Most employees are eligible for an interest free season ticket loan to help them purchase an annual travel ticket for use on train or tube when they have completed at 12 months’ service with the Company. The loan can only be used to buy an annual travel ticket for use between your usual home and workplace. Please speak to HR if you would like more information.
Annual Travel Season Ticket loans are made subject to the following conditions:-
The loan will be repayable in 12 monthly deductions from your salary starting on the first salary date after the loan starts; The loan must be repaid by the time your season ticket expires. If you leave the Company, then the total amount of the loan outstanding will immediately become re-payable and the balance will be deducted from your net salary or other monies due to you when you leave.
How to buy your ticket
There are three ways:
1. Purchase the ticket using your Company Credit Card if you have one. Make sure you write “Season Ticket Loan” on your credit card expenses form against the purchase so the Finance Team know.
2. Use your own personal credit card to buy the ticket, then complete a cash expenses form attaching the receipt in order to claim the loan.
3. Ask HR for the loan money to be transferred to your bank account in advance of your buying the ticket.