GRZ Bond Calculator
Calculate yields, coupon payments, and net returns on Zambian government bonds
Fills in the Primary Auction tab below from BoZ auction records.
Auction Parameters
K
K
Defaults to face value — override if you bought at a discount or premium.
%
When you bought — anchors the coupon schedule
Adjust for inflation
Total Return at Maturity
K0
K100,000 principal + K205,803 net interest
INVESTED 33%NET INTEREST 67%
Investment Breakdown
15 YEARS AT 17.59% PER YEAR · 30 SEMI-ANNUAL COUPONS
PrincipalK100,000
Gross Interest (30 coupons)+K263,850
Withholding Tax (20%) + Handling (1%)−K58,047
Net InterestK205,803
Net Per Coupon (~6 months)K6,860.10
Net Monthly EquivalentK1,143.35
K6,860 every 6 months
Your K100,000 investment earns K6,860.10 net per coupon — K1,143.35/month · K791.55/week equivalent.
K205,803 net interest over 15 years
Over 30 coupons, your principal of K100,000 generates K205,803 in net interest — a 205.80% total return.
K58,047 in total deductions
WHT and fees total K58,047 over the term — reducing gross interest of K263,850 to K205,803 net.
Latest GRZ Bond Yields
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2-Year~13.50%
3-Year~14.00%
5-Year~14.75%
7-Year~16.00%
10-Year~16.60%
15-Year~17.59%
Deductions Per Coupon
Withholding Tax20%
Deducted at source by ZRA
Handling Fee1%
Charged per disbursement
Frequency2×/year
Paid every ~182 days
Compare with a Treasury Bill
91, 182, or 364-day T-Bill returns
Compound Interest Calculator
See how reinvested returns grow
Track your portfolio with TulaIQ
Track your actual GRZ bonds with coupon reminders, fair value movements using live BoZ yields, and AI-powered portfolio insights.
WHT rate: 21% (post 26 Sep 2025) · Handling fee: 1% per coupon · Semi-annual payments · Not financial advice.