An agio is the difference between the face value of a loan or security (a bond, for example), and its actual, marked-up market price.

A disagio, on the other hand, is a negative difference between the face value of a loan or share and its actual, marked-down market price.

An agio is normally shown as a percentage of the face value of a security.

Example: An agio of 4% is applied to a bond with a face value of 1000 francs. As a result, the bond is marketed for 1040 francs.

When a borrower takes a loan (by issuing a bond, for example) to which an agio applies, the interest costs decrease because only the face value of the loan must be repaid. Nominal interest rates do not account for agios. However, agios are accounted for in effective interest rates.

More information:
Trading comparison
Private banking comparison
How to buy stocks: best trading tips

Online trading brokers in comparison

Find the cheapest online broker now

Compare now
Trading platforms

Brokers with low fees

Swiss Broker


  • Swiss online bank

  • No additional exchange charges

  • No transaction fees for Swiss equities

Swiss Broker

Saxo Bank Switzerland

  • Swiss online bank

  • Favorable prices stock trading

  • High account interest rates

Swiss Broker


  • Swiss online bank

  • No custody fees for stocks

  • Free market research and trading signals

Wealth managers in comparison

Find the most favorable wealth management now

Compare now for free
Expert Benjamin Manz
Benjamin Manz is CEO of and an independent expert on banking and finance.