diff --git a/dist/index.js b/dist/index.js
index 0d87e2478..9e367a8d0 100644
--- a/dist/index.js
+++ b/dist/index.js
@@ -129344,12 +129344,16 @@ const generateReleaseInfo = ({
 
   if (tag === undefined) {
     tag = versionInfo ? template(config['tag-template'] || '', versionInfo) : ''
+  } else if (versionInfo) {
+    tag = template(tag, versionInfo)
   }
 
   if (name === undefined) {
     name = versionInfo
       ? template(config['name-template'] || '', versionInfo)
       : ''
+  } else if (versionInfo) {
+    name = template(name, versionInfo)
   }
 
   if (commitish === undefined) {
diff --git a/lib/releases.js b/lib/releases.js
index d251ac193..1022c4b80 100644
--- a/lib/releases.js
+++ b/lib/releases.js
@@ -306,12 +306,16 @@ const generateReleaseInfo = ({
 
   if (tag === undefined) {
     tag = versionInfo ? template(config['tag-template'] || '', versionInfo) : ''
+  } else if (versionInfo) {
+    tag = template(tag, versionInfo)
   }
 
   if (name === undefined) {
     name = versionInfo
       ? template(config['name-template'] || '', versionInfo)
       : ''
+  } else if (versionInfo) {
+    name = template(name, versionInfo)
   }
 
   if (commitish === undefined) {
diff --git a/test/fixtures/config/config-with-name-and-tag-template.yml b/test/fixtures/config/config-with-name-and-tag-template.yml
new file mode 100644
index 000000000..daef573eb
--- /dev/null
+++ b/test/fixtures/config/config-with-name-and-tag-template.yml
@@ -0,0 +1,3 @@
+template: Placeholder with example. Automatically calculated values based on previous releases are next major=$NEXT_MAJOR_VERSION, minor=$NEXT_MINOR_VERSION, patch=$NEXT_PATCH_VERSION.
+name-template: 'v$RESOLVED_VERSION-beta (Code name: Hello World)'
+tag-template: v$RESOLVED_VERSION-beta
diff --git a/test/index.test.js b/test/index.test.js
index 106793605..381310591 100644
--- a/test/index.test.js
+++ b/test/index.test.js
@@ -2149,6 +2149,23 @@ describe('release-drafter', () => {
       })
     })
 
+    describe('with just the tag containing variables', () => {
+      it('gets the version from the tag and expands variables in it', async () => {
+        return overridesTest(
+          {
+            tag: 'v$RESOLVED_VERSION-RC1',
+            configName: 'config-with-name-and-tag-template.yml',
+          },
+          {
+            body: `Placeholder with example. Automatically calculated values based on previous releases are next major=3.0.0, minor=2.1.0, patch=2.0.1.`,
+            draft: true,
+            name: 'v1.0.0-beta (Code name: Hello World)',
+            tag_name: 'v1.0.0-RC1',
+          }
+        )
+      })
+    })
+
     describe('with just the name', () => {
       it('gets the version from the name and forces using the name', async () => {
         return overridesTest(
@@ -2163,6 +2180,23 @@ describe('release-drafter', () => {
       })
     })
 
+    describe('with just the name containing variables', () => {
+      it('gets the version from the name and expands variables in it', async () => {
+        return overridesTest(
+          {
+            name: 'v$RESOLVED_VERSION-RC1 (Code name: Hello World)',
+            configName: 'config-with-name-and-tag-template.yml',
+          },
+          {
+            body: `Placeholder with example. Automatically calculated values based on previous releases are next major=3.0.0, minor=2.1.0, patch=2.0.1.`,
+            draft: true,
+            name: 'v1.0.0-RC1 (Code name: Hello World)',
+            tag_name: 'v1.0.0-beta',
+          }
+        )
+      })
+    })
+
     describe('with publish: true', () => {
       it('immediately publishes the created draft', async () => {
         return overridesTest(