DISC Function in Excel: Discount Rate of a Security

⏱ 1 min readUpdated 28 September 2026

FinancialLevel: ExpertAvailable in: Excel 2007+

In this article
  1. Syntax
  2. Examples
  3. Example 1
  4. Related functions

DISC works out the discount rate when you know the purchase price and redemption value — commercial paper, bill discounting.

Syntax

=DISC(settlement, maturity, pr, redemption, [basis])
Argument What it means
basis 0 = US 30/360, 2 = actual/360, 3 = actual/365.

Examples

Example 1

=DISC(DATE(2021,4,1), DATE(2021,6,30), 98.5, 100, 3)

Annual discount rate on a 90-day bill bought at 98.5.

INTRATE · TBILLPRICE

📚 Part of the free Excel course: Beginner → Expert · Try it in the Formula Lab or ask the AI Helper.

Keep reading

Excel Functions A–ZNORM.INV Function in Excel: Value for a Given ProbabilityExcel Functions A–ZFACT Function in Excel: FactorialExcel Functions A–ZISODD Function in Excel: Is the Number Odd?
✨ Ask AI about this article

Stuck on a step? Ask a question and the AI answers using this article.

Free · AI can be wrong