Recently, we have seen some public issues of non-convertible debentures (NCDs) offering monthly interest payouts. For example, in June 2023, IIFL Finance offered five-year NCDs bearing 8.65 percent interest with monthly payouts. Earlier in March, NCDs issued by Indiabulls Housing Finance offered to pay interest at monthly intervals. The NCDs of 24- and 36-month tenures offered interest rates of 9.64 percent and 9.89 percent, respectively.
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