Excel Functions

Excel IPMT Function

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IPMT function can be used to calculate the interest portion of a given loan payment in a given payment period. For example, you can use IPMT to get the interest amount of a payment for the first period, the last period, or any period in between.

Purpose of Excel IPMT Function

Get interest in given period.

Return value

The interest amount.


=IPMT (rate, per, nper, pv, [fv], [type])


rateThe interest rate per periodMandatory
perThe payment period of interest Mandatory
nperThe total number of payment periods Mandatory
pvThe present value, or total value of all payments now Mandatory
fvThe cash balance desired after last payment is made. Defaults to 0. Optional
typeWhen payments are due. 0 = end of period. 1 = beginning of period. Default is 0 Optional

Usage notes

  • Be consistent with inputs for rate. For example, for 5-year loan with 4.5% annual interest, enter the rate as 4.5%/12.
  • By convention, the loan value (pv) is entered as a negative value


Since 2007 for Windows.
Since 2011 for Mac.

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