PPMT Function in Excel: Principal Part of an EMI

PPMT Function in Excel: Principal Part of an EMI featured illustration

📎 This article includes 1 downloadable practice file ↓

⏱ 2 min read

FinancialLevel: ExpertAvailable in: Excel 2007+

In this article
  1. Syntax
  2. Examples
  3. Example 1
  4. PPMT in practice
  5. Where you will use it
  6. Worked example
  7. Mistakes people make
  8. Related functions
  9. Continue learning

PPMT returns the principal repaid by a specific EMI.

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Syntax

=PPMT(rate, per, nper, pv, [fv], [type])
Argument What it means
per Payment number.

Examples

Example 1

=PPMT(8.5%/12, 1, 240, -3000000)

Principal in the first EMI — small at the start, growing every month.

PPMT in practice

Where you will use it

  • Principal part of a given EMI
  • Amortisation schedules
  • See principal grow over time

Worked example

EMI no.FormulaResult
1=TEXT(-PPMT(0.085/12,A2,240,2500000),"#,##0")3,987
120=TEXT(-PPMT(0.085/12,A3,240,2500000),"#,##0")9,235
240=TEXT(-PPMT(0.085/12,A4,240,2500000),"#,##0")21,543

Results calculated in Excel.

Mistakes people make

MistakeWhat to do instead
IPMT + PPMTTogether they equal the EMI
Period range1 to total EMIs

IPMT · PMT

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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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