Bond Equivalent Yield Calculator
Annualized simple yield for T-bills/discount notes
How to Use This Calculator
Enter the instrument's price, face value, and days to maturity. Click Calculate to see the annualized simple yield.
Formula
BEY = ((Face − Price) / Price) × (365 / Days) × 100
This converts a discount yield into a simple annualized yield comparable to bond yields.
About Bond Equivalent Yield
BEY standardizes short-term discount instrument returns to an annual basis, easing comparisons with quoted bond yields.
Frequently Asked Questions
Is this the same as bond discount rate?
No. BEY annualizes based on price, while bank discount yield uses face value and 360-day convention.