PMT Calculator (Loan Payment)
Calculate loan payments and total interest with the Excel PMT formula. Free mortgage and loan payment calculator.
Loan Details
Enter your loan information to calculate payments
Payment Results
Monthly Payment
$1,389.58
Total of 300 Payments
$416,874.36
Total Interest Paid
$166,874.36
Interest as % of Principal
66.75%
=PMT(4.5%/12, 25*12, -250000, 0, 0)
Rate Comparison
See how different interest rates affect your payments
| Rate | Payment | Total Interest | vs Current |
|---|---|---|---|
| 3.50% | $1,251.56 | $125,467.68 | Save $41,406.68 |
| 4.00% | $1,319.59 | $145,877.63 | Save $20,996.73 |
| 4.50% < | $1,389.58 | $166,874.36 | Current |
| 5.00% | $1,461.48 | $188,442.53 | Cost $21,568.17 |
| 5.50% | $1,535.22 | $210,565.62 | Cost $43,691.26 |
What is the PMT function?
PMT calculates the payment for a loan based on constant payments and a constant interest rate. It's one of Excel's most useful financial functions, essential for loan planning and budgeting.
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Learn the Excel Formulas
=PMT(rate, nper, pv, [fv], [type])
=IPMT(rate, per, nper, pv, [fv], [type])
=PPMT(rate, per, nper, pv, [fv], [type])
=FV(rate, nper, pmt, [pv], [type])
=PV(rate, nper, pmt, [fv], [type])
=NPER(rate, pmt, pv, [fv], [type])
=RATE(nper, pmt, pv, [fv], [type], [guess])
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