Comparison

Stable Bonds vs The Bond Project

Stable Bonds markets zero brokerage but keeps bonds in a demat it opens and, per third parties, prices in a spread; The Bond Project adds no spread and uses your existing Zerodha demat.

Verified 17th Oct 2026

The team behind this site also builds The Bond Project. See disclosures.

Lean to Stable Bonds if

You already use Stable Money for FDs and want bonds in the same app.

Full Stable Bonds review

Lean to The Bond Project if

You want the exchange price and your bonds in your own Zerodha demat.

Full The Bond Project review

Side by side

	Stable Bonds	The Bond Project
Legal entity	Stable Broking Pvt Ltd (formerly Stable Wealth Pvt Ltd), CIN U65990KA2023PTC170330 source	Fortyglyph Private Limited (CIN U66190MH2026PTC471341) source
Group or backers	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	Founded by Rubin Talati, who earlier built the retail bond platform at Paytm Money source
SEBI registration	INZ000314637 (stock broker), NSE member 90363; CDSL DP registration INDP7912025 source	None. It is a data and order routing tool, not a broker, OBPP or adviser; execution, KYC and custody stay with your broker source
NSE OBPP status	Enabled since 20th Mar 2024 (list as on 14th Oct 2026) source	Not applicable: orders go to the exchange order book through your broker source
BSE OBPP status	Inactive: voluntary closure of OBPP business with effect from 27th Nov 2025 (BSE enabled 18th Oct 2023) source	Not applicable source
Where your bonds sit	In a demat Stable Broking opens and maintains for you with its own CDSL DP source	Your existing Zerodha demat. The Bond Project never holds your money or bonds source
Minimum investment	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	No platform minimum; you trade the exchange lot of each bond source
Fees and markup	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	₹100 for 30 days or ₹500 for 1 year, one-time, no autopay; no per-order fee and no spread. Your broker's brokerage and statutory charges apply source
Yield shown as	YTM source	Indicative YTM computed from the exchange price, pre-tax source
Selling before maturity	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	Sell on the exchange order book through your broker at any time it is open; a Liquidity Indicator shows how actively each bond has traded source
Settlement	NSE RFQ through the clearing corporation; funds go only to the clearing corporation account; T+ cycle not stated source	Exchange order book through Zerodha Kite; bonds settle into your own demat source
Credit range on shelf	Ratings not shown on homepage cards. Yields ran from 4.75% to 11.90% on 17th Oct 2026. source	No curated shelf: the full listed universe of 500+ government, corporate, gold and tax-free bonds, with ratings from CRISIL, CARE, ICRA and others source
NRI access	Not disclosed source	No. Residents of India aged 18 or over source
Play Store (India)	4.6 from 45,610 ratings (Stable Money app, FDs and bonds), read 17th Oct 2026 source	No app; web platform source
App Store (India)	4.73 from 4,320 ratings, read 17th Oct 2026 source	No app; web platform source
SEBI or exchange actions	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	None found; not a SEBI intermediary source

Same bonds, which one shows the higher yield?

12 bonds were on both. Stable Bonds showed the higher yield on 1, The Bond Project on 11. On average The Bond Project was 101 basis points higher. A higher yield on the same bond means a lower price. Read on 17th Oct 2026, 16th Oct 2026, 13th Oct 2026, 15th Oct 2026, 21st Sep 2026, 12th Oct 2026, 5th Oct 2026, 11th Sep 2026, 16th Sep 2026, 14th Oct 2026; quotes move daily, so check both apps before you buy.

Bond	Stable Bonds	The Bond Project	Higher
Finnable Credit · INE14H407157	11.55%	14.11%	The Bond Project
Muthoot Fincorp · INE549K07HK8	8.50%	10.96%	The Bond Project
IIFL Finance · INE530B07658	8.50%	10.14%	The Bond Project
Adani Enterprises · INE423A07484	8.45%	9.81%	The Bond Project
Muthoot Fincorp · INE549K07GT1	8.25%	9.23%	The Bond Project
Capri Global Capital · INE180C07171	8.55%	9.42%	The Bond Project
India Infrastructure Finance · INE787H07339	4.80%	5.60%	The Bond Project
HUDCO · INE031A07915	4.75%	5.51%	The Bond Project
Indian Railway Finance · INE053F07660	4.80%	5.47%	The Bond Project
REC Limited · INE020B07HP8	4.75%	4.29%	Stable Bonds
Adani Enterprises · INE423A07534	8.45%	8.80%	The Bond Project
Adani Enterprises · INE423A07435	8.45%	8.60%	The Bond Project

Every bond on both platforms, by company: prices.

How they differ

What you pay

Stable advertises zero brokerage; its T&C describe the strike-off additional YTM as a brokerage waiver, and third-party reviews say a spread is embedded in the price. The Bond Project charges ₹100 for 30 days or ₹500 for 1 year, with nothing added to the price.

Custody

Stable keeps bonds in a demat it opens with its own CDSL DP. The Bond Project uses the Zerodha demat you already have.

Selling

Stable markets sell anytime with zero exit fee, but its T&C say a sale is not guaranteed and a spread or penalty may apply. On The Bond Project you sell on the exchange order book.

Minimums

Stable is marketed at ₹100, but live minimums on 17th Oct 2026 were about ₹10,000 and ₹1 lakh.

Questions people ask

Is Stable Bonds really zero cost?

It charges no brokerage, but third-party reviews say a spread is embedded in the price, and its exit can carry a spread or penalty.

Where do bonds bought through The Bond Project sit?

In your existing Zerodha demat.