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The University is committed to providing employee benefits which support staff in securing living accommodation in and around Cambridge. The Rental Deposit Loan Scheme provides an interest free loan of up to £3,000. This can be used for some of the costs associated with private rental accommodation, such as initial deposit, first month’s rent and other fees.


  • An employee can borrow the equivalent of one month’s net pay, up to a maximum of £3,000, whichever is the lesser amount. Should the loan amount asked for exceed the employee’s net monthly pay, a lesser loan amount will be offered.
  • The loan can be used for privately rented accommodation only; University owned accommodation is outside of the loan scheme.
  • New starters can apply for the loan up to 4 weeks before their start date if they have received a written offer of employment from the University and successfully passed all University right to work checks.
  • The loan is solely for the purpose of the security deposit, first month’s rent and/or any administration fees associated with moving into or between privately rented accommodations.
  • The employee will need to provide evidence to support the loan amount, usually in the form of a tenancy agreement or letter from the estate agency. Once the loan is paid to them, the employee will need to present evidence that the money has been used for its intended purpose, in the form of a receipt.
  • The employee will authorise the University to deduct 10 equal monthly payments directly from their salary.
  • There is no tax or national insurance to pay on the loan amount as long as the loan is paid back within 12 months.
  • If an employee wishes to pay off the loan early, they can do so by contacting the Reward Team on


New and existing employees can apply for the loan, providing that they have:

  • a fixed term employment contract of not less than 12 months remaining
  • a UK bank account
  • proof of how the RDL will be used (e.g. a tenancy agreement)

Further information

Full information about the scheme can be found here.

How do I apply?

If you wish to apply for a Rental Deposit Loan you will need to complete the Rental Deposit Scheme application form (HR55) and send the completed form to the HR Reward Team at