Bond Price Calculator
Find what a bond is worth today by discounting its coupons and face value at the yield you require.
Bond Price Calculator
Bond Price (clean)
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Price vs Face
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Trading At
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PV of Coupons
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PV of Face Value
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Current Yield
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Total Coupons Paid
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Price vs. yield curve
Price at Different Yields
| Required yield | Bond price (₹) | Change (₹) | Change (%) |
|---|
Each row reprices the same bond at the shown yield, one percentage point apart.
Assumptions & method
- Formula: Price = Σ coupon ÷ (1 + y/m)^k for k = 1…n, plus Face ÷ (1 + y/m)^n, where m is payments per year, n = years × m, and the coupon per period = Face × coupon rate ÷ m.
- Settlement convention: the price is computed on a coupon date (or at issue), so the next coupon is exactly one full period away. The result is a clean price with no accrued interest.
- If you buy part-way through a coupon period, the quoted clean price would be the full price minus accrued interest. That partial-period adjustment is not modelled here.
- The required yield is an annual nominal rate compounded at the coupon frequency (bond-equivalent style), and it is held constant for every cash flow.
- Coupons are fixed, there is no default or call risk, and the bond is redeemed at face value on the maturity date.
- Current yield = annual coupon ÷ price. It ignores the gain or loss from the price converging to face value at maturity.
Results are estimates based on the figures you enter. They are not guarantees and not financial advice.
What is a bond price?
A bond is a stream of fixed payments: a coupon each period and the face value at the end. Its price is simply what that stream is worth today, discounted at the yield you require for lending your money for that long. Because the coupons are fixed while market yields move, the price moves the other way: higher yields mean a lower price. The split between the present value of coupons and the present value of face shows where the value comes from. Longer bonds and lower coupons lean heavily on the face value, which is also why they react more to yield changes. The curve above is convex, so a fall in yield lifts the price by slightly more than the same rise in yield cuts it.