Competitive CD Rates for Your Savings Goals

Guaranteed growth for your future.

Old National Bank offers competitive Certificate of Deposit (CD) rates, providing a secure way to grow your savings. With various term lengths available, you can choose the option that best fits your financial goals, all backed by FDIC insurance for peace of mind.

Explore Old National Bank CD Rates Today

Old National Bank provides a range of competitive Certificate of Deposit (CD) rates designed to help you meet your savings objectives. Our current CD rates reflect market conditions while offering a reliable return on your deposit. Whether you're saving for a down payment, retirement, or simply building your emergency fund, a CD can be a valuable addition to your financial strategy.

We regularly update our rates to ensure they remain attractive for our clients. By locking in a rate for a specific term, you gain predictability in your earnings, which is a key advantage of Old National Bank CDs. This stability allows for precise financial planning, knowing exactly what your return will be at maturity.

Reviewing Old National Bank CD rates today is the first step towards securing a predictable growth path for your funds. We offer various terms to accommodate different time horizons, allowing you to align your investment with your personal financial timeline. Our goal is to provide clear, understandable options for your savings.

Understanding Certificate of Deposit (CDs)

A Certificate of Deposit (CD) is a type of savings account that holds a fixed amount of money for a fixed period of time, and in return, the issuing bank pays interest. When you open an Old National Bank CD, you agree to keep your funds deposited for the chosen term, which can range from a few months to several years. In exchange for this commitment, you typically receive a higher interest rate than a standard savings account.

The primary benefit of CDs is their predictability and security. The interest rate is fixed for the duration of the term, meaning your earnings are guaranteed, regardless of market fluctuations. Furthermore, all Old National Bank CDs are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum legal limit, currently $250,000 per depositor, per insured bank, for each account ownership category. This insurance provides unparalleled safety for your principal investment. Learn more about FDIC insurance at FDIC.gov.

CDs are popular for individuals looking for a low-risk savings vehicle. They are distinct from other investment products because they protect your principal while providing a steady return. This makes Old National Bank CDs an excellent choice for conservative savers who prioritize security and guaranteed growth over higher-risk, potentially higher-reward investments.

Choose Your Ideal CD Term

Old National Bank understands that different savings goals require different timeframes. That's why we offer a diverse selection of CD terms to match your specific needs. From short-term options that provide quick access to your funds to long-term CDs that maximize your interest earnings over several years, you can find the right fit.

The ideal CD term aligns directly with your financial horizon. If you anticipate needing funds in six months, a short-term CD is appropriate. For long-term goals like retirement, a multi-year CD can offer higher rates.

Our available terms typically range from a few months, such as 3-month or 6-month CDs, up to several years, like 3-year or 5-year CDs. Longer terms often come with higher interest rates, rewarding you for keeping your money deposited for an extended period. Conversely, shorter terms offer more liquidity, allowing you to access your principal and earned interest sooner. Consider your future financial needs when selecting the optimal Old National Bank CD term.

Benefits of Old National Bank CDs

Investing in an Old National Bank CD offers several distinct advantages for savers seeking security and predictable growth for their money.

These benefits combine to make Old National Bank CDs a sound choice for conservative savers focused on capital preservation and steady, reliable income generation from their savings.

How to Open an Old National Bank CD

  1. Gather Your Information: You'll need standard identification like a government-issued ID, your Social Security number, and details of the funds you wish to deposit. Having this ready will expedite the process.
  2. Choose Your CD Term and Amount: Decide on the term length that best suits your financial goals and the amount you wish to deposit. Remember that generally, longer terms at Old National Bank may offer higher interest rates.
  3. Apply Online or In-Branch: You can conveniently open an Old National Bank CD account through our secure online application portal or by visiting any of our local branches. Our banking professionals are available to assist you with any questions.
  4. Fund Your CD: Once your application is approved, you'll transfer the initial deposit into your new CD account. This can typically be done via an internal transfer from an existing Old National Bank account, an external transfer, or a check.

Opening an Old National Bank CD is a straightforward process designed for your convenience. Our team is ready to guide you through each step, ensuring you select the CD product that best fits your savings strategy.

Frequently Asked Questions About CDs

Here are some common questions about Old National Bank Certificate of Deposit accounts and their features.

CD Term Current APY (Annual Percentage Yield) Minimum Deposit Early Withdrawal Penalty
3-Month Old National Bank CD X.XX% $1,000 90 days simple interest
6-Month Old National Bank CD Y.YY% $1,000 90 days simple interest
12-Month Old National Bank CD Z.ZZ% $1,000 180 days simple interest
24-Month Old National Bank CD A.AA% $1,000 180 days simple interest
36-Month Old National Bank CD B.BB% $1,000 365 days simple interest

Questions about CD Rates

What is the minimum deposit to open an Old National Bank CD?

The minimum deposit required to open most Old National Bank Certificate of Deposit accounts is typically $1,000. However, specific promotional CDs may have different minimums, so it's always best to check the current offerings or speak with a banking specialist.

Are Old National Bank CD rates fixed?

Yes, once you open an Old National Bank CD, the interest rate is fixed for the entire term of the certificate. This ensures predictable earnings and means your rate will not change even if market interest rates fluctuate during your CD's term.

What happens when my Old National Bank CD matures?

Before your Old National Bank CD matures, we will send you a maturity notice detailing your options. You can typically renew the CD for a new term, withdraw your funds, or transfer them to another Old National Bank account. There is usually a grace period after maturity to make your decision.

Can I add money to an Old National Bank CD after it's opened?

Generally, no, you cannot add money to an Old National Bank CD after the initial deposit. CDs are designed for a single, fixed deposit for a set term. If you wish to deposit more funds, you would typically need to open a new CD account.

What are the penalties for early withdrawal from an Old National Bank CD?

If you withdraw funds from an Old National Bank CD before its maturity date, you will typically incur an early withdrawal penalty. The penalty amount varies depending on the CD's term length and the amount withdrawn, as outlined in your account agreement.

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