Zenflow
Primary NCD
Subscribe to fresh Non-Convertible Debenture issues from rated corporates for higher-than-FD yields with structured coupon options.
What Are Primary NCDs
Fresh Corporate Debt at Attractive Yields
Primary NCDs are Non-Convertible Debentures offered by corporates during a public issue window. They offer fixed coupon rates typically higher than bank fixed deposits, with tenure options ranging from 2-10 years. NCDs are secured or unsecured, rated by credit agencies, and listed on exchanges for secondary market liquidity. Zenflow provides access to quality NCD issues with detailed credit analysis.
Features
Why Invest in Primary NCDs
Higher Yields
NCD coupons are typically 100-300 bps higher than comparable bank fixed deposits.
Multiple Tenure Options
Choose from 2, 3, 5, 7, or 10-year tenures within the same issue.
Coupon Flexibility
Monthly, quarterly, annual coupon, or cumulative (compounding) payout options.
Credit-rated
All NCD issues carry credit ratings from CRISIL, ICRA, CARE, or India Ratings.
Exchange-listed
NCDs are listed on NSE/BSE within 6 trading days of allotment for secondary trading.
Secured Options
Many NCDs are secured by the issuer's assets, providing an additional safety layer.
How It Works
Invest in Primary NCDs in 4 Steps
Review Issue
Analyse the NCD offering — issuer credit, coupon rates, tenure, and security.
Apply Online
Submit your application during the issue window through Zenflow or ASBA.
Allotment
Receive NCD allotment in your Demat account and exchange listing within days.
Receive Coupons
Collect periodic coupon payments and principal at maturity.
Why Zenflow
The Zenflow Advantage for NCDs
Issue Alerts
Timely notifications when quality NCD issues open for subscription.
Credit Analysis
Independent credit review beyond rating agencies to assess true issuer quality.
Application Support
Seamless online application and allotment tracking through our platform.
Higher Fixed Income
Subscribe to quality NCD issues
Get notified about upcoming primary NCD issues with attractive yields.
Frequently Asked Questions
Common Questions Answered
Most primary NCD issues have a minimum application of ₹10,000 (10 NCDs at ₹1,000 face value). Some issues may have higher minimums.
Safety depends on the issuer's credit quality. AAA/AA-rated NCDs from established corporates are relatively safe. Lower-rated NCDs offer higher yields but carry more credit risk.
Coupon income is taxed at your income tax slab rate. Capital gains on listed NCDs held over one year are taxed at 12.5% with indexation benefit.
Secured NCDs are backed by the issuer's assets (property, receivables). In case of default, secured NCD holders have first claim on these assets. Unsecured NCDs have no such backing.
Expert Advisory
Ready to get started?
Schedule a call with our advisory team to discuss the right strategy for your goals.
NCD investments carry credit risk, interest rate risk, and liquidity risk. Returns are not guaranteed. Please read the prospectus and rating rationale carefully before investing.
More FAQs