This article describes the formula syntax and usage of the YIELDMAT function in Microsoft Excel.


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


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

Important: Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text.

The YIELDMAT function syntax has the following arguments:

BasisDay count basis
0 or omittedUS (NASD) 30/360
4European 30/360



Copy the example data in the following table, and paste it in cell A1 of a new Excel worksheet. For formulas to show results, select them, press F2, and then press Enter. If you need to, you can adjust the column widths to see all the data.

15-Mar-08Settlement date
3-Nov-08Maturity date
8-Nov-07Issue date
6.25%Percent semiannual coupon
030/360 basis (see above)
FormulaDescription (Result)Result
=YIELDMAT(A2,A3,A4,A5,A6,A7)The yield, for the bond with the terms above (0.060954 or 6.10%)6.10%

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