Finance

How it works

How the interest-free bike loan scheme works.

The interest-free bike loan scheme provides University employees with an interest-free loan for the cost of the purchase of a bicycle/motorbike and associated safety equipment (clothing and lights) up to a limit of £500. The loan must be re-paid in 10 equal monthly installments directly from the employees net salary.

The interest-free bike loan scheme should not be confused with the University's Cycle to Work scheme.

Staff wishing to purchase a bike and safety equipment can make significant savings by joining the Cycle to Work scheme.

Please note that you cannot purchase a motorbike through the scheme.

More Information on Cycle to Work