Manba Finance Mar ’28
Manba Finance Mar ’28 is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 11.1%.
Data as of 26 Oct 2026
39% below face value
You pay ₹60,658 against a face value of ₹1,00,000, about 39% less. The bond trades at a discount to face, and that gap is your return, realised as a lump sum at maturity rather than as periodic interest.
How this yield compares
About this bond
Manba Finance Mar ’28 is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 11.1%. It pays a coupon of 11% and matures on 13 Mar 2028, a remaining tenure of about 1.4 yr. It is rated A-, an adequate credit-safety grade. BondScanner lists this bond with a minimum investment of ₹61K.
Its 11.1% yield is well above the market average, ranking 97th of 315 Corporate bonds we list. That is 0.70 percentage points above the Corporate median of 10.40% - a clear yield premium over the typical peer. Against a tenure-matched SBI fixed deposit (6.50%), it pays roughly 4.60 points more - a large gap that only makes sense once you are comfortable with the issuer's credit. Its short 1.4 yr 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 Manba Finance (INE939X07283) at 11.05%, Manba Finance (INE939X07192) at 11% and Manba Finance (INE939X07267) at 10.8%.
About Manba Finance
Manba Finance Limited is a two-wheeler financier that commenced operations in 1996 and has since built relationships with more than 1,250 dealers, including over 60 electric vehicle dealers, across 73 locations in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Uttar Pradesh and Madhya Pradesh. Two-wheeler loans made up 85.43% of the portfolio as on March 31, 2025, down from 95.30% in FY23 as the company diversified into used vehicles, electric three-wheelers, small business loans and top-up personal loans. CARE's rating notes comfortable capitalisation and a track record of recovery through repossession, against moderate asset quality and geographic and product concentration.
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 11.1% headline is a pre-tax number. Here is the same bond seen from each slab, on ₹1,00,000 held for the remaining 1.4 yr.
| Your tax slab | Post-tax yield | ₹1,00,000 becomes |
|---|---|---|
| No tax (income under the exemption limit) | 11.10% | ₹1,15,630 |
| 5% slab | 10.54% | ₹1,14,834 |
| 20% slab | 8.88% | ₹1,12,455 |
| 30% slab | 7.77% | ₹1,10,876 |
At a 11% coupon, ₹1,00,000 of face value pays about ₹11,000 of interest a year. That is over the ₹10,000 Section 193 threshold, so roughly ₹1,100 a year is withheld as TDS - adjustable against your final liability, not an extra tax.
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 1.4 years, one in this bond and one in a tenure-matched SBI fixed deposit at 6.50%.
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.
When you get paid
Interest lands 4 times a year, in Mar, Jun, Sep, Dec, with about 6 payments still to come before 13 Mar 2028, each at the 11% coupon rate.
Payment months come from the issuer's schedule. Exact dates within the month, and the amount per payment, depend on the face value of the units you buy - check the term sheet on BondScanner before investing.
