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Bonds & Debentures

Bonds and Debentures in essence are the same. In India they are used interchangeably.

Bond means Security issued by a Company, Financial Institution or Government, which offers regular or fixed payment of interest in return for borrowed money for a certain period of time.

A debenture is a debt paper issued by a company with the aim of raising money from the public. It has a specified tenure and offers a fixed interest rate called coupon. A debenture is not secured by specific assets, but rather by the general credit of the corporation.