PROSPECTUS                 Pricing Supplement No. 2988
Dated January 10, 1995     Dated April 1, 1997
PROSPECTUS SUPPLEMENT      Rule 424(b)(3)-Registration
Dated January 25, 1995     Statement No. 33-60723


              GENERAL ELECTRIC CAPITAL CORPORATION
               GLOBAL MEDIUM-TERM NOTES, SERIES A
                  (Redeemable Fixed Rate Notes)

Trade Date:  April 1, 1997

Settlement Date (Original Issue Date):  April 4, 1997

Maturity Date:  April 6, 2012 (subject to earlier redemption, as
               set forth under "Additional Terms-Redemption")

Principal Amount (in Specified Currency): US$25,000,000

Price to Public (Issue Price): 100.00%

Agent's Discount or Commission: 0.00%

Net Proceeds to Issuer:  US$25,000,000

Interest Rate Per Annum:  7.75%

Interest Payment Date(s):

  ___  March 15 and September 15 of each year
   X   Other: April 6 and October 6 of each year, commencing on
       October 6, 1997 (with respect to the period from and
       including April 4, 1997 to but excluding October 6, 1997)

Form of Notes:

   X   DTC registered        ___  non-DTC registered

Repayment, Redemption and Acceleration

Initial Redemption Date:  April 6, 1998, and thereafter on any
     Interest Payment Date (See  "Additional Terms--Redemption"
     below)
Initial Redemption Percentage:  100%
Optional Repayment Date:  Not applicable ("N/A")
Annual Redemption Percentage Reduction:  N/A
Modified Payment Upon Acceleration:  N/A



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.

                       (Fixed Rate Notes)
                           Page 2
                      Pricing Supplement No. 2988
                      Dated April 1, 1997
                      Rule 424(b)(3)-Registration
                      Statement No. 33-60723

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
  Option Value Calculation Agent:  N/A
  Option Election Date(s):  N/A

Indexed Notes:

  Currency Base Rate:  N/A
  Determination Agent:  N/A

Additional Terms:

  Interest.

  Interest on the Notes will accrue from and including April 4,
  1997 and will be payable in U.S. dollars semi-annually on April
  6 and October 6 each year, commencing October 6, 1997 (with
  respect to the period from and including April 4, 1997 to but
  excluding October 6, 1997) 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.  
 
  Optional Redemption.
  
  The Company may at its option elect to redeem the Notes in whole
  on April 6, 1998 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.

  
                       (Fixed Rate Notes)
                           Page 3
                      Pricing Supplement No. 2988
                      Dated April 1, 1997
                      Rule 424(b)(3)-Registration
                      Statement No. 33-60723

  Certain Covenants of the Company.

  As of August 1, 1996, the Company entered into a supplemental
  indenture with The Chase Manhattan Bank, as trustee, eliminating
  the covenants of the Company described in the Prospectus under
  the caption "Certain Covenants of the Company".  Consequently,
  the information under such caption is not applicable to the
  Notes.

Additional Information:  

  General.

  At December 31, 1996, the Company had outstanding indebtedness
  totalling $121.792 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, 1996 excluding subordinated notes
  payable after one year was equal to $121.095 billion.

  Consolidated Ratio of Earning to Fixed Charges.

  The information contained in the Prospectus under the caption
  "Consolidated Ratio of Earnings to Fixed Charges" is hereby
  amended in its entirety, as follows:

                    Year Ended December 
               1992  1993  1994  1995  1996
               1.44  1.62  1.63  1.51  1.53

  For purposes of computing the consolidated ratio of earnings to
  fixed charges, earnings consist of net earnings adjusted for the
  provision for income taxes, minority interest and fixed charges. 
  Fixed charges consist of interest and discount on all
  indebtedness and one-third of rentals, which the Company
  believes is a reasonable approximation of the interest factor of
  such rentals.

  Documents Incorporated by Reference.

  The information contained in the Prospectus in the first
  paragraph of text under the caption "Documents Incorporated by
  Reference" is hereby amended in its entirety, as follows:  There
  is hereby incorporated in the Prospectus by reference the
  Company's Annual Report on Form 10-K for the year ended December
  31, 1996.


                       (Fixed Rate Notes)
                           Page 4
                      Pricing Supplement No. 2988
                      Dated April 1, 1997
                      Rule 424(b)(3)-Registration
                      Statement No. 33-60723

Plan of Distribution:

  The Notes are being purchased by Smith Barney Inc. (the
  "Underwriter"), as principal, at the Issue Price of 100.00% of
  the aggregate principal amount.

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