $500 -- not a high threshold at all, especially when other CDs require deposits of $1,000 or more. According to Old National Bank, it also offers both short and long terms, but since those details aren't disclosed online, it's unclear what it means by "short" and "long."
Perhaps the most frustrating part of Old National Bank is that it doesn't show its CD rates online. That said, it does occasionally advertise limited time offers on special CD terms. For example, it currently has a 7-month CD with a 4.75% APY. That's a decent APY for a CD, but it's not the most competitive rate we've seen.
If you want to know more about Old National Bank CD rates, you have to schedule a visit to one of its 261 brick-and-mortar branches. While that might be inconvenient, you won't know how the bank stacks up against the best CDs until you do.
Rates as of April 25, 2024
APY = Annual Percentage Yield
Old National Bank CD
Bottom Line
At this time, Old National Bank only offers one specific CD rate and term online, but its lineup includes many more than that. The bank's website states you can choose from a variety of terms, both short and long, and open a CD with as little as $500 or as much as $500,000. You'll need to make an appointment at an Old National Bank branch to find out what CDs are on offer and to open one, if you so choose.
MINIMUM DEPOSIT $500
| 7 Mo. APY |
|---|
| 4.75% |
Who is an Old National Bank CD right for?
Old National Bank CDs might be right for you if you live or work near one of its bank locations and don't mind popping in to open a CD account in-person. This might not be an issue if Old National is already your bank, but if you're shopping for CDs online, this could become a major inconvenience. While it's unclear how much you can earn on an Old National Bank CD, there are still plenty of high-yield CDs that you can open online, like those offered through the financial platform Raisin.
Keep reading about Old National Bank:
Our CDs methodology
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
See our full Ratings Methodology here.
FAQs
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Old National Bank is currently in seven states: Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, and Wisconsin.
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The maximum deposit is $500,000.
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Old National Bank might be a good investment, but it depends on its APYs, early withdrawal penalty, and CD terms, all of which you'll discover at an Old National Bank branch near you. That said, online banks typically offer higher APYs than brick-and-mortar institutions, like Old National Bank. If your goal is to earn high interest, it would be wise to compare Old National Bank with other CD providers before you lock your money away.
Our Banking Experts
Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.
Fact Checked
Ashley Maready
Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.
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