Why choose a high-yield savings account?

Traditional savings accounts often offer minimal returns that barely keep pace with inflation. A high-yield savings account provides a higher annual percentage yield (APY) than standard savings, so your money works harder for you while remaining liquid and safe. With Old National Bank’s High-yield Savings Account, you get the benefits of enhanced earnings, flexible access, and professional support from a trusted regional bank.

Key features

• Competitive APY: Earn a higher yield compared to conventional savings, helping your balance grow faster over time.
• Easy transfers: Seamless transfers between your Old National checking and savings accounts; convenient automated transfers to build habits.
• Digital-first management: Full account access through online banking and mobile apps—view balances, set up recurring deposits, and track progress on the go.
• Low minimums: Accessible opening balance requirements and tiered options to fit both new savers and seasoned investors.
• Withdrawal flexibility: Secure access to funds when you need them, with clear policies to balance Earned yields and liquidity.
• Security and protection: Deposits are protected by standard insurance coverage where applicable; robust fraud monitoring and encryption protect online activity.

Benefits for customers

Old National Bank’s High-yield Savings Account is designed to serve a wide range of financial goals and lifestyles:

• Short-term goals: Save for upcoming expenses—vacations, appliances, or a down payment—while earning meaningful interest.
• Emergency fund: Maintain a liquid reserve that grows over time, providing financial resilience without sacrificing return.
• Long-term accumulation: Pair with automatic deposits to steadily build wealth for larger milestones such as education funding, home improvements, or future investments.
• Family savings: Manage separate savings buckets for children, special projects, or shared household goals using multiple accounts.

How it works

Opening and managing the High-yield Savings Account is simple:

1. Open an account: Choose the High-yield Savings option and complete the application online, in the mobile app, or at a branch.
2. Fund your account: Make an initial deposit by transfer from another bank account, internal transfer from your Old National checking, or cash deposit at any branch.
3. Set a strategy: Use recurring transfers to automate savings, or set up alerts and targets to stay on track.
4. Earn interest: Interest compounds according to account terms, credited at regular intervals to maximize growth.
5. Access when needed: Withdraw or transfer funds with the ease and security you expect from your bank.

Account management and digital tools

Manage your money with modern, intuitive tools:

• Online dashboard: See balances, recent activity, and interest earned at a glance.
• Mobile app: Deposit checks, transfer funds, and receive push notifications for goal milestones.
• Automated savings: Schedule recurring deposits that align with paydays or budget cycles to accelerate growth without manual effort.
• Custom alerts: Get notified of large transactions, low balances, or progress toward your savings target.

Fees, limits and eligibility

The High-yield Savings Account is structured to be straightforward and transparent. Fee schedules, minimum balance requirements, and transaction limits vary by account type and customer relationship level. Review the account terms for specifics on monthly maintenance, excessive transaction rules, and any tiered-rate thresholds. Choosing paperless statements and maintaining qualifying balances can often reduce or eliminate fees.

Security and trust

Your financial safety is a priority. The High-yield Savings Account is supported by industry-standard security measures, including encrypted online access, multi-factor authentication where available, and continuous monitoring for suspicious activity. Additionally, account management tools help you maintain control of your funds and detect unusual events quickly.

Who it’s best for

This product is well-suited for:

• Individuals building an emergency fund who want better returns than a basic savings account.
• Goal-oriented savers who prefer automated, low-effort growth strategies.
• Customers who value a combination of competitive yield and ease of access through a trusted regional bank.
• Families and households managing multiple savings priorities simultaneously.

Tips to maximize your returns

• Automate transfers aligned with paydays to create consistent savings habits.
• Consolidate idle cash into your high-yield account to take advantage of compounding.
• Review account tiers and maintain qualifying balances to benefit from higher rates where applicable.
• Use the account for planned savings goals rather than routine spending to preserve growth momentum.

Frequently asked questions

Can I transfer money between accounts?

Yes. Transfers between your Old National accounts are typically immediate and can be managed online or via mobile app.

Are there restrictions on withdrawals?

Withdrawal policies balance liquidity and account structure. Review the account agreement for details on any monthly transaction limits and eligible withdrawal methods.

What protections are in place for my deposits?

Deposits are held with the bank under applicable deposit protections. Security features and fraud monitoring are employed to protect your account access and activity.