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1. What is an SBA loan?

   SBA loans are guaranteed by the US Small Business Administration (up to a certain amount) and are issued by participating lenders, mostly banks. Old National is recognized as a Preferred Lender by the SBA and has many years of experience with the SBA 7(a) program, the SBA Express program and the SBA 504 program.

   SBA program benefits include smaller down payments, longer maturities with no balloon payment and fixed or floating rates. SBA loans typically provide more flexible financing at competitive terms that you might not otherwise qualify for. To learn more about SBA loans at Old National, please visit our SBA Loans page.

2. Why is LIBOR being discontinued?

   LIBOR was introduced in the 1980’s as a benchmark interest rate that was intended to reflect banks’ average cost of short-term, wholesale unsecured borrowing. Over time, and particularly during the financial crisis that began in 2007, banks became less and less reliant on inter-bank lending. As a result, the number and dollar volume of transactions from which LIBOR was derived declined dramatically. To make up for this shortfall, LIBOR panel banks resorted to using “expert judgment” when submitting various rates used in calculating LIBOR. This left it susceptible to manipulation and fraud.

   In 2017, the UK Financial Conduct Authority (FCA), the regulator for LIBOR, announced that after December 31, 2021, the panel banks would no longer be required to submit settings for LIBOR. (This has since been revised to June 30, 2023, for most LIBOR tenors.) This announcement effectively started the countdown to the end of LIBOR.

3. I had damage to my house and received a check from the insurance company with Old National’s name on it. How do I cash or deposit it?

   If you have your mortgage with Old National and a homeowners insurance claim, we will be an active part of your claim process. Your loan with us is based on your home’s value, so we want to ensure your property is repaired and the value is maintained.

   We have developed a Guide to Homeowners Insurance Claims that will give you an overview of the claim process and the necessary forms you will need along the way.

   Please note: This guide outlines processing insurance claims checks for HOME mortgages only (e.g. conventional first mortgages).

   For consumer loans, such as a vehicle or boat, quick home refi, home equity loans, including second mortgages, please use our Guide to Insurance Claims for Consumer Loans. 

   For commercial or business property, contact your Old National Bank commercial lender for guidance.

4. Do you offer a checking account for seniors?

   Yes. Our Old National Classic Checking is especially for clients age 50 and better. Here are some of the benefits:

   • Earn interest with tiered rates
   • Receive complimentary Old National standard checks or 25% off other styles
   • Have check images mailed with statements or view online images with eStatements 
   • Pay no monthly service charge if you complete qualifying banking activities each month or maintain a minimum balance of $750 or a combined balance of $5,000 in checking, savings or money market accounts.

   To learn more or open an Classic Checking account, visit your nearest banking center, call us at 1-800-731-2265 or open your account online.

   You can also visit our Classic Checking page for more information.

5. What types of business accounts do you offer?

   Old National offers a wide range of business and commercial banking products including:

   • Loans and lines of credit
   • SBA loans
   • Business credit cards
   • Investment real estate
   • Community development lending
   • Business checking
   • Online and mobile banking
   • Treasury Management solutions and
   • Merchant Services

   We also provide products and services for your employees, such as Health Savings Accounts and retirement planning. Our Partnership Banking program offers special perks and services to help your employees save money and achieve their financial goals.

   To learn more, please call us at 1-800-731-2265, stop by any banking center or visit the Business Banking Solutions page on our website.

6. What is mortgage refinancing?

   When you refinance your mortgage, you are essentially paying off your existing mortgage and replacing it with a new one. Mortgage refinancing can provide several benefits, including the opportunity to lower your interest rate, lower your monthly payment and pay off your loan earlier.
   
   Old National offers both the Quick Home Refi (QHR) and our standard mortgage refinancing product. You can learn more about each one and how to apply on our Mortgage Refinancing page.
   
   
   
   
   

7. If my business uses ONPointe Treasury or ONPointe Essentials, whom do I contact for support?
   Contact Treasury Management Support at 1-800-844-1720 for assistance with ONPointe login, information reporting, ACH and wire transfer origination, positive pay and general questions.
8. How do I activate my new debit card?

   Call 1-800-992-3808 and follow the prompts for activating your card and establishing a personal identification number (PIN).

   If you have questions or need assistance, call Client Care at 1-800-731-2265.

9. Are Card Controls secure?

   Card Controls is a feature within our Online Banking and Mobile Banking platforms. We regularly test, update and validate our security model to ensure we maintain a banking grade level of security.

10. How can I send a wire transfer?

    To send money to both personal and business accounts in the US and internationally, visit your nearest Old National Banking Center.

    To learn more about domestic and international wires, including wire transfer fees, visit our Business Wire Transfers page or our Personal Wire Transfers page.