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National Bank for Agriculture and Rural Development — Bonds & AAA (CRISIL) Rating

Bank · Financial Services

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Agency Rating
AAA (CRISIL)
Most common current rating on senior bonds
7 of 7 rated · CRISIL, 28 Jun 2026
Total Debt Outstanding
₹3,14,235 Cr
Across 119 instruments
Active Bonds
119
First Issue
23 Mar 2016
Latest Issue
19 Oct 2026
Maturity Range
2026 - 2038
Observation
119 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies
Issuer health card Nothing flagged on record
  • Current ratings CRISIL AAA, ICRA AAA
  • Rating range All current ratings are AAA (CRISIL 28 Jun 2026, ICRA 28 Jun 2026)
  • Rating direction, 12 months 0 upgrades, 0 downgrades
  • Watch / negative outlook None in 12 months
  • Issuer not cooperating No such actions in 12 months
  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months
  • Newest agency rating Dated 5 Aug 2026
  • Payment record 26 payment disclosures since 17 Jul 2026: all on time
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 44 of 119 active bonds had an exchange trade
  • Exchange filings, 90 days 0 filings on NSE/BSE

A checklist of published facts, not a rating or a view on credit quality. Ratings are the agencies' own; payment record covers NSE disclosures since 17 Jul 2026; "late" means paid more than 3 days after the due date (next-working-day payments are allowed). Rating range covers every current rating on the issuer's active bonds, with each agency's rating date. Rating actions count only when the agency's heading names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility. Rating age uses the newest rating date on file and is flagged when older than 12 months. See methodology.

Alert me about National Bank for Agriculture and Rural Development An email when a rating agency acts on this issuer (including any cut to default grade D) or a payment is disclosed late or short. Free, no account needed.
01 Issuer Overview
Sector
Financial Services
Issuer Type
Bank
First Tracked Bond
23 Mar 2016
Start of this issuer's debt program timeline
  • 119 active bonds tracked from this issuer.
  • 2 of 118 tracked bonds with a stated security status are secured. (based on 118 bonds with a disclosed security status)
  • Most recent rating action: update by CRISIL on 19 Oct 2026.

Operating in the Financial Services sector, National Bank for Agriculture and Rural Development is classified as a bank or financial institution. Bond coupons here span 6.07% - 8.98%, paid annually. The maturity ladder spans 2026 - 2038.

Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.

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02 Debt Profile
Outstanding Bonds
119
Tracked by RetailBonds
Amount Tracked
₹3,14,235 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt (disclosed for 107 of 119 bonds)
Avg Coupon
7.55%
Range 6.07% - 8.98%
Avg Remaining Tenure
4.7 Yrs
Nearest maturity Dec 2026
Secured
1%
2 of 118 bonds with known status
Callable
0
Of 119 bonds
Avg Spread vs G-Sec
+106 bps
Credit premium, from 26 bonds with a current market yield

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (19 bonds).

0 2026: 1 bond, ₹2,518 Cr tracked, avg coupon 7.83% 1 bond 2026 2027: 6 bonds, ₹24,203 Cr tracked, avg coupon 7.27% 6 bonds 2027 2028: 18 bonds, ₹81,744 Cr tracked, avg coupon 7.86% 18 bonds 2028 2029: 19 bonds, ₹81,922 Cr tracked, avg coupon 7.60% 19 bonds 2029 2030: 12 bonds, ₹39,178 Cr tracked, avg coupon 7.06% 12 bonds 2030 2031: 12 bonds, ₹22,380 Cr tracked, avg coupon 7.08% 12 bonds 2031 2032: 11 bonds, ₹10,200 Cr tracked, avg coupon 7.50% 11 bonds 2032 2033: 15 bonds, ₹14,857 Cr tracked, avg coupon 8.26% 15 bonds 2033 2034: 10 bonds, ₹22,393 Cr tracked, avg coupon 7.97% 10 bonds 2034 2035: 7 bonds, ₹7,796 Cr tracked, avg coupon 6.94% 7 bonds 2035 2036: 5 bonds, ₹4,816 Cr tracked, avg coupon 6.76% 5 bonds 2036 2037: 1 bond, ₹684 Cr tracked, avg coupon 7.63% 1 bond 2037 2038: 2 bonds, ₹1,544 Cr tracked, avg coupon 7.74% 2 bonds 2038

Security Type / Instrument Mix

  • NCD 119 bonds · 100% · ₹3,14,235 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2016: ₹8,312 Cr issued 2016 2017: ₹9,200 Cr issued 2017 2018: ₹33,387 Cr issued 2018 2019: ₹21,525 Cr issued 2019 2020: ₹34,254 Cr issued 2020 2021: ₹18,434 Cr issued 2021 2022: ₹1,684 Cr issued 2022 2023: ₹25,370 Cr issued 2023 2024: ₹80,844 Cr issued 2024 2025: ₹43,012 Cr issued 2025 2026: ₹38,213 Cr issued 2026 Cumulative: ₹8,312 Cr Cumulative: ₹17,512 Cr Cumulative: ₹50,899 Cr Cumulative: ₹72,424 Cr Cumulative: ₹1,06,678 Cr Cumulative: ₹1,25,112 Cr Cumulative: ₹1,26,797 Cr Cumulative: ₹1,52,167 Cr Cumulative: ₹2,33,011 Cr Cumulative: ₹2,76,022 Cr Cumulative: ₹3,14,235 Cr

Based on 107 of 119 active bonds with a known issue date and issue size — the rest are excluded, not assumed zero.

03 Credit Profile
  • AAA 105 bonds · 88%
  • Unrated 14 bonds · 12%
AgencyRatingOutlookBonds
CRISIL AAA — 6
ICRA AAA — 1
CRISIL AAA NSDL record — 41
India Ratings AAA NSDL record — 35
ICRA AAA NSDL record — 22

Recent Rating Actions

19 Oct 2026 · CRISIL
—
Update
28 Sep 2026 · CRISIL
—
Update
5 Aug 2026 · CRISIL
AAA
Initial · Stable
04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE261F08ED0 National Bank for Agriculture and Rural Development 7.83% Dec 2026 NCD 7.83% AAA (CRISIL, NSDL record 2023) 2026-12-30 7.20% 2026-10-23
INE261F08EF5 National Bank for Agriculture and Rural Development 7.80% Mar 2027 NCD 7.80% AAA (ICRA, NSDL record 2023) 2027-03-15 7.72% 2026-11-06
IN8261F08096 National Bank for Agriculture and Rural Development 7.80% Mar 2027 NCD 7.80% — 2027-03-15 — —
INE261F08CF9 National Bank for Agriculture and Rural Development 6.57% Jun 2027 NCD 6.57% AAA (ICRA, NSDL record 2020) 2027-06-01 — 2026-09-18
INE261F08EI9 National Bank for Agriculture and Rural Development 7.70% Sep 2027 NCD 7.70% AAA (ICRA) 2027-09-30 8.11% 2026-11-05
IN8261F08112 National Bank for Agriculture and Rural Development 7.70% Sep 2027 NCD 7.70% — 2027-09-30 — —
INE261F08CM5 National Bank for Agriculture and Rural Development 6.07% Nov 2027 NCD 6.07% AAA (India Ratings, NSDL record 2020) 2027-11-19 7.85% 2026-10-14
INE261F08DV4 National Bank for Agriculture and Rural Development 7.62% Jan 2028 NCD 7.62% AAA (CRISIL, NSDL record 2023) 2028-01-31 7.54% 2026-11-06
IN8261F08070 National Bank for Agriculture and Rural Development 7.62% Jan 2028 NCD 7.62% — 2028-01-31 — —
INE261F08EK5 National Bank for Agriculture and Rural Development 7.44% Feb 2028 NCD 7.44% AAA (CRISIL) 2028-02-24 7.79% 2026-11-05
IN8261F08138 National Bank for Agriculture and Rural Development 7.44% Feb 2028 NCD 7.44% — 2028-02-24 — —
INE261F08AA4 National Bank for Agriculture and Rural Development 8.22% Feb 2028 NCD 8.22% AAA (India Ratings, NSDL record 2018) 2028-02-25 8.70% 2026-11-03
INE261F08AD8 National Bank for Agriculture and Rural Development 8.20% Mar 2028 NCD 8.20% AAA (CRISIL, NSDL record 2018) 2028-03-09 9.12% 2026-10-27
INE261F08AE6 National Bank for Agriculture and Rural Development 8.20% Mar 2028 NCD 8.20% AAA (India Ratings, NSDL record 2018) 2028-03-16 7.88% 2026-10-12
INE261F08EM1 National Bank for Agriculture and Rural Development 7.53% Mar 2028 NCD 7.53% AAA (ICRA, NSDL record 2025) 2028-03-24 8.13% 2026-11-06
IN8261F08146 National Bank for Agriculture and Rural Development 7.53% Mar 2028 NCD 7.53% — 2028-03-24 — —
INE261F08AJ5 National Bank for Agriculture and Rural Development 8.65% Jun 2028 NCD 8.65% AAA (CRISIL, NSDL record 2018) 2028-06-08 — 2026-09-09
INE261F08EO7 National Bank for Agriculture and Rural Development 7.48% Sep 2028 NCD 7.48% AAA (CRISIL) 2028-09-15 8.12% 2026-11-06
IN8261F08161 National Bank for Agriculture and Rural Development 7.48% Sep 2028 NCD 7.48% — 2028-09-15 — —
INE261F08EC2 National Bank for Agriculture and Rural Development 7.63% Sep 2028 NCD 7.63% AAA (ICRA, NSDL record 2023) 2028-09-27 — —
INE261F08AP2 National Bank for Agriculture and Rural Development 8.77% Oct 2028 NCD 8.77% AAA (CRISIL, NSDL record 2018) 2028-10-05 — —
INE261F08EP4 National Bank for Agriculture and Rural Development 6.66% Oct 2028 NCD 6.66% AAA (ICRA, NSDL record 2025) 2028-10-12 8.08% 2026-11-06
INE261F08AS6 National Bank for Agriculture and Rural Development 8.56% Nov 2028 NCD 8.56% AAA (CRISIL, NSDL record 2018) 2028-11-14 — —
INE261F08AV0 National Bank for Agriculture and Rural Development 8.22% Dec 2028 NCD 8.22% AAA (India Ratings, NSDL record 2018) 2028-12-13 — —
INE261F08AX6 National Bank for Agriculture and Rural Development 8.18% Dec 2028 NCD 8.18% AAA (CRISIL, NSDL record 2018) 2028-12-26 7.45% 2026-11-03
INE261F08EQ2 National Bank for Agriculture and Rural Development 6.85% Jan 2029 NCD 6.85% AAA (ICRA, NSDL record 2025) 2029-01-19 7.89% 2026-10-08
IN8261F08179 National Bank for Agriculture and Rural Development 6.85% Jan 2029 NCD 6.85% — 2029-01-19 — —
INE261F08AY4 National Bank for Agriculture and Rural Development 8.29% Jan 2029 NCD 8.29% AAA (CRISIL, NSDL record 2019) 2029-01-24 — —
INE261F08BA2 National Bank for Agriculture and Rural Development 8.42% Feb 2029 NCD 8.42% AAA (CRISIL, NSDL record 2019) 2029-02-13 — —
INE261F08ER0 National Bank for Agriculture and Rural Development 7.27% Feb 2029 NCD 7.27% AAA (CRISIL, NSDL record 2026) 2029-02-23 — 2026-08-19
INE261F08BC8 National Bank for Agriculture and Rural Development 8.50% Feb 2029 NCD 8.50% AAA (India Ratings, NSDL record 2019) 2029-02-27 — —
INE261F08ES8 National Bank for Agriculture and Rural Development 7.01% Mar 2029 NCD 7.01% AAA (CRISIL) 2029-03-16 7.86% 2026-10-09
INE261F08BF1 National Bank for Agriculture and Rural Development 8.24% Mar 2029 NCD 8.24% AAA (India Ratings, NSDL record 2019) 2029-03-22 8.10% 2026-10-26
INE261F08BH7 National Bank for Agriculture and Rural Development 8.15% Mar 2029 NCD 8.15% AAA (India Ratings, NSDL record 2019) 2029-03-28 — —
INE261F08ET6 National Bank for Agriculture and Rural Development 7.10% Mar 2029 NCD 7.10% AAA (CRISIL) 2029-03-29 8.03% 2026-10-13
INE261F08EG3 National Bank for Agriculture and Rural Development 7.68% Apr 2029 NCD 7.68% AAA (India Ratings, NSDL record 2024) 2029-04-30 8.35% 2026-10-29
IN8261F08104 National Bank for Agriculture and Rural Development 7.68% Apr 2029 NCD 7.68% — 2029-04-30 — —
INE261F08EH1 National Bank for Agriculture and Rural Development 7.62% May 2029 NCD 7.62% AAA (India Ratings, NSDL record 2024) 2029-05-10 8.35% 2026-10-29
INE261F08EU4 National Bank for Agriculture and Rural Development 7.44% Jul 2029 NCD 7.44% AAA (CRISIL) 2029-07-17 7.97% 2026-11-05
IN8261F08187 National Bank for Agriculture and Rural Development 7.44% Jul 2029 NCD 7.44% — 2029-07-17 — —
INE261F08BM7 National Bank for Agriculture and Rural Development 7.41% Jul 2029 NCD 7.41% AAA (CRISIL, NSDL record 2019) 2029-07-18 8.10% 2026-11-05
INE261F08EJ7 National Bank for Agriculture and Rural Development 7.64% Dec 2029 NCD 7.64% AAA (ICRA, NSDL record 2024) 2029-12-06 8.22% 2026-11-05
IN8261F08120 National Bank for Agriculture and Rural Development 7.64% Dec 2029 NCD 7.64% — 2029-12-06 — —
INE261F08EV2 National Bank for Agriculture and Rural Development 7.16% Dec 2029 NCD 7.16% — 2029-12-14 8.08% 2026-11-05
INE261F08EW0 National Bank for Agriculture and Rural Development 8.13% Jan 2030 NCD 8.13% — 2030-01-11 8.10% 2026-11-05
INE261F08BX4 National Bank for Agriculture and Rural Development 7.43% Jan 2030 NCD 7.43% AAA (ICRA, NSDL record 2019) 2030-01-31 8.10% 2026-11-05
INE261F08BY2 National Bank for Agriculture and Rural Development 7.10% Feb 2030 NCD 7.10% AAA (ICRA, NSDL record 2020) 2030-02-08 — 2026-09-16
INE261F08BZ9 National Bank for Agriculture and Rural Development 7.27% Feb 2030 NCD 7.27% AAA (CRISIL, NSDL record 2020) 2030-02-14 — —
INE261F08CB8 National Bank for Agriculture and Rural Development 6.87% Mar 2030 NCD 6.87% AAA (India Ratings, NSDL record 2020) 2030-03-08 — —
INE261F08CC6 National Bank for Agriculture and Rural Development 7.40% Mar 2030 NCD 7.40% AAA (India Ratings, NSDL record 2020) 2030-03-19 8.16% 2026-10-30
Compare (/) Compare Bonds

YTM is the market yield from the latest BSE/NSE trade. It shows “—” when that trade is over 30 days old, the bond is under 30 days from maturity, it is a market-linked debenture, or the price failed our checks (hover the dash for the reason). A coupon is never shown as a yield.

More bonds from this issuer (67)
05 Market Activity

Last 30 days, across all outstanding bonds from this issuer.

BSE Traded Value (Last 30 Days)
—
Number of Trades (Last 30 Days)
216
Avg. Yield (Last 30 Days)
7.81%
06 Payment Disclosures (SEBI Reg52(4)) 20 disclosed

Interest and redemption payments as broadcast by NSE under SEBI LODR Reg 52(4)/60, across all outstanding bonds from this issuer -- actual disclosed events, not a projected schedule.

Due DateBondTypeAmount DueAmount PaidStatusFiling
15 Oct 2026 8.98% UNSECURED RATED LISTED... Interest ₹2,62,58,00,000.00 ₹2,62,58,00,000.00 Paid XBRL →
12 Oct 2026 6.66% UNSECURED RATED LISTED... Interest ₹4,66,20,00,000.00 ₹4,66,20,00,000.00 Paid XBRL →
6 Oct 2026 7.63% UNSECURED RATED LISTED... Interest ₹52,23,00,000.00 ₹52,23,00,000.00 Paid XBRL →
5 Oct 2026 8.77% UNSECURED RATED LISTED... Interest ₹1,23,75,00,000.00 ₹1,23,75,00,000.00 Paid XBRL →
30 Sep 2026 7.70% UNSECURED RATED LISTED... Interest ₹7,35,98,00,000.00 ₹7,35,98,00,000.00 Paid XBRL →
30 Sep 2026 6.57% UNSECURED RATED LISTED... Interest ₹19,37,00,000.00 ₹19,37,00,000.00 Paid XBRL →
28 Sep 2026 8.15% UNSECURED RATED LISTED... Interest ₹40,57,00,000.00 ₹40,57,00,000.00 Paid XBRL →
28 Sep 2026 8.20% UNSECURED RATED LISTED... Interest ₹60,50,00,000.00 ₹60,50,00,000.00 Paid XBRL →
23 Sep 2026 6.85% UNSECURED RATED LISTED... Interest ₹2,73,03,00,000.00 ₹2,73,03,00,000.00 Paid XBRL →
23 Sep 2026 8.12% UNSECURED RATED LISTED... Interest ₹44,00,00,000.00 ₹44,00,00,000.00 Paid XBRL →
22 Sep 2026 8.24% UNSECURED RATED LISTED... Interest ₹1,43,51,00,000.00 ₹1,43,51,00,000.00 Paid XBRL →
19 Sep 2026 7.40% UNSECURED LISTED RATED... Interest ₹1,29,65,00,000.00 ₹1,29,65,00,000.00 Paid XBRL →
17 Sep 2026 6.97% UNSECURED RATED LISTED... Interest ₹1,20,83,00,000.00 ₹1,20,83,00,000.00 Paid XBRL →
15 Sep 2026 7.48% UNSECURED RATED LISTED... Interest ₹16,92,57,00,000.00 ₹16,92,57,00,000.00 Paid XBRL →
11 Sep 2026 8.32% UNSECURED RATED LISTED... Interest ₹22,52,00,000.00 ₹22,52,00,000.00 Paid XBRL →
9 Sep 2026 8.20% UNSECURED RATED LISTED... Interest ₹92,06,00,000.00 ₹92,06,00,000.00 Paid XBRL →
24 Aug 2026 8.39% UNSECURED RATED LISTED... Interest ₹24,24,00,000.00 ₹24,24,00,000.00 Paid XBRL →
22 Aug 2026 7% UNSECURED RATED LISTED REDEEMABLE... Interest ₹18,07,00,000.00 ₹18,07,00,000.00 Paid XBRL →
13 Aug 2026 8.42% UNSECURED RATED LISTED... Interest ₹53,57,00,000.00 ₹53,57,00,000.00 Paid XBRL →
10 Aug 2026 7.10% UNSECURED LISTED RATED... Interest ₹1,15,60,00,000.00 ₹1,15,60,00,000.00 Paid XBRL →

Source: NSE Debt Centralised Database, per SEBI LODR Reg 52(4)/60. Coverage begins 2 Aug 2026 — history accumulates as disclosures are broadcast.

07 Regulatory Filings
Credit Rating Rationale
08 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 105 2026-06-28
Rating Actions History 3 2026-10-19
Secondary-Market Trades 708 2026-11-06
Reg52(4) Payment Disclosures 20 2026-10-15

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does National Bank for Agriculture and Rural Development have?

National Bank for Agriculture and Rural Development currently has 119 active bonds with coupons of 6.07% - 8.98%, maturities spanning 2026 - 2038.

What is National Bank for Agriculture and Rural Development's credit rating?

The most common current rating on National Bank for Agriculture and Rural Development's senior bonds is AAA (CRISIL). Ratings on file come from CRISIL, ICRA.

Are National Bank for Agriculture and Rural Development's bonds secured?

Of the 118 bonds with a disclosed security status, 2 are secured (1%) and 116 are unsecured.

When do National Bank for Agriculture and Rural Development's bonds mature?

National Bank for Agriculture and Rural Development's active bonds mature between 2026 - 2038; the nearest matures in Dec 2026; the average tenure is 4.7 Yrs.

What is the average coupon on National Bank for Agriculture and Rural Development's bonds?

The average coupon across National Bank for Agriculture and Rural Development's 119 active bonds is 7.55%.

Disclaimer: This page aggregates publicly available data about National Bank for Agriculture and Rural Development for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.