Q:

What are the requirements for a GE capital loan?

A:

Quick Answer

To apply for a GE capital loan, applicants are required to present their employment details, amounts owed on loans or debts and their living expenses. GE Capital offers commercial lending and leasing as well as a wide range of financial solutions in real estate, aviation and health care, as reported by the Financial Stability Oversight Council. It is the financial services unit of the American conglomerate General Electric.

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Full Answer

To apply for a GE Capital Personal Loan, one must be over the age of 18, currently earning an annual gross income of at least $24,000, be a permanent resident of the company's country of operation, not have been declared bankrupt for the last seven years or more and have a good credit history for the last five years.

The personal loan is a fixed term and fixed rate product. An establishment fee of no more than $250 and a monthly account fee of at least $13 is required when taking out the credit contract, as stated on GE Capital's website.

The subsidiaries of the GE Capital operate under the GE Money brand and are subject to oversight by the Federal Reserve. United States and most countries in Europe are main areas of operation of the company. In 2013, GE Capital was designated as a systemically important financial institution by the Financial Stability Oversight Council.

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