What Types of Accounts Does GE Capital Bank Offer?


Quick Answer

As of 2015, GE Capital Bank offers two types of savings accounts: online savings and certificates of deposit. Each of these accounts has a different annual percentage yield and features; both types of accounts are FDIC-insured. The bank allows visitors to open a savings account online.

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Full Answer

Opening an online savings account requires no minimum deposit, and the account has no transaction fees. Account owners receive daily compound interest, paid monthly. The rate is variable and may change at any time. There is a six-withdrawal limit per each statement cycle and a maximum deposit of $1,000,000. The online withdrawal limit per transaction is $125,000.

Opening a certificate of deposit account requires a $500 minimum deposit; the account features a 10-day certificate of deposit rate guarantee and has a term of six months to six years. Account holders may opt for a monthly interest disbursement. The maximum account balance is $1,000,000. There are penalties for making early withdrawals before maturity.

Customers can transfer funds from their accounts to other external accounts online and may use the bank's automated phone access system for checking account balances. Account holders who want to make wire transfers must contact GE Capital Bank directly to complete the transaction.

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