Excel ACCRINT Function

The Excel ACCRINT function returns the accrued interest for a security that pays interest periodically.

The Syntax is:

ACCRINT(issue, first_interest, settlement, rate, par, frequency, [basis], [calc_method])

The arguments can be explained as:

• issue - the issue date of the security.
• first_interest - the first date interest will be paid.
• settlement - the settlement date of the security.
• rate - the annual coupon rate for the security.
• par - The security's par value. If this argument is left out, ACCRINT will assume $1,000.
• frequency- The number of interest payments per year.  You can choose from the following:
  • 1 = annual payments
  • 2 = semi-annual payments
  • 4 = quarterly payments

• basis– This argument is optional. The type of day count basis to use.
  • 0 or omitted = US (NASD) 30/360
  • 1 = Actual/actual
  • 2 = Actual/360
  • 3 = Actual/365
  • 4 = European 30/360

• calc_method – The calculation method argument is optional. It tells Excel how you want to handle the total accrued interest when the date of settlement is later than the date of first_interest -It can be either:
  • 1 or TRUE returns the total accrued interest from issue to settlement.
  • 0 or FALSE returns the accrued interest from first_interest to settlement.
  • If you omit calc_method it defaults to TRUE.

Note: all arguments are required, except those with [square brakets] which are optional.

ACCRINT Formula Example

Tip: when entering dates it is always better to enter them using either:

1. The DATE function as displayed in the second example above or,
2. Reference cells containing a date or,
3. As a result of another formula.

The syntax for the DATE function is:

DATE(year,month,day)

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