PROSPECTUS                 Pricing Supplement No.    3128
Dated January 10, 1995     Dated May 6, 1998
PROSPECTUS SUPPLEMENT      Rule 424(b)(3)-Registration Statement
Dated January 25, 1995     No. 333-07469

              GENERAL ELECTRIC CAPITAL CORPORATION
               GLOBAL MEDIUM-TERM NOTES, SERIES A
                       (Fixed Rate Notes)
Trade Date:    May 6, 1998

Settlement Date (Original Issue Date):       May 11, 1998

Maturity Date: May 11, 2001

Principal Amount (in Specified Currency):   US$100,000,000.00

Price to Public (Issue Price):     100.00%

Agent's Discount or Commission:    0.25%

Net Proceeds to Issuer:       US$99,750,000.00

Interest Rate Per Annum:  5.89%

Interest Payment Date(s):

       X     March  15  and September 15 of each year  commencing
       September  15, 1998 (with respect to the period  from  and
       including  May  11,  1998 to but excluding  September  15,
       1998)  and  on  the  Maturity Date (with  respect  to  the
       period   from  and  including  March  15,  2001   to   but
       excluding May 11, 2001).
  ___  Other:
Form of Notes:

  X  DTC registered        ___ non-DTC registered

Repayment, Redemption and Acceleration

  Optional Repayment Date(s):  N/A
  Initial Redemption Date:  N/A
  Initial Redemption Percentage:  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)
                                Page 2
                           Pricing Supplement No.    3128
                           Dated May 6, 1998
                           Rule 424(b)(3)-Registration Statement
                           No. 333-07469

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:

   Certain Covenants of the Company.

   As  of August 1, 1996, the Company entered into a supplemental
   indenture  with  The  Chase Manhattan Bank,  as  trustee  (the
   "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.   As  of
   February  27,  1997, the Company entered into a Third  Amended
   and  Restated Indenture with the Trustee.  References  in  the
   accompanying   Prospectus   Supplement   and   Prospectus   to
   "Indenture"  shall be amended to refer to such  Third  Amended
   and Restated Indenture
                     (Fixed Rate)
                                Page 3
                           Pricing Supplement No.    3128
                           Dated May 6, 1998
                           Rule 424(b)(3)-Registration Statement
                           No. 333-07469

Additional Information:

   General.

  At  December 31, 1997, the Company had outstanding indebtedness
  totalling $136.814 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, 1997 excluding subordinated  notes
  payable after one year was equal to $136.117 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 31,
           1993   1994  1995  1996  1997
           1.62   1.63  1.51  1.53  1.48

   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  are  hereby incorporated in the Prospectus by reference
   the  Company's Annual Report on Form 10-K for the  year  ended
   December  31,  1997, heretofore filed with the Securities  and
   Exchange  Commission pursuant to the Securities  Exchange  Act
   of 1934, as amendced, to which reference is hereby made.

Plan of Distribution:

  Merrill  Lynch, Pierce, Fenner & Smith Incorporated  is  acting
  as  agent in connection with the distribution of the notes. The
  Agent  will receive a selling commission equal to 0.25% of  the
  principal amount of the Notes.