NBFC bonds are debt instruments issued by Non-Banking Financial Companies — lenders in gold loans, vehicle finance, microfinance, MSME and personal loans. They dominate India's retail bond market: roughly half the bonds listed on online bond platforms are NBFC issues, typically yielding 9–12% depending on credit rating.
Non-Banking Financial Companies (NBFCs) are RBI-regulated lenders that fund loan books — gold loans, vehicle finance, microfinance, MSME and personal loans — partly by issuing bonds and NCDs. They are the largest issuer category on India's online bond platforms: roughly half of listed bonds come from NBFC-sector issuers. This hub groups core NBFCs together with gold-loan, personal-loan, MSME, vehicle-finance, and microfinance lenders, since all are NBFC business models. Yields typically range 9–12% depending on credit rating, with the rating and the lender's loan-book quality being the key variables to understand.
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166 Bonds Found
Sorted by YTM. Not a recommendation.| Issuer | Rating | YTM | Coupon | Maturity | Platforms |
|---|---|---|---|---|---|
| AKARA CAPITAL ADVISORS PRIVATE LIMITED INE08XP07423 | BBB | 14.50% | 12.00% | 10M | 1 |
| AKARA CAPITAL ADVISORS PRIVATE LIMITED INE08XP07498 | BBB | 14.50% | 12.00% | 1.3Y | 1 |
| 12.05 Akara Capital Advisors Private Limited 05 Jun 2029 INE08XP07506 | BBB | 14.50% | 12.05% | 2.9Y | 1 |
| KEERTANA FINSERV INE0NES07303 | BBB+ | 13.85% | 12.00% | 1.8Y | 4 |
| Cyqure India Private Limited INE0Z4807015 | BBB- | 13.75% | — | — | 1 |
| 12.00 Keertana Finserv Limited 22 Sep 2027 INE0NES07329 | BBB+ | 13.55% | 12.00% | 1.2Y | 2 |
| 12.25Indel Money Limited 09 Jun 2032 INE0BUS08047 | A- | 13.06% | 12.25% | 5.9Y | 1 |
| Satin Creditcare Network Limited INE836B08319 | A | 12.79% | 12.00% | 5.0Y | 1 |
| SPANDANA SPHOORTY INE572J07810 | BBB+ | 12.70% | 11.25% | 1.7Y | 1 |
| AKME FINTRADE (INDIA) LIMITED INE916Y07099 | A- | 12.65% | 11.50% | 2.0Y | 1 |
| TAPIR CONSTRUCTIONS INE00DJ07052 | A- | 12.50% | 12.50% | 3.6Y | 1 |
| SATIN CREDITCARE INE836B08327 | A | 12.50% | 12.00% | 5.2Y | 1 |
| UGRO Capital Limited INE583D08081 | A | 12.44% | 11.65% | 4.6Y | 1 |
| Satin Finserv Limited INE03K307165 | A- | 12.30% | 10.75% | 1.9Y | 1 |
| Kanakadurga Finance Limited INE104W07245 | BBB | 12.25% | 11.60% | 1.5Y | 1 |
| Satin Finserv Limited INE03K307140 | A- | 12.20% | 10.50% | 1.7Y | 1 |
| Midland Microfin Limited INE884Q07798 | A- | 12.15% | 10.75% | 1.2Y | 1 |
| SATIN FINSERV INE03K307132 | A- | 12.00% | 10.25% | 1.6Y | 1 |
| ACHIIEVERS FINANCE INDIA LIMITED INE065507BN0 | BBB- | 12.00% | 14.00% | 1.7Y | 1 |
| Finkurve Financial Services Limited INE734I07115 | BBB | 12.00% | 11.33% | 1.9Y | 2 |
| Spandana Sphoorty Financial Limited INE572J07786 | BBB+ | 11.90% | 11.50% | 1.9Y | 1 |
| Midland Microfin Limited INE884Q07822 | A- | 11.90% | 11.70% | 12M | 2 |
| Keertana Finserv Limited INE0NES07220 | BBB+ | 11.75% | — | — | 1 |
| Finnable Credit Private Limited INE14H407116 | BBB+ | 11.75% | 11.00% | 2.1Y | 2 |
| Whizdm Finance Private Limited INE2W9A15011 | AA- | 11.75% | 11.50% | 1.2Y | 1 |
| Annapurna Finance Private Limited INE515Q08283 | A- | 11.67% | 11.75% | 5.7Y | 1 |
| 11.00 Iifl Samasta Finance Limited 18 May 2030 INE413U08093 | AA- | 11.60% | 11.00% | 3.8Y | 1 |
| IFL FINANCE LIMITED INE01XO07074 | BBB | 11.60% | 11.80% | 1.9Y | 1 |
| Kosamattam Finance Limited INE403Q08357 | A | 11.56% | 11.00% | 5.3Y | 1 |
| Namra Finance Limited INE229U07186 | A- | 11.55% | 10.90% | 1.7Y | 3 |
| MUFIN GREEN FINANCE LIMITED INE08KJ07183 | A- | 11.50% | 10.00% | 10M | 1 |
| SLICE SMALL FINANCE BANK LIMITED 2031 INE09B308044 | A | 11.50% | 12.00% | 5.4Y | 2 |
| Indel Money Limited INE0BUS07CJ2 | A- | 11.50% | 11.00% | 2.5Y | 1 |
| UNIGOLD FINANCE LIMITED INE0O7U07020 | BBB | 11.50% | 11.00% | 1.0Y | 1 |
| NAMRA FINANCE INE229U07178 | A- | 11.50% | 11.25% | 2.1Y | 2 |
| ARMAN FINANCIAL SERVICES LIMITED 2028 INE109C07147 | A | 11.45% | 10.90% | 2.2Y | 5 |
| Satin Finserv Limited INE03K307124 | A- | 11.45% | 10.75% | 1.6Y | 1 |
| Indel Money Limited INE0BUS07CK0 | A- | 11.40% | 10.00% | 1.7Y | 1 |
| Indel Money Limited INE0BUS07CN4 | A- | 11.40% | 9.75% | 1.7Y | 1 |
| Credit Wise Capital Private Limited INE0LN107071 | BBB | 11.40% | 11.15% | 1.7Y | 1 |
| EarlySalary Services Private Limited INE01YL07433 | A- | 11.35% | 10.50% | 1.9Y | 2 |
| EarlySalary Services Private Limited INE01YL07458 | A- | 11.25% | 10.50% | 2.0Y | 1 |
| Finnable Credit Private Limited INE14H407074 | BBB+ | 11.25% | 12.25% | 1.9Y | 1 |
| Arman Financial Services Limited INE109C07139 | A- | 11.15% | 11.35% | 2.0Y | 1 |
| Muthoot MCred Limited INE101Q07BX1 | A | 11.10% | 9.30% | 1.9Y | 3 |
| MUTHOOT MCRED INE101Q07BZ6 | A | 11.10% | 9.65% | 2.1Y | 2 |
| MANBA FINANCE LIMITED INE939X07242 | BBB+ | 11.10% | 11.00% | 1.6Y | 1 |
| BEST FINANCE CORPORATION LIMITED INE0D4Z07011 | BBB+ | 11.00% | 10.50% | 8M | 1 |
| Navi Finserv Limited INE342T07684 | A | 11.00% | 10.30% | 1.8Y | 1 |
| NAVI FINSERV LIMITED 2028 INE342T07718 | A | 11.00% | 10.30% | 1.7Y | 4 |
Frequently Asked Questions
What are NBFC bonds?
NBFC bonds and NCDs are debt instruments issued by Non-Banking Financial Companies — RBI-regulated lenders that finance gold loans, vehicles, MSMEs, microfinance, and personal loans. Issuing bonds is one of their main funding sources alongside bank borrowings, which is why NBFCs dominate bond listings on online platforms.
Why do NBFC bonds offer higher yields than bank deposits?
NBFCs cannot accept low-cost retail deposits the way banks do, so they pay market rates for funding. Their bonds also carry issuer credit risk and are not covered by DICGC deposit insurance. The combination produces yields of roughly 9–12% depending on the issuer's credit rating.
How are NBFC bonds different from bank fixed deposits?
A fixed deposit is a bank liability insured by DICGC up to ₹5 lakh per depositor; an NBFC bond is a tradeable market instrument with no deposit insurance, where repayment depends on the issuer's creditworthiness. NBFC bonds typically pay more, and their credit rating, security structure, and the lender's loan-book quality are the key risk indicators.
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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.