Bonds are financial instruments, typically a type of loan made by an Investor to a Corporation or Government, for which investors receive periodic interest payments which can be monthly, quarterly, semi-annually and annually. Each Bond is identified by ISIN number, which is 12 digit, alpha numeric code. Bonds are usually secured. A Debenture is a type of Bond or Debt instrument that can be secured by collateral or unsecured. In case of Unsecured Debentures, having no collateral backing, they must rely on the creditworthiness and reputation of the issuer for support.