COUPNCD function

COUPNCD function returns the next interest payment date after the specified settlement date for a security that pays periodic interest. It’s a useful tool for financial analysis, especially in bond and fixed-income investments.


COUPNCD(settlement, maturity, frequency, [basis])


settlementThe date when the security was purchased.
maturityThe date when the security matures.
frequencyThe number of times interest is paid per year.
[basis](Optional) An optional argument specifying the day-count basis to use. If omitted, it defaults to 0 (or “US (NASD) 30/360”).

How to Use

The COUPNCD function helps you find the next interest payment date for a security. Here’s how to use it:

Suppose you have the following data:

settlement date: 2023-04-15
maturity date: 2025-12-31
interest frequency: 2 (semi-annual payments)

You can use the COUPNCD function as follows:

This will return the next interest payment date, which is “2023-10-31” in this case.

Remember that you can also use the optional [basis] argument if you need to specify a different day-count basis.


Let’s look at a few more examples:

This example calculates the next interest payment date with quarterly payments and the “Actual/Actual” day-count basis. The result is “2023-10-31.”

Here, we find the next interest payment date for an annual payment schedule with the “European 30/360” day-count basis. The result is “2024-06-30.”

Additional Information

The COUPNCD function is a valuable tool for investors, financial analysts, and anyone working with fixed-income securities. It helps you determine the next interest payment date, which is crucial for assessing the cash flows and making investment decisions.

If you encounter unfamiliar terms or need more details on specific arguments, you can refer to financial resources or websites that provide in-depth explanations of bond calculations and financial terminology.

Tomasz Decker is an Excel specialist, skilled in data analysis and financial modeling.