Interest Accrual Period


Definition of "Interest Accrual Period"

Wendy Fountain real estate agent
Wendy Fountain, Real Estate Agent Coldwell Banker Sea Coast Advantage

The period over which the interest due the lender is calculated. The interest accrual period may or may not correspond to the payment period. On the annual accrual mortgages in the UK, payments are made monthly. On most monthly accrual mortgages in the U.S., payments are also made monthly, but in some cases payments are made biweekly. On biweekly accrual mortgages, payments are made biweekly. On daily accrual mortgages, payments are made monthly or biweekly.

 

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