T-bill guide
How to purchase a T-bill at TreasuryDirect
Open a TreasuryDirect account and place a non-competitive bid for a Treasury bill.
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This guide walks through opening a TreasuryDirect account and placing a non-competitive bid for a Treasury bill, using official Treasury auction data.
Latest bill auctions through Nov 9, 2026. Rules checked at TreasuryDirect Oct 23, 2026.
Seven steps
- Check eligibility. Per TreasuryDirect (FS Pub 009) and its FAQ, an individual account needs: age 18 or over, a Social Security Number, a U.S. address of record, a checking or savings account at a U.S. financial institution that accepts ACH debits and credits, and an email address.
- Open the account. At TreasuryDirect.gov choose Open an Account, then Individual, and complete the online application (owner, contact and bank information). TreasuryDirect emails your account number; sign-ins use the account number, password and an emailed one-time passcode.
- Pick a term. TreasuryDirect offers bills of 4, 6, 8, 13, 17, 26 and 52 weeks. Bills of 4 to 26 weeks auction weekly; 52-week bills every four weeks. See the upcoming bill auctions below or the auction calendar.
- Schedule the purchase. In your account, open the purchase tab, choose Bills and the term, enter the amount ($100 minimum, $100 increments, up to $10 million) and the bank account to debit. The bid is non-competitive: you accept the rate set at auction, which you do not know when you schedule it.
- Choose reinvestment. You can set the bill to reinvest into the same type of bill when it matures, or let the face value pay out to your bank account.
- Check results and fund the account. After 5 PM Eastern on auction day, Current Holdings → Pending Purchases and Reinvestments shows the price. Have the money in your bank account before the issue date.
- At maturity. You receive the face value (or it reinvests). The difference between the price paid and face value is the interest, taxable federally and exempt from state and local income tax.
Steps follow TreasuryDirect's marketable-securities purchase page and FAQ, checked Oct 23, 2026. Menu names on TreasuryDirect can change; its site is authoritative. Bid cutoff times are not stated on those pages and are not listed here.
Latest T-bill auction results
| Term | Auction | Inv. rate | Cost of $1,000 face | Source | Next |
|---|---|---|---|---|---|
| 4-Week | 3.956% | $996.97 | results PDF | Compare Stock Rover plans | |
| 8-Week | 4.055% | $993.82 | results PDF | Compare Stock Rover plans | |
| 13-Week | 4.159% | $989.74 | results PDF | Compare Stock Rover plans | |
| 17-Week | 4.204% | $986.48 | results PDF | Compare Stock Rover plans | |
| 26-Week | 4.293% | $979.04 | results PDF | Compare Stock Rover plans | |
| 52-Week | 4.496% | $956.62 | results PDF | Compare Stock Rover plans |
Latest auction per term, U.S. Treasury Fiscal Data API (retrieved Nov 10, 2026); each row links to the official results PDF. Investment rate is the bond-equivalent yield. Price per $100 is computed here from the high discount rate: 100 × (1 − discount rate × days ÷ 360), days from issue to maturity; TreasuryDirect shows the actual price after the auction. Cost of $1,000 face = 10 × price per $100.
Upcoming bill auctions
| Auction date | Term | Issue date | Source | Next |
|---|---|---|---|---|
| 17-Week | announcement PDF | Compare Stock Rover plans | ||
| 4-Week | announcement PDF | Compare Stock Rover plans | ||
| 8-Week | announcement PDF | Compare Stock Rover plans |
Announced and tentative bill auctions, U.S. Treasury Fiscal Data API (retrieved Nov 10, 2026). Schedules can change.
Rules at a glance
| Item | TreasuryDirect rule | Next |
|---|---|---|
| Terms | 4, 6, 8, 13, 17, 26 and 52 weeks | Compare Stock Rover plans |
| Minimum and increments | $100, in $100 increments | Compare Stock Rover plans |
| Maximum | $10 million per auction (non-competitive bid) | Compare Stock Rover plans |
| Bid type at TreasuryDirect | Non-competitive only; rate set at auction | Compare Stock Rover plans |
| Holding period before transfer | 45 calendar days (not for reinvestments) | Compare Stock Rover plans |
| Taxes | Federal income tax; no state or local income tax | Compare Stock Rover plans |
| Cash Management Bills | Not sold in TreasuryDirect | Compare Stock Rover plans |
Source: TreasuryDirect, Treasury Bills and marketable-securities purchase page, checked Oct 23, 2026.
Related: T-bill vs CD vs savings after-tax yield · savings accounts and the FDIC rate cap · T-bills maturing around Jan 1 · where to park cash · I bond vs T-bill vs CD · ladder calculator · Treasury auction results · Treasury yield curve explained · T-bills at TreasuryDirect vs a brokerage · T-bill calculator.
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Frequently asked questions
What is the minimum for a T-bill at TreasuryDirect?
TreasuryDirect lists a $100 minimum, in $100 increments, up to $10 million per auction for a non-competitive bid (checked Oct 23, 2026).
Do I choose the rate?
No. TreasuryDirect accepts non-competitive bids only, which means you accept the rate set at the auction. Competitive bids go through a bank, broker or dealer.
When is the money taken from my bank account?
TreasuryDirect debits the source of funds you chose (a bank account or Certificate of Indebtedness). Per TreasuryDirect, auction results show after 5 PM Eastern on auction day, and the money needs to be in the account before the issue date.
Can I exit a T-bill held at TreasuryDirect before it matures?
TreasuryDirect says new securities bought there must be held at least 45 calendar days before they can be transferred or sold. That holding period does not apply to reinvestments of a maturing security.
How is T-bill interest taxed?
TreasuryDirect lists bill interest as subject to federal income tax and exempt from state and local income tax. This page is general information, not personalized tax advice.