How to buy bonds on icicidirect
Since we get a few questions about the mechanics of how to buy bonds that we offer from the CM Bond Desk, this post walks you through exactly that.
Click here to understand the basics of investing in bonds.
Now, you've decided bonds make sense for your portfolio. What next?
Buying bonds on icicidirect is a bit like going on a trek without a map, so this post will explain it step-by-painful-step.
Step 1 of 3: Check the CM Bonds Price List to see bonds on offer and their prices
You identify the Manappuram bond maturing in Nov 2025 as the right candidate for your portfolio at the stated yield of 10.60%
Note: We will already have placed the Sell order at the published price for all to see and buy.
Step 2 of 3: Submit intent to buy
If you know how, you can just log in to your trading account and buy them at this price directly. However, if you're not quite sure how, you can get some help from us.
On the same page, scroll down to the 'Contact us to buy' form and submit your details.
Soon after you submit, you receive an email from CM Bond Desk.
This email walks you through the next steps to execute the trade.
Step 3 of 3: Log into your icicidirect account and place buy order
Click on the 'FD/Bonds' link on the 'Trade & Invest' page
Under FD/Bonds, click on 'Buy NCD / Bond'
The 'NCD Stock List' page opens. Enter the ISIN in the Quick Search' Box
Entering the ISIN correctly shows the bond's name. The ISIN is on the price list published on the 'Price List'
Clicking the bond's name brings up the details page
Click 'Buy' to see the order details pop-up
Entering the price in the 'Limit Price' field shows you the yield at that price. Click 'Proceed to verify order' (see screenshot above)
Confirm quantity and price on the Order Details screen and click 'Buy Now'
We will have already placed the Sell order in the morning at the published price. You will get the bonds at or below the published price (whichever is lower) at the time.
You will get delivery of the bonds as per the exchange settlement timeline of T+2 days. That's it (phew)!
So that's how you buy bonds from the CM Bond Desk on icicidirect.
Any queries? Write to us at bonddesk [at] capitalmind [dot] in