Accrued Interest Calculator
Work out how much accrued interest you'll pay (or receive) at settlement, using the right Indian convention: 30/360 for G-secs, Actual/Actual for corporate bonds. It also gives you the total invoice amount.
Trade details
Results
| Last coupon date | — |
| Next coupon date | — |
| Days counted (—) | — |
| Accrued per ₹100 face | — |
| Clean value (all units) | — |
| Accrued interest (all units) | — |
| Total invoice (dirty) | — |
Invoice = units × (clean price + accrued interest), before platform charges and stamp duty.
The formula, by convention
For G-secs and SDLs (30/360 European, per FIMMDA):
Accrued interest = Face value × (Coupon rate ÷ 100) × (30/360 days since last coupon ÷ 360)
For listed corporate bonds (Actual/Actual, per SEBI's 2016 standardisation):
Accrued interest = Coupon per period × (actual days since last coupon ÷ actual days in the coupon period)
The difference sounds academic but shows up in real invoices. Sixty 30/360 days can be 59, 61 or 62 actual days depending on the months involved, so the same nominal coupon accrues at slightly different daily rates under each convention. On a ₹10 lakh trade the gap can be a few hundred rupees. Small money, but it decides whether your contract note matches what you expected.
Checking a contract note
- Find the bond's coupon dates (from the ISIN page or information memorandum).
- Enter the settlement date from the deal confirmation, not the trade date.
- Match the "accrued interest" line on the note against this calculator.
- Any residual difference is usually rounding or a shifted settlement date (holidays).
To understand why quotes exclude accrued interest in the first place, read clean vs dirty price, explained.
Frequently asked questions
Why do I have to pay accrued interest when buying a bond?
Interest legally belongs to whoever holds the bond each day, but the issuer pays it only on coupon dates. If you buy midway through a coupon period, the full next coupon comes to you, so at settlement you compensate the seller for the days they held it. It isn't a fee. You get it back in the next coupon.
Is the accrued interest I pay taxable?
You can net it off. The accrued interest you pay at purchase is deductible against the interest income you receive, so you're only taxed on the coupon you economically earned. Keep the contract note as proof. Details in our bond taxation guide.
What is the difference between 30/360 and Actual/Actual?
30/360 treats every month as 30 days and the year as 360 (used for G-secs and SDLs per FIMMDA). Actual/Actual counts real calendar days in both the accrual period and the coupon period (mandated by SEBI for corporate bonds since 2016). The same bond can show slightly different accrued interest under each, and you can switch between them above to compare.
What are record dates and the shut period?
The issuer pays the coupon to whoever is registered as holder on the record date. G-secs have a brief 'shut period' before interest payment when transfers aren't processed. Buying just before a record date doesn't hand you a free coupon, because accrued interest nets it out.
Related tools & guides
Educational tool, last reviewed July 2026. Results are estimates based on your inputs and standard market conventions; actual traded prices, taxes and platform charges may differ. Not investment advice; see the disclaimer.