Buying bonds
Can NRIs buy bonds in India?
Yes, through some channels: RBI Retail Direct accepts non-residents who are eligible under FEMA 1999 for G-secs, T-bills, SDLs and SGBs, and IndiaBonds advertises NRI access, while Grip Invest and Jiraaf do not accept NRIs. Rules differ by platform, product and account type (NRO, NRE, PIS or non-PIS), and this site has not verified each platform's NRI terms, so confirm with the platform before you open an account.
Verified
NRIs can buy some Indian bonds, but access depends on the channel and the product. RBI's own retail platform accepts eligible non-residents, a few bond platforms advertise NRI access, and at least 2 refuse NRIs outright.
What does each channel say about NRIs?
| Channel | What it says about NRIs | Source |
|---|---|---|
| RBI Retail Direct | Non-residents eligible under FEMA 1999 can open an account; needs a rupee savings account in India, PAN and KYC | RBI |
| IndiaBonds | Advertises NRI and HUF access | IndiaBonds |
| Bonds Kart | Has a category of NRI eligible bonds | Bonds Kart |
| SMEST | FAQ index includes a section on NRI investing; answers could not be read | SMEST |
| Fyers | NRIs through an NRO non-PIS account, per a support article read via a search summary | Fyers |
| Zerodha | Its G-sec help section has an NRI eligibility article | Zerodha support |
| Altifi | FAQ lists a question on NRI investing; answer not read | Altifi |
| Grip Invest | NRIs are not allowed | Grip |
| Jiraaf | Indian citizens only; no NRIs and no minors | Jiraaf |
| Wint Wealth | Not disclosed in the pages we read | Not disclosed |
All rows read on 17th Oct 2026. A platform that is silent on NRIs has not been confirmed either way.
What should an NRI check before opening an account?
- Account type. Ask whether the platform needs an NRO or NRE bank account, and whether the demat must be PIS or non-PIS. Fyers, for example, says NRIs use an NRO non-PIS account.
- Product. Being accepted as a customer does not mean every bond on the shelf is open to you. Ask about the specific bond type: corporate NCD, G-sec, SGB, tax-free or 54EC.
- Demat. Several platforms open their own demat for you. Check whether that demat can be an NRI demat, and whether you can use one you already hold.
- Tax deducted at source. Ask what rate the issuer will deduct on your interest. This site has not verified non-resident TDS rates for bonds.
- Repatriation. Ask whether maturity and sale proceeds can be credited to your NRE account or only to NRO.
Which bonds do NRIs ask about most?
Google autocomplete for "can nri invest in bonds" returns 10 variants, covering corporate bonds, government bonds, gold bonds, RBI bonds, tax-free bonds, REC bonds, 54EC bonds and buying through Wint Wealth (Google autocomplete). "tds on bonds for nri" is a separate suggestion (Google autocomplete). Forum posts ask the same thing in plain terms, such as whether NRIs can invest in government bonds from an NRI account (Reddit). None of these demand signals settle the answer for a given platform; only the platform's own terms and your bank can.
Where do I go next?
For government securities, RBI Retail Direct is the one channel that states non-resident eligibility in a primary RBI document. For corporate bonds, the best for NRI investors page lists the platforms that state NRI access, alphabetically and with their stated conditions.