BROWSE

Odd-Days Interest

What is 'Odd-Days Interest'

Interest that is earned from a mortgage or other loan with closed-end installments that contain a nonstandard payment period. In most cases, the additional interest is added on to the first payment. All remaining payment periods are uniform, assuming the loan has fixed payments and amortizes fully.

Also referred to as "interim interest."

Explaining 'Odd-Days Interest'

An example of when odd-days interest is paid is when a mortgage begins in the middle of a month. For example, suppose you get a mortgage on September 20th; you would pay 10 days' worth of interest to cover the days to the beginning of October.


Further Reading


On interpreting security returns during the ex-dividend period
www.sciencedirect.com [PDF]
… other strands of literature are of interest to this study. The first explores the relationship … economics rely on survey data that is aggregated at country level. This study breaks this … Muslims experience heightened religious fervor on the eve of these five odd days which they …

Managing the financial consequences of weather variabilityManaging the financial consequences of weather variability
link.springer.com [PDF]
… other strands of literature are of interest to this study. The first explores the relationship … economics rely on survey data that is aggregated at country level. This study breaks this … Muslims experience heightened religious fervor on the eve of these five odd days which they …

Effect of out-of-hospital pediatric endotracheal intubation on survival and neurological outcome: a controlled clinical trialEffect of out-of-hospital pediatric endotracheal intubation on survival and neurological outcome: a controlled clinical trial
jamanetwork.com [PDF]
… other strands of literature are of interest to this study. The first explores the relationship … economics rely on survey data that is aggregated at country level. This study breaks this … Muslims experience heightened religious fervor on the eve of these five odd days which they …

Is there an intra-month effect on stock returns in developing stock markets?Is there an intra-month effect on stock returns in developing stock markets?
www.tandfonline.com [PDF]
… other strands of literature are of interest to this study. The first explores the relationship … economics rely on survey data that is aggregated at country level. This study breaks this … Muslims experience heightened religious fervor on the eve of these five odd days which they …

The feeling of being watched: lived Confucianism and theatricality in Kuo Pao Kun's mid-1980s monodramasThe feeling of being watched: lived Confucianism and theatricality in Kuo Pao Kun's mid-1980s monodramas
www.tandfonline.com [PDF]
… other strands of literature are of interest to this study. The first explores the relationship … economics rely on survey data that is aggregated at country level. This study breaks this … Muslims experience heightened religious fervor on the eve of these five odd days which they …

Stable factors in security returns: Identification using cross-validationStable factors in security returns: Identification using cross-validation
amstat.tandfonline.com [PDF]
… other strands of literature are of interest to this study. The first explores the relationship … economics rely on survey data that is aggregated at country level. This study breaks this … Muslims experience heightened religious fervor on the eve of these five odd days which they …

Investor sentiment in Japanese and US daily mutual fund flowsInvestor sentiment in Japanese and US daily mutual fund flows
www.nber.org [PDF]
… other strands of literature are of interest to this study. The first explores the relationship … economics rely on survey data that is aggregated at country level. This study breaks this … Muslims experience heightened religious fervor on the eve of these five odd days which they …



Q&A About Odd-Days Interest


How does one earn interest on their savings?

Customers may withdraw more than they originally deposited. In this case, they are lenders and banks play the role of borrowers.

What does the term "odd days" refer to?

The term "odd days" refers to the fact that the first payment of an odd-day interest loan begins on a day other than the first day of the month. For example, if you get a mortgage on September 2nd; you would pay one day's worth of interest to cover the days to the beginning of October.

How do most loans with odd-days interest work?

Most loans with odd-days interest have fixed payments and amortize fully. All remaining payment periods are uniform, assuming they have fixed payments and amortize fully.

What are some examples of interest?

Examples include paying money to borrow money from a bank, earning interest on savings, and receiving dividends on stock in a company.

What is odd-days interest?

Odd-days interest is interest that is earned from a mortgage or other loan with closed-end installments that contain a nonstandard payment period.

What is interest?

Interest is the payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate.

How do you pay interest when borrowing money from someone else?

You pay back more than what you borrowed. For example, if you borrow $100 for one year at 10% annual percentage rate (APR), then at the end of that year you will owe $110 ($100 + 10% APR).