Learning about the ACCRINTM Function in Excel

Using the ACCRINTM Function in Excel




Returns the accrued interest for a security that pays interest at maturity.


ACCRINTM(issue; settlement; rate; par; [basis])


The ACCRINTM function syntax has the following arguments:

  • Issue Required. The security’s issue date.
  • Settlement Required. The security’s maturity date.
  • Rate Required. The security’s annual coupon rate.
  • Par Required. The security’s par value. If you omit par; ACCRINTM uses $1;000.
  • Basis 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




  • Microsoft Excel stores dates as sequential serial numbers so they can be used in calculations. By default; January 1; 1900 is serial number 1; and January 1; 2008 is serial number 39448 because it is 39;448 days after January 1; 1900.
  • Issue; settlement; and basis are truncated to integers.
  • If issue or settlement is not a valid date; ACCRINTM returns the #VALUE! error value.
  • If rate <= 0 or if par <= 0; ACCRINTM returns the #NUM! error value.
  • If basis < 0 or if basis > 4; ACCRINTM returns the #NUM! error value.
  • If issue = settlement; ACCRINTM returns the #NUM! error value.
  • ACCRINT is calculated as follows:

    • A = Number of accrued days counted according to a monthly basis. For interest at maturity items; the number of days from the issue date to the maturity date is used.
    • D = Annual Year Basis.


Interactive Example

Change the data in the non-colored cells and see how the result changes in the yellow cells.



Please wait...

Subscribe to ExcelMOOC posts

Want to be notified when our Excel article is published? Enter your email address and name below to know all new Excel features and cool tips