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Excel ACCRINTM Function

The ACCRINTM function returns the accrued interest for a security that pays interest at maturity.

accrintm function 1


Syntax

=ACCRINTM(issue, settlement, rate, par, [basis])


Arguments

  • issue (required): The issue date of the security.
  • settlement (required): The settlement date of the security.
  • par (required): The par value of the security. If omitted, ACCRINT uses $1,000.
  • basis (optional): The type of day count basis to use when calculating interest for the security (default = 0):
    • basis = 0 or omitted, if day count = US (NASD) 30/360;
    • basis = 1, if day count = Actual/actual;
    • basis = 2, if day count = Actual/360;
    • basis = 3, if day count = Actual/365;
    • basis = 4, if day count = European 30/360.

Return Value

The ACCRINTM function returns a numeric value.


Function Notes

  • ACCRINTM will return the #VALUE! error if issue or settlement is not a valid date.
  • ACCRINTM will return the #NUM! error if:
    • rate ≤ 0 or par ≤ 0;
    • basis < 0 or basis > 4;
    • issue ≥ settlement.
  • issue, settlement and basis are truncated to integers.
  • The result of the formula is a numeric value. To add a currency symbol to it, please apply the Format Cells feature.

Example

As the information shown in the below table, to get the accrued interest for the security that pays interest at maturity, please copy or enter the formula below in a blank cell, and press Enter to get the result:

=ACCRINTM(C3,C4,C5,C6,C7)

accrintm function 2

If a bond has the same information above except that the settlement date is October 1, 2021, you can add a DATE function to replace the C5 in the formula:

=ACCRINTM(C3,C4,DATE(2021,10,1),C6,C7)

If a treasury bond has the same information above except that the day count basis is Actual/360, you should change the basis argument to 2:

=ACCRINTM(C3,C4,DATE(2021,10,1),C6,2)


Related functions

Excel ACCRINT Function

The ACCRINT function returns the accrued interest on periodic interest-paying securities.


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