AA-rated bonds carry the second-highest credit rating tier from SEBI-registered agencies like CRISIL, ICRA, and CARE — defined by the agencies as a high degree of safety regarding timely debt servicing, one notch below AAA. In India, AA-tier bonds (AA+, AA, AA-) typically yield 8–10%, modestly above comparable AAA bonds.
AA is the second-highest credit rating tier on the Indian scale, covering AA+, AA, and AA-. Rating agencies such as CRISIL, ICRA, CARE, and India Ratings define AA as a high degree of safety regarding timely servicing of financial obligations — one notch below AAA. AA-rated issuers are typically large, established companies and NBFCs with strong balance sheets. Yields usually sit 0.5–1.5% above comparable AAA bonds, reflecting the incremental credit risk. Ratings are reviewed periodically and can move up or down with issuer fundamentals.
Explore interactively on Compare pageBond calculators
56 Bonds Found
Sorted by YTM. Not a recommendation.| Issuer | Rating | YTM | Coupon | Maturity | Platforms |
|---|---|---|---|---|---|
| Whizdm Finance Private Limited INE2W9A15011 | AA- | 11.75% | 11.50% | 1.2Y | 1 |
| 11.00 Iifl Samasta Finance Limited 18 May 2030 INE413U08093 | AA- | 11.60% | 11.00% | 3.8Y | 1 |
| MUTHOOT FINCORP INE549K08590 | AA | 10.50% | 10.40% | 7.4Y | 2 |
| IIFL SAMASTA FINANCE LIMITED INE413U07442 | AA- | 10.50% | 9.25% | 2.4Y | 1 |
| IIFL SAMASTA INE413U07434 | AA- | 10.50% | 9.65% | 2.1Y | 2 |
| IIFL Samasta Finance Limited INE413U07467 | AA | 10.48% | 9.25% | 3.0Y | 1 |
| IIFL SAMASTA FINANCE LIMITED INE413U07459 | AA- | 10.25% | 9.20% | 1.5Y | 1 |
| MUTHOOT MICROFIN LIMITED INE046W07339 | AA- | 10.25% | 9.70% | 1.3Y | 1 |
| Muthoot Fincorp Limited INE549K08632 | AA | 10.00% | 10.26% | 5.4Y | 1 |
| MUTHOOT CAPITAL SERVICES LIMITED INE296G07218 | AA- | 10.00% | 10.00% | 4M | 1 |
| MUTHOOT MICROFIN LIMITED INE046W07289 | AA- | 10.00% | 9.80% | 1.1Y | 1 |
| MUTHOOT FINCORP LIMITED INE549K07GX3 | AA | 9.75% | 9.05% | 2.0Y | 1 |
| Muthoot Capital Services Limited INE296G07325 | AA- | 9.60% | 9.25% | 1.9Y | 2 |
| IKF Finance Limited INE859C07238 | AA- | 9.55% | 9.80% | 1.2Y | 2 |
| IIFL Samasta Finance Ltd INE413U07210 | AA- | 9.50% | 10.00% | 4M | 1 |
| Incred Financial Services Limited INE321N07699 | AA- | 9.40% | 8.80% | 1.9Y | 1 |
| IKF Home Finance Limited INE02VP08022 | AA- | 9.35% | — | — | 1 |
| INCRED FINANCIAL SERVICES LIMITED INE321N07590 | AA- | 9.30% | 8.80% | 1.4Y | 1 |
| Asirvad Micro Finance Limited INE516Q07481 | AA | 9.25% | 9.10% | 1.8Y | 1 |
| INCRED FINANCIAL SERVICES LIMITED INE321N07632 | AA- | 9.25% | 8.60% | 1.6Y | 1 |
| IKF FINANCE LIMITED INE859C07253 | AA- | 9.20% | 8.50% | 1.6Y | 1 |
| MUTHOOT FINCORP LIMITED INE549K07HQ5 | AA | 9.15% | 8.75% | 2.6Y | 1 |
| MUTHOOT FINCORP LIMITED INE549K07HD3 | AA | 9.15% | 8.80% | 2.4Y | 1 |
| MUTHOOT FINCORP LIMITED INE549K07HB7 | AA | 9.15% | 8.85% | 2.3Y | 1 |
| MUTHOOT FINCORP LIMITED INE549K07GZ8 | AA | 9.15% | 9.40% | 2.0Y | 1 |
| MAS Financial Services Limited INE348L07381 | AA- | 9.10% | 8.70% | 1.9Y | 1 |
| CreditAccess Grameen Limited INE741K07611 | AA- | 9.00% | 9.25% | 1.9Y | 1 |
| KERALA INFRA. INE658F08532 | AA | 9.00% | 9.30% | 7.5Y | 1 |
| IIFL FINANCE LIMITED INE530B07658 | AA | 9.00% | 8.37% | 1.6Y | 1 |
| Piramal Finance Limited (formerly Piramal Capital& Housing Finance Limited) INE516Y07444 | AA+ | 9.00% | 6.75% | 5.2Y | 1 |
| CAPRI GLOBAL CAPITAL LIMITED INE180C07304 | AA | 9.00% | 8.80% | 2.8Y | 1 |
| Sammaan Capital Limited INE148I07UE9 | AA+ | 9.00% | 9.90% | 1.2Y | 1 |
| Hinduja Leyland Finance Limited INE146O08415 | AA+ | 9.00% | 9.30% | 6.4Y | 1 |
| Arka Fincap Limited INE03W107249 | AA | 9.00% | 9.65% | 6M | 1 |
| IIFL Finance Limited INE530B07617 | AA | 8.80% | 8.70% | 1.6Y | 1 |
| IndoStar Capital Finance Limited INE896L07967 | AA- | 8.75% | 9.95% | 3M | 1 |
| CREDITACCESS GRAMEEN LIMITED INE741K07579 | AA- | 8.75% | 9.70% | 2.1Y | 1 |
| ANDHRA PRADESH STATE BEVERAGES CORPORATION LIMITED INE0M2307362 | AA | 8.53% | 9.15% | 5M | 1 |
| Adani Enterprises Limited INE423A07534 | AA- | 8.50% | 8.75% | 2.5Y | 2 |
| Adani Enterprises Limited INE423A07500 | AA- | 8.50% | 8.60% | 1.5Y | 1 |
| Adani Enterprises Limited INE423A07484 | AA- | 8.50% | 8.60% | 1.5Y | 1 |
| MAS Financial Services Limited INE348L07241 | AA- | 8.50% | — | — | 1 |
| AP STATE BEVERAGES INE0M2307347 | AA | 8.40% | 9.15% | 6.3Y | 1 |
| Hero Fincorp Limited INE957N08201 | AA+ | 8.35% | 9.10% | 9.5Y | 1 |
| HERO FINCORP LIMITED INE957N08045 | AA+ | 8.25% | 9.81% | 2.3Y | 1 |
| Hyderabad Metropoloitan Development Authority INE2T2Q07188 | AA+ | 8.25% | 8.50% | 3.9Y | 1 |
| Cholamandalam Investment And Finance Company Limited INE121A08PP7 | AA+ | 8.25% | 9.10% | 4.9Y | 2 |
| THE ANDHRA PRADESH MINERAL DEVELOPMENT CORPORATION LIMITED INE0TLC07069 | AA | 8.00% | 9.30% | 2.8Y | 1 |
| Manappuram Finance Limited INE522D07CK1 | AA | 7.75% | 8.60% | 1.7Y | 1 |
| Svatantra Microfin Private Limited INE140R08080 | AA | 7.00% | 10.55% | 3M | 1 |
Frequently Asked Questions
What does an AA rating mean for bonds?
AA is the second-highest credit rating tier assigned by SEBI-registered agencies like CRISIL, ICRA, and CARE. The agencies define it as a high degree of safety regarding timely servicing of financial obligations. AA+, AA, and AA- are notches within the tier — credit risk is higher than AAA but lower than the A and BBB tiers.
How do AA bond yields compare with AAA bonds and fixed deposits?
AA-tier bonds in India typically yield 8–10%, roughly 0.5–1.5% above AAA bonds of similar tenure and above most bank fixed deposit rates. The spread compensates for incremental credit risk. Post-tax outcomes depend on your income tax slab, so comparisons are most meaningful on a post-tax basis.
What risks remain in AA-rated bonds?
AA-rated bonds still carry credit risk (ratings can be downgraded), interest-rate risk (prices fall when rates rise), liquidity risk, and reinvestment risk. A rating is an opinion at a point in time, not a guarantee — reading the rating rationale and outlook published by the agency adds useful context.
Explore More
Data is for informational purposes only. BondDekho is not SEBI-registered and does not provide investment advice. Bond yields and ratings are subject to change. Verify details on respective platforms before investing. Sorted by Yield to Maturity. Not a recommendation.