:PROSPECTUS                Pricing Supplement No. 1954
Dated April 1, 1994        Dated August 8, 1994
PROSPECTUS SUPPLEMENT      Rule 424(b)(3)-Registration Statement
                                No. 33-50909
Dated April 1, 1994

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

Series:  A X    B __   C __

Principal Amount:  US$25,000,000

Trade Date:  August 8, 1994

Settlement Date (Original Issue Date):  August 30, 1994

Maturity Date:  August 30, 2004 (unless earlier redeemed as
       described under "Additional Terms--Optional Redemption"
       below).
       
Price to Public (Issue Price):  100%

Agent's Discount or Commission:  0.000%

Net Proceeds to Issuer (in Specified Currency):  US$25,000,000

Interest:

  Interest Rate:  The Notes will pay interest at the rate of 7.50%
       for the period from the original issue date up to but
       excluding the second Interest Payment Date scheduled to
       occur on August 30, 1995; thereafter, the interest rate on
       the Notes will reset annually on each August 30 in
       accordance with the schedule set forth under "Additional
       Terms--Interest" below. 

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

  Interest Payment Dates:  Each August 30 and February 28,
       commencing on February 28, 1995 up to and including the
       Maturity Date unless earlier redeemed.  See "Additional
       Terms--Interest" below.



POTENTIAL PURCHASERS OF THE NOTES ARE URGED TO READ THIS PRICING
SUPPLEMENT THOROUGHLY TOGETHER WITH THE ACCOMPANYING PROSPECTUS AND
PROSPECTUS SUPPLEMENT EACH DATED APRIL 1, 1994. 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


                (Redeemable Step Up Coupon Notes)
                                                       Page 2
                       Pricing Supplement No. 1954 
                       Dated August 8, 1994
                       Rule 424(b)(3)-Registration Statement
                                No. 33-50909




Repayment, Redemption and Acceleration:

  Optional Repayment Date:  Not applicable
  Initial Redemption Date:  August 30, 1995
       (See  "Additional Terms--Redemption" below)
  Initial Redemption Percentage:  100%

  Interest Payment Dates:  Each August 30 and February 28,
       commencing on February 28, 1995 up to and including the
       Maturity Date unless earlier redeemed.  See "Additional
       Terms--Interest" below.

Form of Notes:  X DTC registered        __ non-DTC registered

Original Issue Discount

  Amount of OID:  N/A
  Interest Accrual Date:  N/A
  Yield to Maturity:  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 August 30, 1994 and will
  be payable in U.S. dollars semiannually on each August 30 and
  February 28, commencing February 28, 1995 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 



                (Redeemable Step Up Coupon Notes)
                                                       Page 3
                       Pricing Supplement No. 1954 
                       Dated August 8, 1994
                       Rule 424(b)(3)-Registration Statement
                                No. 33-50909




  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 7.500% per annum
  from and including the Original Issue Date up to but excluding
  August 30, 1995.  Thereafter, the interest rate will be subject
  to adjustment annually on each August 30 in accordance with the
  following schedule:

          Interest Period                     Interest Rate

     August 30, 1995 to August 29, 1996      7.600% per annum
     August 30, 1996 to August 29, 1997      7.700% per annum
     August 30, 1997 to August 29, 1998      7.800% per annum
     August 30, 1998 to August 29, 1999      8.000% per annum
     August 30, 1999 to August 29, 2000      8.100% per annum
     August 30, 2000 to August 29, 2001      8.200% per annum
     August 30, 2001 to August 29, 2002      8.350% per annum
     August 30, 2002 to August 29, 2003      9.000% per annum
     August 30, 2003 to August 29, 2004     10.250% per annum

  The amount of interest payable on each Interest Payment Date
  will be computed on the basis of a 360 day year consisting of
  twelve (12) thirty (30) day months.

  Optional Redemption.

  The Company may at its option elect to redeem the Notes on
  August 30, 1995 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.


                (Redeemable Step Up Coupon Notes)
                                                       Page 4
                       Pricing Supplement No. 1954 
                       Dated August 8, 1994
                       Rule 424(b)(3)-Registration Statement
                                No. 33-50909




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.    

Plan of Distribution:

  The Notes are being purchased by Goldman Sachs & Co.
  (hereinafter referred to as the "Underwriter") as principal at
  a purchase price of 100% of the aggregate principal amount of
  the Notes.  The net proceeds to the Corporation will be 100% of
  the 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.