The Checking account interest rate at Capital One Direct Banking has just changed from 0.602% APY to 0.6018% APY with a minimum of $5,000 required. See the full details and rate info at Capital One Direct Banking Checking Account rate. Interest Online Checking Promo Promotional rates applied to accounts that are less than one year old. After the promotional rate expires, the standard rate will apply to the entire balance. The rate for balances over $100K applies only to that portion of the balance over $100K.