Fixed Income Comparator
Every mainstream Indian fixed income option on one post-tax footing. Headline rates rank one way and post-tax returns rank another, and the caps and lock-ins decide more of the answer than either. Enter your numbers and read the constraint columns, not just the top row.
Your situation
Post-tax comparison
| Option | Post-tax | Headline | Fits | Lock / tenor | Payout | Credit |
|---|
Post-tax rate is the headline rate net of your slab plus 4% cess, except PPF, which is exempt. Rates are current headline levels, not offers. Section 80TTB (₹50,000 of interest, for 60+) is not modelled. Nothing here is a recommendation: read lock-in, payout and credit alongside the rate.
Why headline rates mislead
Almost every "best fixed income investment" list in India ranks by headline rate. That ranking is wrong for anyone paying tax, because these instruments are taxed differently and the gap is large enough to reverse the order.
Take the two most-searched options on this page. The RBI Floating Rate Savings Bond pays 8.05% and PPF pays 7.1%, so the bond looks better by nearly a full point. At the 30% slab the bond's interest is taxed at 31.2% and PPF's is not taxed at all, so the real comparison is about 5.5% against 7.1%. The ranking doesn't narrow, it inverts.
At a 5% slab it inverts back. There is no universal answer, which is exactly why the tool asks for your slab first.
The three constraints that usually decide it
Caps. The highest-paying options are mostly capped. SCSS stops at ₹30 lakh and needs you to be 60. Post Office Monthly Income Scheme stops at ₹9 lakh for a single account, ₹15 lakh joint, counted per person including your share of any joint account. PPF takes ₹1.5 lakh a financial year. For a large sum, the question becomes which combination fits rather than which rate wins.
Lock-in. FRSB locks for seven years with no exit before 60. SCSS, NSC and POMIS run five. A G-sec has no lock at all because you can sell it, though the price you get moves with yields. Money you might need is worth less in a locked instrument however good the rate looks.
Payout shape. If you need income, frequency matters more than rate. POMIS is the only government small-savings product that pays monthly, though a bank FD can be taken with a monthly payout option and some NCD issues carry a monthly series. SCSS pays quarterly, FRSB half-yearly on 1 January and 1 July, G-secs half-yearly on their own schedule, and T-bills, NSC and KVP pay nothing until maturity. A high rate that pays twice a year does not solve a monthly income problem.
What this tool does not do
It doesn't tell you what to buy, and it can't. It has no view of your other assets, your family's tax position, what the money is for, or how you'd feel watching a bond price move. For a large sum, those things matter more than the numbers here, and a fee-only SEBI-registered adviser can see them where a calculator cannot.
It also compares categories rather than specific securities. Two AAA corporate bonds from different issuers are not interchangeable, which is what the evaluation checklist is for.
Frequently asked questions
Which fixed income option gives the highest return in India?
It depends on your tax slab, because the ranking changes completely once tax is applied. PPF at 7.1% is tax-free, so at the 30% slab it beats the RBI Floating Rate Savings Bond at 8.05%, which nets about 5.5%. At a 5% slab the order flips back. That is why this tool asks for your slab before showing anything, and why headline-rate tables are close to useless.
Why does the table show how much of my money 'fits'?
Several of the best-paying options are capped, and the caps are what people get wrong most often. Post Office Monthly Income Scheme takes ₹9 lakh for a single account and ₹15 lakh joint, SCSS takes ₹30 lakh and needs you to be 60, and PPF takes ₹1.5 lakh per financial year. A rate you can only apply to a fraction of your money is a different proposition from the same rate on all of it.
Does a higher post-tax rate mean I should pick that option?
No, and the table deliberately shows lock-in, payout frequency and credit next to the rate for that reason. A 7-year lock at 8.05% and a freely tradable government bond at 6.78% are not competing on the same terms. Read the constraint columns before the rate column. BondLab does not make recommendations; this is arithmetic on categories, not advice on what to buy.
Why compare annualised rates instead of final maturity values?
A final value needs an assumption about what you do with each payout, and these instruments differ enormously: one pays monthly, another half-yearly, another only at maturity. Any single reinvestment assumption would flatter some and penalise others. An annualised post-tax rate plus an explicit warning when the instrument's timeline disagrees with yours is the honest comparison.
Is the 80TTB deduction included for senior citizens?
No. Seniors can deduct ₹50,000 of interest income under Section 80TTB, which this table does not model, so the real post-tax return on SCSS and bank deposits is a little better than shown for anyone over 60. It is excluded because the benefit is shared across all your interest income rather than belonging to one instrument.
Related tools & guides
Educational tool, last reviewed July 2026. Results are estimates based on your inputs and standard market conventions; actual traded prices, taxes and platform charges may differ. Not investment advice; see the disclaimer.