Is a 12% to 15% bond too good to be true?

Issuers pay what they must to borrow. A bond app showing 11% to 16% is usually listing companies that cannot borrow more cheaply, or bonds with features that make them worth less than the coupon suggests.

Where does the extra yield come from?

Source of yield	What to look for	Example on platforms
Weaker issuer credit	BBB or lower rating, negative outlook	Aspero listed Samunnati Finance at 10% and RDC Concreteindia at 12%, both BB+, on 17th Oct 2026
Split or stale ratings	More than one agency, Issuer Not Cooperating flags	Hella Infra Market at about 15% to 16% on Groww, Aspero, BondScanner and SMEST, showing Acuité's A- while India Ratings had it at B+ Issuer Not Cooperating from 1st Oct 2026
Lower ranking	Unsecured or subordinated	Satya MicroCapital's 14.20% subordinated debt, sold on IndiaBonds at 14.25% in Apr 2025; Satya later breached a net worth covenant
Structure	Securitised debt, lease or invoice pools	A Grip affiliate's lease pool rated CRISIL BB- (SO) in Mar 2025 after lessee defaults
Early repayment	Principal returned in instalments	TradingQnA users note the yield can look high while rupee returns are small
Liquidity	No sell feature, thin exchange trading	Jiraaf does not facilitate resale after purchase

Sources: Aspero, India Ratings, Groww listing, IndiaBonds archive, Satya annual report, CRISIL, TradingQnA, Jiraaf FAQ.

Does senior secured mean I can't lose money?

No. Senior secured is the label most 2026 forum posts about 12% bonds lean on (Reddit). It means bondholders hold a charge on specific assets and rank ahead of unsecured lenders, which helps recovery after a default. It does not stop the default, and recovery depends on what the assets fetch and how long enforcement takes. TruCap Finance NCDs sold through bond platforms went to CARE D on 18th Jul 2025 and were repaid about 10 weeks late with penal interest (CARE, Catalyst Trusteeship).

How can a yield look bigger than my income?

Put ₹1 lakh in a 2 year bond showing a 10% YTM that repays half the principal after year 1. You receive ₹60,000 after year 1 (₹10,000 interest and ₹50,000 principal) and ₹55,000 after year 2. The rate really is 10%, but total interest is ₹15,000. A 2 year bond paying 10% on the full ₹1 lakh until maturity pays ₹20,000. The yield is correct; your money is simply invested for less time.

What do the apps and the regulator say?

Wint's App Store listing advertises 9% to 12% fixed returns and Aspero's Play Store listing advertises 9% to 13% returns (App Store, Google Play). SEBI's Aug 2026 consultation on a new OBPP advertising code proposed barring high yield or high return claims without a basis and requiring a warning that fixed returns are not guaranteed (Business Today). SEBI's Nov 2025 caution against unregistered bond platforms followed newspaper ads promising unusually high guaranteed returns (Taxmann).

How should I read a 12% to 15% offer?

Check, in this order: the lowest rating and its date, secured or unsecured, senior or subordinated, and how you would sell before maturity. Then put the number after tax: in the 30% slab a 14% coupon is 9.8%, against 5.64% on an 8.05% RBI Floating Rate Savings Bond (RBI). Whether that gap pays for the risk is your call; see are corporate bonds safe and YTM vs coupon.