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What is the difference between SDL, T-bills, and G-secs?

The difference between State Development Loans (SDL), Treasury Bills (T-bills), and Government securities (G-secs) are as follows:

Basis Treasury-Bills (T-bills) Government Bonds (G-secs) State Development Loans (SDL)
Maturity

Less than 1 year (91 days, 182 days, and 364 days).

Long-dated maturities.

Long-dated maturities.

Interest Does not carry an interest component. Twice a year to the primary bank account linked with Zerodha. Twice a year to the primary bank account linked with Zerodha.
Investment value T-bills are issued at a discount to par value, and upon expiry, they are redeemed at their actual value. Investments can be made at a discount, par value, or premium. Investments can be made at a discount, par value, or premium.

To read more about government securities, visit zerodha.com/varsity/chapter/government-securities/