Non-convertible Debentures (NCD) are debenture or bonds that cannot be converted into share at any point of time. NCD is subdivided into Secured and Unsecured. Unlike unsecured debentures, Secured debentures are backed by the borrowing company’s asset to serve against the event of debt. Non-convertible Debentures (NCD) generally gives returns in the range of 10-13%. According to the expert's, in order to get higher returns, through investment in Non-convertible Debentures (NCD) you should hold them till maturity.

As of now, IIFL Finance will issue NCD of Rs 2,000 cr via retail bonds on 22 January,2019. This seems to be a good investment option as it is rated "AA/Stable" by CRISIL and ICRA- Credit Rating Agencies. These rating indicates high degree of safety with respect to timely servicing of financial obligations of the borrower’s. IIFL seeks to raise funds worth Rs. 2000 cr through this issue of NCD and offers as much as 10.5%, which is the best in the industry.