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New Higher Long-Term CD Rates at GE Capital Bank


GE Capital Bank raised its long-term CDs late last week. It has joined the 2% club with two CDs with yields at and above 2.00%: the 5-year CD has a 2.00% APY and the 6-year CD has a 2.05% APY. Minimum deposit is $500, and the maximum deposit is $1 million. These rates are listed in the bank’s CD overview page as of 10/21/2013.

  • 2.05% APY 6-year CD (was 1.65%)
  • 2.00% APY 5-year CD (was 1.90%)
  • 1.60% APY 4-year CD (was 1.40%)
  • 1.25% APY 3-year CD (no change)
  • 1.15% APY 30-month CD (no change)
  • 1.15% APY 2-year CD (no change)
  • 1.10% APY 18-month CD (no change)
  • 1.05% APY 1-year CD (no change)

The early withdrawal penalty is larger than average for these terms. It’s 270 days of interest for terms from 12 to 60 months, and 365 days of interest for terms over 60 months. This is listed in GE Capital Bank’s CD overview page (mouse over the early withdrawal penalties line).

You can choose to have interest added back to your CD or paid out monthly. You can also choose to withdraw interest penalty-free that has been credited to the CD at any time.

Like Ally Bank, they offer a 10-day rate guarantee which guarantees that you get the highest APY in the 10 days from your CD application as long as they receive the CD deposit within those 10 days.

As I described in my first review of this bank, it has a competitive online savings account with a 0.90% APY as of 10/21/2013. This rate has held since June. I also explained in that review how GE Capital Bank is different than GE Capital Retail Bank. They are two separate banks that are both part of the General Electric Company.

The bank has an overall health grade at DepositAccounts.com of A+ with a Texas ratio of 1.38% (excellent) based on June 2013 data. Please refer to our financial overview of GE Capital Bank for more details. The bank has been a FDIC member since 1993 (FDIC Certificate # 33778).

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  |     |   Comment #1
GE Capital Bank's brokered CD rates on Fidelity today:


5 years--1.95%

6 years--2.30%
  |     |   Comment #2
Some tweaking of rates this morning:    
24 Months   1.18%
30 Months   1.20%
3 Years   1.35%
4 Years   1.67%
5 Years   2.01%
  |     |   Comment #3
By the way, the bank gave me the 0.01% extra on the 5-year CD I opened there on Tuesday.  I'd almost forgotten about the 10-day rate guarantee.

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