ING Direct brings in bike loans

ING Direct has brought in a salary sacrifice bike loan scheme as part of a drive to get employees to take better care of themselves.

The bank launched the scheme last month, where staff can get 40% off the cost of a new cycle.

Compensation and benefits manager Lorna Benton said: "We operated a health initiative in March called ‘It’s your body we are looking at’. We were trying to encourage people to take a healthier lifestyle."

Employees can choose any bike up to the value of £1,000 and then pay back the loan over 18 months. "If they are able to ride to work from home then they are eligible to join the scheme," she added.

The company already runs a borrow-a-bike-for-lunch scheme, which allows staff to cycle in their lunch break, free of charge.