Build Your Home Gym with a Piramal Finance Personal Loan

Going to the gym is something that everyone may want to do. But it may not be easy to do so. Whether you’ve worked all day and are fatigued, have children at home who you can’t leave alone, or despise working out in front of others, it’s simple to find reasons not to go to the gym. 

Exercising, on the other hand, provides several physical and mental advantages. If you don’t have time to go to the gym, you may want to consider purchasing gym equipment. This may vary from a few dumbbells in a room to a full-fledged gym setup. If you can’t afford to pay hundreds, if not thousands, of money for the initial setup of your home gym, Piramal Finance offers personal loans with top-notch benefits.

What Are The Advantages of Having a Home Gym?

There are several advantages to having your gym, including the following:

• Saves Time

You are no longer required to drive to and from an outside institution.

• Customisation

You may have the precise equipment you want and use it in the way you want, without limitations. You may accommodate your personal tastes, be it loud music, television, or complete silence.

• Motivation

When the gym is practically down the hall, you no longer have the excuse of “not enough time.” You may customise your room to create the most relaxing, welcoming home gym setting possible. You don’t have to shower at the gym or travel home in dirty workout clothes since your shower is also just down the hall.

• Free To Go Anytime You Wish

There are no busy periods, closed days, or limits when it comes to exercising. You may proceed at your speed without being concerned about other people using your equipment or alternating sets with someone.

• No More Germs

Hundreds of sweaty people touch the same piece of equipment as you in a commercial gym. With a home gym, only you will have access to your equipment. And, you may clean it as often as you like.

How to Go About Constructing a Home Gym?

• Determine The Equipment Required

Depending on your training needs, your gym might cost anywhere between a few hundred to a couple of lakhs. Make a list of the equipment you need. This may include a treadmill, dumbbell set, stationary cycle, training bench, rowing machine, and so on.

• Find The Best Offers

If you hunt hard enough in this information-driven age, you can always discover the greatest discounts for any kind of item. Take some time to find and finalise the greatest bargains. You might wind up saving a lot of money.

• Create a Monthly Budget

Making and adhering to a monthly budget is a question of monetary resources and effective personal finance management. When you have a large cost coming up for your home gym, you should tighten your belt and redraw your monthly budget. You will therefore generate some excess to manage your EMI and build your dream gym.

• Increase The Tenure

Before applying for a personal loan for your home gym, it is a good idea to utilise a personal loan EMI calculator. It will determine the best term and EMI for you. Your EMI should be manageable and fit inside your monthly budget. It would be best if you chose the longest term available. After six months of loan servicing, you have the option to foreclose the loan with no prepayment penalty.

• Avoid Using a Credit Card

Use a credit card only for scheduled large-ticket purchases. If you do not pay within the credit term, you will wind up paying more than 2.5% each month in interest. On an annual basis, this may amount to an astounding 36%. When it comes to funding scheduled costs, a personal loan is much superior. This is due to the cheaper interest rates.

• Request a Personal Loan

Once you’ve decided on your gym equipment and the lender you want to work with, all you have to do is apply for a personal loan from Piramal finance. Applying for a personal loan is a breeze if you fulfil the qualifying conditions. You must be an Indian resident or citizen over the age of twenty and have a monthly net salary of at least Rs 30,000 to apply for a personal loan.

Getting a Personal Loan From Piramal Finance

All you have to do is submit an online application form and the necessary documents to Piramal Finance:

• PAN Card
• Proof of Residence: Aadhaar Card/Passport/Driving Licence
• Salary slips from the previous three months
• Last six months’ bank statements

Piramal Finance will assess the application using certain lending standards. The loan will be authorised and paid within 24-36 hours if everything checks out.

You may acquire a loan ranging from Rs 50,000 to Rs. 10,00,000 with terms ranging from six months to five years. The annual interest rate begins at 18%. You may choose your repayment arrangement depending on what works best for you.

When applying, you have the option of selecting the longest tenure. After six months of EMI payments, you may prepay the loan in whole or part to minimise your interest payments. No prepayment penalty is charged after six months. You may use whatever you have left over to pay off the debt. A work bonus or raise in salary can also be used.

Personal loans are a straightforward method to pay anticipated needs. They are less expensive than credit cards. There is no requirement for collateral, and the procedure is fairly speedy. You may get a personal loan to pay all the costs associated with establishing a home gym.

Conclusion

Taking care of your health and fitness is a must in today’s busy and stressful world. If you believe that having your home gym would allow you to follow an exercise routine at your leisure, you should create one. This gives you the freedom to avoid crowds and work out when you want and at your own pace. 

If you want to learn more about how to apply for a personal loan online, visit Piramal Finance for related blogs and explore their products and services.