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In this article
ISPMT calculates interest for a loan where the principal is repaid in equal parts (not an EMI). Note the period argument starts at 0.
Syntax
=ISPMT(rate, per, nper, pv)| Argument | What it means |
|---|---|
per |
0 for the first period. |
Examples
Example 1
=-ISPMT(10%/12, 0, 12, 120000)₹1,000 interest in month one when ₹10,000 of principal is repaid each month.
ISPMT in practice
Where you will use it
- Interest in a straight-line principal loan
- Lotus-compatible models
- Teaching amortisation
Worked example
| Period | Formula | Result |
|---|---|---|
| 0 | =ROUND(-ISPMT(0.12/12,A2,12,100000),0) | 1000 |
| 5 | =ROUND(-ISPMT(0.12/12,A3,12,100000),0) | 583 |
| 11 | =ROUND(-ISPMT(0.12/12,A4,12,100000),0) | 83 |
Results calculated in Excel.
Mistakes people make
| Mistake | What to do instead |
|---|---|
| Period numbering | Starts at 0 |
| Normal EMIs | Use IPMT for equal-instalment loans |
Related functions
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📎 Practice files for this article
- 📗Practice workbook: Financial: EMI, SIP, NPV, IRR, depreciation23 tasks on realistic sales data — type your formula, the Check column turns green when it is right. Answers sheet included.⬇ XLSX · 35 KB
Free to use for learning. Files with macros (.bas) are plain text — import them with Alt+F11 → File → Import File, and always test on a copy.
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