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What are the Latest Coupon Rates for Government Bonds in India?

This article gives you the latest government bond coupon rates so that you can maximize your return from these bonds.

What are the Latest Coupon Rates for Government Bonds in India?


Posted on 25 May 2024 • Updated on: 11 Jun 2024
Author: Sayan Sircar
6 mins read
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This article gives you the latest government bond coupon rates so that you can maximize your return from these bonds.

What are the Latest Coupon Rates for Government Bonds in India?

📚 Topics covered:

What are the latest coupon rates as per year of maturity?

How to interpret the data?

The chart and the table show the simple average coupon rates of all currently issued Government of India bonds. For example, if there are two bonds with coupons 6.8% and 7.0% outstanding for say 2029, then the table and the chart will show 6.9%.

At a high level, ₹1 crore invested in such bonds, will pay around ₹6.9 lakhs per year (half the amount every six months), until their maturity in 2029. The exact yield (income/investment) will depend on the purchase price. Existing bonds are highly illiquid.

Chart view

Coupons for all tradable Government Of India (Gilt) Bonds in India as per Maturity

Table view

Year Coupon %
2024 7.54
2025 6.94
2026 7.53
2027 7.74
2028 7.09
2029 7.04
2030 7.28
2031 6.39
2032 7.78
2033 7.34
2034 7.13
2035 6.73
2036 7.76
2037 7.18
2039 7.23
2040 8.3
2041 8.83
2042 8.3
2043 8.46
2044 8.17
2045 8.13
2046 7.06
2049 7.72
2050 6.92
2051 6.81
2052 7.36
2053 7.3
2054 7.37
2055 7.72
2059 7.63
2060 7.0
2061 6.86
2062 7.4
2063 7.25
2064 7.34
2073 7.46

Who should invest in these bonds?

This coupon is taxable at slab

You should not purchase these bonds unless you are already retired or do not have active income.

New bonds will not be issued at the same coupon rate as these historical bonds

It is important to understand the use case of investing in these bonds which we have covered in detail in our article: How to use the RBI Retail Direct Scheme to get guaranteed income?.

Investors who do not require this regular income but are thinking of exposure to these bonds should do so via debt mutual funds: Gilt funds do not always go up in value. Should you invest in gilt funds?

To understand if these bonds make sense for your portfolio:

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Also read
Sec 54F: a hack that can save lakhs in taxes when you buy a house

When do these coupon rates change?

These rates will change whenever the Government of India auctions any new bonds which happens from time to time.

How to invest in these bonds?

Retail investors, i.e. those who are investing below ₹2 crores, can purchase the new bonds, just like IPOs of shares, via the RBI Retail Direct portal.

Currently existing bonds, whose data is in the table above, can be purchased at RBI’s NDS-OM portal: https://retail.ndsom.com/

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This post titled What are the Latest Coupon Rates for Government Bonds in India? first appeared on 25 May 2024 at https://arthgyaan.com


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