Discount Bill Return and Withholding Calculator
Calculate the gain, withholding tax, net gain and simple annual yield of a discount bill or treasury bill.
Things to keep in mind
- Withholding rates depend on the issuer, issue date and term; confirm the rate with your broker. Commissions, indexation and loss offsets are not included.
Calculator
Result
Enter the values and press Calculate to see the result here.
About this tool
For zero-coupon (discount) bills the return is the redemption or sale value minus the purchase price. You enter the withholding rate since it depends on the instrument and issue date.
How to use
- Enter the total purchase price.
- Enter the redemption value (or sale value if sold early).
- Enter the holding period in days and the withholding rate, then press Calculate.
Notes
Annual yield uses simple interest on a 365-day basis. No withholding is calculated on a loss.
Frequently asked questions
Gain = redemption value − purchase price; withholding = gain × rate / 100; net gain = gain − withholding.
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Last updated: September 30, 2026