Top G-Sec Yields

G-Secs have  ‘sovereign’ rating as, technically, the government will not default. However, like bonds, their price can reduce if interest rates increase and vice-versa.

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Muthoot NCD

Muthoot Finance is offering secured and unsecured non-convertible debentures (NCDs). The maximum coupon rate is 12.25% for secured NCDs of 36 months. There are options for cumulative as well as non-cumulative NCDs for different periods. Option XI for 72 months, offering to double your money, is unsecured and, hence, avoidable. CRISIL and ICRA rating is AA- (which means higher risk that is compensated with better rates). The interest is taxable even if TDS is not deducted. Taxable NCDs work well for those up to 10% tax bracket. For others, it’s better to go for tax-free bonds from government companies.
 

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Tax-free Bonds

NHPC tax-free bonds issue was closed early due to oversubscription from retail as well as non-retail segments. NTPC, the country’s largest power producer, may offer tax-free bonds in December; interest rates are likely to be in the 8.4%-8.9% range for tenures of 10, 15 and 20 years. IIFCL is planning to issue its second tranche of tax-free bonds; NHAI too will offer tax-free bonds soon.

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