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PMT

FinancialExcel 2007

The fixed periodic payment for a loan (EMI).

Syntax

PMT(rate, nper, pv, [fv], [type])

Arguments

rate
Interest rate per period. For a monthly EMI use annual_rate/12.
nper
Total number of payments, e.g. years × 12.
pv
Present value — the loan amount (enter as a positive number).
fvoptional
Balance you want left at the end. Default 0.
typeoptional
0 payment at period end (default), 1 at the start.

How it works

Returns a negative number (cash leaving you). Wrap in -PMT(...) or ABS() for a positive EMI.

Examples

=-PMT(8%/12, 20*12, 3000000)

→ 25,093 — ₹30L at 8% for 20 years

=-PMT(0.09/12, 60, 500000)

→ 10,379

Good to know

  • Keep rate and nper on the same time base — both monthly or both annual.

Related functions

IPMTPPMTRATENPERPV

More Financial functions

ACCRINTACCRINTMAMORDEGRCAMORLINCCOUPDAYBSCOUPDAYSCOUPDAYSNCCOUPNCDCOUPNUMCOUPPCDCUMIPMTCUMPRINC

← All 510 functions

Syntax follows Microsoft’s documentation. Examples are written to be pasted into a cell and checked. Argument separators may be ; in your locale. The AI explainer runs on a free community model — verify anything important.