Take a personal loan to build your private gym

5 MinsOct 1, 2021

Abhijit, 45, is an executive in a private sector company. Over the last two decades, he was busy climbing up the corporate ladder at work. In the process, he ignored his health. But last year, he decided to join a gym near his office to work out regularly.

help 4x7 personal loan

Unfortunately for Abhijit, soon after he had paid the annual membership, the Covid-19 pandemic broke out. Due to the repeated lockdowns and his company switching to work from home, Abhijit could never really follow up on his resolve to exercise and get fit. That is why he has now decided to set up a gym at home and hired a Personal trainer online. He hopes his newfound discipline will be a way of life for him and his family members.

Since his house has a spare room, Abhijit need not stick to buying just some weights and dumbbells, but he can get good use out of the equipment for his home gym. 

His list includes a high-end bicycle for those days he wants to venture out with his friends and colleagues, a treadmill, a rowing machine, and a multi-station. Besides, equipment like dumbbells of different weights, an Olympic barbell, weight plates to rack onto the barbell, a flat bench, a Bosu ball, rubber floor mats, cross trainer, ankle weights and clamps. 
Abhijit found all the equipment online and this is what the cost works out to:

  • Bicycle– a basic one starts at around Rs. 6,000 and a good one could cost up to Rs. 25,00,000
  • Treadmill – From Rs. 16,000 to Rs. 40,000
  • Rowing Machine – Rs. 15,000 – Rs. 60,000
  • Multi-Station – Rs. 15,000 – Rs. 1 lakh
  • Dumbbells: Starts from Rs. 400. Pairs of different sizes will cost you around Rs. 2,500.
  • Olympic barbell: Starts from Rs. 9,000.
  • Weight plates: Starts from Rs. 1,000. Pairs of different weights will cost you around Rs. 5,000.
  • Rubber floor Mats: Around Rs. 6,000 – Rs. 10,000.
  • Bosu: Rs. 3,500.
  • Cross Trainer: Rs. 12,000 onwards
  • Ankle weights: From Rs. 500
  • Flat bench: Rs. 2,500

Abhijit also decided to include an oxygen concentrator costing about Rs. 60,000 to his wish list. After all, the Covid pandemic has not fully abated, and he feels having a concentrator at home as a standby is a good precaution.

If like Abhijit, you are also thinking of setting up a home gym, don't worry about the costs. Set one up in your house easily with 24x7 Personal Loans.

Here’s how a personal loan can help:

Easy to get: You can easily apply for and get a personal loan. The loan is sanctioned based on your salary statements and credit score. Since there is no collateral for the loan, it is sanctioned quickly and processed with minimum documentation.

Fully digital process:  You can apply online through the bank’s website or mobile app. For instance, Axis Bank offers 24x7 Personal Loans, which are entirely digital. The application is processed and sanctioned online. Once approved, the money is seamlessly credited to your account. All documents are uploaded digitally, and the KYC is also done digitally through verification of your Aadhaar number. Alternatively, you can request a call back by clicking here and our representative will get in touch with you to personally assist for all your needs step-by-step.

Competitive interest rates: You can get a personal loan at competitive interest rates, if you have a high credit score, i.e., above 700. Special offers on loans above Rs. 10 lakh for a limited period.

Easy to repay:  You can log in to Axis Mobile and Internet Banking>Loans>Personal Loan where you have the flexibility to choose the loan amount and tenure and understand the EMI for your loan. Repaying your loan on time, without any delay will also help improve your credit score. This will prove beneficial in future when you may need to take a higher-ticket loan.

Axis Bank offers a range of personal loans tailored to your needs. So don’t sweat over the costs. Instead, sweat out in your home gym and get healthy!

Disclaimer: The Source, a content creation and curation firm have authored this article. Axis Bank does not influence the views of the author in any way. Axis Bank and The Source shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision. T&C Apply.