To buy a U.S. Treasury bill, choose a term and place a noncompetitive auction order through TreasuryDirect or a bank, broker, or dealer. TreasuryDirect accepts noncompetitive bids only; the auction sets the rate, and you agree to accept it. If you hold the bill to maturity, your dollar return is its face value minus the price you paid. You can sell earlier, but the sale price may differ from the maturity value.
What you buy when you buy a Treasury bill
A Treasury bill is an electronic, marketable U.S. government security with a term of one year or less. The TreasuryDirect page lists 4-, 6-, 8-, 13-, 17-, 26-, and 52-week bills. The minimum purchase is $100, with additional purchases in $100 increments. Bills do not pay periodic coupon interest: they are sold at a discount, and Treasury pays the face value at maturity. The difference is the bill’s interest. TreasuryDirect: Treasury Bills
How to buy a bill
1. Choose a term and check the offering date
Match the term to when you may need the money. Treasury lists weekly auctions for 4-, 6-, 8-, 13-, 17-, and 26-week bills, and an auction every four weeks for 52-week bills. Schedules and specific offerings can change, so check the Treasury auction calendar for the bill you want.
2. Choose where to place the order
You can buy at auction through TreasuryDirect or through a bank, broker, or dealer. TreasuryDirect accepts noncompetitive bids only. Intermediaries may accept noncompetitive and competitive bids, and may also provide access to the secondary market. Consider your existing account access, whether you might need to sell before maturity, and any intermediary fees or service charges. Treasury’s sources do not establish one route as best for every investor. TreasuryDirect: Treasury Bills
The Tool Desk
Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →#1 Best Overall
3. Decide whether to bid noncompetitively or competitively
With a noncompetitive bid, you do not name a rate: you accept the rate determined at auction. Treasury says the requested amount is awarded in full within the applicable maximum. TreasuryDirect publishes a $10 million maximum for an individual noncompetitive bid. A competitive bid specifies the rate you are willing to accept; the bid can be awarded in full, in part, or not at all, and must be placed through an intermediary. Treasury also publishes a 35% of the offering amount maximum for competitive bids. Check current Treasury requirements before bidding. TreasuryDirect: Treasury Bills
4. Review the result and price
The auction determines the price and rate. For a TreasuryDirect auction purchase, the platform shows the price per $100 after the auction and withdraws the funds from the specified source before the bill is issued. Do not assume the rate is known when you schedule a purchase; it is set at auction. Review the current offering announcement and auction result for the specific bill. TreasuryDirect: Treasury Bills
How to calculate a bill’s return if you hold it to maturity
For a bill held to maturity, subtract the purchase price from the face value you receive. Treasury’s pricing formula is:
Price = Face value × (1 − (discount rate × time) / 360)
Free tools Windows power users keep installed
One-click scans. No signup required.
The formula uses a 360-day basis for bill pricing. The discount rate is not itself the dollar amount you earn. Treasury’s published illustration uses a $1,000 face-value, 182-day bill and a 0.145% discount rate: the price is $999.27, and the $1,000 maturity payment leaves a $0.73 difference. This is an illustrative example from TreasuryDirect, not a current auction quote or a personalized return estimate. TreasuryDirect: Treasury Bills TreasuryDirect: Understanding Pricing and Interest Rates
That $0.73 is the dollar difference over the bill’s term, not an annualized return. If comparing annualized yields, use the actual auction price and term and identify the yield convention; discount rates and other yield measures are not interchangeable. The quoted dollar difference also does not account for an individual investor’s taxes.
Rank #4
- STAY ON TOP OF EVERY MONTHLY BILL IN ONE PLACE – This bill tracker notebook is designed to help you organize rent, utilities, insurance, credit cards, subscriptions, and other recurring expenses in one easy system. As a practical monthly bill tracker and bill payment organizer, it helps households, busy families, couples, seniors, and anyone managing monthly bill payment keep everything clear, simple, and easy to review
- BUILT FOR REAL HOME AND PERSONAL FINANCE USE – More than a basic bill book organizer, this bill organizer notebook includes an annual overview, subscription and auto pay tracking pages, and detailed bill record pages for day-to-day use. Whether you use it at your kitchen counter, home office desk, family command center, or during monthly budgeting sessions, this monthly bill planner helps support better bill organization and a more consistent monthly bills payment checklist routine
- EASY-TO-USE BILL LOG PAGES THAT HELP REDUCE MISSED PAYMENTS – Each layout is made for simple tracking with space for paid status, bill name, due date, amount due, amount paid, unpaid balance, and notes. This bill payment checklist, payment tracker notebook, and monthly payment book gives you a clear way to track due dates, follow your payment plan, record your monthly payment plan, and keep important reminders in one organized place
- A4 SIZE WITH BLACK SPIRAL BINDING AND STORAGE POCKET – Designed as a durable bill organizer book and notebook for bills, this planner features a roomy A4 format that gives you more writing space than smaller books, plus black spiral binding for easy flipping and lay-flat use. A transparent storage pocket is placed before the back cover, making it convenient to hold receipts, statements, notices, or loose documents—ideal for anyone wanting a pay bills organizer book, monthly bill payment organizer, or bills book organizer monthly setup at home
- STURDY COVER, SMOOTH WRITING PAGES, AND A CLEAN PROFESSIONAL LOOK – Made with a 300 gsm coated paper cover and 100 GSM interior pages, this bill ledger book monthly for home is designed for regular monthly use while keeping a neat and polished appearance. It works well as a bill tracker notebook monthly bills organize solution for personal budgeting, household paperwork, and recurring bill management, making it a smart choice for anyone looking for a bills book, bill book monthly, best bill organizer book, or dependable bill payment record book
What changes if you sell before maturity
A bill can be sold before it matures, but the sale price comes from the secondary market and may be higher or lower than the maturity value. TreasuryDirect-held bills must first be transferred to a Commercial Book-Entry System account before they can be sold. Treasury says a fee normally applies to this service. For a bill held through a broker or other institution, ask that provider how to sell and what charges apply; the available sources do not establish a universal early-sale price. TreasuryDirect: Marketable Security Transfers
How Treasury bill interest is taxed
Treasury states that interest from marketable securities is subject to federal income tax and exempt from state and local income tax. TreasuryDirect account holders can access a detailed listing of taxable transactions and annual tax forms. These general rules do not calculate your personal after-tax return; consult a tax professional or the relevant tax authority about your circumstances. TreasuryDirect: Tax Forms and Withholding
Recommended Free Tools
Quick Recap
Best Value
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
