EARLYSALARY SERVICES PRIVATE LIMITED

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Invest in Midland Microfin Ltd.

Earn up to 12.85% p.a.

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Unveiling the Golden Experience, Crafted for you!

25K+ already in the waitlist

Join Now

Invest in Midland Microfin Ltd.

Earn up to 12.85% p.a.

Invest Now

Unveiling the Golden Experience, Crafted for you!

25K+ already in the waitlist

Join Now

Invest in Midland Microfin Ltd.

Earn up to 12.85% p.a.

Invest Now

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Returns (YTM)

11.1%

Min. Investment

₹ 1,00,083.07

Remaining Tenure

1Y 10M 24Days

Payment Terms

Monthly

Highlights

Credit Rating

CARE A-/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

Comfortable Capitalisation - As on Sep’25, Fibe’s net worth is ~ INR 1100 Crs with comfortable leverage of 2.67x

Backed by Marquee PE investors - TPG, Norwest, Eight Roads and Piramal Capital

Strong Parent Co. Support: Fibe’s parent company, Social Worth Tech Private Limited has demonstrated strong commitment to EarlySalary by infusing over ₹850 crore of equity over last 3 years and has announced plans to raise ~ INR 1500 Crs via IPO

Company Financials

PAT

AUM

Net Worth

Cash & Cash Eq.

Important disclaimer

Ratio Analysis

0.55

Net NPA

Good

Benchmark: Lower than 3%

1.83

Gross NPA

Good

Benchmark: Lower than 5%

27.5

Capital Adequacy Ratio

Good

Benchmark: Minimum 14%

2.67

Debt to Equity Ratio

Good

Benchmark: Maximum 12 times

Important disclaimer

About Issuer

incorporated in 2015, Early Salary Private Limited (“Fibe”) is a CARE A- (stable) rated systemically important NBFC registered with RBI. Fibe offers unsecured personal loans of 6 - 24 Months to young professionals with a ticket size of of up to ?5 Lakh via its digital platform and serves 10+ lakh borrowers across India.

Fibe is a 100% owned subsidiary of Social Worth Technologies Private Limited which is backed by strong PE investors such as TPG, Norwest, Eight Roads and Piramal Capital and has ?850 crore of equity over last 3 years and has announced plans to raise ~ INR 1500 Crs via IPO

As of Sep’25, Fibe had an AUM of INR 5800+ Crs. with networth of INR 1110 Crs and a leverage of of 2.67x

Total Annual Revenue

Rs 1033.03 Cr (FY - 2025)

Year of Inception

2017

Industry

NBFC Retail

Head Office

PUNE

Type of Issuer

Corporate

Current MD/CEO

Mr. Vimal Saboo

Credit Rating / Outlook

A- STABLE

CARE

Rating Rationale

Rating Date: 04-Nov-2025

Credit rating by different rating agencies indicates the bond issuer’s ability to repay its debt obligations. A bond can be rated by one or more SEBI registered credit rating agencies e.g. CRISIL, CARE, ICRA, IND, BWR, ACUITE, INFOMERICS.
Bonds/NCDs with A credit rating are considered to have an adequate degree of safety regarding timely servicing of debt obligations. Such Bonds/NCDs carry low credit risk.
Stable Outlook suggests that the rating is unlikely to change significantly in the near to medium term, indicating a stable credit profile of the issuer.

Other Important Details & Disclosures

Issuer Name

EARLYSALARY SERVICES PRIVATE LIMITED

Security Name

10.5% EARLYSALARY SERVICES PRIVATE LIMITED Secured Rated Listed NCD Maturity 9-Mar-2028

ISIN

Copy

INE01YL07417

Face Value

₹ 1,00,000

Issued FV

₹ 1,00,000

Coupon Rate

10.5%

Coupon Type

FIXED

Payment Terms

Monthly

Maturity Date

9-Mar-2028

Clean Price

₹ 99.88

Dirty Price

₹ 100.08

Current Yield

10.5124%

Yield to Maturity

11.0973%

Mode of Issue

Private Placement

Date of Issue

31-Dec-2025

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Vardhaman Trusteeship Private Limited

The Capital, A Wing, 412A, Bandra Kurla Complex, Bandra (East), Mumbai-400051

Registrar Details

MUFG Intime India Private Limited (formerly known as Link Intime Pvt Ltd.)

Embassy C 101, 247 Park, LBS Marg, Vikhroli West,Mumbai 400083

Looking For More Information ?

Download Prospectus

Taxation

10%

TDS on Interest Income*

*Given TDS is indicative and fully claimable while filing ITR. The interest income from this bond will be taxable and will appear in the additional source of income in your ITR. Please consult your tax advisor for precise taxation details
As a listed bond, it is subject to capital gains tax based on the holding period. A holding period of less than 1 year qualifies as short-term, while more than 1 year qualifies as long-term.
You can submit your Form 15G/15H to the registrar and debenture trustee of the bond to avoid the TDS deduction. Download Form

Registrar details: MUFG Intime India Private Limited (formerly known as Link Intime Pvt Ltd.) Embassy C 101, 247 Park, LBS Marg, Vikhroli West,Mumbai 400083

Unit

Investment Amount

₹ 1,00,083.07

Total Returns

₹ 19,636.79

Total Receivable

₹ 1,19,719.86

Cashflow Timeline

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FAQs about EarlySalary Services bonds

How to buy this EarlySalary Services bond online?

You can invest in bonds online in under 5 minutes. To buy EarlySalary Services bond online follow the steps below:

Login/signup at GoldenPi
Upload your documents online to complete the KYC
Pay online via payment gateway and receive bond units in your demat account

What is the yield of this EarlySalary Services bond?

11.0973% is the current yield of this EarlySalary Services bond. A bond’s current yield indicates the annual return based on its current market price and annual coupon payment.
In addition to current yield, the yield to maturity (YTM) of this EarlySalary Services bond is 11.0973%, which indicates the total expected return if the bond is held till the maturity date. It is calculated using the XIRR method considering current price, face value, coupon payments, and time to maturity.

Is it safe to invest in bonds?

Investing in bonds is relatively a safer option but it depends on factors like:

The creditworthiness of the issuer indicated by the credit rating
The debt quality of the bond indicated by its seniority and security
Your investment goals and risk appetite

If you are an existing bond investor and want to sell your bond holdings before maturity, you can do so through the secondary market. This can be done either through exchanges such as BSE or NSE, or you can also request a quote from your relationship manager at GoldenPi.

How to redeem this EarlySalary Services bond?

To redeem this EarlySalary Services bond, bond, kindly first check its redemption value and redemption schedule. This can be found by downloading the cash flow from the “Calculate Your Returns” section of this page or by contacting the support team at GoldenPi.
Once you buy this bond, the units would be reflected in your demat account.
Upon maturity, the bond units held in your demat account will be automatically debited on the maturity date, and if the maturity date falls on a bank holiday, the redemption amount will be paid out on the next working day.
The funds will be credited to the bank account linked to your demat account. The process of redeeming this EarlySalary Services bond is generally simple and straightforward. Contact our support team for more information.

Is this EarlySalary Services bond tax-free?

No, this EarlySalary Services bond is not tax free. The interest income received from these bonds will be treated as “income from other sources” in the ITR and the tax will be calculated as per your income tax slab.

To know more about taxation in detail please read this article: https://goldenpi.com/blogessentials/bond-market/taxation-on-gains-from-bond-investments/

Can I sell this EarlySalary Services bond before the maturity date?

Yes, it is possible to sell this EarlySalary Services bond before maturity. However, as the sale process happens in the secondary market, the price can be determined by a variety of factors, including interest rates, credit ratings, company performance, and market demand.

To know more about the sale process, contact us at https://goldenpi.com/contact-us

Need Help?

Talk to our Support Team for free. We will help you through your investment journey.

Note to Investors

GoldenPi Securities Pvt. Ltd. (“GSPL”) is a wholly owned subsidiary of GoldenPi Technologies Pvt. Ltd. (“GTPL”) and is a SEBI registered broker under BSE new debt segment allowing investors to trade in secondary bonds & debentures through exchange.

Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities, municipal debt securities/securitised debt instruments are subject to credit risks, market risks and default risks including delay and/or default in payment. Read all the offer related documents carefully.
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The FAQs on the platform are exclusively for educational information/knowledge and do not influence the investment/sale decisions of any investors.As you are aware, under the rapidly evolving dynamics of financial markets, it is crucial for investors to remain updated and well-informed about various aspects of investing in securities market. In this connection, please find a link to the BSE Investor Protection Fund website where you will find some useful educative material in the form of text and videos, so as to become an informed investor. https://www.bseipf.com/investors_education.html
We believe that an educated investor is a protected investor !!!

The information shown on the website should not be construed as financial advice or as an offer or recommendation to buy or sell any security or any products/services of GSPL or any product/services of its third-party client(s). The user should act and rely on the information/data shown on the website only after understanding all associated risk parameters. Any action/decision taken by the user on the basis of the information shown on this website shall be the sole responsibility of the user. Neither GSPL nor its directors, employees, associates, representatives, or agents shall be liable for any damages whether direct, indirect, special, or consequential including lost revenue or lost profits that may arise to the user from or in connection with the use of the information/data shown on this website.

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Key Managerial Personnel:
Abhijit Roy - Designated Director & CEO, Samir Baran Pratihar - Designated Director & CTO
Tel. No.: 080-45685666 | Email: contact-us@goldenpi.com

Cashflow Timeline

Timeline

Total Receivable*

Net Receivable**

2026

₹ 7,019.18

₹ 6,317.26

09 May	Interest ₹ 863.01	Interest ₹ 776.71
09 Jun	Interest ₹ 891.78	Interest ₹ 802.6
09 Jul	Interest ₹ 863.01	Interest ₹ 776.71
09 Aug	Interest ₹ 891.78	Interest ₹ 802.6
09 Sep	Interest ₹ 891.78	Interest ₹ 802.6
09 Oct	Interest ₹ 863.01	Interest ₹ 776.71
09 Nov	Interest ₹ 891.78	Interest ₹ 802.6
09 Dec	Interest ₹ 863.01	Interest ₹ 776.71

2027

₹ 10,500

₹ 9,450

2028

₹ 1,02,200.68

₹ 1,01,980.62

* The interest amount is paid as per total invested face value (₹ 100000) and annual coupon rate of 10.5%. When the bond enters the staggered maturity cycle, it will be calculated based on the outstanding face value.

** The net interest receivable is after 10% TDS for Indian Residents. However for NRI 30% TDS is deducted. The deducted TDS can be claimed while filing ITR.

Highlights

Company Financials

Ratio Analysis

About Issuer