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Get Finance your Home Gym with Instant Personal Loan

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Health and fitness are trending topics these days. It is also befitting for this fast-moving world to keep a check on its fitness. The memberships for the gyms are increasing by leaps and bounds and new start-ups for online gym training are coming up every other month. If you go once through your entire Instagram feed, it is hard to not see someone posing with a new photo from a gym or stating about weight loss.

However, we all know how a normal plan for the gym goes by. We get excited at first and take up the subscription for a 3-month or a 6-month plan. With the time the excitation starts to fade away. We start finding excuses to leave home in the morning or get too tired after a long and tiring day to head for the gym in the night. Slowly and gradually we start missing the sessions to a point where we don’t even feel guilty about it. All this happens while your money is already with the gym owner. We all have faced this situation. What is the way out of it?

The answer is pretty simple. Start at your home. You can gradually and eventually build a small gym at your home which caters to all your needs. It can also, at later stages, be utilized to train a small bunch of people or to make videos for YouTube. You can easily get an instant personal loan to buy all the equipment for your home gym. With the advent of great financial institutions in India, like Fullerton India, it is very easy to get a personal loan for all your small needs.

Advantages of Home Gym

It is also very economical to build a gym at your home. To start with, it saves the time required to drive and get to your nearest gym which is an added effort. The initial cost of buying all the equipment might seem high but in the long run it will save a lot of money for you. The savings on the gym subscriptions will make you break even in a very short amount of time. You can always take a personal loan to cover for the initial cost and then pay it back in easy instalments. You can check for great deals on the internet and also calculate the EMIs by using an online personal loan EMI calculator.

If you look at the bigger picture, the same set-up can be used by all your family members. Hence, the savings start to look pretty impressive. All the subscriptions costs that your family members would have to pay individually can be covered by the initial investment of setting up a home gym. Just take a personal loan to bear the cost and once you are done with your instalments, you will have a life-long gym at your home which you can use as per your comfort and at your own discretion.

The basic set-up for a gym does not require a lot of equipment and can be easily done by doing a basic research online. The cost is also not that high and is nothing that a small personal loan can’t cover up for. Following is a list of basic equipment which should be enough to set-up your home gym.

Basic Gym Equipment:

  • Dumbbells: Starting from Rs. 500
  • Barbell: Starting from Rs. 8,000
  • Weight plates: Starting from Rs. 1,000
  • Treadmill: Starting from Rs. 13,000.
  • Multi-station: Around Rs. 40,000.
  • Rubber floor mats: Around Rs. 6,000 – Rs. 10,000.
  • Bosu: Starting from Rs. 3,500.
  • Medicine balls: Starting from Rs. 500.
  • Resistance Bands: Starting from Rs. 500.
  • Ankle weights: Starts from Rs. 500
  • Flat bench: Starting from Rs. 2,500

Total cost of setting-up a basic home gym: Approximately Rs. 1 lakh

Finance your Home Gym

Now that you know the advantages and the initial cost required to set up a home gym, the next step should be planning how to get the capital to fund it. You can easily get an instant personal loan to fund this plan. Getting a personal loan is a great way to cover up for this initial cost and repay it back in easy instalments. Following are some of the advantages of taking a personal loan for setting up your home gym.

1. Rate of Interest: Since the amount of loan is small, the EMIs will not be something you can’t afford and surely much economical than the collective cost of gym subscriptions for your entire family.

2. Tenure of Repayment: Financial institutions allow for flexible and longer duration of repayment allowing you to adjust your paying capacity.

3. Easy Processing: Taking a personal loan is not as tedious as it used to be a few years ago. The entire process is digitised and if your documents are found in order, then you can get the loan in the next 48 hours.

Hence, getting finance for your home gym is a great decision for you, both for your financial and physical health.

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Finance

What You Need To know About Gold Finance

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gold finance

A gold loan is one of the types of secured loan that you can get as collateral with a lender by pledging gold ornaments or NBFCs. In exchange, the lender will give you a loan sum depending upon your gold’s market value. And your gold is returned after you have finished repaying the loan sum and interest post your chosen term.

Let us understand the various aspects of gold loans and how it can help you meet your financial requirements.

Type of gold forms you can pledge:

You can pledge gold ornaments in both banks & NBFCs, and the purity of gold or gold value will decide the principal loan amount. Remember that banks do not allow gold finance for gold bars, coins, or bullions and opt for jewellery instead. 

How to avail a loan for gold?

The financial institutions will measure the gold’s purity when you take the gold to a lender and inform you of the loan sum you can borrow. The amount can be up to 75 per cent of the gold value, as per RBI guidelines. Additionally, as per the bank’s rules, the borrower must pay a transaction fee to avail the gold loan. A borrower can also use the gold loan calculator to know the loan amount, tenure, interest rate, etc.

Gold safety:

With an unlicensed bank or NBFC, there is a high risk of misplacing or swapping your gold jewellery. That is why applying for gold finance from a reputable lender is advisable and preferred. You don’t have to think about protecting your gold with a popular and trustworthy lender, as it’s locked in a vault. 

Documentation:

As a borrower, you need to submit the below documents to avail gold finance:

  1. Passport photo
  2. Identity proof(passport, driver’s license, Aadhar card)
  3. Address proof(electricity bills, phone bills, smart card etc.)

Qualification:

Any Indian national above eighteen years of age can apply for a gold loan with a bank/NBFC. One of the prerequisites would be to visit the lender’s website and understand the terms and conditions before applying for a gold loan. By that way, you can also use the gold loan calculator available on the website to know the details of the loan. 

Processing time:

The digital age had made the loan processing more comfortable for the gold lenders to disburse the loan amount directly to the borrower once the lender assesses the gold purity and verifies the documents. 

Rate of interest:

Note that the interest rate on gold loans is comparatively lower than those of credit card loans, mutual fund loans, personal loans, etc. NBFCs are in particular flexible with interest rates on gold finance to the borrowers with better qualifying criteria. Usually, the interest rates on gold loans will increase with the increase in the principal amount. 

Tenure/repayment phase:

Bullet schemes allow you the right to repay any amount at any point during the tenure of the loan. You can also opt to repay the principal sum and interest in several instalments. It gives the facility to repay monthly interest and repay the principal balance amount during closure according to your convenience. There are also part payment and part withdrawal facilities by paying the appropriate sum. There are multiple variants of bullet systems designed to suit the cash cycles and needs of different consumer groups, and you can select one that suits you the best. 

Additional charges/fees:

Some of the costs you might incur would be the extra charges like processing fees, pre-closure charges and valuation fees. To look fair on the surface, some lenders may not report these costs. Hence while you use the gold loan calculator to know the loan details, you also might want to know about such additional charges.

Missing the repayment phase:

As a borrower, you must consider your repayment potential before applying for a gold loan. In the unfortunate circumstances of default, the lender has the right to sell your gold to recover the remaining loan sum.

Conclusion:

Gold loans are one of the most common forms of lending instruments that can help the borrowers meet their urgent financial requirements. However, the borrower must look out for the best lenders in the market before finalizing the lending partner. 

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Finance

Benefits Of Personal Loan To Repay Debt

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A personal loan is one of the most user-friendly financial products available in the market. The main advantage of a personal loan is that you can use it for any purpose. Unlike other loans, which have a specifically defined end-use, personal loans give you the freedom to use the funds in whichever way you deem fit.

The personal loans segment has also steadily increased in India. Owing to this, many banks and NBFCs have entered the segment. The healthy competition among them has ensured that the customers get lower interest rates and attractive deals. It has even led to simpler documentation and faster disbursal.

Personal loans now even have a higher approval rate as the financial institutions have improved their processes and relaxed their rules. The advancement in technology has also ensured that consumers can apply for a personal loan online.

If you are caught in debt, a personal loan may relieve you of your financial stress. Generally, we approach and borrow from our friends or family to settle our debt. However, that may not be the best practice. A personal loan gives you higher financial freedom without hampering your relationship with them.

Below are a few advantages of using a personal loan to pay off your debt

  • Convenience

    A. When you apply for a personal loan, you can decide on your monthly payout. Based on your eligibility, you can decide on the principal amount you wish to borrow. Scourge the market for the lowest interest rate on offer. This way you can decide on an affordable and low EMI.

    B. There is no collateral involved while applying for a personal loan. In the present digital era, you can even apply for a loan online without having to step out of your home.

  • Obligation
    A. Further, in case you miss out on paying any monthly installment, it will just add up to your loan amount. Compared to an embarrassing situation of explaining your default to a friend or family, this is a more convenient option.

    B. The obligation of a personal loan is fixed. Your monthly EMI, which is convenient, and affordable to you, is chosen by you. Unlike borrowing from a person wherein you have to work out a deal keeping in mind their relationship with you.

  • Consolidated debt

    A. If you have too many high-interest loans, opting for a personal loan with lower interest will be economically more beneficial. It will help consolidate all your debt. Thus, you will only have a single loan outstanding with a comparatively cheaper rate.

You can pay off your entire debt, and you will be left with only a personal loan. As you have decided on your EMI, it will not be a strain for you.

B. It will also help improve your credit score. Further, it will help you manage your monthly expenses and leave you with enough cash regularly.

  • Credit Card Debts
    A. A credit card is a form of unsecured loan. Hence, they will have a high-interest component. Credit cards are an extremely useful and attractive option. However, they need to be used with certain discipline and care. Further, failing to pay your outstanding on the due date of your bill may even lead to extra charges such as late payment and processing fees.

    B. In case you are caught up in a credit card bill outstanding, it will keep piling on more interest. To avoid this situation, you can apply for a personal loan and pay off your credit card bill outstanding. This way you would have a low-interest debt that will take care of any high-interest loans and additional fees.

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Why Accounting is Important for Students

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Accounting-Important-For-the-Students

What is Accounting?

Accounting helps students to determine how much money they plan to save for the unpredictable costs of the study and how money can be produced for certain types of expenses. Accounting allows students to solve their financial difficulties in this way. The Accounting course may be seen as learning-to-learn practice and as a key part of business education. Accounting methods are vital as a key part of the data processing device, Managerial Accounting Assignment Help, offering deeply important data about an enterprise’s prior knowledge. The purpose of accounting is to offer insight into the key consequences of effective management decisions.

Accounting is, therefore, the key process of recording financial transactions intended for a business. The key objective of accounting education is to help the students to develop highly professional accountants. The teacher must often mix philosophy with the key practice and show the course contact with non-accounting courses. One of the easiest ways of investing in education may be to try a career as an accountant. Graduate students have all too frequently celebrated their achievements of achieving their bachelors, masters, or even Ph.D. degrees without understanding either or not the degree for which they have worked so hard would return their investment.

Why Accounting Is Important?

Accounting is the basis of business in many respects. Its purpose is to monitor a business’s finances, from debits, credits, and profitability to payroll and tax filing, in their various forms. It is a field guided by empirical and analytical perceptions and offers a company with a record of its financial success and wellbeing with the knowledge obtained from such functions. In both the long and short term, financial results from this information may guide an organization’s strategies. In the accounting industry, there are main occupations that work together to drive an organization towards long-term constancy.

For instance, accountants are generally charged with studying financial reports to confirm consistency and to recognize financial inadequacies, and they are often usually tasked with monitoring the research of corporate taxes. Controllers frequently manage the accounting department, from the key departments to business expenses like accounts payable to secondary accounts such as payroll. Henceforth, Chief Financial Officer (or CFO) is an executive responsible for monitoring the financial health of an organization and using the data to plan current and potential growth strategies.

Accounting obtains the details needed at a high level to make critical economic choices. To see what is going on for the business, what requires improvement, and whether they are on track to profit, corporate executives can look at many different financial reports. Using this data, managers will determine the places to prioritize and where to use extra money in the future. Accountants also inspect and supervise internal problems such as fraud and excessive spending and are eligible to save money for corporations while being in accordance with regulatory regulations.

Accountants Have a Better Understanding of Finances

Accounting is an effective course to study for various reasons. Accounting offers students with knowledge and skills that are applied to many industries. In addition, accountants will thus be needed as long as there are many corporations in the world. Accountants obtain the sort of experience many individuals can pay for after years of learning the art of controlling money. Having an accounting degree provides a wide variety of expertise to students beyond financial management and reporting; the accounting programme also involves fiscal and monetary policy, market and tax law, financial analysis, the study of spreadsheets, management, banking and finance supervisory skills. Such skills are important to every job career, and this suggests that employers will benefit greatly from job applicants who have these skill sets. Other occupations, like fund managers, financial planners, banking professionals, and others, may also apply accounting skills.

The Growing Demand for Accountants

There are no assurances that anyone can land a job after they have completed their degree, as previously described, but it is worth mentioning that the demand for accountants is incredibly consistent. It is thus considered to be a major driving force of the economy because accounting involves handling capital. To control its finances, any organization requires at least one accounting professional; in some instances, large companies will hire accounting departments with lots of staff at companies around the country. It is fair to say that the market for accountants will grow in the 21st century and even beyond.

The Ability to Start Your Own Business

It is not unusual for accounting professionals to become businessmen; this often happens after many years of on-the-job experience while accountants have created a good amount of key business contacts. After many years of networking, accountants often feel more comfortable using the connections they’ve established to begin their own company. The options are limitless when it comes to financial services, consulting or specializing in tax accounting and representation.

Create Budget and Future Projections

In running a business effectively, accounting plays an essential role as it helps you to regulate expenses and sales, ensure statutory execution, as well as offer quantitative financial data to management, investors, and government that is being used in the entire business decision-making. Budgeting and key future predictions may create or break a business, and while it comes to it, the financial records may play an essential role. To keep the business activities profitable, market forecasts and patterns are focused on ancient financial data. When given by well-structured accounting systems, thus this financial information is most suitable.

Conclusion

In conclusion, accounting is a good career option for students. Accountants play a stable rate of employment rather than fluctuations in the economy. Although accounting professionals gain decent compensation for their better services. Due to many reasons, accounting is the perfect key course in the study. Accounting provides key expertise and information for students that may often be applied to a variety of industries. In reality, finance essay writing service, accountants will thus be vital as long as there are companies throughout the globe. The easiest way to kick-start the profession is to get an accounting degree, but before students decide to start training, it’s worth noting the main.

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