I

Indian Railway Finance Corpo… 7.35% Mar 2031 NCD

AAA Secured NCD

Indian Railway Finance Corporation Limited

Secured, Rated, Taxable, Redeemable NCD

Browse: AAA rated bonds · bonds maturing in 2031

Current YTM
5.60%
Market YTM
Coupon Rate
7.35%
Per annum
Maturity Date
22 Mar 2031
4.6 Yrs to Maturity
Interest Payment
Annual
Frequency
Face Value
₹1,000
Per Bond
Market Position
YTM (Annual)
5.60%
Live, last traded 2026-08-25
10Y G-Sec Benchmark
6.68%
Reference point, not this bond's tenor
Spread over G-Sec
-103 bps
vs 4.6Y G-Sec at 6.63%
Below the median spread for similar-tenor peers
Tenure
4.6 Years
Remaining to maturity
Price vs Yield
— Price (Clean) — Yield (YTM)
2026-07-01 2026-08-25
Cashflow Timeline
22 Mar 2027
Interest Payment
₹73.50 / Bond
22 Mar 2028
Interest Payment
₹73.50 / Bond
22 Mar 2029
Interest Payment
₹73.50 / Bond
22 Mar 2030
Interest Payment
₹73.50 / Bond
22 Mar 2031
Principal Payment
₹1,000.00 / Bond

Next 4 coupons + principal at maturity · per ₹1,000 face value

Bond Timeline
— Issue / Maturity | Coupon (projected) ┊ Today
Today Issued 2016-03-22 Matures 2031-03-22
Key Metrics
Coupon Rate
7.35%
YTM (Annual)
5.60%
Credit Rating
AAA
(CRISIL)
Remaining Tenure
4.6 Years
Advanced metrics
Modified Duration
3.74 Yrs
Macaulay Duration
3.95 Yrs
Issue Size
₹1,016 Cr
Minimum Investment
₹1,000
(1 Bond)
Market Characteristics
Modified Duration
3.74 Yrs
Price sensitivity per 1% yield move
Payment Frequency
Annual
Last Trade
2026-08-25
BSE
Trades (30 Days)
4
Exchange-reported sessions
Security Status
Secured
Callable
Observations
  • This bond is secured.
  • 4 secondary-market trades recorded in the last 30 days.
  • Coupon is 2.65 percentage points below the median for tracked NCD bonds. (based on 18935 tracked NCD bonds with a stated coupon)
Structured Overview Data as of 16 Jul 2026
Instrument Type
NCD
Issue Date
2016-03-22
Day Count Convention
30/360
Listed Exchange
Call / Put Option
Callable & Puttable

Issued by Indian Railway Finance Corporation Limited, 7.35% (FOR CATEGORY I, II & III i.e. NON-RIIs) SECURED REDEEMABLE NON CONVERTIBLE BONDS IN THE NATURE OF DEBENTURES. SERIES 108th. LETTER OF ALLOTMENT. DATE OF MATURITY 22/03/2031 is a secured, rated, ncd paying a 7.35% p.a. coupon annual. The instrument repays principal on maturity. The issuer holds the right to redeem the bond before maturity date.

Recent Market Prices
Trade DateClean PriceYTM (%)Trades
2026-08-25 106.8900 5.6000 1
2026-08-24 108.6600 5.1800 2
2026-08-13 107.9700 5.3500 1
2026-08-12 105.9000 5.8500 1
2026-07-01 112.0000 4.5000 20
Data Coverage
DatasetRecordsDetailFreshness
Credit Ratings 2 CRISIL, ICRA 2026-06-28
Rating Actions History 0
Secondary-Market Trades 5 BSE 2026-08-25
Reg52(4) Payment Disclosures 0
Documents
Entity metadata
Source
nsdl_master_promoted
Last Updated
16 Jul 2026

Risk warning: This page is for informational purposes only. Bond investments carry credit risk, interest rate risk, and liquidity risk. Credit ratings reflect agency opinion at a point in time. Nothing here constitutes investment advice or a recommendation. Verify all details against the issuer's offer document and the exchange. RetailBonds.in is not a SEBI-registered intermediary. See our full disclaimer.

Frequently Asked Questions
What is the coupon rate on Indian Railway Finance Corpo… 7.35% Mar 2031 NCD?

Indian Railway Finance Corpo… 7.35% Mar 2031 NCD carries a coupon of 7.35%, paid annual, on a face value of ₹1,000.

When does Indian Railway Finance Corpo… 7.35% Mar 2031 NCD mature?

Indian Railway Finance Corpo… 7.35% Mar 2031 NCD matures on 2031-03-22, 4.6 years from today.

What is Indian Railway Finance Corpo… 7.35% Mar 2031 NCD rated?

Indian Railway Finance Corpo… 7.35% Mar 2031 NCD is rated AAA by CRISIL and AAA by ICRA. As of 2026-06-28.

Is Indian Railway Finance Corpo… 7.35% Mar 2031 NCD secured?

Indian Railway Finance Corpo… 7.35% Mar 2031 NCD is a secured bond.

Can Indian Railway Finance Corpo… 7.35% Mar 2031 NCD be called or put back early?

Indian Railway Finance Corpo… 7.35% Mar 2031 NCD has both a call option, letting the issuer redeem it early, and a put option, letting holders require early repurchase, on scheduled dates.

What yield does Indian Railway Finance Corpo… 7.35% Mar 2031 NCD currently offer?

The last recorded trade on 2026-08-25 priced Indian Railway Finance Corpo… 7.35% Mar 2031 NCD at ₹106.89, implying a yield to maturity of 5.60%.

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