Midland Microfin
Midland Microfin is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 11%.
Data as of 20 Oct 2026
5% above face value
You pay ₹10,476 against a face value of ₹10,000, about 5% more. This bond pays no periodic interest, so the difference is interest that has accrued since issue and is returned to you at maturity. It is not a premium or a loss. Two things worth weighing: your capital at risk is the full ₹10,476, not the face value, and you receive no income until maturity.
How this yield compares
About this bond
Midland Microfin is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 11%. It pays a coupon of 12% and matures on 5 Sept 2027, a remaining tenure of about 11 mo. It is rated A-, an adequate credit-safety grade. WintWealth lists this bond with a minimum investment of ₹10K.
Its 11% yield is well above the market average, ranking 107th of 319 Corporate bonds we list. That is 0.50 percentage points above the Corporate median of 10.50% - a clear yield premium over the typical peer. Against a tenure-matched SBI fixed deposit (6.15%), it pays roughly 4.85 points more - a large gap that only makes sense once you are comfortable with the issuer's credit. Its short 11 mo horizon locks the rate for only a few years, limiting reinvestment risk. Paired with its high safety (A-) rating, that leans toward the safety-first end. Compare it against similar bonds on RightBonds before investing.
Investors comparing this bond often also look at Midland Microfin (INE884Q07822) at 9.5%, Hella Infra Market (INE06E507579) at 16% and Hella Infra Market Retail (INE0P6G07194) at 15.1%.
About Midland Microfin
Midland Microfin Limited is a Punjab-based microfinance lender operating 526 branches across 249 districts in 15 states and two union territories, with assets under management of Rs 2,340 crore as of September 2025. Its top five states still account for 79% of the book. Capitalisation is adequate, with a capital adequacy ratio of 33.37% and gearing of 3.7 times, supported by equity infusions of Rs 113 crore in FY25 and a further Rs 21.14 crore in the first half of FY26 from existing shareholders. The company is under strain: CARE carries a negative outlook on rising delinquencies and deteriorating asset quality that has hurt profitability, and the gross stressed book, which counts non-performing assets, security receipts and stage-two assets together, rose from 14.24% in March 2025 to 16.6% by September 2025. Fresh NPA additions were Rs 222 crore in FY25 and a further Rs 76 crore in the first half of FY26.
Bond details
What you keep after tax
Interest on a listed corporate bond is added to your income and taxed at your slab, so the 11% headline is a pre-tax number. Here is the same bond seen from each slab, on ₹1,00,000 held for the remaining 11 mo.
| Your tax slab | Post-tax yield | ₹1,00,000 becomes |
|---|---|---|
| No tax (income under the exemption limit) | 11.00% | ₹1,09,571 |
| 5% slab | 10.45% | ₹1,09,096 |
| 20% slab | 8.80% | ₹1,07,667 |
| 30% slab | 7.70% | ₹1,06,713 |
Slab rates only - surcharge and cess are not included, and the figures assume you hold to maturity. Sold on the exchange after 12 months instead, the gain is taxed as long-term capital gains at 12.5%. Not tax advice.
Against a fixed deposit, in rupees
Same ₹1,00,000, same 0.9 years, one in this bond and one in a tenure-matched SBI fixed deposit at 6.15%.
Bond figure compounds the yield annually; the FD compounds quarterly, as a cumulative bank FD does. Both are pre-tax and assume the bond is held to maturity and the issuer pays in full - the A- credit risk is the reason for the gap.
