PROSPECTUS                 Pricing Supplement No. 2983
Dated January 10, 1995     Dated March 19, 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 Step Down Coupon Notes)

Trade Date:                     March 19, 1997

Settlement Date
(Original Issue Date):          March 24, 1997

Maturity Date:                  March 23, 2012 (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:                  0.125%

Net Proceeds to Issuer:         US$19,975,000

Interest Rate Per Annum:        8.20% for the period from and
                                including March 24, 1997 to but
                                excluding March 23, 1998;
                                thereafter, 7.20% per annum for
                                the period from and including
                                March 23, 1998 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 March 23 and September 23,
       commencing September 23, 1997 (with respect to the period
       from and including March 24, 1997 to but excluding
       September 23, 1997)

Repayment, Redemption and Acceleration:

Initial Redemption Date:  March 23, 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. 2983
                      Dated March 19, 1997
                      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 March 24,
  1997 and will be payable in U.S. dollars semi-annually on March
  23 and September 23 each year, commencing September 23, 1997
  (with respect to the period from and including March 24, 1997 to
  but excluding September 23, 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.  The
  interest rate on the Notes will be equal to 8.20% per annum from
  and including the Original Issue Date up to but excluding March
  23, 1998; thereafter, the interest rate will be adjusted to
  7.20% per annum from and including March 23, 1998 to but
  excluding the Maturity Date or date of earlier redemption.


                       (Fixed Rate Notes)
                           Page 3
                      Pricing Supplement No. 2983
                      Dated March 19, 1997
                      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 March 23, 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.

  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 September 28, 1996, the Company had outstanding indebtedness
   totalling $114.704 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 September 28, 1996 excluding subordinated notes
   payable after one year was equal to $114.007 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    Nine Months Ended
     1991 1992 1993 1994 1995    September 28, 1996
     1.34 1.44 1.62 1.63 1.51        1.56

  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.


                       (Fixed Rate Notes)
                           Page 4
                      Pricing Supplement No. 2983
                      Dated March 19, 1997
                      Rule 424(b)(3)-Registration
                      Statement No. 33-60723

  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, 1995, the Company's Quarterly Reports on Form 10-Q for the
  quarters ended March 30, 1996, June 29, 1996 and September 28,
  1996 and the Company's Form 8-K dated June 28, 1996 heretofore
  filed with the Securities and Exchange Commission pursuant to
  the 1934 Act, to which reference is hereby made.

Plan of Distribution:

  The Notes are being purchased by Goldman, Sachs & Co. (the
  "Underwriter"), as principal, at 100% of the aggregate principal
  amount, less an underwriting discount equal to 0.125% of the
  principal amount of the Notes.

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