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Bill Discount Calculator

Enter the face value of a bill or cheque, the days to maturity and the discount rate. The present value paid today and the discount are worked out by bank or true discount.

Last updated:

The amount due on the maturity date.

 

Default: the CBRT rediscount rate.

Method

Bank: charged on the face value. True: on the present value.

Day count

 

Present value90,445.21₺What is paid today
  • Face value100,000.00 ₺
  • Discount9,554.79 ₺
  • Yearly yield on the price paid42.84%
  • To pay90,445.21 ₺

CBRT rediscount rate: TCMB

How it is calculated

Bank (commercial) discount is charged on the face value, true discount on the present value, so at the same rate the bank method takes more. Banks usually use the bank method when discounting bills. The CBRT rediscount rate is the usual reference for commercial paper.

FormulaDış: P = N × (1 − r × g ÷ 365) · İç: P = N ÷ (1 + r × g ÷ 365)N: face value · r: yearly discount rate · g: days to maturity. The CBRT rediscount rate is currently 38.75%.

Example

A ₺100,000 bill due in 90 days, discounted at 38.75% by the bank method, loses ₺9,554.79: ₺90,445.21 is paid today.

Frequently asked questions

How do bank and true discount differ?

Bank discount charges interest on the face value, true discount on what is paid today. In the example true discount would take ₺8,721.48; the bank method takes ₺833.32 more.

Source

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