How to use Excel DISC Function


DISC function in excel is a financial function. It is used to find discount rate of a security. It is a worksheet function and can be entered in the cell in which value is required.


=DISC(settlement, maturity, pr, redemption, basis)


  • Settlement: It is the date on which security is settled. It comes after issue date when security is rated to the buyer.
  • Maturity: It is the date on which security will be matured.
  • Per: Price of the security per $100 face value.
  • Redemption: Redemption value of security at $100 face value.
  • Basis: It is the type of day count basis to be used.


  • Microsoft Excel stores dates as serial numbers . By default, January 1, 1900 is serial number 1 and corresponding dates have serial number greater than 1.
  • Settlement, Maturity and basis are converted to integers.
  • If settlement or maturity is not in valid format, #VALUE error is returned.
  • If Redemption and Pr are less than or equal to zero, #NUM error is displayed.
  • If Basis is less than zero or greater than four, #NUM error is displayed.
  • Calculation of DISC is done according to formula:


  • In this example, various arguments are entered in column A and their values are entered in column B and DISC function is used to retrieve the result in column D. Formula used for calculation is:

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