What are Non-Convertible Debentures (NCDs)?

NCDs are fixed-income debt instruments issued by companies that offer regular interest payouts and cannot be converted into equity shares.

Are NCDs safe to invest in?

Secured NCDs are relatively safer as the issuer's assets back them, but credit ratings should always be checked.

What is the minimum amount required to invest in an NCD on Upstox?

You can start investing in NCDs with as little as ₹10,000.

How much return can I expect from NCDs?

Returns typically range between 8% and 10.5% p.a., depending on the issuer and tenure.

How often will I receive interest payouts?

Interest payouts can be monthly, quarterly, annually, or at maturity, based on the chosen series.

Can I apply for NCDs using UPI on Upstox?

Yes, you can apply using your UPI ID and authorize the payment through a One-Time Mandate.

Where can I see the list of available NCDs on Upstox?

You can find them under 'NCDs & Bonds' in the 'More' section of both Traders and Investors modes.

Do I need to submit any documents to invest in NCDs?

No paperwork is required; everything is handled digitally through the Upstox platform.

Will I get confirmation of allotment?

Yes, you'll receive a notification on the allotment day informing you whether the bonds have been allotted.

Where will the allotted NCDs appear?

Once allotted, NCDs will reflect in your Upstox portfolio under 'Holdings.'

Are NCD investments regulated?

Yes, NCDs are regulated by SEBI and issued by RBI-registered entities.

Can I exit or sell my NCDs before maturity?

Yes, most listed NCDs can be sold on the stock exchange before maturity, subject to market liquidity.

Invest in Non-Convertible Debentures (NCDs) Public Issues

Start investing in top-rated NCDs with just three clicks on Upstox

By signing up, you agree to receive transaction updates from Upstox. We will only call you if require any further assistance.

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Open NCD Issues You Can Invest In

SEBI Regulated | Zero Paperwork | Quick Allotment Via Upstox App

There are no issues open currently. The bidding opens again next Monday.

View all open Issues and Listed bonds

Top Benefits of Investing in NCD Public Issues

Perfect for moderate to low risk-takers, NCDs offer a stable, high-yield investment opportunity with predictable returns and low entry barriers.

Benefits

Higher Returns

Earn up to 10.5% p.a., far better than most fixed deposits.

Guaranteed Payouts

Get fixed returns, independent of market ups and downs.

Low Investment Barrier

Begin with just ₹10,000, making it accessible to all investors.

Steady Income

Enjoy regular interest payouts: monthly, quarterly, or annually.

Portfolio Diversification

NCDs are an excellent way of diversifying your investment portfolio.

Apply for NCDs in a Few Easy Steps

Investing in NCDs is seamless and quick with both Traders and Investors Mode

Traders Mode

Investors Mode

Tap on 'Discover' in the bottom menu

Tap on 'More' in the bottom menu

Go to 'More' → 'NCDs & Bonds'

Select 'NCDs & Bonds'

View all open NCD public issues and tap on 'Apply'

Browse through active NCD issues and choose one to apply

Application Process (for both modes)

Select the Issuer

Select from the insurers like (e.g., Muthoot Fincorp, Edelweiss Finance)

Apply

Tap on the apply button to proceed to the next step

NCD Series

Choose the series based on your preferred interest payout & tenure

Mandate

Enter your UPI ID for One Time Mandate (OTM)

Submit

Tap submit and you are done

Post Application Flow

UPI Mandate

Receive a One-Time Mandate on your UPI app

Accept Mandate

Accept the mandate to complete your application

Allotment

On allotment day, get notified of your bond allotment status

Portfolio

If allotted, the NCDs will reflect in your Upstox portfolio.

Love from our customers

Here is what our customers feel about buying NCD from Upstox

Since the equity markets turned volatile, I was looking for safer investment options. That's when I came across NCDs on Upstox. The process was super easy and seamless. All the bond details were clearly mentioned, which made it easy to decide. Just two clicks and my application was done.

Salaath ShaikhInvested in: Muthoot Fincorp Ltd NCD – 10.10% Yield

I tried applying for NCDs on other platforms, but they required lengthy KYC and account setup processes. On the Upstox app, I didn't have to go through any of that. I was done in just a couple of clicks.

Sushil BInvested in ICL Fincorp NCD 11.55% Yield

I just wanted better returns than a fixed deposit, and NCDs worked out perfectly. From now on, I'll be parking my investment funds in NCDs for safe and stable returns

Rohit GuptaInvested in Muthoot Fincorp Ltd NCD - 9.9% Yield

News about NCDs

Get latest news about upcoming and current NCDs

IIFL Finance shares soar 3% as board approves issuance of NCDs worth ₹600 crore

2 min read

Vedanta to use ₹5,000 crore NCD funds to cut high-cost debt, save ₹350 crore in interest

3 min read

SEBI extends relaxation to listed NCDs from sending physical copies of financial statement