Buy a bike

Interest free bike loan scheme

You can borrow up to £650 (six hundred and fifty) interest free to buy a bike and any bike accessories you may need. 

To be eligible, you must:

  • be a permanent Essex County Council (ECC) employee and have passed your probation
  • have a valid ECC staff ID card
  • use your bike to get to work

How the scheme works

The entire loan amount must be used to buy the bike and accessories. You can use this loan towards a bike of a higher value.

You will be charged monthly instalments over 12 months.

You do not have to pay tax on loans of less than £5,000 (five thousand).  If you have any other loans, for example a season ticket loan, they will be added together to work out the taxable amount. So make sure you consider this before applying.

Your pension contributions will not be affected.

If you leave before repaying the whole of the loan, you will need to pay back any outstanding loan payments.

If you use your own bike for business travel, you can claim 20 pence per mile by submitting an expenses claim in My Oracle.

Apply

You can apply for the loan in My Oracle. See the My Oracle Hub for guidance on how to apply for an interest free bike loan.

You will need to upload a copy of the receipt to My Oracle within 10 days of purchase.

Contact the Travel Plan team

You can contact the Travel Plan team by:

 

 

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