Broker app Not an OBPP
Fyers review
Fyers is one of two brokers in our research, with Zerodha, that charge no brokerage on G-sec, T-bill and SDL bids, and it publishes exact cut-off times for each auction. It does not sell corporate bonds through an OBPP, and selling before maturity costs ₹20 or 0.3% of the trade, whichever is lower, plus DP charges.
Verified
Fyers official site We earn nothing from this link.
Key facts
- Legal entity
- Not captured in our research source
- Group or backers
- Not verified in our research source
- SEBI registration
- Stock broker; registration number not captured in our research. Fyers is not an OBPP on either exchange list source
- NSE OBPP status
- Not on the NSE list (as on 14th Oct 2026) source
- BSE OBPP status
- Not on the BSE list (file dated 24th Sep 2026) source
- Corporate bonds via RFQ
- No: not a registered OBPP source
- Listed bonds on the exchange order book
- Not verified source
- NCD IPOs
- Not verified source
- G-sec, T-bill and SDL bids
- Yes; no brokerage or commission on applications (support article last updated 24th Sep 2026) source
- SGBs
- Not verified source
- Where your bonds sit
- Not stated in the articles we read source
- Minimum investment
- Not stated in the Fyers article; brokers quote ₹10,000 face value for non-competitive bids source
- Fees and markup
- Bids: ₹0. Selling before maturity: ₹20 or 0.3% delivery brokerage, whichever is lower, plus DP charges source
- DP charge when you sell
- Charged on sale; amount not captured in our research source
- Yield shown as
- Not stated source
- Selling before maturity
- Sell on the exchange at ₹20 or 0.3% brokerage, whichever is lower, plus DP charges source
- Settlement
- G-secs auction Fri, settle Mon; T-bills auction Wed, settle Thu; SDLs auction Tue, settle Wed source
- Credit range on shelf
- Not applicable: government securities only source
- NRI access
- Via NRO non-PIS account reported source
- Play Store (India)
- Not verified source
- App Store (India)
- Not verified source
- SEBI or exchange actions
- None bond specific found in our research source
Sells: G-secsT-billsSDLs
Suits
- Bidding for T-bills, G-secs and SDLs without a fee
- Investors who want clear bid cut-off times
- Pledging G-secs and T-bills as margin
Watch out for
- No corporate bond platform
- Selling before maturity costs up to ₹20 brokerage plus DP charges
- SDLs not accepted for pledge
What does Fyers charge for government bonds?
Nothing to bid. Fyers charges no brokerage or commission for applying to G-secs, T-bills or SDLs (Fyers support). If you sell before maturity, Fyers charges delivery brokerage of ₹20 or 0.3%, whichever is lower, plus DP charges. Held to maturity, the security is redeemed with no sale.
| Route | Fee on a primary bid |
|---|---|
| Fyers | ₹0 |
| Zerodha | ₹0 since 1st Mar 2024 |
| RBI Retail Direct | ₹0 (payment gateway charges extra) |
| Upstox, HDFC Sky | 0.06% of allotment plus GST |
When can you place a bid on Fyers?
Each security type has its own window, per Fyers' support article last updated 24th Sep 2026 (Fyers support):
| Security | Bid window | Auction | Settlement |
|---|---|---|---|
| G-secs | Tue 10:00 to Thu 16:00 | Fri | Mon |
| T-bills | Mon 10:00 to Tue 17:00 | Wed | Thu |
| SDLs | Mon 10:00 to 17:00 | Tue | Wed |
Broker cut-offs sit ahead of RBI's auction so the exchange can pool bids; other brokers' windows may differ. More on timing in how to buy T-bills.
Can you pledge government bonds bought on Fyers?
G-secs and T-bills, yes; SDLs, no. A Fyers support article of 25th Sep 2025 says G-secs and T-bills can be pledged as collateral and SDLs are not accepted (Fyers support). The same article says NRIs can invest through an NRO non-PIS account. Both points come from a search summary of the article rather than a full read.
Can you buy corporate bonds on Fyers?
Not through a bond platform. Fyers is on neither NSE's nor BSE's OBPP list as of Oct 2026 (NSE list; BSE list). Whether it offers listed NCDs on the exchange order book or NCD IPO applications was not verified. For corporate bonds, compare broker apps that are enabled OBPPs, such as Groww, or the specialist platforms.
Questions people ask
Does Fyers charge for T-bill bids?
No. Fyers charges no brokerage or commission for applying to G-secs, T-bills or SDLs.
What does it cost to sell a G-sec on Fyers before maturity?
Delivery brokerage of ₹20 or 0.3% of the trade, whichever is lower, plus DP charges.
When is the T-bill bid window on Fyers?
Monday 10:00 to Tuesday 17:00, for the Wednesday auction, with settlement on Thursday, per Fyers' article updated 24th Sep 2026.
Can I pledge SDLs on Fyers?
No. Fyers accepts G-secs and T-bills for pledge but not SDLs, per its support article of 25th Sep 2025.