What is the minimum balance required to open and maintain an account?

The minimum balance required to open and maintain an account at BankNewport varies depending on the type of account. For personal checking accounts, the minimum balance required to open an account is $50. However, there is no minimum balance required to maintain the account. For personal savings accounts, the minimum balance required to open an account is also $50, with a $100 minimum balance required to avoid a monthly service fee. For business checking accounts, the minimum balance required to open an account is $100, and there is no minimum balance required to maintain the account. Other types of accounts, such as money market accounts and certificates of deposit, may have different minimum balance requirements, which can be found on our website or by contacting a BankNewport representative.