InvestorQ : What is the procedure to apply for the NCD and how frequent are the interest rates?
Suresh Patil made post

What is the procedure to apply for the NCD and how frequent are the interest rates?

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Manisha Mehta answered.
1 month ago
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Applications for IIFL Bonds can be made between 3rd Mar and 23rd Mar with an option of early closure. The face value of each NCD will be Rs1,000 and investors need to apply for at least 10 NCDs worth Rs10,000. There is no upper investment limit for QIBs, corporates, and HNIs. All bonds to be applied for and allotted only in Demat format. There will not be any physical allotment of bonds. The application and allotment of the NCD will be done in Demat form only. IIFL Bonds will also be listed and traded on the BSE and the NSE debt segment.

How frequent are the interest payments?

There are three options of interest payment frequency you can choose from—annual, monthly, and at maturity. In the monthly option, investors can earn 9.6% while in the annual option, the yield is 10%. Those opting for cumulative interest will earn a 10.03% return. This return is up to 5.5% higher than the interest rate offered by leading banks on their fixed deposits.
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