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Bond Calculator

Bond price, current yield and yield to maturity.

Calculators Reviews Free · no sign-up
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How the price moves with rates

Market yieldPriceAgainst face

Bond price

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Yield to maturity—
Current yield—
Coupon payment—
Number of coupons—
Total coupon income—
Gain or loss at maturity—
Total return—
Trading at—

Quick Tool Overview

The Bond Calculator solves in both directions: price from a required yield, or yield to maturity from a price. It reports current yield alongside YTM and explains whether the bond is trading at a premium or a discount, and why.

What it does
Calculates bond price, yield to maturity and current yield
You give it
Face value, coupon, maturity and either price or yield
You get back
The other one, plus current yield and total coupon income
Best for
Valuing a bond and comparing it against others
Calculators Free, unlimited use No sign-up Runs in your browser

About the Bond Calculator

Enter the face value, coupon rate, years to maturity and either the price or the required yield, and the calculator returns the other along with current yield, total coupon income and whether the bond trades at a premium or a discount.

Bond prices move inversely to interest rates, and this calculator is the clearest way to see why. A bond paying a five percent coupon in a market demanding seven must sell below face value, because the discount is what makes up the shortfall in income. Yield to maturity is the figure that captures both the coupons and that price movement, which is why it is the standard comparison measure and why current yield, which ignores the capital element entirely, can be seriously misleading on a bond bought away from par.

Key features of the Bond Calculator

Price or yield, either way

Enter a market yield to get the price, or a price to get the yield to maturity.

YTM against current yield

Current yield ignores the pull to par entirely, which makes it misleading on any bond bought away from face value.

Premium and discount explained

Why a five percent coupon must sell below par in a seven percent market, shown rather than asserted.

Coupon frequency

Annual, semi-annual or quarterly, which changes both the price and the effective yield.

Total income reported

Coupons over the life of the bond plus the capital gain or loss at maturity.

How to use the Bond Calculator

  1. 1

    Enter the bond terms

    Face value, annual coupon rate, years to maturity and the coupon frequency.

  2. 2

    Choose what to solve for

    Enter a market yield to get the price, or a price to get the yield to maturity.

  3. 3

    Read the yields

    Current yield from coupons alone, and yield to maturity including the price movement.

  4. 4

    Check premium or discount

    A price above face is a premium, below is a discount, and the calculator explains which and why.

Frequently asked questions

The total annualised return if you buy at the current price and hold to maturity, counting every coupon and the gain or loss between price and face value. It is the standard way to compare bonds.

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