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Invest in Senior Secured Bonds

9-14% p.a.9-14% p.a. Fixed Returns

Muthoot Mcred

42% Sold

10.75%p.a.

10.50%

DEAL OF THE DAY

Tenure

36M

Payout

Monthly

Rating

The Golden Experience of Investing

20 Lacs+ Users
Zero Defaults
Curated Bonds

ZeroDefaults
CuratedBonds
20 Lacs+Users
SEBIRegulated

Why invest in bonds?

Bonds are Senior Secured

Every ₹1 you invest is secured by at least ₹1+ of pledged assets as collateral

Bonds offer fixed returns

You can earn fixed returns of 9 - 14% P.A. on Senior Secured bonds available on GoldenPi

SEBI Registration No.:: INZ000310732
CIN:: U65990KA2022PTC164941
BSE Member ID:: 6809
NSE Member ID:: 90331

Compliance Officer: Kunal Sharma, Tel. No.: 080-45685666, Email ID: grievance-gspl@goldenpi.com (for any compliance & grievance related complaints)

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

Branch Office: 1st Floor, Tower-A, Global Business Park, Mehrauli-Gurgaon Road, Sector 26, Gurugram, Haryana 122002

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 and NSE 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.

Investors can update their email id and mobile number with their stock broker / depository participant and receive OTP directly from the depository on email id and/or mobile number to create a pledge. Investors can check their securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month.

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.

Investor Awareness

Risk Disclosures on Derivatives

9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
On an average, loss makers registered net trading loss close to ₹50,000
Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs
Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost

Source: SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

डेरिवेटिव्स पर जोखिम प्रकटीकरण

इक्विटी फ्यूचर्स और ऑप्शंस सेगमेंट में 10 में से 9 व्यक्तिगत ट्रेडरों को शुद्ध नुकसान हुआ।
औसतन, नुकसान उठाने वाले ट्रेडरों को लगभग ₹50,000 का शुद्ध ट्रेडिंग नुकसान हुआ।
शुद्ध ट्रेडिंग नुकसान के अतिरिक्त, नुकसान उठाने वालों ने शुद्ध ट्रेडिंग नुकसान का 28% अतिरिक्त लेन-देन लागत के रूप में खर्च किया।
शुद्ध ट्रेडिंग लाभ कमाने वालों ने ऐसे लाभ का 15% से 50% लेन-देन लागत के रूप में चुकाया।

स्रोत: SEBI का अध्ययन दिनांक 25 जनवरी 2023, "इक्विटी फ्यूचर्स एंड ऑप्शंस (F&O) सेगमेंट में व्यक्तिगत ट्रेडरों के लाभ-हानि का विश्लेषण", जो वित्त वर्ष 2021-22 में इक्विटी F&O में व्यक्तिगत ट्रेडरों के वार्षिक लाभ/हानि पर आधारित है।

Investor Education

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We understand that certain investment advisors may be approaching members of the public including our clients, representing that they are our partners, or representing that their investment advice is based on our research. Please note that we have not engaged any third parties to render any investment advisory services on our behalf nor are we providing any stock recommendations/tips/research report/advisory. Persons making investments on the basis of such advice may lose all or a part of their investments along with the fee paid to such unscrupulous persons. Please be cautious about any phone call that you may receive from persons representing to be such investment advisors, or a part of research firm offering advice on securities. Do not make payments through e-mail links, WhatsApp or SMS. Please do not share your personal or financial information with any person without proper verification. Always trade through a registered broker.

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Risk Disclosure & Regulatory Information

Fixed returns do not mean guaranteed or assured returns. Investments in corporate debt securities, municipal debt securities, and securitised debt instruments carry credit risk, market risk, and default risk, including delay or default in payment. Please read all offer-related documents carefully before you invest.

The online bond platform goldenpi.com is owned by GoldenPi Securities Pvt Ltd (GSPL), an OBPP and debt broker registered with SEBI. GSPL is a wholly owned subsidiary of GoldenPi Technologies Pvt Ltd (GTPL).

Corporate Bonds in India: A Complete Guide for Investors (2026)

Corporate bonds have quietly become one of the most talked-about fixed-income options for Indian investors looking to earn more than what a fixed deposit offers. Whether you're a salaried professional trying to beat inflation or a retiree seeking steady income, corporate bonds deserve a serious look. Let's break down everything you need to know before investing.

Not all corporate bonds work the same way. Depending on your risk appetite and income needs, here's what's available in the Indian market.

Secured Bonds

Backed by specific company assets (like property or machinery). If the issuer defaults, bondholders have a claim on these assets first; lower risk, and naturally, a lower yield.

Unsecured Debentures

No asset backing here, so the company's promise to repay rests purely on its financial strength. This higher risk comes with a higher coupon to compensate investors.

Convertible Bonds

A hybrid instrument that gives you the option to convert your bond holding into company shares at a predetermined price. Useful if you want debt safety with some upside potential.

Non-Convertible Debentures (NCDs)

Pure debt instruments with no equity conversion option. These are the most common type of corporate bond you'll come across in India.

Zero-Coupon Bonds

No periodic interest payments. Instead, you buy them at a discount and receive the full face value at maturity; the difference is your return.

Perpetual / AT1 Bonds

These have no fixed maturity date and typically offer higher yields, but come with a distinct risk profile (especially relevant if you remember how AT1 bonds behaved during banking stress events).

Before you invest, here's what actually determines whether a bond suits your portfolio.

Coupon Rate

Typically ranges from around 7% for AAA-rated bonds to 14%+ for A-rated bonds in 2026, paid monthly, quarterly, or annually.

Credit Rating

Rated AAA to D by agencies like CRISIL, ICRA, CARE, and Brickwork. This rating is your first (but not the only) clue to default probability.

Tenure

Ranges from 1 year to 30+ years; broadly split into short-term (1–3 years), medium-term (3–7 years), and long-term (7+ years).

Secondary Market Liquidity

Listed bonds can be sold before maturity on the BSE or NSE through platforms like GoldenPi.

Taxability

Interest is taxed as per your income slab (with TDS applicable); capital gains are taxed separately.

Seniority

Bondholders rank above equity shareholders when it comes to repayment during insolvency proceedings.

The coupon rate often gets all the attention, but seasoned investors know the credit rating and tenure matter just as much. A high coupon on a low-rated bond isn't necessarily a good deal; it's compensation for risk you're taking on.

This is the comparison most investors actually care about. Here's how they stack up:

Parameter	Bank FD	AAA Corporate Bond	AA Corporate Bond
Returns	~6.5–7.5%	~7–8.5%	~9–10.5%
Safety	DICGC insured up to ₹5 lakh	High (low default probability)	Moderate (slightly higher default risk)
Liquidity	Premature withdrawal with penalty	Sellable on secondary market	Sellable on secondary market
Tenure flexibility	Fixed slabs (7 days to 10 years)	Wide range, including long-tenure options	Wide range, including long-tenure options
Tax treatment	Interest taxed as per slab	Interest taxed as per slab; LTCG on gains	Interest taxed as per slab; LTCG on gains
Minimum investment	Usually ₹1,000–10,000	Starts around ₹10,000 on platforms like GoldenPi	Starts around ₹10,000
Regulatory body	RBI	SEBI	SEBI

For investors in the 30% tax bracket, an AA-rated corporate bond earning around 9% YTM can deliver meaningfully higher post-tax returns than a bank FD at 7.5%, simply because the higher base return outweighs the tax outgo. Run your own numbers before deciding which fits your tax situation better.

Tax treatment is where a lot of investors slip up, so let's simplify it.

Interest income is added to your total income and taxed as per your applicable income tax slab. Following the Finance Act 2025, TDS at 10% now kicks in only if your interest income from a single issuer crosses ₹10,000 in a year (up from the earlier ₹5,000 threshold).

Capital gains depend on whether the bond is listed or unlisted, and here's the part that confuses people: unlisted bonds don't get any long-term benefit anymore, no matter how long you hold them.

Gain Type	Holding Period	Tax Rate
LTCG (listed bonds)	More than 12 months	12.5% without indexation
STCG (listed bonds)	12 months or less	As per your income slab
Unlisted bonds	Any holding period	Always taxed as short-term gains, at your income slab (Section 50AA)

That last row surprises a lot of investors: since July 2024, gains on unlisted bonds and debentures are deemed short-term irrespective of how long you've held them, so a 5-year-old unlisted NCD gets taxed exactly like a bond you sold after six months. This alone can make listed, exchange-traded bonds meaningfully more tax-efficient for long-term holders.

One thing that hasn't changed: bond taxation is identical under the old and new tax regimes; the rules above apply either way. Since post-tax returns are what actually matter, it's worth working out your XIRR before you invest, so you know exactly what you're walking away with.

Corporate bonds aren't risk-free, and any experienced investor will tell you that a healthy coupon rate means little if you haven't accounted for these:

Credit/default risk
Interest rate risk
Liquidity risk
Credit migration risk
Reinvestment risk

Here's what each of these actually means in practice.

Credit/Default Risk

The issuer might fail to pay interest or principal. This is best managed by checking the credit rating and reading the rating agency's detailed report, not just the letter grade.

Interest Rate Risk

Bond prices move inversely to interest rates. If rates rise after you buy, the market value of your bond can fall. Holding to maturity largely sidesteps this.

Liquidity Risk

Some bonds trade thinly in the secondary market, making it harder to exit early at a fair price. This is exactly why a robust secondary market matters.

Credit Migration Risk

A bond rated AA today could be downgraded to A tomorrow if the issuer's financial health weakens. Keeping an eye on rating alerts helps you react early.

Reinvestment Risk

When your coupon or maturity proceeds come in during a falling rate cycle, reinvesting at similar returns becomes harder.

GoldenPi displays live credit ratings and rating change alerts on every bond page, so you're not caught off guard by a downgrade.

Corporate bonds aren't a one-size-fits-all product. Here's who tends to benefit most, and what to actually look for.

Salaried Professionals

Those in the 20–30% tax bracket looking for returns that comfortably beat FD rates, without taking on equity-like volatility.

Recommended: AAA- and AA-rated NCDs with 3–5 year tenures strike a good balance between yield and safety for this group. Explore Highly Rated Bonds

Retirees and Senior Citizens

Investors who need predictable, regular income. Monthly or quarterly coupon payouts can work well alongside a pension.

Recommended: AAA-rated secured bonds with monthly or quarterly coupon frequency, prioritising safety over chasing an extra percentage point of yield. Explore Highly Rated Bonds

HNIs

Those looking to diversify beyond equities and bring down overall portfolio volatility, without parking everything in low-yield instruments.

Recommended: A laddered mix across AA- and A-rated NCDs, and selectively perpetual/AT1 bonds for the higher-yield sleeve of the portfolio. Explore High-Yield Bonds

NRI Investors

Several FEMA-eligible bonds are available with fully repatriable returns, making this an accessible option even from abroad.

Recommended: FEMA-eligible, listed NCDs from AAA/AA-rated issuers, which combine repatriability with secondary-market exit options. Explore Highly Rated Bonds

Conservative First-Time Investors

Investors ready to move beyond FDs but not yet comfortable with equity risk.

Recommended: Start with AAA-rated, short-tenure (1–3 year) secured bonds; the closest substitute to an FD, with a better post-tax return. Explore Short-Term Bonds

Getting started is more straightforward than most people expect.

Step 1: Complete Your KYC

Finish your KYC online in under 5 minutes using your PAN, Aadhaar, and a linked Demat account.

Step 2: Browse Bonds

Filter by credit rating, yield, tenure, coupon frequency, or sector to find what matches your goals.

Step 3: Place Your Order

Settlement happens directly via the BSE/NSE, and the bonds are credited to your Demat account within T+2 days.

GoldenPi is India's first SEBI-registered Online Bond Platform Provider (OBPP), which means your transaction settles directly on the exchange, not through an intermediary. And if your plans change, you're not locked in: you can buy or sell on GoldenPi's secondary market whenever you need to.

SEBI-Registered OBPP

GoldenPi operates as a SEBI-registered Online Bond Platform Provider — one of roughly 30 platforms in India licensed for this, out of hundreds of fintech apps that merely claim to sell bonds. Your transaction settles directly on the exchange, not through an unregulated intermediary.

₹10,000 Minimum Investment

Compare that to the ₹10 lakh minimums common elsewhere; corporate bonds become accessible to a much wider set of investors.

Active Secondary Market

Buy and sell bonds before maturity with no lock-in anxiety weighing on your decisions.

Full Information Parity

Every bond listing comes with credit reports, coupon schedules, and ISIN data, so you're investing with complete visibility.

Zero Hidden Charges

No brokerage fees on secondary market trades.

Dedicated Relationship Manager

Get personalised support through your investment journey, not just a self-serve dashboard.

What are corporate bonds and how do they work?

Corporate bonds are debt instruments companies issue to raise money from investors. When you buy one, you're effectively lending the company money for a fixed period. In return, the issuer pays you periodic interest (the coupon) and returns your principal at maturity. Bonds are rated by agencies like CRISIL and ICRA based on the issuer's ability to repay, and listed bonds can also be traded on the exchange before maturity.

What is the minimum investment in corporate bonds on GoldenPi?

You can start investing in corporate bonds on GoldenPi with as little as ₹10,000, which is far lower than the ₹10 lakh+ tickets traditionally needed to access this market. This became possible after SEBI reduced the face value of listed privately placed bonds in 2024.

Are corporate bonds safe in India?

Safety depends entirely on the issuer's credit rating. AAA-rated bonds carry very low default risk and are considered close to government-security safety, while lower-rated bonds (A or BBB) carry meaningfully higher risk in exchange for higher yields. Corporate bonds also rank senior to equity holders during insolvency, giving bondholders first claim on recoveries. They aren't insured like bank deposits, though, so checking the rating and the rating agency's report before investing matters.

How is income from corporate bond investments taxed in 2026?

Interest income is added to your total income and taxed as per your income tax slab, with 10% TDS applying once interest from a single issuer crosses ₹10,000 a year. Capital gains depend on listing status: listed bonds held over 12 months qualify for LTCG at 12.5% (no indexation), while gains on unlisted bonds are always treated as short-term and taxed at slab rate, regardless of holding period. This applies under both the old and new tax regimes.

What is the difference between corporate bonds and fixed deposits?

Corporate bonds typically offer higher returns than bank FDs — AA-rated bonds often yield 9–10.5% versus 6.5–7.5% on FDs — but FDs come with DICGC insurance up to ₹5 lakh, while bonds carry credit risk based on the issuer's rating. Bonds also offer secondary-market liquidity, letting you exit before maturity, unlike FDs where premature withdrawal usually means a penalty.

Can I sell corporate bonds before maturity on GoldenPi?

Yes. Listed corporate bonds can be sold on the secondary market through the BSE or NSE before their maturity date, using GoldenPi's platform. This gives you an exit option that traditional fixed deposits don't offer, though the price you get will depend on prevailing market conditions and how actively that particular bond trades.

What credit rating should I look for in corporate bonds?

For most investors, AAA- or AA-rated bonds are the safer starting point, carrying a low-to-moderate probability of default as assessed by agencies like CRISIL, ICRA, and CARE. A-rated and below offer higher coupons but come with real credit risk and are better suited to investors comfortable monitoring issuer financials closely. It's also worth tracking rating changes over the bond's tenure, since a downgrade can affect both resale value and repayment confidence.

What is YTM and how is it different from the coupon rate?

The coupon rate is the fixed interest the bond pays on its face value each year. YTM (Yield to Maturity) is the actual return you earn if you buy the bond at its current market price and hold it to maturity. It accounts for any premium or discount to face value, plus reinvested coupons. When a bond trades below face value, its YTM is higher than its coupon; above face value, YTM is lower.

Which corporate bonds are best for senior citizens?

AAA-rated secured bonds with monthly or quarterly coupon payouts tend to work best for senior citizens, since they prioritise capital safety and predictable income over chasing extra yield. Government-backed and PSU bonds are also worth considering for this group, given their lower default risk.

Can NRIs invest in corporate bonds in India?

Yes. NRIs can invest in FEMA-eligible corporate bonds through their NRE or NRO accounts, with returns that are typically repatriable depending on the account type used. Listed, highly rated NCDs are usually the most suitable starting point, since they combine repatriability with secondary-market liquidity if you need to exit early.