AAA-rated corporate bonds in India
AAA is the highest rating an Indian agency assigns. It signals the strongest assessed capacity to pay interest and principal on time: the agency sees the risk of default as the lowest it recognises. Ratings are agency opinions that can change over time, and a rating is not a guarantee of repayment. Our directory lists 2,953 AAA-rated bonds from 199 issuers, with indicative yields from 4.88% to 11.57% (median 7.71%).
- AAA-rated bonds
- 2,953
- Issuers
- 199
- Median indicative yield
- 7.71%
Largest AAA-rated issues
The 20 biggest AAA-rated bonds by issue size (a proxy for size and liquidity). Yields are indicative, computed from disclosed terms at face value.
| Issuer | Coupon | Indicative yield | Maturity | Issue size |
|---|---|---|---|---|
| HBHDFC Bank LimitedAAAINE040A08914 | 7.97% | 7.96% | 17 Feb 2033 | ₹25000 crore |
| RIReliance Industries LimitedAAAINE002A07809 | 7.79% | 7.78% | 10 Nov 2033 | ₹20000 crore |
| ABAditya Birla Capital LimitedAAAINE860H07IM9 | 7.90% | 7.88% | 8 Jun 2028 | ₹20000 crore |
| NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EG3 | 7.68% | 7.66% | 30 Apr 2029 | ₹16571.5 crore |
| NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EK5 | 7.44% | 7.40% | 24 Feb 2028 | ₹15994 crore |
| HBHDFC Bank LimitedAAAINE040A08427 | 7.86% | 7.85% | 2 Dec 2032 | ₹15000 crore |
| HBHDFC Bank LimitedAAAINE040A08666 | 7.80% | 7.79% | 3 May 2033 | ₹15000 crore |
| NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08DX0 | 7.58% | 7.31% | 31 Jul 2026 | ₹14624.25 crore |
| NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EO7 | 7.48% | 7.46% | 15 Sept 2028 | ₹14000 crore |
| NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EM1 | 7.53% | 7.49% | 24 Mar 2028 | ₹13912 crore |
| HBHDFC Bank LimitedAAAINE040A08AF2 | 7.75% | 7.75% | 13 Jun 2033 | ₹13187 crore |
| NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EF5 | 7.80% | 7.70% | 15 Mar 2027 | ₹12890 crore |
| ABAxis Bank LimitedAAAINE238A08484 | 7.88% | 7.87% | 13 Dec 2032 | ₹12000 crore |
| NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EL3 | 7.40% | 7.39% | 29 Apr 2030 | ₹11864 crore |
| NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EU4 | 7.44% | 7.44% | 17 Jul 2029 | ₹11515 crore |
| HBHDFC Bank LimitedAAAINE040A08807 | 8.00% | 8.00% | 27 Jul 2032 | ₹11000 crore |
| NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08DV4 | 7.62% | 7.57% | 31 Jan 2028 | ₹10267.5 crore |
| BOBank of BarodaAAAINE028A08380 | 7.10% | 7.09% | 5 Mar 2033 | ₹10000 crore |
| HBHDFC Bank LimitedAAAINE040A08633 | 7.18% | 7.17% | 10 Mar 2032 | ₹10000 crore |
| HBHDFC Bank LimitedAAAINE040A08963 | 7.05% | 7.04% | 1 Dec 2031 | ₹10000 crore |
- HBHDFC Bank LimitedAAAINE040A089147.96%Indicative yield
- Coupon
- 7.97%
- Maturity
- 17 Feb 2033
- Issue size
- ₹25000 crore
Taxable→ - RIReliance Industries LimitedAAAINE002A078097.78%Indicative yield
- Coupon
- 7.79%
- Maturity
- 10 Nov 2033
- Issue size
- ₹20000 crore
Taxable→ - ABAditya Birla Capital LimitedAAAINE860H07IM97.88%Indicative yield
- Coupon
- 7.90%
- Maturity
- 8 Jun 2028
- Issue size
- ₹20000 crore
Taxable→ - NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EG37.66%Indicative yield
- Coupon
- 7.68%
- Maturity
- 30 Apr 2029
- Issue size
- ₹16571.5 crore
Taxable→ - NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EK57.40%Indicative yield
- Coupon
- 7.44%
- Maturity
- 24 Feb 2028
- Issue size
- ₹15994 crore
Taxable→ - HBHDFC Bank LimitedAAAINE040A084277.85%Indicative yield
- Coupon
- 7.86%
- Maturity
- 2 Dec 2032
- Issue size
- ₹15000 crore
Taxable→ - HBHDFC Bank LimitedAAAINE040A086667.79%Indicative yield
- Coupon
- 7.80%
- Maturity
- 3 May 2033
- Issue size
- ₹15000 crore
Taxable→ - NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08DX07.31%Indicative yield
- Coupon
- 7.58%
- Maturity
- 31 Jul 2026
- Issue size
- ₹14624.25 crore
Taxable→ - NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EO77.46%Indicative yield
- Coupon
- 7.48%
- Maturity
- 15 Sept 2028
- Issue size
- ₹14000 crore
Taxable→ - NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EM17.49%Indicative yield
- Coupon
- 7.53%
- Maturity
- 24 Mar 2028
- Issue size
- ₹13912 crore
Taxable→ - HBHDFC Bank LimitedAAAINE040A08AF27.75%Indicative yield
- Coupon
- 7.75%
- Maturity
- 13 Jun 2033
- Issue size
- ₹13187 crore
Taxable→ - NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EF57.70%Indicative yield
- Coupon
- 7.80%
- Maturity
- 15 Mar 2027
- Issue size
- ₹12890 crore
Taxable→ - ABAxis Bank LimitedAAAINE238A084847.87%Indicative yield
- Coupon
- 7.88%
- Maturity
- 13 Dec 2032
- Issue size
- ₹12000 crore
Taxable→ - NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EL37.39%Indicative yield
- Coupon
- 7.40%
- Maturity
- 29 Apr 2030
- Issue size
- ₹11864 crore
Taxable→ - NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08EU47.44%Indicative yield
- Coupon
- 7.44%
- Maturity
- 17 Jul 2029
- Issue size
- ₹11515 crore
Taxable→ - HBHDFC Bank LimitedAAAINE040A088078.00%Indicative yield
- Coupon
- 8.00%
- Maturity
- 27 Jul 2032
- Issue size
- ₹11000 crore
Taxable→ - NBNational Bank for Agriculture and Rural DevelopmentAAAINE261F08DV47.57%Indicative yield
- Coupon
- 7.62%
- Maturity
- 31 Jan 2028
- Issue size
- ₹10267.5 crore
Taxable→ - BOBank of BarodaAAAINE028A083807.09%Indicative yield
- Coupon
- 7.10%
- Maturity
- 5 Mar 2033
- Issue size
- ₹10000 crore
Taxable→ - HBHDFC Bank LimitedAAAINE040A086337.17%Indicative yield
- Coupon
- 7.18%
- Maturity
- 10 Mar 2032
- Issue size
- ₹10000 crore
Taxable→ - HBHDFC Bank LimitedAAAINE040A089637.04%Indicative yield
- Coupon
- 7.05%
- Maturity
- 1 Dec 2031
- Issue size
- ₹10000 crore
Taxable→
Showing the 20 largest of 2,953 AAA-rated bonds. Browse AAA bonds in the directory →
Frequently asked questions
What does the AAA grade mean?
AAA is the highest rating an Indian agency assigns. It signals the strongest assessed capacity to pay interest and principal on time: the agency sees the risk of default as the lowest it recognises. Ratings are agency opinions that can change over time, and a rating is not a guarantee of repayment.
How many AAA-rated corporate bonds are there in India?
Our directory lists 2,953 AAA-rated bonds from 199 issuers, based on depository disclosures. This covers the broader rated market, not only the best-issuer set the directory browses by default.
What yields do AAA-rated bonds offer?
Indicative yields can be computed for 2,731 of these bonds; they range from 4.88% to 11.57% with a median of 7.71%. These are computed from each bond's disclosed terms at face value (actual traded prices, and therefore actual yields, differ).
Who issues AAA-rated bonds?
The most frequent AAA-rated issuers in our data are Power Finance Corporation Limited, Indian Railway Finance Corporation Limited, REC Limited, National Bank for Agriculture and Rural Development. The list below ranks the largest individual issues by issue size.
How fresh is this data?
Everything on this page derives from depository disclosures and the most conservative current agency grade for each bond. Figures update when the dataset refreshes, no number here is estimated or filled in.