GE Capital Bank CD Review

GE capital bankA regular savings account and a money market account are excellent choices for growing your money. But if you’re not getting the desired return from these types of savings products, a certificate of deposit with GE Capital Bank is worth consideration.

A certificate of deposit is a time deposit and one of the safest investment strategies. When compared with a regular savings or money market account, CDs typically offer higher interest rates. And, unlike investing in the stock market, you don’t have to worry about losing your money.

Just about every bank and credit union offers CDs. But that doesn’t mean you should open an account with any random financial institution — you should choose a bank or credit union that will offer you the best rates, the lowest fees and deposit requirements, and the most flexibility possible.

Luckily, savers can find all that and more with a GE Capital Bank CD.

5 Reasons to Open a CD With GE Capital Bank

1. Flexible CD Terms

A GE Capital Bank CD is a top pick regardless of whether you’re saving for short-term or long-term goals. The bank features a multitude of CD terms, ranging from six months to six years.

More from Your Money

2. Competitive Interest Rates

A large majority of savings accounts earn less than 0.10% APY. Certificates of deposit, on the other hand, tend to offer higher yields, and GE Capital Bank CD rates beat the national average and then some. Open an account today and enjoy an impressive rate between 0.70% APY and 2.30% APY, depending on the term.

3. Low Opening Deposit and No Fees

Unfortunately, many banks and credit unions require a minimum deposit of at least $1,000 to open a certificate of deposit. This requirement is too much for some account holders, forcing them to rely on other savings strategies. However, GE Capital Bank only requires a $500 minimum deposit for all of its CDs, allowing you to save as much or as little as you need to (with a maximum cap of $1,000,000).

Additionally, there are no transaction fees at GE Capital Bank.

4. 10-Day Rate Guarantee

Getting the best CD rate is understandably a priority. The higher your rate, the larger the return on your investment. Because bank rates can change without notice, GE Capital Bank offers a 10-day rate guarantee. To put it plainly, you’re guaranteed the best CD rate within 10 days of opening and funding your account. Therefore, if you open an account today at a particular rate and the bank’s CD rates increase within the next 10 days, the bank will pay you the higher APY.

5. Flexible Interest Disbursement

There are multiple ways to receive the interest that your CD earns. GE Capital Bank can credit the interest to the principal balance of your CD each month, or you can choose to credit the interest to one of your other bank accounts. Additionally, you can withdraw any interest credited to your CD penalty-free at any time during the term.

Other CD Features

After a thorough comparison, you might discover that other banks’ CDs don’t compare with the features of a GE Capital Bank CD. In addition to the above features, certificates of deposit are FDIC insured up to $250,000, allowing you to feel confident that your investment is safe.

If you’re ready to get started with a GE Capital Bank CD, visit the bank’s website and open an account today. Simply select the CD product that matches your goals and fund your account.

About the Author

Valencia Higuera

Valencia Higuera is a personal finance expert who enjoys articles on budgeting, saving money and credit cards. She holds a B.A in English from Old Dominion University and currently lives in Chesapeake, Virginia.

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