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TRAVEL LOAN SCHEME

Valuable all round

The costs of commuting by public transport and car parking only ever seem to go one way - up! Paying by the day, week or month is also usually more expensive than paying up front for an annual season ticket – but your employees often don’t have the luxury of being able to make such a big one-off payment.

With our travel loan scheme, you can help them reduce the price, spread the cost, and reduce the hassle of their commute.

Valuable to you

  • Flexible and tailored – you can choose how much and over how long
  • Managed online so admin-light
  • A really worthwhile benefit, it can increase your employees' engagement

Valuable to your employees

  • Savings of up to 20% on the cost of their travel
  • Interest-free payments, with no credit checks
  • Spread the cost over the length of the loan
  • No more queuing for tickets or searching for loose change
  • Use the ticket for out-of-work travel too (depending on the travel provider’s terms and conditions)

Important note From a tax perspective employees are allowed to borrow up to £10,000 tax-free from their employer in a single tax year. Additional borrowing over the £10,000 threshold will be taxable. Additional loans may include rental loans and study loans.