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Compounding Period Frequency Interest Accrual Options

This article reviews the interest accrual options associated with compounding periodic frequency.

Nasvigating to Interest Accrual Options

To access Interest Accrual Options, navigate to Loan > Terms > Options. Checking the Compounding Period Frequency box reveals additional methodology options for how interest will be calculated on the loan.

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Note: For those utilizing Canadian Amortization, this is still available under the Compounding Period Frequency available options.

Compounding Frequency Options

These additional options are:

Name

Formula

Semi-Annual (Twice a Year)

Canadian Amortization

= ((1 + r/2)1/6 − 1) × (12/n)

Where r is the nominal annual interest rate.

​
Semi-Monthly (Twice a Month)

= (1 + r/24)24/f − 1

Where r is the nominal annual interest rate,

and f is the payment frequency.

 
Monthly

= (1 + r/12)12/f − 1

Where r is the nominal annual interest rate,

and f is the payment frequency.

 
Bi-Weekly

= (1 + r/26)26/f − 1

Where r is the nominal annual interest rate,

and f is the payment frequency.

 
Weekly

= (1 + r/52)52/f − 1

Where r is the nominal annual interest rate,

and f is the payment frequency.

 
Daily 

= (1 + r/365)365/f − 1

Where r is the nominal annual interest rate,

and f is the payment frequency.

 

Tip: For any standard loan offerings, templates can be utilized to provide better consistency & efficiency when adding new loans.

Learn more on templates: How to Leverage Loan Servicing Templates