Stable Bonds review

Is Stable Bonds safe?

Stable Bonds is run by Stable Broking Pvt Ltd, a SEBI registered stock broker (INZ000314637) enabled as an online bond platform on NSE since 20th Mar 2024, and no SEBI order against it was found as of 17th Oct 2026. Check it on the registry. It is a different company from Stable Investments (Berkelium Technologies), which SEBI named in its 18th Nov 2024 interim order against unregistered platforms. Registration covers the platform, not the issuers (are bond platforms safe).

Stable Bonds claims ₹18,59,92,66,630+ (about ₹1,860 cr) repaid with zero defaults on its platform since 2024 (self-reported, read on 17th Oct 2026). Its homepage cards do not show ratings; from about 21st Nov 2026 SEBI's Credit Risk-o-Meter must show the lowest available rating on each listing. Stable hosts the information memorandum of Satya MicroCapital's 10.40% NCD on its own server, though no product page was found; Satya's FY26 audit carries a going-concern qualification, and all coupons were paid through 12th Oct 2026.

Outside bonds, AMFI reportedly suspended the group's mutual fund distribution from 21st May to 20th Nov 2026; the company did not confirm AMFI's role, and a third-party review reports reinstatement around 3rd Aug 2026.

What do you actually pay on Stable Bonds?

Stable charges no brokerage, and third-party reviews say its margin sits in the price. Stable advertises zero brokerage, and its T&C say the additional YTM shown with a strike-off is provided via brokerage waiver. Third-party reviews (KnowYourBrokerage, and The Alt Investor around Apr 2025) say Stable buys bonds and resells them at a price with an embedded spread that is not itemised, so the YTM shown is net of it; this is not a company statement. On FDs, partner banks and NBFCs pay Stable a commission.

A Reddit thread in Aug 2026 asked why the same bond showed different YTMs on Stable Money and Wint Wealth (same bond, different yield, Stable Bonds vs Wint Wealth).

Can you sell Stable bonds before maturity?

Sometimes, but not on demand. The homepage promises selling anytime with zero exit fee, while the T&C say a sale is "not guaranteed and depends on the availability of the buyer in the market". They also allow lock-ins on some bonds at Stable Broking's sole discretion, say a spread or penalty can apply once a zero-penalty period after purchase ends, require a DDPI, and let Stable disable Withdraw Anytime on negative issuer news or near a record date. An Auto-Sell feature can schedule a secondary market sale before maturity. See can I sell a bond before maturity.

Where do your bonds sit?

In a CDSL demat that Stable Broking opens and maintains for you through its own depository participant (DP registration IN-DP-791-2025); it is also an NSE clearing member (M70116). Trades are negotiated on the clearing corporations' RFQ platform, and money goes only to the clearing corporation's account by RTGS or NEFT. Users on TradingQnA report that holding a second demat can end BSDA eligibility; see do I need a new demat for every platform and are the bonds in my own demat.

What kind of bonds does it sell?

Over 100 listed bonds on 17th Oct 2026: corporate NCDs, mostly from NBFC and microfinance issuers, SDLs of Gujarat, Karnataka and Andhra Pradesh, a Government of India bond, and low-yield PSU bonds from IRFC, HUDCO, REC and IIFCL at 4.75% to 4.80%. The top of the range was Sindhuja Microcredit at 11.90%, with Kissht (Si Creva) at 11.65% and Finnable Credit at 11.55%. A third-party review says unlisted NCDs, MLDs and SDIs are not offered. The Stable Money app adds FDs from partners including Unity, Shivalik, Suryoday, Utkarsh, Ujjivan, IndusInd, Bajaj Finance and Shriram Finance.

The marketing says start with ₹100, but live minimums were about ₹10,000 on ₹10,000 face value bonds (Saarathi Finance ₹9,965, Keertana Gold ₹10,051) and about ₹1 lakh on others (minimum investment).

Why did Stable Bonds leave BSE, and how big is it?

BSE lists Stable Broking as Inactive after a voluntary closure of its OBPP business with effect from 27th Nov 2025, and Stable's own footer marks its BSE member code 6829 as inactive. It did not shut its bond business: it still runs on NSE, where it was listed as enabled on 14th Oct 2026. No reason for leaving BSE has been published, and its T&C and a Stable Money blog still describe BSE membership.

Scale claims conflict: more than 40 lakh users in Feb 2026 (Entrepreneur), over 50 lakh investors claimed in Feb 2026 (Inc42), and 60 lakh+ customers on the homepage in Oct 2026, all across FDs and bonds (self-reported, read on 17th Oct 2026). Stable has raised about $65 mn in all, including a $25 mn pre-Series C led by Peak XV in Feb 2026 at a $175 mn valuation.