ACCRINTM function

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



 Important   Dates should be entered by using the DATE function, or as results of other formulas or functions. For example, use DATE(2008,5,23) for the 23rd day of May, 2008. Problems can occur if dates are entered as text.

Issue     is the security's issue date.

Settlement     is the security's maturity date.

Rate     is the security's annual coupon rate.

Par     is the security's par value. If you omit par, ACCRINTM uses $1,000.

Basis     is the type of day count basis to use.

Basis Day count basis
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. Microsoft Excel for the Macintosh uses a different date system as its default.
  • 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.
  • ACCRINTM 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.


The example may be easier to understand if you copy it to a blank worksheet.

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Selecting an example from Help
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  • In the worksheet, select cell A1, and press CTRL+V.
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Data Description
April 1, 2008 Issue date
June 15, 2008 Maturity date
10.0% Percent coupon
$1,000 Par value
3 Actual/365 basis (see above)
Formula Description (Result)
=ACCRINTM(A2,A3,A4,A5,A6) The accrued interest for the terms above (20.54795)
Applies to:
Excel 2007