Comparison

Jiraaf vs Stable Bonds

Jiraaf uses your existing demat and offers no exit route; Stable Bonds opens its own demat and offers a conditional sell route. Both show the platform sets the yield: Jiraaf pays more for larger quantities and Stable shows a brokerage waiver strike-off.

Verified 17th Oct 2026

Lean to Jiraaf if

You want bonds in your existing demat, or securitised debt and T-bills, and plan to hold to maturity.

Full Jiraaf review

Lean to Stable Bonds if

You want a sell route and PSU or state government bonds next to corporate bonds.

Full Stable Bonds review

Side by side

	Jiraaf	Stable Bonds
Legal entity	Jiraaf Platform Pvt Ltd source	Stable Broking Pvt Ltd (formerly Stable Wealth Pvt Ltd), CIN U65990KA2023PTC170330 source
Group or backers	Founded 2021 by Saurav Ghosh and Vineet Agrawal; backers include Accel and Harmony Ventures. The App Store seller is AI Growth Pvt Ltd, owner of altGraaf. source	Wholly owned subsidiary of Stable-Alpha Technologies Pvt Ltd (Stable Money). $25 mn pre-Series C led by Peak XV in Feb 2026; founders Saurabh Jain and Harish Reddy. source
SEBI registration	INZ000315538 (stock broker), NSE member 90355, BSE member 6835 source	INZ000314637 (stock broker), NSE member 90363; CDSL DP registration INDP7912025 source
NSE OBPP status	Enabled since 12th Dec 2023 (list as on 14th Oct 2026) source	Enabled since 20th Mar 2024 (list as on 14th Oct 2026) source
BSE OBPP status	Active since 16th Dec 2025 source	Inactive: voluntary closure of OBPP business with effect from 27th Nov 2025 (BSE enabled 18th Oct 2023) source
Where your bonds sit	In your own existing demat at any DP source	In a demat Stable Broking opens and maintains for you with its own CDSL DP source
Minimum investment	About ₹1,000, varying by product source	Marketed as ₹100; live minimums on 17th Oct 2026 were about ₹10,000 (₹9,965 to ₹10,074) on some bonds and about ₹1 lakh on others source
Fees and markup	No service or platform fee at present; T&C reserve a fee above a threshold. Yield is tiered by quantity, spread not disclosed. source	Zero brokerage advertised; strike-off additional YTM is a brokerage waiver per T&C. Third-party reviews say a spread is embedded in the price. source
Yield shown as	YTM for bonds (tiered by units bought); IRR for SDIs source	YTM source
Selling before maturity	No exit facility: Jiraaf does not help liquidate after purchase; you must find a buyer yourself source	Marketed as sell anytime with zero exit fee; T&C say a sale is not guaranteed, some bonds have lock-ins, and a spread or penalty may apply after a zero-penalty period source
Settlement	T+1 for orders placed 00:00 to 15:30, T+2 for orders placed 15:45 to 23:59; UPI or net banking source	NSE RFQ through the clearing corporation; funds go only to the clearing corporation account; T+ cycle not stated source
Credit range on shelf	Lowest grade not disclosed. Corporate bonds at 8% to 14%, SDIs at 8% to 15% IRR. source	Ratings not shown on homepage cards. Yields ran from 4.75% to 11.90% on 17th Oct 2026. source
NRI access	Not allowed (Indian citizens only, no minors) source	Not disclosed source
Play Store (India)	4.6 from 875 ratings, read 17th Oct 2026 source	4.6 from 45,610 ratings (Stable Money app, FDs and bonds), read 17th Oct 2026 source
App Store (India)	4.41 from 164 ratings, read 17th Oct 2026 source	4.73 from 4,320 ratings, read 17th Oct 2026 source
SEBI or exchange actions	None against Jiraaf Platform found. Sister company AI Growth Pvt Ltd (altGraaf) was named in SEBI's interim order of 18th Nov 2024; no final order found. source	No SEBI order against Stable Broking found as of 17th Oct 2026. Not the Stable Investments (Berkelium Technologies) named in SEBI's Nov 2024 interim order. source

Same bonds, which one shows the higher yield?

8 bonds were on both. Jiraaf showed the higher yield on 6, Stable Bonds on 0, and 2 were level. On average Jiraaf was 39 basis points higher. A higher yield on the same bond means a lower price. Read on 17th Oct 2026; quotes move daily, so check both apps before you buy.

Bond	Jiraaf	Stable Bonds	Higher
Muthoot Capital Services Ltd · INE296G07325	9.75%	8.45%	Jiraaf
Profectus Capital Private Limited · INE389Z07070	10.60%	10.00%	Jiraaf
Aye Finance Private Limited · INE501X07729	10.00%	9.50%	Jiraaf
Navi Finserv Limited · INE342T07544	10.30%	10.00%	Jiraaf
Earlysalary Services Private Limited · INE01YL07417	11.15%	10.90%	Jiraaf
Share India Securities Ltd · INE932X07056	up to 10.80%	10.60%	Jiraaf
Arman Financial Services Limited · INE109C07147	up to 11.30%	11.30%	Level
Aye Finance Private Limited · INE501X07745	up to 10.40%	10.40%	Level

Every bond on both platforms, by company: prices.

How they differ

Custody

Jiraaf credits bonds to your own demat at any depository participant. Stable opens a CDSL demat through its own depository participant.

Exit

Jiraaf's FAQ says it does not facilitate liquidation after purchase. Stable promises selling anytime with zero exit fee, subject to a buyer, lock-ins it may set, a penalty-free window after which a spread or penalty may apply, and a DDPI.

Yield setting

Jiraaf's Invest More, Earn More feature pays 12.00% YTM for 1 unit and 12.50% for 5 or more in its example. Stable shows a struck-off Additional YTM that its terms say comes from a brokerage waiver. Jiraaf charges no fee today but reserves the right to; Stable advertises zero brokerage. Neither publishes a spread.

Shelf

Jiraaf sells corporate bonds (8% to 14%), securitised debt (8% to 15%), G-secs and T-bills. Stable lists PSU, state government and NBFC or MFI bonds from 4.75% to 11.90%. Neither publishes its lowest rating.

Eligibility

Jiraaf accepts Indian citizens only, with no NRIs or minors. Stable's NRI terms were not verified.

Names in SEBI's 2024 order

Both names come up around SEBI's interim order of 18th Nov 2024 on unregistered platforms, but neither OBPP entity was a noticee. The order named altGraaf, owned by AI Growth Pvt Ltd, which is the App Store seller of Jiraaf's app, and Stable Investments (Berkelium Technologies), which is unrelated to Stable Broking. No penalty was found against Jiraaf Platform or Stable Broking.

Exchanges

Jiraaf is enabled on NSE (12th Dec 2023) and BSE (16th Dec 2025). Stable is enabled on NSE (20th Mar 2024) and closed its BSE OBPP business from 27th Nov 2025.

Questions people ask

Which one lets me sell before maturity?

Stable offers a sell route with conditions, including a possible spread or penalty after the penalty-free window. Jiraaf does not facilitate liquidation after purchase.

Was Stable Bonds or Jiraaf named in SEBI's 2024 order?

Neither OBPP entity was a noticee. The order named Stable Investments, a different company, and altGraaf, which is owned by the App Store seller of Jiraaf's app.

Do I keep my existing demat on Jiraaf or Stable Bonds?

On Jiraaf, yes. Stable opens its own CDSL demat for you.