I

Indian Railway Finance 6.85% Oct 2040 NCD

AAA Secured NCD

Indian Railway Finance Corporation

Secured, Rated, Taxable, Redeemable NCD

Browse: AAA rated bonds · bonds maturing in 2040

Current YTM
7.48%
Market YTM
Coupon Rate
6.85%
Per annum
Maturity Date
29 Oct 2040
14.2 Yrs to Maturity
Interest Payment
Annual
Frequency
Face Value
₹1,000,000
Per Bond
Market Position
YTM (Annual)
7.48%
Live, last traded 2026-07-23
10Y G-Sec Benchmark
6.66%
Reference point, not this bond's tenor
Spread over G-Sec
+62 bps
vs 14.2Y G-Sec at 6.86%
Below the median spread for similar-tenor peers
Tenure
14.2 Years
Remaining to maturity
Price vs Yield

Price chart data not available

Secondary market trade data is collected over time as bonds trade on BSE/NSE. Needs at least 3 trade dates.
Cashflow Timeline
29 Oct 2026
Interest Payment
₹68,500.00 / Bond
29 Oct 2027
Interest Payment
₹68,500.00 / Bond
29 Oct 2028
Interest Payment
₹68,500.00 / Bond
29 Oct 2029
Interest Payment
₹68,500.00 / Bond
29 Oct 2030
Interest Payment
₹68,500.00 / Bond
29 Oct 2031
Interest Payment
₹68,500.00 / Bond
29 Oct 2032
Interest Payment
₹68,500.00 / Bond
29 Oct 2033
Interest Payment
₹68,500.00 / Bond
29 Oct 2040
Principal Payment
₹1,000,000.00 / Bond

Next 8 coupons + principal at maturity · per ₹1,000,000 face value

Bond Timeline
— Issue / Maturity | Coupon (projected) ┊ Today
Today Issued 2020-10-29 Matures 2040-10-29
Key Metrics
Coupon Rate
6.85%
YTM (Annual)
7.48%
Credit Rating
AAA
(CRISIL)
Remaining Tenure
14.2 Years
Advanced metrics
Modified Duration
8.22 Yrs
Macaulay Duration
8.83 Yrs
Issue Size
₹5,991 Cr
Minimum Investment
₹1,000,000
(1 Bond)
Market Characteristics
Modified Duration
8.22 Yrs
Price sensitivity per 1% yield move
Payment Frequency
Annual
Last Trade
2026-07-23
NSE OTC (WAP)
Trades (30 Days)
0
Exchange-reported sessions
Security Status
Secured
No call option
Observations
  • This bond is secured.
  • No secondary-market trades recorded in the last 30 days.
  • Coupon is 3.15 percentage points below the median for tracked NCD bonds. (based on 18927 tracked NCD bonds with a stated coupon)
Structured Overview Data as of 8 Aug 2026
Instrument Type
NCD
Issue Date
2020-10-29
Day Count Convention
30/360
Listed Exchange
BSE
Call / Put Option
None disclosed

Issued by Indian Railway Finance Corporation, IRFC-6.85%-29-10-40-PVT is a secured, rated, ncd paying a 6.85% p.a. coupon annual. The instrument repays principal on maturity.

Recent Market Prices
Trade DateClean PriceYTM (%)Trades
2026-07-23 94.5434 7.4775 None
Data Coverage
DatasetRecordsDetailFreshness
Credit Ratings 2 CRISIL, ICRA 2020-11-30
Rating Actions History 0
Secondary-Market Trades 1 NSE OTC (WAP) 2026-07-23
Reg52(4) Payment Disclosures 0
Documents
Entity metadata
Source
bse_bonds
Last Updated
8 Aug 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 6.85% Oct 2040 NCD?

Indian Railway Finance 6.85% Oct 2040 NCD carries a coupon of 6.85%, paid annual, on a face value of ₹1,000,000.

When does Indian Railway Finance 6.85% Oct 2040 NCD mature?

Indian Railway Finance 6.85% Oct 2040 NCD matures on 2040-10-29, 14.2 years from today.

What is Indian Railway Finance 6.85% Oct 2040 NCD rated?

Indian Railway Finance 6.85% Oct 2040 NCD is rated AAA by CRISIL and AAA by ICRA. As of 2020-11-30.

Is Indian Railway Finance 6.85% Oct 2040 NCD secured?

Indian Railway Finance 6.85% Oct 2040 NCD is a secured bond.

Where does Indian Railway Finance 6.85% Oct 2040 NCD trade?

Indian Railway Finance 6.85% Oct 2040 NCD is listed on BSE.

What yield does Indian Railway Finance 6.85% Oct 2040 NCD currently offer?

The last recorded trade on 2026-07-23 priced Indian Railway Finance 6.85% Oct 2040 NCD at ₹94.54, implying a yield to maturity of 7.48%.

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