Exchange order tool
The Bond Project review
The Bond Project sells no bonds of its own, so the price it shows is the exchange price with nothing built in; you pay a flat ₹100 for 30 days and your broker's charges instead of a spread you cannot see. The catches: it works only with Zerodha today, it is residents only, and exchange liquidity in many corporate bonds is thin.
Verified
The Bond Project official site
The team behind this site also builds The Bond Project. See disclosures.
Key facts
- Legal entity
- Fortyglyph Private Limited (CIN U66190MH2026PTC471341) source
- Group or backers
- Founded by Rubin Talati, who earlier built the retail bond platform at Paytm Money source
- SEBI registration
- 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
- Not applicable: orders go to the exchange order book through your broker source
- BSE OBPP status
- Not applicable source
- Where your bonds sit
- Your existing Zerodha demat. The Bond Project never holds your money or bonds source
- Minimum investment
- No platform minimum; you trade the exchange lot of each bond source
- Fees and markup
- ₹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
- Indicative YTM computed from the exchange price, pre-tax source
- Selling before maturity
- 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
- Exchange order book through Zerodha Kite; bonds settle into your own demat source
- Credit range on shelf
- 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
- No. Residents of India aged 18 or over source
- Play Store (India)
- No app; web platform source
- App Store (India)
- No app; web platform source
- SEBI or exchange actions
- None found; not a SEBI intermediary source
Sells: Corporate bondsG-secsSDLsSGBsTax-free bonds
Suits
- Investors who want to see the price the market is actually trading at before they buy
- Anyone holding several bond apps who wants holdings, cash flows and yields in one view
- Zerodha users who want bonds in the demat they already have
Watch out for
- Works with Zerodha only today; other brokers are listed as in progress
- A subscription fee, even in months you do not trade
- Many corporate bonds trade rarely on the exchange, so a bond you want may have no seller that day
- No new NCD issues: it covers the secondary market only
- Not available to NRIs
How is The Bond Project different from a bond platform?
A bond platform such as an OBPP usually sells you a bond from its own stock through the exchange RFQ platform, and its margin sits inside the price. The Bond Project holds no stock. It reads the exchange order book, shows the best bid and ask with depth, and sends your order to your own broker. The price you see is what other investors on the exchange are quoting, and nothing is added to it.
This matters because SEBI's disclosure list for online bond platforms covers clean price, dirty price and YTM, but has no line for the platform's own spread. See why the same bond shows a different yield on two apps.
What do you actually pay?
₹100 for 30 days or ₹500 for 1 year, paid once, with no autopay. There is no per-order fee from The Bond Project and no spread. Your broker's brokerage and statutory charges apply; Zerodha charges no brokerage on bond purchases on Kite, but exchange charges, stamp duty and a DP charge when you sell still apply. See the Zerodha profile.
There is a 7-day refund window from the date of payment. Over a year, the subscription is ₹500. On a ₹5 lakh bond holding, a platform spread of 0.5% would cost about ₹2,500 on the way in, though no platform publishes its actual spread.
Where do your bonds sit?
In your existing Zerodha demat, next to your shares. The Bond Project connects to Zerodha through Kite's own login page, never sees your broker password, and can only read holdings and submit orders you place. It cannot move money or securities. If you stop paying, the bonds stay in your demat. If The Bond Project shut down, nothing about your holdings would change, which is not the case for a platform that runs its own depository account and an in-app sell-back. See what happens if a platform shuts down.
What can you buy and what can't you?
Listed government securities, SDLs, corporate bonds and NCDs, Sovereign Gold Bonds and tax-free bonds: the 500+ bonds that trade on the exchange. It does not offer new NCD issues, and it does not sell from any curated shelf, so you see every listed bond, including low rated ones. Ratings from each agency are shown so you can read the lowest one.
The main limit is liquidity. Many corporate bonds trade a few times a month, so the order book may be empty when you want to buy. A Liquidity Indicator per bond shows how actively it has traded.
Is The Bond Project SEBI registered?
No, and it does not need to be for what it does: it is a data and order routing tool, not a broker, OBPP, investment adviser or research analyst. Execution, settlement, KYC and custody all happen at your broker, which is SEBI registered. Complaints about an executed trade go to the broker first and then to SEBI SCORES.
Questions people ask
Does The Bond Project add a spread to bond prices?
No. It sells no bonds of its own; it shows the exchange order book and sends your order to your own broker, so the price is the exchange price. Its only charge is the subscription.
How much does The Bond Project cost?
₹100 for 30 days or ₹500 for 1 year, paid once with no autopay, plus your broker's own charges. There is a 7-day refund window.
Which brokers does The Bond Project work with?
Zerodha only, as of 17th Oct 2026. Other brokers are listed as in progress.
Can NRIs use The Bond Project?
No. It is open to residents of India aged 18 or over.