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Thailand Government Savings Bank to offer new consumer loan option.
Byline: Wichit Chantanusornsiri
Oct. 2--The Government Savings Bank plans to launch a "quick cash" consumer finance product next year as part of a broader state campaign aimed at clamping down on usurious underground lending.
Varathep Ratanakorn, the deputy finance minister, said that the product would give borrowers an emergency credit line of up to 10,000 baht per person, at interest rates equal to normal rates charged by the GSB.
"This will help combat the problems of loan sharks, some of whom charge interest rates as high as 20 percent per day to borrowers," he said.
Hundreds of thousands of people nationwide have registered for ...
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Source: HighBeam Research, Thailand Government Savings Bank to offer new consumer loan option.