Buying Fitness Equipment on EMI: Cycles, Wearables and More

Many individuals now prioritise their health, and having the right exercise equipment at home makes it easier to stick to a healthy routine. Purchasing cycles, wearables, and other exercise equipment is now more affordable because of EMI options. It enables you to invest in your health without breaking the bank. 

Let’s understand how buying fitness equipment on EMI works and why it can be beneficial.

Factors to Consider Before Buying Any Fitness Equipment 
 

Before you decide to buy fitness equipment, here are some factors that you need to consider: 

●    Determine Your Budget
First, you need to decide on your budget. You need to be sure about the overall amount you need to spend on your fitness equipment.

●    Know About Your Fitness Goals
You need to be clear about your fitness goals, whether you want to lose weight, shape your body, or achieve flexibility. This will help you in choosing the right equipment.

●    Space and Size
Measure the space you plan to allocate for fitness equipment to ensure it fits comfortably.

●    Focus on Quality
When buying gym equipment, quality should be your top priority. Choose high-quality machines and gear, as they are more durable and long-lasting.

How can a Short-term Personal Loan Help to Buy Fitness Equipment

Fitness bands, heart rate monitors, and smartwatches are examples of wearable fitness equipment that can be costly. Exercise equipment can also be expensive, including elliptical trainers, treadmills, cycles, dumbbells, flat benches, and rowing machines. Some borrowers may not be able to make the entire payment up front. They can buy this equipment with simple monthly instalments using a Short-term Personal Loan (STPL).

Applying online or through a branch is convenient because STPLs have simple and easy qualifying requirements. The loan amount is credited to the borrower's account after approval. This allows borrowers to promote a healthy lifestyle without breaking the bank by purchasing wearables and exercise gear.

Benefits of a Short-term Personal Loan

STPLs come with a number of benefits, which are as follows: -

●    Easy to Obtain
Getting STPLs is very easy. The loan is sanctioned based on your income and credit score. Hence, it is sanctioned quickly with minimal documentation.

●    Flexible Tenure
Personal Loans offer a flexible tenure option. You can decide the tenure as per your convenience, which can be between 12 and 84 months.

●    Affordable Interest Rates
Competitive interest rates on instant Personal Loans make it easier to repay the loan balance without straining your finances. This enables you to buy wearables or exercise equipment and pay for them in affordable monthly instalments.

●    No Collateral Required
This is one of the major reasons why people buy fitness equipment on EMI. You don’t have to pledge any of your assets as collateral to avail instant personal loan.

●    No Hidden Charges
The majority of instant loans carry prepayment fees, processing fees, and other expenses. When purchasing your exercise equipment, you can efficiently manage your budget and avoid unforeseen costs, as there are no hidden fees.

Applying for an Instant Personal Loan for Fitness Equipment

Here is how you can plan for a Short-term Personal Loan to buy fitness equipment: -

●    Decide on the Equipment
First, you need to decide which equipment you want to buy. Depending on your fitness goals, you can decide on the equipment.

●    Check Various Loan Offers
Various banks and NBFCs offer Short-term Personal Loans at affordable interest rates. Check and compare various offers.

●    Initiate Application Process
Once you’ve selected a lender, start the application process. Most lenders now offer online applications, allowing you to submit your basic details conveniently.

●    Submit the Documents
After initiating your application, submit the necessary documents online (such as KYC documents, income proof, employment proof, bank statements, etc) as per the lender’s requirements.

●    Loan Disbursement
The lender will verify your documents and other details. If everything is in order, the loan amount will be disbursed to your account. It can then be used for purchasing your fitness equipment.

To Conclude

From treadmills and dumbbells to floor mats and flat benches, you can buy a wide range of fitness equipment with a Short-term Personal Loan. These loans are easy to obtain and come with attractive interest rates. Before applying, compare offers from different lenders to choose the best option for your needs.

Planning to buy fitness equipment? If so, connect with Poonawalla Fincorp for an instant personal loan at affordable interest rates. You can apply online and receive the funds quickly for a hassle-free purchase.

Read Also: Reasons for Loan Rejection: Key Causes and Smart Ways to Avoid Them in 2026

FAQs

How do I calculate interest rates on Short-term Personal Loans?
Interest rates on STPLs are set by lenders based on factors such as your credit score, repayment capacity, existing liabilities, etc. However, you can use the EMI calculator to calculate how different interest rates affect your monthly payments.

Can I know how much EMI I will need to pay to buy gym equipment through STPL?
You can get a rough estimate of the EMI amount through an online EMI calculator.

Can I buy a treadmill on EMI?          
Yes, you can buy a treadmill online on EMI by availing a Short-term Personal Loan from banks or NBFCs. It allows you to pay in easy monthly instalments without straining your budget.

Does buying fitness machines on loan affect my credit score?
Yes, buying fitness machines on loan can impact your credit score. If you pay the EMI on time, then it will improve your credit score. However, if you miss the payment, then it will negatively affect your credit score.

Does Short-term Personal Loan offer flexible tenure?
Yes, Short-term Personal Loans offer flexible tenure. You can decide on the tenure at your convenience. It can range from 1 to 5 years.