# The Credit Unions (Maximum Interest Rate on Loans) Order 2013, Note: Explanatory note


(This note is not part of the Order)
This Order increases the limit on the interest which a credit union may charge on loans made by it under the Credit Unions Act 1979 (c.34) from 2% to 3% per month.
An impact assessment has not been produced for this instrument as no impact on the costs of business or the voluntary sector is foreseen.

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Source: https://www.legislation.gov.uk/uksi/2013/2589/note (the official version)
Page: https://openlegislation.uk/credit-unions-maximum-interest-rate-on-loans-order-2013/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.