Interest rate derivatives sound like something only bank treasurers should know. Then the workbook throws yield to maturity, duration, PV01, cost of carry, Black 1976, SPAN and position limits at you, all in one exam with a hundred questions, two hours on the clock and a quarter mark lost for every wrong guess.

This course breaks the whole syllabus into 109 single idea Brain Drops. Each one opens with a short chat, asks you to guess before it teaches, plays a four scene animated story of the core idea, and lets you test it yourself with rupee calculators, steppers and tap to try tools. Every section ends with a quiz in real exam style, and the course closes with five full length mock tests that follow the real exam pattern and unit weightage. It is fully self paced, and the first few lessons are free.

You will learn how interest rates and bonds really work, how bond prices, yields, duration and convexity connect, what FRAs, swaps, bond futures, T bill futures and MIBOR futures are, how bond options, payoffs and the Greeks behave, how hedgers, traders and arbitragers use these contracts, and how trading, clearing, margins, regulation, accounting, tax and investor protection work in India.

Plain English, real rupee numbers, short lessons you can finish between classes.

Independent explainer. Not affiliated with or endorsed by NISM or SEBI. For learning only, not financial advice.