Which is the best bond investment?

I want to find out which is the best bonds (both govt and corporate) which is both offers good return and also safety?

Personally I wouldn't invest in bonds right now, as I think rates are going up. But if I was going to invest for maybe a term of two years, I might consider bonds.

For you, you need to decide how much risk you want to take. Government bonds (US Treasurys of UK Gilts) are pretty much riskless if you invest in your own currency and hold them to maturity. Corporate bonds will normally yield more, and some yield WAY more. But these corporate bonds are also WAY riskier, which is why you get more interest paid to you.

If you know a company very, very well, you might consider investing in their bonds. Otherwise best to stay in shorter term governments, in my opinion.

The I bonds are currently paying over 6% and our government issued. As long as the government doesn't go broke they are safe and the rate is good the only problem is you need to hold on to them at least 1 year and 5 years to received all of the interest.

Most people should have at least a little of their overall portfolio in bonds as part of an asset allocation strategy. Doesn't matter of interest rates are rising or falling, the presence of bonds in a portfolio lessens the overall risk of that portfolio without weighing very heavily on the growth potential. That being said, I would go with a bond fund as opposed to individual bonds. It's hard to diversify among bonds unless you have about 200k to do so. A bond fund will handle that diversification for you, further limiting your overall risk. Government bonds tend to be more stable, and thus pay less. Corporate bonds tend to have a bit more risk (in some cases a LOT more risk) and so pay more. A good multi-sector bond fund can help you have the best of both worlds.

Rates are rising, bond prices are falling. Safe bet is T-bills and the interest is not taxed by local governments.