The calculation formula of discount interest is: discount interest = discount amount × discount days × monthly discount rate /30, or discount interest = discount amount × discount days × annual discount rate /360. Under the discount rate formula, actual payment amount = face value-discount interest, and intimate interest refers to the interest paid to the bank by the holder when applying for face value from the bank.

Extended data:

Conditions for applying for discount:

(1) An enterprise legal person or other economic organization that has opened a settlement account at present;

(2) Having a real commodity trading relationship with the drawer or immediate predecessor;

(3) It can provide the VAT invoice between it and its immediate predecessor (except that VAT invoices cannot be issued according to regulations) and a copy of the cargo shipping documents.

Calculation method:

1. Maturity value of interest-free bills (discounted value at maturity) = face value of bills receivable.

2. Maturity value of interest-bearing bills (discounted in advance) = face value of bills receivable-discounted interest.

Discount interest = face value of bills receivable × (maturity days of bills /360)× discount rate

Example: The face value of a bill of exchange is 654.38+0 million, the date of issue is 654.38+0 February, and it will expire in April of 654.38+0. Discount and net discount need to be calculated. The holder went to the bank for discount on March 2nd, and the discount rate was 12%.

Discounted interest =100× (30/360 )×12% =10,000.

Discounted net value =100-1= 990,000.

References:

Discount _ Baidu Encyclopedia