GE Capital Bank provides a variety of financial services, including both short- and long-term savings products. GE Capital Bank is classified as an industrial bank and insures all of its customers' accounts with the Federal Deposit Insurance Corporation up to the maximum insurable amount.Continue Reading
As of 2015, GE Capital Bank offers two savings products, which are Online Savings and Certificates of Deposit. The Online Savings product is a short-term savings product that pays interest on a monthly basis. This product has a 1.05 percent annual interest rate yield and does not require a minimum deposit to open. Online Savings accounts are also limited to a maximum deposit amount of $1,000,000.
Certificates of Deposit are long-term financial investment products that have a 2 percent annual percentage yield. These certificates are set with investment terms that require funds to stay in the account for between six months to six years. Customers who try to withdraw their investment in this product before the end of their term can face early withdrawal penalties.
The balance in GE Capital Bank's deposit accounts are used to fund the company's commercial leases and loans. These loans and leases are used to finance customers ranging from small to medium-sized business in various industries, including transportation, construction, franchises and health care.Learn more about Banks