Checking with Interest

Checking with Interest:
Account must be opened with a minimum of $500.00 and maintain at least a $500.00 balance. 
Balances of $500.00 - $2,499.99 earn an interest rate of .05% with a .05% APY. Balance of $2,500.00 or more earn a rate of .07% with an APY of .07%.
A monthly service charge of $5.00 applies only if the balance of the account drops below $500.00 any day of the statement cycle.