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Tesco Card Services, a joint venture between Thai supermarket chain Tesco Lotus and GE Money Thailand, reportedly will offer personal loans in Thailand. The scheme would enable consumers to apply for personal loans at Tesco Lotus supermarkets and receive approval within 30 minutes, according to the Bangkok Post newspaper. The loans would carry annual interest rates of 27.5%, the report said. Tesco officials offered no immediate comment to CardLine Global. The firm reportedly hopes to attract 20,000 customers to the personal loan service. Tesco Card Services has issued about 500,000 Visa-branded cards.
