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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156 Bonds Found
Sorted by YTM. Not a recommendation.| Issuer | Rating | YTM | Coupon | Maturity | Platforms |
|---|---|---|---|---|---|
| 12.00Akara Capital Advisors Private Limited 07 Nov 2027 INE08XP07498 | BBB | 14.80% | 12.00% | 1.4Y | 1 |
| KEERTANA FINSERV INE0NES07329 | BBB+ | 13.85% | 12.00% | 1.3Y | 3 |
| Avanti Finance Private Limited INE0BNQ07154 | BBB | 13.50% | — | — | 1 |
| Kanakadurga Finance Limited INE104W07229 | BBB | 13.30% | 11.55% | 1.5Y | 1 |
| Spandana Sphoorty Financial Limited INE572J07810 | BBB+ | 12.90% | 11.25% | 1.9Y | 3 |
| Keertana Finserv Private Limited INE0NES07170 | BBB+ | 12.80% | — | — | 1 |
| TAPIR CONSTRUCTIONS INE00DJ07052 | A- | 12.80% | 12.50% | 3.7Y | 1 |
| Satin Creditcare Network Limited INE836B08319 | A | 12.79% | 12.00% | 5.1Y | 1 |
| Dar Credit & Capital Ltd. INE04Q907090 | BBB- | 12.70% | — | — | 1 |
| Midland Microfin Limited INE884Q07822 | BBB+ | 12.70% | 11.70% | 1.0Y | 2 |
| 11.65 Ugro Capital Limited 15 Mar 2031 INE583D08081 | A+ | 12.44% | 11.65% | 4.8Y | 1 |
| Akme Fintrade Limited INE916Y07032 | A- | 12.40% | — | — | 1 |
| SATIN FINSERV INE03K307116 | A- | 12.10% | 10.75% | 1.7Y | 1 |
| SATIN FINSERV INE03K307132 | A- | 12.10% | 10.25% | 1.8Y | 1 |
| Indel Money Limited INE0BUS07CI4 | A | 12.02% | 11.75% | 4.6Y | 1 |
| Kanakadurga Finance Limited INE104W07260 | BBB | 12.00% | 11.00% | 1.0Y | 1 |
| Finnable Credit Private Limited INE14H407116 | BBB+ | 11.85% | 11.00% | 2.2Y | 2 |
| INDEL MONEY INE0BUS07CL8 | A- | 11.80% | 10.50% | 2.8Y | 2 |
| Arman Financial Services Limited INE109C07139 | A- | 11.75% | 11.35% | 2.1Y | 3 |
| Annapurna Finance Private Limited INE515Q08283 | A- | 11.68% | 11.75% | 5.8Y | 1 |
| Kosamattam Finance Limited INE403Q08357 | A | 11.67% | 11.00% | 5.4Y | 1 |
| 11.00 Iifl Samasta Finance Limited 18 May 2030 INE413U08093 | AA- | 11.64% | 11.00% | 3.9Y | 1 |
| Indel Money Limited INE0BUS07CJ2 | A- | 11.60% | 11.00% | 2.6Y | 1 |
| ARMAN FINANCIAL SERVICES LIMITED 2028 INE109C07147 | A | 11.55% | 10.90% | 2.3Y | 6 |
| Satin Finserv Limited INE03K307124 | A- | 11.50% | 10.75% | 1.7Y | 1 |
| NAMRA FINANCE INE229U07178 | A- | 11.50% | 11.25% | 2.2Y | 2 |
| IFL FINANCE LIMITED INE01XO07066 | BBB | 11.50% | 11.75% | 1.9Y | 1 |
| 12.00 Slice Small Finance Bank Limited 17 Dec 2031 INE09B308044 | BBB | 11.50% | 12.00% | 5.5Y | 2 |
| Finnable Credit Private Limited INE14H407074 | BBB+ | 11.50% | 12.25% | 2.0Y | 1 |
| Shalibhadra Finance Limited INE861D07018 | BBB- | 11.50% | 12.00% | 1.8Y | 1 |
| Indel Money Limited INE0BUS07CK0 | A- | 11.45% | 10.00% | 1.8Y | 1 |
| Credit Wise Capital Private Limited INE0LN107071 | BBB | 11.40% | 11.15% | 1.9Y | 1 |
| Satin Creditcare Network Limited INE836B07915 | A | 11.39% | 10.00% | 1.6Y | 2 |
| IFL FINANCE LIMITED INE01XO07041 | BBB | 11.30% | 11.80% | 1.7Y | 1 |
| NAMRA FINANCE LIMITED 2028 INE229U07186 | A | 11.30% | 10.90% | 1.9Y | 4 |
| EARLYSALARY SERVICES PRIVATE LIMITED INE01YL07409 | A- | 11.25% | 10.70% | 1.6Y | 2 |
| EarlySalary Services Private Limited INE01YL07417 | A- | 11.25% | 10.50% | 1.7Y | 3 |
| PROGFIN PRIVATE LIMITED INE0MYJ07179 | BBB+ | 11.25% | 11.00% | 1.1Y | 1 |
| Finkurve Financial Services Limited INE734I07073 | BBB | 11.25% | 11.16% | 1.4Y | 1 |
| Finkurve Financial Services Limited INE734I07099 | BBB | 11.25% | 11.16% | 1.5Y | 1 |
| MIDLAND MICROFIN LIMITED INE884Q07863 | A- | 11.25% | 12.00% | 1.2Y | 1 |
| Shri Ram Finance Corporation Private Limited INE08E807159 | A | 11.20% | 9.90% | 2.6Y | 1 |
| EarlySalary Services Private Limited INE01YL07433 | A- | 11.15% | 10.50% | 2.0Y | 1 |
| Navi Finserv Limited INE342T07635 | A | 11.15% | 10.30% | 1.3Y | 3 |
| NAVI FINSERV INE342T07668 | A | 11.15% | 10.75% | 2.6Y | 3 |
| MUTHOOT MCRED LIMITED INE101Q07BX1 | A | 11.10% | 9.30% | 2.0Y | 1 |
| MUTHOOT MCRED LIMITED 25/Aug/2028 INE101Q07BZ6 | A | 11.10% | 9.65% | 2.2Y | 3 |
| Navi Finserv Limited INE342T07601 | A | 11.10% | 10.75% | 2.2Y | 2 |
| Satin Creditcare Network Limited INE836B07907 | A | 11.05% | 10.15% | 2.1Y | 2 |
| EARLYSALARY(FIBE) INE01YL07441 | A- | 11.03% | 10.50% | 2.1Y | 2 |
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.