Financial

ACCRINT Function in Excel

Returns the accrued interest for a security that pays periodic interest.

Syntax

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

Arguments

  • issue (required): Issue date
  • first_interest (required): First interest date
  • settlement (required): Settlement date
  • rate (required): Annual coupon rate
  • par (required): Par value
  • frequency (required): Payments per year (1, 2, or 4)
  • basis (optional): Day count basis

Examples

  • =ACCRINT("1/1/2024", "7/1/2024", "5/1/2024", 0.1, 1000, 2) - Accrued interest - Result: Interest amount

ACCRINT modeling tips

  • Align rate and period units (annual rate ÷ 12 for monthly models).
  • Use consistent cash-flow signs (outflows negative, inflows positive).
  • Hub: [Financial functions guide](/guides/excel-financial-functions-guide/).

Common errors

  • #NUM! if dates invalid

Use cases

  • Bond pricing
  • Interest calculation
  • Fixed income

Frequently asked questions

  • What is ACCRINT used for? ACCRINT calculates accrued interest on a bond that pays periodic interest. When you buy a bond between coupon dates, you pay the seller for interest earned since the last payment. ACCRINT calculates this amount.
  • What is the basis parameter? Basis specifies the day count convention: 0=US 30/360, 1=Actual/actual, 2=Actual/360, 3=Actual/365, 4=European 30/360. Different markets use different conventions. US corporate bonds typically use 30/360; Treasury bonds use actual/actual.
  • How do I calculate clean vs dirty bond price? Dirty price = Clean price + Accrued interest. Clean price is the quoted price; dirty price is what you actually pay. Use ACCRINT to find accrued interest, then: Dirty = Clean + ACCRINT(...). Bond quotes show clean prices.

Editorial review

  • Reviewed by Excel.Directory Editorial Team. Updated May 2026.