What is the syntax for YIELDMAT in Excel?

The syntax for YIELDMAT is: =YIELDMAT(settlement, maturity, issue, rate, pr, [basis])

What is YIELDMAT used for?

YIELDMAT calculates the annual yield of a security that pays interest at maturity (not periodic coupons). This includes zero-coupon bonds, CDs, and money market instruments where all interest is paid at the end.

How do I calculate CD yield?

Use =YIELDMAT(settlement, maturity, issue, rate, price). For a CD bought at $10,000 with 5% stated rate: =YIELDMAT(purchase_date, maturity_date, issue_date, 0.05, 100) gives the effective yield based on your purchase price.

When should I use YIELDMAT vs YIELD?

Use YIELD for bonds with periodic coupon payments (semiannual, quarterly). Use YIELDMAT for securities that pay all interest at maturity. Most corporate/government bonds use YIELD; CDs and zero-coupon instruments use YIELDMAT.

Financial

YIELDMAT Function in Excel

Returns the annual yield of a security that pays interest at maturity.

Syntax

=YIELDMAT(settlement, maturity, issue, rate, pr, [basis])

Arguments

settlement (required): Settlement date
maturity (required): Maturity date
issue (required): Issue date
rate (required): Interest rate at issue
pr (required): Price per $100 face value
basis (optional): Day count basis

Examples

=YIELDMAT("3/15/2024", "11/3/2024", "11/8/2023", 0.0625, 100.0123) - Yield at maturity - Result: 0.0609

YIELDMAT modeling tips

Align rate and period units (annual rate ÷ 12 for monthly models).
Use consistent cash-flow signs (outflows negative, inflows positive).
Hub: [Financial functions guide](/guides/excel-financial-functions-guide/).

Common errors

#NUM! if dates invalid

Use cases

Zero-coupon yield
CD yield
Money market

Frequently asked questions

What is YIELDMAT used for? YIELDMAT calculates the annual yield of a security that pays interest at maturity (not periodic coupons). This includes zero-coupon bonds, CDs, and money market instruments where all interest is paid at the end.
How do I calculate CD yield? Use =YIELDMAT(settlement, maturity, issue, rate, price). For a CD bought at $10,000 with 5% stated rate: =YIELDMAT(purchase_date, maturity_date, issue_date, 0.05, 100) gives the effective yield based on your purchase price.
When should I use YIELDMAT vs YIELD? Use YIELD for bonds with periodic coupon payments (semiannual, quarterly). Use YIELDMAT for securities that pay all interest at maturity. Most corporate/government bonds use YIELD; CDs and zero-coupon instruments use YIELDMAT.

Editorial review

Reviewed by Excel.Directory Editorial Team. Updated May 2026.