GE Capital Bank CD Rates
GE Capital Bank is known as an industry leader and provides retail banking services to consumers across the board. From merchants to businesses, GE Capital Bank has the tools and CD rates to suit every customer. All accounts are backed by the financial solidity of this top-rated multinational firm. Coupled with their financial strength, and a 12-month annual yield starting at .85%, this high-yielding CD is a big plus for the company. Be sure to check directly with GE Capital Bank for up-to-date and accurate figures.
In terms of selection, GE offers consumers a wide array of CDs over different maturity dates. Whether you're in the market for a long term CD with a higher APY or shorter term account, you're bound to find one that suits your income and budget.
By far one of the most convenient features is the 24/7 customer service and online account tracking. GE Capital Bank representatives are on hand waiting to help you with any banking related inquiries. You'll never have to worry about the status of your account or CD rates with their around the clock support. Moreover, if you're one of those people who hates filling out applications, you'll also be relieved to know that GE's process is simple and fast. The downside is that they require a minimum balance of $2,000 to open the account. This could pose a bit of a problem for some people but if you have the funds to invest, it's highly recommended to jump on this promotional offer.
The last major concern that's worth addressing is the early withdrawal restrictions. In the event that you encounter an unexpected emergency and need access to your money before the CD term ends, you can withdraw the money. However, you will be assessed an early penalty fee on the amount of the principal which is equal to 3 or 6 months of the interest that's been paid or would have been paid prior to withdrawal. This fee tends to be standard with CD accounts so it's not a deal breaker by any means. Take another look and review GE Capital Bank's pros and cons listed above.
Verdict - Fair
Given the collection of positives and few negatives, GE Capital Bank gets a 5-star rating. It's recommended that you open this account while the CD rates are still high. You'll earn interest at a yield that is highly competitive in today's economic environment, have the security of a world-wide banking leader, plus identity theft protection services.