PMT Function in Excel: Syntax, Examples and Free Practice
PMT is an Excel Financial function. Calculates the fixed periodic payment for a loan.
PMT syntax
Arguments
rate: The interest rate per periodnper: The total number of payment periodspv: The present value of the amountfv: The future value of the amount (optional)type: Whether payments are due at the start or end of a period (optional)
When to use PMT
PMT is used in loan, investment, or valuation models where precise financial math is required.
Practice PMT online, free
Open the live Excel-style spreadsheet and try PMT yourself. No Excel install or sign-up needed to start.
Practice PMT now →Learn more
Read the tutorial: Calculate loan EMI with PMT.
More Financial functions
Frequently asked questions
What does the PMT function do in Excel?
Calculates the fixed periodic payment for a loan.
What is the syntax of PMT in Excel?
The syntax is =PMT(rate, nper, pv, [fv], [type]). rate: The interest rate per period; nper: The total number of payment periods; pv: The present value of the amount; fv: The future value of the amount (optional); type: Whether payments are due at the start or end of a period (optional).
Where can I practice PMT online for free?
Open the free live spreadsheet on Cellgrids and try PMT yourself. No Excel install is needed and you can start without signing up.
All Excel formulas · Cheat sheet · Excel exercises · Financial functions · Excel case studies · Excel tutorials · Excel shortcuts