PROSPECTUS                               Pricing Supplement No. 2859
Dated January 10, 1995                   Dated June 27, 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 Down Coupon Notes)

Trade Date:  June 27, 1996

Settlement Date (Original Issue Date):   July 2, 1996

Maturity Date:  July 5, 2011 (subject to earlier redemption, as set
forth below under "Additional Terms-Redemption")

Principal Amount (in Specified Currency):  US$20,000,000

Price to Public (Issue Price):  100.00%

Agent's Discount or Commission:  0.00%

Net Proceeds to Issuer:  US$20,000,000

Interest Rate Per Annum:  9.00% for the period from and including
July 2, 1996 to but excluding July 5, 1997; thereafter, 7.40% per
annum for the period from and including July 5, 1997 up to but
excluding the Maturity Date or date of earlier redemption.

Interest Payment Date(s):

   __      March 15 and September 15 of each year
   X       Other: Semi-Annually on July 5 and January 5, commencing
           January 5, 1997 (with respect to the period from and
           including July 2, 1996 to but excluding January 5, 1997) 

Repayment, Redemption and Acceleration:

Initial Redemption Date:  July 5, 1997, 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. 2859
                                  Dated June 27, 1996
                                  Rule 424(b)(3)-Registration Statement 
                                         No. 33-60723

Form of Notes:

   X  DTC registered
   __ non-DTC registered

Original Issue Discount:

   Amount of OID:  N/A
   Yield to Maturity:  N/A
   Interest Accrual Date:  N/A
   Initial Accrual Period OID:  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 July 2,
   1996 and will be payable in U.S. dollars semi-annually on July
   5 and January 5 each year, commencing January 5, 1997 (with
   respect to the period from and including July 2, 1996 to but
   excluding January 5, 1997) 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 9.00% per annum from and including the
   Original Issue Date up to but excluding July 5, 1997;
   thereafter, the interest rate will be adjusted to 7.40% per
   annum from and including July 5, 1997 to but excluding the
   Maturity Date or date of earlier redemption.


                                       (Fixed Rate Notes)
                                                                       Page 3
                                  Pricing Supplement No. 2859
                                  Dated June 27, 1996
                                  Rule 424(b)(3)-Registration Statement 
                                         No. 33-60723


   Optional Redemption.

   The Company may at its option elect to redeem the Notes in whole
   on July 5, 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.

   General

   At March 30, 1996, the Company had outstanding indebtedness
   totalling $109.096 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 March 30, 1996 excluding subordinated notes
   payable after one year was equal to $108.399 billion.

Plan of Distribution:

   The Notes are being purchased by Lehman Brothers Inc. (the
   "Underwriter"), as principal, at 100% 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.