Easy Explanation Notes with Examples

INTRATE function in Excel


INTRATE function, one of the Financial functions, is used to calculate the interest rate for a fully invested security.


=INTRATE(settlement, maturity, investment, redemption, [basis])

settlement – The date at which security after issuance is traded to the buyer.

maturity – The maturity date of the security.

investment – The investment made by the buyer in the security. The cost of investment.

redemption – The amount to be received at the maturity date of the security.

[basis] – The optional argument used the type of day count basis to use.

Basis Day count basis
0 or omitted US (NASD) 30/360
1 Actual/actual
2 Actual/360
3 Actual/365
4 European 30/360


Suppose, a security with an investment cost of $1,000 will yield $1,500 on maturity, it has the settlement date of 1/1/2016 and maturity date of 12/31/2016.



Function Errors

Error Occurs
 #VALUE! If settlement or maturity is not a valid date.
#NUM! If investment ≤ 0 or if redemption ≤ 0.
If basis < 0 or if basis > 4.
If settlement ≥ maturity.

For in detail reading and more examples on function, visit Microsoft Office website.

Related Functions

FV function calculates the future value of an investment.

EFFECT function calculates an effective annual interest rate for a loan or an investment.

PV function is used to get the present value/ current worth of the future cash flows that will receive at a future date.

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