A NOW Checking account from YNB is the ideal account for higher balances that require fewer transactions within each statement cycle. In addition, earn interest on your average daily balance each statement cycle; see our current deposit rates. See all the benefits and features of a NOW Checking account below.
*Fee is only assessed if the average daily balance requirement of $2,000.00 is not met. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Transaction fee – $0.20 for each debit per statement cycle.
**Image fee of $2.50 will be charged each statement cycle for canceled check images included in paper statement.
Your interest rate and annual percentage yield may change at any time. Interest will be compounded every month. Interest will be credited to your account every month. If you close your account before interest is credited, you will not receive the accrued interest. You do not have to maintain the minimum average daily balance in the account in order to obtain the disclosed annual percentage yield. COMPUTATION METHOD: We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (i.e., checks).