PROSPECTUS                 Pricing Supplement No. 2838
Dated January 10, 1995     Dated May 7, 1996
PROSPECTUS SUPPLEMENT      Rule 424(b)(3)-Registration Statement
                            No. 33-60723
Dated January 25, 1995

              GENERAL ELECTRIC CAPITAL CORPORATION
               GLOBAL MEDIUM-TERM NOTES, SERIES A
                (Redeemable Step Up Coupon Notes)

Principal Amount:  US$20,000,000

Trade Date:  May 7, 1996

Settlement Date (Original Issue Date):May 10, 1996

Maturity Date: May 10, 2011 (unless earlier redeemed as described
under "Additional Terms--Optional Redemption" below.)

Price to Public (Issue Price):
  100.00%

Agent's Discount or Commission: 0.00%

Net Proceeds to Issuer (in Specified Currency):  US$20,000,000

Interest:

  Interest Rate:  The Notes will pay interest at the rate of 7.40%
  per annum for the period from the Original Issue Date up to but
  excluding the Interest Payment Date scheduled to occur on May
  10, 1997; thereafter, the interest rate on the Notes will reset
  annually on each May 10 in accordance with the schedule set
  forth under "Additional Terms--Interest" below. 

  Interest Payment Period:
  __ Annual    X  Semi-Annual    __ Monthly    __ Quarterly

  Interest Payment Dates:  November 10 and May 10 of each year,
  commencing November 10, 1996, up to and including the Maturity
  Date, unless earlier redeemed.  See "Additional Terms--Interest"
  below.

Repayment, Redemption and Acceleration:

  Initial Redemption Date:  May 10, 1997 (See  "Additional Terms--
  Redemption" below)
  Initial Redemption Percentage:100%
  Optional Repayment Date:  Not applicable ("N/A")              

POTENTIAL PURCHASERS OF THE NOTES ARE URGED TO READ THIS PRICING
SUPPLEMENT THOROUGHLY TOGETHER WITH THE ACCOMPANYING PROSPECTUS
DATED JANUARY 10, 1995 AND PROSPECTUS SUPPLEMENT DATED JANUARY 25,
1995. SEE "CERTAIN INVESTMENT CONSIDERATIONS" 
HEREIN.

CAPITALIZED TERMS USED IN THIS PRICING SUPPLEMENT WHICH ARE DEFINED
IN THE PROSPECTUS SUPPLEMENT SHALL HAVE THE MEANINGS ASSIGNED TO
THEM IN THE PROSPECTUS SUPPLEMENT

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                         Pricing Supplement No. 2838 
                         Dated May 7, 1996
                         Rule 424(b)(3)-Registration Statement 
                            No. 33-60723

Form of Notes:

  X  DTC registered
  __ non-DTC registered

  The Notes will be available in denominations of $1,000 and
  increments of $1,000 in excess thereof.

Original Issue Discount

  Amount of OID: N/A                       
  Yield to Maturity: N/A     
  Interest Accrual Date: N/A
  Initial Accrual Period OID: N/A              

Amortizing Notes:

  Amortization Schedule: N/A             

Dual Currency Notes:

  Face Amount Currency:  N/A
  Optional Payment Currency:  N/A  
  Designated Exchange Rate:  N/A

Indexed Notes:

  Currency Base Rate:  N/A

Additional Terms:

  Interest.  

  Interest on the Notes will accrue from May 10, 1996 and will be
  payable in U.S. dollars semi-annually on November 10 and May 10
  of each year, commencing November 10, 1996 up to and including
  the Maturity Date or date of earlier redemption (each, an
  "Interest Payment Date").  Interest will accrue from and
  including each Interest Payment Date to but excluding the next
  succeeding Interest Payment Date.  In the event an Interest
  Payment Date falls on a day other than a Business Day, interest
  will be paid on the next succeeding Business Day and no interest
  on such payment shall accrue for the period from and after such
  Interest Payment Date to such next succeeding Business Day.  The
  interest rate on the Notes will be equal to 7.40% per annum from
  and including the Original Issue Date up to but excluding May
  10, 1997.  Thereafter, the interest rate will be subject to
  adjustment annually on each May 10 in accordance with the
  following schedule:


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                         Pricing Supplement No. 2838 
                         Dated May 7, 1996
                         Rule 424(b)(3)-Registration Statement 
                            No. 33-60723



          Interest Period               Interest Rate
                                        (per annum)

     May 10, 1997 to May 9, 1998            7.450%
     May 10, 1998 to May 9, 1999            7.500%
     May 10, 1999 to May 9, 2000            7.550%
     May 10, 2000 to May 9, 2001            7.600%
     May 10, 2001 to May 9, 2002            7.650%
     May 10, 2002 to May 9, 2003            7.700%
     May 10, 2003 to May 9, 2004            7.750%
     May 10, 2004 to May 9, 2005            8.000%
     May 10, 2005 to May 9, 2006            8.250%
     May 10, 2006 to May 9, 2007            8.500%
     May 10, 2007 to May 9, 2008            8.750%
     May 10, 2008 to May 9, 2009            9.000%
     May 10, 2009 to May 9, 2010            9.500%
     May 10, 2010 to May 9, 2011           10.000%

  Optional Redemption.

  The Company may at its option elect to redeem the Notes in whole
  on May 10, 1997 or on any Interest Payment Date thereafter (each
  such date, an "Optional Redemption Date") at 100% of their
  principal amount plus accrued interest to but excluding the date
  of redemption (the "Redemption Date").  In the event the Company
  elects to redeem the Notes, notice will be given to registered
  holders not more than 60 nor less than 30 days prior to the
  Redemption Date.

Certain Investment Considerations:

  Prospective purchasers of the Notes should be aware that the
  Notes will pay interest at different fixed rates each year
  through the Maturity Date unless earlier redeemed by the
  Company.  Prospective purchasers should also be aware that the
  Company has the option to redeem the Notes on any Optional
  Redemption Date and will be likely to elect to redeem the Notes
  in the event prevailing market interest rates are lower than the
  then-current interest rate on the Notes.    



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                         Pricing Supplement No. 2838 
                         Dated May 7, 1996
                         Rule 424(b)(3)-Registration Statement 
                            No. 33-60723




Additional Terms:

  General

  At December 31, 1995, the Company had outstanding indebtedness
  totalling $107.755 billion, consisting of notes payable within
  one year, senior notes payable after one year and subordinated
  notes payable after one year.  The total amount of outstanding
  indebtedness at December 31, 1995 excluding subordinated notes
  payable after one year was equal to $107.058 billion.

Plan of Distribution:

  The Notes are being purchased by Smith Barney Inc. (hereinafter
  referred to as the "Underwriter"), as principal, at the Issue
  Price of 100% of the aggregate principal amount of the Notes.

  The Company has agreed to indemnify the Underwriter against and
  contribute toward certain liabilities, including liability under
  the Securities Act of 1933, as amended.