ProText Accrual Methods

ProText provides options for 3 common accrual method used to calculate interest accrual on a daily basis


The loan payment formula is used to calculate the payments on a loan. The formula used to calculate loan payments is exactly the same for all accrual methods with difference being that each accrual method calculates the rate slightly different.
Each loan accrual method or calculation results in a different interest payment which directly impacts the monthly payments.

It's important to note that ProText accrual method assumes a fixed interest rate throughout the year and doesn't account for leap years, where a year has 366 days. ProText always assumes that there are 30 days in each month.

Accrual Methods


  • Rate (r) = Interest Rate / 360 * 30


  • Rate (r) = Interest Rate / 365 * 30


  • Rate (r) = (Interest Rate * 365 / 360) / 360 * 30

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