Set Up An In-Home Workstation to Boost Your Productivity
5 min read | 2 months ago
Despite offices steadily returning to their regular routines and mechanisms throughout India, WFH (work-from-home) is still a preferred option for many employees. A whopping 82% of them prefer this method, with 44% stating that it has improved their mental health. And when it comes to working from home, setting up a good workstation is undoubtedly a priority in order to enhance overall productivity. But how do you arrange funds for the same without depleting your bank account? This is where instant loans online may help. Here’s learning more about how a personal loan can be beneficial for you in this regard, along with some other nuances related to setting up your in-home workstation.
Advantages of Setting Up a Workstation At Home
There are numerous benefits of setting up an in-home workstation, and some of them are listed below for your perusal (we’re sure you will relate to them!):
There are numerous benefits of setting up an in-home workstation, and some of them are listed below for your perusal (we’re sure you will relate to them!):
1.Higher physical comfort while working (you can lounge about in comfortable clothing and can put your feet up and relax whenever you wish, for instance).
2.Better productivity due to familiar backgrounds, routines, tools, and, of course, avoiding unnecessary loss of energy and time in commutes.
3.More flexibility to work whenever you wish and control your time during the day.
4.Improved mental health due to possibilities of being near family members, indulging in hobbies and other pursuits, and simply taking breaks as per your convenience.
5.Flexibility to get work done throughout the day as per your convenient schedule in most cases.
6.Lower transportation/fuel costs.
Now that you have an idea of why in-home workstations have so many advantages, here’s looking at the key overheads that you should include in your budget.
Costs that You Should Budget For
Setting up a home workstation will not be a cheap affair in most cases. You will have to budget for every component that goes into creating this professional space at home. Some of the common overheads may include the following:
1.A powerful and fast laptop/desktop computer
2.Remote working software solutions and
tools
3.A good webcam for meetings along with noise-cancelling headphones
4.Working table with proper storage
5.Stationery, files, and other regular equipment
6.Printers and scanners if required
7.Air conditioning if it is necessary and not present already
8.A comfortable chair with proper ergonomics
9.Wireless internet modem or dongle
10.Additional display screens if they are required
11.Some other decorative items like potted plants, figurines, and others to beautify the space and make it your own
There may be more items added to this list, depending on your specific needs and preferences. Now let’s take a look at how you can use a personal loan to finance them.
How Personal Loans Help Finance Your In-Home Workstation
In most cases, personal loans offer fast approvals, minimal documentation, easy online application procedures, and competitive interest rates, making them popular choices for those looking to raise funds swiftly for various needs.
Here’s how you can finance your in-home workstation with a personal loan.
1.Make a list of items that you will need and their costs.
2.The total cost will be your preferred loan amount.
3.Compare lenders, from NBFCs to Small Finance Banks, on the basis of interest rates, tenures, and other factors.
4.It is a good idea to examine your credit score before submitting the application too (to make sure that it is as close to 750 as possible or even higher).
5.Fill up the online application form with your personal and other details, while uploading documents like your identity and address proof, income proof (bank statements and income tax returns/salary slips/Form 16).
6.The bank will verify your details and sanction the loan after processing.
7.You will then have to go through the terms and conditions carefully before confirming your acceptance of the loan offer and setting up your chosen repayment method.
8.Once all the formalities are complete, the bank will disburse the funds into your account.
A few things to keep in mind include the following:
1.Make sure you apply for only what you need and avoid the temptation to borrow more.
2.Check the monthly EMI for your desired personal loan amount to ensure that you can comfortably repay the same.
3.Have at least 3-4 months’ worth of EMIs in your account to avoid defaults and repayment issues down the line.
4.Always account for processing fees and other charges, which may add to the costs of the loan.
Choose a comfortable tenure that helps you get an optimal EMI amount without paying too much in interest over a long period.
Conclusion
As you can see, setting up a workstation at home is not difficult, provided you utilize funding options like personal loans wisely. Always do your homework before applying and make sure you provide everything that the bank asks for throughout the process. Here’s to enjoying a smooth WFH journey ahead with your new workstation for company!
FAQs
1.What are the tenures for personal loans?
Personal loan tenures vary across banks and financial institutions. They may go up to 3 years or 36 months in many cases.
2.What are the interest rates on personal loans?
Personal loan interest rates vary from one lender to another. For example, Unity Bank offers interest rates between 16-30% per annum, depending on the loan amount, tenure, and several other factors.
3.Can I apply online for personal loans?
Yes, it is possible to apply online for personal loans at the official websites or mobile applications of most lenders.
About Unity Small Finance Bank
Unity Small Finance Bank is committed to making banking simpler and more accessible for everyone. Our services include Savings Account, NRI account, Current Account, Fixed Deposits, and Personal Loans offering flexible tenures and attractive interest rates. We also offer financing options like MSME Loans and Microfinance to support businesses and underserved communities. Learn more about Unity Small Finance Bank here.
