Are you looking for a new banking experience with rewarding benefits? Old National Bank (ONB) is currently offering a range of attractive promotions for new customers, including substantial cash bonuses for opening checking accounts, competitive interest rates on CDs, and special offers on home equity lines of credit. Whether you’re seeking to maximize your savings or manage your finances more effectively, ONB provides compelling options worth exploring.
Earn Up to $650 with a New ONB Checking Account
For individuals opening a new ONB Everyday or Preferred Checking account, a significant cash bonus is within reach. New personal checking customers who open an account between February 1, 2025, and June 2, 2025, either online or at any Old National banking center, can qualify for up to $650. Here’s how the bonus tiers break down:
$650 Cash Bonus Qualification
To receive the maximum $650 bonus, you need to establish consistent direct deposits into your new checking account. Specifically, you must make qualifying direct deposits totaling at least $3,500 per month for three consecutive calendar months.
$300 Cash Bonus Qualification
If you don’t meet the threshold for the larger bonus, you can still earn a solid $300 cash bonus. This requires making qualifying direct deposits totaling at least $1,000 per month to the new account for three consecutive calendar months.
Important Details for Checking Account Bonuses:
- Qualification Period: The three consecutive calendar months for direct deposits begin in the month following the month you open your account.
- Qualifying Direct Deposits: These include electronic direct deposits of your paycheck, pension payments, Social Security, or other government benefits. The deposits must come from an employer, government agency, or similar third-party organization via ACH.
- Non-Qualifying Deposits: Deposits made via teller, ATM, mobile deposit, wire transfers, debit card transfers, transfers between Old National accounts, external transfers from other banks, or peer-to-peer services like Zelle or Venmo do not count towards the direct deposit requirement.
- Bonus Limit: Only one cash bonus is permitted per Taxpayer Identification Number (TIN) or Social Security Number (SSN). This bonus is not available to existing Old National personal checking account holders (including joint account owners), those who have closed a personal checking account within the last 12 months, or individuals who have received an ONB personal checking promotional bonus in the past 12 months, or Old National employees.
- Bonus Payout: To receive the bonus, the new checking account must remain open, have a balance greater than $0, and be in good standing when the bonus is paid. The bonus will be deposited within 130 days after account opening.
- Tax Information: The bonus may be reported to the IRS on Form 1099-MISC.
- Minimum Opening Deposit & Fees: A minimum deposit of $50 is required to open an Everyday or Preferred Checking account. If the account is closed within 180 days, a $25 fee will be assessed.
Maximize Savings with a Market Monitor Account
Old National Bank also offers a competitive interest rate with their Market Monitor account. For those looking to grow their savings, this account provides an attractive Annual Percentage Yield (APY), especially for larger balances.
Market Monitor Account Highlights:
- Competitive Interest Rate: As of January 29, 2025, the account offers a 3.75% APY (3.69% interest rate) for balances of $20,000 or more. For balances below $20,000, the APY is 0.05% (0.05% interest rate). These rates are subject to change.
- New Money Rate Plan: The 3.75% APY is part of a “new money” rate plan, applicable to funds not currently on deposit at Old National Bank as of January 28, 2025.
- Minimum Deposit for Higher Rate: To qualify for the 3.75% APY, a minimum opening deposit of $20,000 in new money is required, and this balance must be maintained. You have 15 calendar days to meet this minimum after opening the account.
- Standard Rate if Minimum Not Met: If you don’t meet the $20,000 minimum, your account will be repriced at the standard Market Monitor rate plan (0.05% APY for balances below $20,000).
- Account Restrictions: Market Monitor accounts are for personal deposits and personal trusts only. They are not available for business, public, or institutional funds.
- Rate Changes & Account Closure Fee: Interest rates are variable and may change. If the account is closed within 180 days, a $25 fee applies.
Special 5-Month CD Rate
For those seeking a fixed-rate investment, Old National Bank is offering a promotional rate on a 5-month Certificate of Deposit (CD).
5-Month CD Offer Details:
- Promotional Rate: A 4.30% Annual Percentage Yield (APY) (4.22% interest rate) is offered on new 5-month CDs with balances of $500 or more. This rate was accurate as of February 21, 2025, and is subject to change.
- Fixed Rate: CD rates are fixed when you open the account, providing rate security for the 5-month term.
- Early Withdrawal Penalty: Withdrawing funds before the CD maturity date may result in an early withdrawal penalty, which could reduce your earnings.
- Automatic Renewal: Upon maturity, the CD will automatically renew for another 5-month term at the standard rate and APY in effect at that time.
- Eligibility: This offer is not available for public funds, institutional funds, or brokered CDs.
Home Equity Line of Credit Promotion
Homeowners can also benefit from a promotional offer on a Home Equity Line of Credit (HELOC) from Old National Bank.
HELOC Offer Highlights:
- Introductory Variable Rate Discount: For the first 6 billing cycles, enjoy a discounted variable rate. This introductory rate is based on a 1.50% discount below the prime rate, resulting in an initial APR of 1.65% below the Wall Street Journal prime rate (currently 7.10%).
- Variable Rate After Introductory Period: After the introductory period, the rate will adjust based on The Wall Street Journal prime rate plus or minus a margin.
- Fixed Rate During Repayment: After a 10-year draw period, the rate becomes fixed for the 20-year repayment term, based on the rate at the end of the draw period plus a margin (currently 3.00%).
- Rate Reduction Option: You can potentially receive a 0.25% rate reduction at origination by enrolling in automatic loan payments from an ONB checking account.
- Fees: The initial $50 annual fee is waived. However, if you close or refinance your HELOC within 3 years, a reimbursement fee may apply to cover closing costs.
- Credit and Property Insurance: The HELOC is subject to credit approval, and property insurance is required.
Important Note: Rates and terms for the HELOC are effective as of December 19, 2024, for applications received through July 31, 2025, and are subject to change.
Explore Bank Nbsc and Old National Bank Offers Today
While the term “Bank Nbsc” might be an uncommon search term, if you are looking for excellent banking services and rewarding financial products, Old National Bank provides a comprehensive suite of options. From cash bonuses on checking accounts to competitive rates on savings products and home equity lines, ONB is worth considering for your financial needs.
To learn more about these offers and to open an account, visit the Old National Bank website or contact your local ONB banking center. Don’t miss out on these limited-time promotions!
Disclaimer: All offers are subject to terms and conditions. See Old National Bank for complete details and eligibility requirements. Offers may be changed or discontinued at any time. Member FDIC.
