Financial

ISPMT Function in Excel

Returns the interest paid during a specific period of an investment.

Syntax

  • =ISPMT(rate, per, nper, pv)

Arguments

  • rate (required): Interest rate per period
  • per (required): Period for interest calculation
  • nper (required): Total number of periods
  • pv (required): Present value

Examples

  • =ISPMT(0.1/12, 1, 36, 8000000) - Interest in period 1 - Result: -64815

ISPMT modeling tips

  • Align rate and period units (annual rate ÷ 12 for monthly models).
  • Use consistent cash-flow signs (outflows negative, inflows positive).
  • Hub: [Financial functions guide](/guides/excel-financial-functions-guide/).

Common errors

  • Different from IPMT calculation

Use cases

  • Straight-line interest
  • Simple interest loans
  • Interest calculation

Frequently asked questions

  • What is the ISPMT function in Excel? ISPMT returns the interest paid during a specific period of an investment. The syntax is =ISPMT(rate, per, nper, pv). Typical use cases include straight-line interest, simple interest loans, interest calculation.
  • How do I use the ISPMT function? To use ISPMT, type =ISPMT( in a cell and provide the required arguments. Excel will show you the syntax and parameter hints as you type. Make sure to close the parentheses and press Enter to execute the function.
  • Why is ISPMT not working in my Excel? Common issues with ISPMT include Different from IPMT calculation. Start by checking the syntax =ISPMT(rate, per, nper, pv), then verify each referenced cell or range.

Editorial review

  • Reviewed by Excel.Directory Editorial Team. Updated May 2026.