NOW Checking Description: This account pays you interest on your funds and provides easy access to your money. Requirements: Minimum balance to open the account is $500.00. Minimum balance to avoid imposition of fees is $500.00. Minimum balance to receive the annual percentage yield disclosed is $500.00. Benefits: Interest is compounded and credited to the account monthly. Cost: If the minimum monthly balance falls below $500.00 on any day during the statement cycle a $10.00 Base Service Charge fee will be imposed.