Bonds · Review

Groww Bonds Review

An independent, sourced look at Groww Bonds for Indian retail bond investors — registration, what it really costs, payout track record and the risks the platform doesn’t lead with.

Verified September 2026

Our verdict

Groww Bonds is a legitimate, SEBI-registered way to buy corporate bonds inside India's largest broking app — bond IPOs since July 2025 and listed corporate bonds since late May 2026 — and for an existing Groww user it is the most convenient on-ramp there is. But it is a distribution shelf, not a deep bond marketplace: on 25 Sep 2026 it listed 26 bonds, mostly A- to AA-rated NBFC and microfinance paper yielding about 8.15–12.25%, every one 'powered by' Yubi or Northern Arc, the groups behind the Aspero and AltiFi bond platforms. Groww publishes no bond fee, offers no government securities, and has only four months of track record on listed bonds. Use it for a few rated bonds next to your stocks and funds; compare the yield with the supplier's own platform before you buy, and go elsewhere for G-secs or a wider choice.

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SEBI reg noINZ000301838 (Groww Invest Tech Pvt Ltd)

Bond platform (OBPP) statusBSE member 6699, active since 9 Jul 2025; NSE member 90187, enabled 7 Nov 2025 (exchange OBPP lists, Sep 2026)

Live productsBond IPOs (since 24 Jul 2025) and listed corporate bonds (since late May 2026)

Listed shelf (25 Sep 2026)26 bonds; YTM 8.15–12.25%; ratings AA+ (1), AA (1), AA- (10), A+ (5), A (3), A- (3), BBB+ (3)

Who supplies the bondsEach bond page says 'Powered by Yubi' (14 bonds) or 'Powered by Northern Arc' (12 bonds)

Minimum investmentListed bonds from about ₹986 to about ₹1.01 lakh; bond IPOs ₹10,000 (₹1,000 per unit)

Published bond feeNone — Groww's pricing page has no bond line

Scale~₹200 crore of bonds bought in July 2026 (NSE data via Moneycontrol); groww.in/bonds claims '₹500 Cr+ invested via bonds' and '50,000+ bond investors' (undated)

What you actually pay

Groww's pricing page lists brokerage for stocks, F&O and other products but has no line for bonds, and neither of its bond launch announcements mentions a fee. Bond IPO applications carry no brokerage, as with share IPOs.

For listed bonds, the industry model for online bond platforms is 'zero brokerage' with the platform's earning built into the price: a bond is sourced at one yield and offered to you at a slightly lower one. Groww does not disclose any such spread. There is a second layer to think about on Groww: each listed bond is 'powered by' Yubi or Northern Arc, so the price you see has passed through the supplier as well as Groww.

The practical check: before buying, compare the net YTM on Groww's order screen with what the same ISIN is offered at on the supplier's own platform (Aspero for Yubi bonds, AltiFi for Northern Arc bonds) and elsewhere. If Groww's yield is materially lower, that gap is what the convenience is costing you.

What it offers

Two live bond products. (1) Bond IPOs — public NCD issues you apply for in the Bonds section, ₹10,000 minimum, applications 10:00–17:00 on market days; on 25 Sep 2026 one issue was open (Edelweiss Financial Services) and seven recent issues were listed as closed. (2) Listed corporate bonds on the secondary market, launched in late May 2026 ('Explore and Invest in Bonds Anytime'): 26 bonds on 25 Sep 2026, dominated by NBFCs and microfinance lenders (IIFL Samasta, Muthoot Microfin, Kosamattam, Aye Finance, Keertana Finserv and others) plus a few corporates such as Adani Enterprises, Adani Airport Holdings and Dishman Carbogen Amcis. Each bond page shows YTM, coupon, clean and dirty price, payout schedule, trustee, the rating with the agency's rationale and the information memorandum. Not offered: G-secs, T-bills, SDLs, or new Sovereign Gold Bonds (no series is open).

Bond shelf snapshot

GrowwChecked 25 Sep 2026

26listed bonds

8.15–12.25%YTM range

₹986lowest minimum (up to ₹1,01,202)

AA+ × 1
AA × 1
AA- × 10
A+ × 5
A × 3
A- × 3
BBB+ × 3

Counted from the platform’s public listing page: groww.in/bonds/corporate-bonds. Yields are pre-tax and not guaranteed.

Returns: advertised vs reality

Advertised: Groww's bond pages show a yield to maturity for each bond — 8.15% to 12.25% across the listed shelf on 25 Sep 2026 — and its launch post pitches 'higher return potential than fixed deposits'.

The reality: These are pre-tax yields that assume the issuer pays every coupon and the principal on time. Most of the shelf is A- to AA-rated NBFC and microfinance paper, and three bonds are BBB+, so the higher yields are payment for real credit risk. Interest is taxed at your income-tax slab — a 12% yield is roughly 8.3% after tax in the 30% bracket — and 'fixed returns are not guaranteed returns'.

Payout & default track record

Too early to judge. Listed-bond buying on Groww only launched in late May 2026, and bond IPOs in July 2025. We found no reported default or payment delay on a Groww-listed bond as of 25 Sep 2026. Bonds settle into your own CDSL demat account and coupons come from the issuer, so a platform problem does not put the bonds themselves at risk — but an issuer default would, exactly as on any other platform.

Can you exit early?

Treat listed bonds bought on Groww as hold-to-maturity. Retail-sized corporate-bond lots trade thinly, and Groww's launch material describes buying, not a way to sell before maturity. Check the sell option in the app before you invest money you might need early.

Pros & cons

Strengths

SEBI-registered broker and online bond platform on both NSE and BSE; bonds settle into your own demat account.
Bonds sit inside the app many investors already use — no new account, KYC or wallet.
Each bond page shows the rating rationale, trustee and information memorandum, not just a headline yield.
Low entry on some listed bonds (from about ₹986).

Watch-outs

Small shelf: 26 listed bonds on 25 Sep 2026, mostly A- to AA- NBFC and microfinance paper — dedicated platforms list far more.
No published bond fee; any spread is undisclosed and sits on top of the supplier's (Yubi or Northern Arc).
No G-secs, T-bills or SDLs — use RBI Retail Direct or a broker that routes RBI auctions.
Only four months of track record on listed bonds.

Regulatory & material events

2025-05SEBI settlement over the January 2024 trading glitch

In May 2025 Groww paid ₹34.12 lakh to settle SEBI proceedings over its handling of a 23 Jan 2024 technical glitch that blocked trading for hours. Not bond-related.

2025-05SEBI settlement over stock-broker and AML lapses

In May 2025 Groww also paid ₹47.85 lakh to settle a separate SEBI show-cause notice (issued 25 Nov 2024) alleging violations of stock-broker regulations and anti-money-laundering guidelines. Not bond-related.

Alternatives to consider

AsperoYubi's own bond platform — the source of 14 of Groww's 26 listed bonds. Worth checking the same ISIN's yield there before buying on Groww.Wint WealthThe largest online bond platform by volume (~₹900 crore a month): a deeper, bonds-first shelf of secured NBFC and securitised bonds.IndiaBondsA broad listed-bond shelf including G-secs — the choice if you want more than Groww's 26 bonds.RBI Retail DirectFor government securities at auction prices with no fees — something Groww does not offer.

Compare Groww Bonds head-to-head

Groww vs Wint WealthGroww vs Wint Wealth for bonds: shelf size, yields, who supplies Groww's bonds, fees, minimums, scale and the regulatory record on each. Verified Sep 2026.Groww vs Stable MoneyGroww vs Stable Money for bonds and FDs: shelf, yields, who supplies Groww's bonds, fees, minimums, scale and the regulatory record on each. Verified Sep 2026.

Sources

This review is for information only and is not investment advice. Bond investments carry credit and liquidity risk; verify current details on the platform and check the issuer’s credit rating before investing. Facts last verified September 2026.

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Frequently asked

What people ask about Groww Bonds.

The platform is regulated: Groww Invest Tech is a SEBI-registered broker and online bond platform on NSE and BSE, and bonds settle into your own CDSL demat account. But the bonds carry real credit risk — most of the listed shelf is A- to AA-rated NBFC and microfinance paper, with three BBB+ bonds — and no corporate bond is capital-guaranteed. We found no reported default on a Groww-listed bond as of 25 Sep 2026, but the product is only four months old.

Every listed-bond page on Groww shows who powers it. On 25 Sep 2026, 14 of 26 bonds said 'Powered by Yubi' (the group behind Aspero) and 12 said 'Powered by Northern Arc' (which runs AltiFi). Groww distributes these bonds inside its app rather than originating them.

Groww publishes no bond fee. Bond IPO applications carry no brokerage. For listed bonds, platforms typically earn through a spread in the price rather than a commission; Groww does not disclose one. Compare the net YTM with the same bond on the supplier's platform before you buy.

Wint Wealth is the bigger, bonds-first platform (~₹900 crore of bond sales a month vs ~₹200 crore for Groww in July 2026) with a deeper shelf and a stated ~2% co-investment. Groww wins on convenience if you already use it. See our full Groww vs Wint Wealth comparison.

No. Groww has no route to buy G-secs, T-bills or SDLs, and no new Sovereign Gold Bond series is open. RBI Retail Direct sells government securities with no fees.

For listed bonds it ranged from about ₹986 to about ₹1.01 lakh on 25 Sep 2026, depending on the bond. Bond IPOs need ₹10,000 (₹1,000 per unit).