7.46% GOI 2073
SovereignGovernment of India- Time to maturity
- 47 yr 2 mo
- Interest paid
- Half-yearly
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 7.55%
Fixed income
You are lending to companies and governments, on terms you can read in full
A bond is a loan you make, with the interest rate, the payment dates and the repayment date all written down before you commit. Below is every bond currently available through Zenith, grouped from the safest to the highest yielding, with the terms in full rather than a headline rate.
- On the list
- 22 bonds
- Priced
- 04 Aug 2026
- Payouts
- Monthly to annual
- Held in
- Your own demat
Bonds are facilitated via our partner Motilal Oswal Financial Services Ltd (SEBI Reg INZ000158836). Yields shown are indicative and subject to availability at the time of dealing. Zenith Wealth is a distributor and never holds your money or your securities.
The mental model
How a bond actually pays you
You hand over a fixed amount, you receive interest on stated dates, and your principal comes back on a stated date. Four things, and everything further down this page is a variation on them.
01
You lend a fixed amount
You buy a quantity of the bond at its market price. That amount is the loan. The smallest amount a seller will break a lot for is shown on every card as the minimum.
02
Interest arrives on a stated frequency
Monthly, quarterly, half yearly or once a year. The rate printed in the bond's name is its coupon, the rate the issuer promised when the bond was first sold.
03
The principal returns on a stated date
That date is the maturity. Some bonds return principal in instalments instead, called amortising, and some can be repaid early by the issuer on a call date. Both are labelled on the card.
04
A rating agency gives its opinion
CRISIL, ICRA, CARE, Acuité, Infomerics or India Ratings publish a grade, AAA down to BBB within investment grade, on how likely the issuer is to pay. It is their opinion, not a guarantee, and never ours.
7.46% GOI 2073, paying semi-annual. Each thin mark is an interest payment; the tall one is your principal coming back. Showing the first five years.
Purchase
Five years in
One interest paymentPrincipal repaid
The list
What is available this week
Four groups, ordered safest first. The highest yields on this page sit in the last group because they carry the highest chance of not being paid, and that is the only reason they pay more.
Priced 04 Aug 2026. This sheet is replaced weekly: a bond that leaves the sheet leaves this page.
This sheet is 23 days old and these yields have almost certainly moved. Ask the desk for the current one before acting on anything below.
22 of 22 shown
Government Securities
3Repayment here is the Government of India's own obligation, so the yield is payment for time and for rate movement, not for credit risk.
6.90% GOI 2065
SovereignGovernment of India- Time to maturity
- 38 yr 7 mo
- Interest paid
- Half-yearly
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 7.45%
6.76% GOI 2061
SovereignGovernment of India- Time to maturity
- 34 yr 5 mo
- Interest paid
- Half-yearly
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 7.45%
State Guaranteed Bonds
2The step up over a central government bond pays you for a state government guarantee rather than a central one, and for a thinner market if you want out early.
9.30% KERALA INFRASTRUCTURE INVESTMENT FUND BOARD 2033
AA (CE)India Ratings & Acuité- Time to maturity
- 6 yr 4 mo
- Interest paid
- Quarterly
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 8.75%
9.67% KERALA INFRASTRUCTURE INVESTMENT FUND BOARD 2029
AA (CE)India Ratings & Acuité- Time to maturity
- 2 yr 11 mo
- Interest paid
- Quarterly
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 8.30%
High Rated Offers (AAA and AA)
4Company credit risk enters here, at the top of the rating scale. The extra yield over sovereign is the price of that risk, low but real.
9.25% HINDUJA LEYLAND FINANCE LTD 2031
AA+CRISIL- Time to maturity
- 4 yr 10 mo
- Interest paid
- Annually
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 9.23%
9.15% MUTHOOT FINCORP LIMITED 2028
AACRISIL- Time to maturity
- 2 yr 2 mo
- Interest paid
- Annually
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 8.85%
8.50% GODREJ FINANCE LTD 2036
AA+CRISIL- Time to maturity
- 9 yr 8 mo
- Interest paid
- Annually
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 8.30%
8.52% MUTHOOT FINANCE LTD 2031
AA+CRISIL- Time to maturity
- 4 yr 7 mo
- Interest paid
- Annually
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 8.30%
High Yielding Private Bonds
13These are the largest numbers on this page because they carry the largest chance of not being paid. They sit last in this list for that reason.
13% REGENCY FINCORP LIMITED 2029
BBBIVR- Time to maturity
- 2 yr 5 mo
- Interest paid
- Monthly
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 13.78%
11.75% MANGAL CREDIT AND FINCORP LIMITED 2028
BBBCRISIL- Time to maturity
- 2 yr
- Interest paid
- Monthly
- Minimum investment
- ₹5.00 L
- Yield to maturity
- 12.40%
11.6500% UGRO CAPITAL LTD 2031
A+India Ratings- Time to maturity
- 4 yr 8 mo
- Interest paid
- Monthly
- Minimum investment
- ₹10.00 L
- Yield to maturity
- 12.35%
12% SLICE SMALL FINANCE BANK LTD. 2031
BBB+Acuité- Time to maturity
- 5 yr 3 mo
- Interest paid
- Monthly
- Minimum investment
- ₹5.00 L
- Yield to maturity
- 12.35%
12% RDC CONCRETE INDIA LTD 2028
A-Acuité- Time to maturity
- 1 yr 7 mo
- Interest paid
- Monthly
- Minimum investment
- ₹5.00 L
- Yield to maturity
- 11.80%
Limited quantum: available, but not much of it, so confirm before counting on it.
10.30% NAVI FINSERV 2028
ACRISIL- Time to maturity
- 1 yr 9 mo
- Interest paid
- Monthly
- Minimum investment
- ₹5.00 L
- Yield to maturity
- 10.50%
9.75% B.N. AGRITECH 2028
AAcuité- Time to maturity
- 2 yr 3 mo
- Interest paid
- Quarterly
- Minimum investment
- ₹5.00 L
- Yield to maturity
- 10.50%
10% DISHMAN CARBOGEN AMCIS LTD 2027
AIndia Ratings- Time to maturity
- 1 yr 3 mo
- Interest paid
- Quarterly
- Minimum investment
- ₹5.00 L
- Yield to maturity
- 10.25%
10.40% MUTHOOT FINCORP LTD 2033
AACRISIL- Time to maturity
- 7 yr 4 mo
- Interest paid
- Monthly
- Minimum investment
- ₹5.00 L
- Yield to maturity
- 10.20%
10.25% PATEL ENGINEERING LTD. 2027
AIVR- Time to maturity
- 11 mo
- Interest paid
- Monthly
- Minimum investment
- ₹5.00 L
- Yield to call
- 9.12%
9.00% IKF FINANCE LTD 2029
AA-India Ratings- Time to maturity
- 2 yr 11 mo
- Interest paid
- Quarterly
- Minimum investment
- ₹5.00 L
- Yield to maturity
- 9.00%
8.90% ADANI ENTERPRISES LTD 2031
AA-CARE & ICRA- Time to maturity
- 4 yr 4 mo
- Interest paid
- Annually
- Minimum investment
- ₹5.00 L
- Yield to maturity
- 8.60%
Limited quantum: available, but not much of it, so confirm before counting on it.
8.45% ADANI AIRPORT HOLDINGS LIMITED 2029
AA-India Ratings- Time to maturity
- 2 yr 5 mo
- Interest paid
- Quarterly
- Minimum investment
- ₹5.00 L
- Yield to maturity
- 8.43%
Ratings shown are reproduced from the named agency and are that agency's opinion on the issuer's ability to pay. They are not Zenith Wealth's assessment, they are not a guarantee, and they can be revised at any time. (CE) means the rating relies on a credit enhancement such as a state government guarantee. Yields are indicative, gross of tax, and subject to availability at the time of dealing.
Arithmetic, not a projection
What would this pay me?
Pick an amount and a bond from the list. What follows is the interest per payout, how many payouts there are, and what comes back by the end, set beside the same money in a fixed deposit.
₹
- Rating
- Sovereign, Government of India
- Yield to maturity
- 7.55%
- Interest paid
- Half-yearly
- Held for
- 47 yr 2 mo
This bond’s smallest available lot is ₹10.00 L, so the figures beside this are indicative only until a seller agrees to break a lot.
Each payout
₹18,650
Number of payouts
94
Interest in total
₹17.53 L
- 27 Feb 2027₹18,650
- 27 Aug 2027₹18,650
- 27 Feb 2028₹18,650
- 27 Aug 2028₹18,650
- 27 Feb 2029₹18,650
- 27 Aug 2029₹18,650
- and 88 more, to 06 Nov 2073
The same money in a fixed deposit, for comparison
This bond returns
₹22.53 L
Fixed deposit returns
₹20.92 L
Difference
+₹1.61 L
A bank fixed deposit at 6.75% over the same 47 yr 2 mo, simple interest on both sides so the two are comparable. A deposit is insured to ₹5 lakh per bank by DICGC and a bond is not, which is most of what the difference is paying you for. Both figures are gross of tax, and bond interest is taxed at your slab rate.
The comparison uses a representative large-bank rate for a comparable tenor, 6.75% as on 04 Aug 2026. Figures are arithmetic on each bond’s stated terms, not a projection: nothing is compounded, no reinvestment rate is assumed, and no market movement is forecast. They are indicative and not an assurance of any outcome.
Read this before the numbers persuade you
What can go wrong
Four ways a bond disappoints its holder. Every yield on this page is the market’s price for one or more of them, which is why the highest number sits with the lowest rating.
The issuer may not pay
Credit risk. If the company misses a coupon or fails to repay, there is no deposit insurance behind it. Recovery, if any, runs through a legal process that takes years and rarely returns the full amount.
A downgrade, say AA to A, is the agency saying that chance has risen. The bond's market price falls immediately even though nothing has been missed yet.
Rates move, and prices move against them
Interest rate risk. If new bonds start paying more than yours, yours is worth less to a buyer, because they can get the better rate elsewhere. When rates fall, the reverse happens.
Hold to maturity and this does not touch your coupons. Sell early and it decides your price. Longer bonds move far more than short ones.
You may not be able to sell
Liquidity risk. Most corporate bonds in India trade rarely. Selling means finding a buyer at a price you accept, and on a small holding of a lower rated bond there may be no buyer that week at all.
Treat the maturity date as the date you get your money, and buy an amount you will not need before it.
Interest is taxed at your slab rate
Coupon income is added to your total income and taxed at your slab, like fixed deposit interest. At the 30% slab a 13% coupon nets closer to 9%, so compare bonds with deposits after tax rather than before.
If you sell a listed bond after twelve months, the gain on the price is taxed as a long term capital gain instead. Confirm your own position with your chartered accountant.
The process
How buying one actually works
- 1
You say what you are looking for
Amount, how long you can leave it, and whether you want monthly or quarterly interest. That is enough to narrow the sheet.
- 2
Zenith sends the current sheet
With live prices, because these yields move weekly, and the terms of each bond in full so you can read them before deciding anything.
- 3
The trade settles through Motilal Oswal
You pay from your own bank account to the broker, Motilal Oswal Financial Services Ltd (SEBI Reg INZ000158836). Never to Zenith.
- 4
The bond arrives in your own demat
Held in your name, visible in your own CDSL or NSDL statement. Interest is credited by the issuer straight to your bank account.
Zenith Wealth never holds your money and never holds your securities. It is an AMFI-registered distributor, ARN-331900, and it is paid a distribution fee by the broker, not by you.
Ten things people ask first
A deposit is a contract with a bank and is insured up to ₹5 lakh per bank by DICGC. A bond is a loan to a company or a government, with no insurance behind it, a market price that moves, and interest that is usually higher because you are carrying the issuer's credit risk yourself.
You become a creditor. Secured bondholders have a claim on specific assets and rank ahead of shareholders, but recovery runs through the NCLT or a debenture trustee, takes years, and is often partial. There is no insurance and no government backstop for corporate bonds, which is exactly what a low rating is warning about.
Sometimes. These are listed, so a sale is possible in principle, but most corporate bonds in India trade rarely and a small holding in a lower rated bond may find no buyer in a given week. Plan on holding to maturity and treat an early sale as a bonus rather than an exit route.
AAA is the agency's view that capacity to pay is highest; BBB is the lowest rung still considered investment grade and means adequate rather than strong capacity. Each step down is a step up in the chance of not being paid, which is why yield rises as the letters fall. The grade is the agency's opinion, not ours, and it can be revised.
It varies by bond and it is shown on every card. Most sit at ₹5 lakh or ₹10 lakh because that is the smallest lot a seller will break, and a few government securities are smaller. If your amount is below a bond's lot size the page says so rather than quietly showing you a figure you cannot act on.
Coupon income is added to your total income and taxed at your slab rate, the same as fixed deposit interest, and TDS may apply. If you sell a listed bond after twelve months the gain on the price is taxed as a long term capital gain instead. Confirm your own position with your chartered accountant.
The principal comes back in instalments on stated dates rather than all at once at the end. Your money returns gradually, which lowers the amount at risk over time, and it also means the later interest payments are smaller because they are calculated on what is still outstanding. Every amortising bond on this page shows its schedule.
It lets the issuer repay early on a stated date. Where a bond has one, the yield shown is a yield to call rather than a yield to maturity, and it assumes the issuer exercises an option it is not obliged to exercise. If the bond is not called, it runs on to its longer maturity date instead.
Yes. They are held in your name and appear in your own CDSL or NSDL statement, and interest is credited by the issuer directly to your bank account. Money moves from your bank account to the broker, Motilal Oswal. Zenith never holds your money or your securities at any point.
Because publishing one would be a recommendation on a specific security, which needs a registration Zenith does not hold. The list is grouped from safest to highest yielding and filtered by what you tell it, so the ordering reflects credit quality rather than our opinion. For a shortlist suited to your own situation, speak with the desk.
Next step
Send us the numbers you just worked out
A message, not a form and not a checkout. Tell us the amount and how long you can leave it, and you will get this week’s sheet with the terms in full.
Related
PMS, AIF, bonds (primary and secondary), NCDs, term insurance and health insurance products are facilitated via our partner Motilal Oswal Financial Services Ltd (SEBI Reg INZ000158836). Zenith Wealth acts as a referral and distribution partner; product issuance, custody and execution are by Motilal Oswal.