Live Data · Updated After Every Auction

T-Bill Rates

The rate every Treasury bill sold at, from 4 weeks to 1 year, with what $10,000 costs and earns and when the next auction is. Updated within the hour after each auction closes.

Latest result: Sep 30, 2026 · 5,060 bill auctions since 2000

The latest auction of every bill

As of Sep 30, 2026, Treasury bills pay from 3.915% on the 4-week (1-month) bill to 4.616% on the 52-week (1-year) bill, by investment rate at the latest auction of each term. The 26-week (6-month) bill sold at 4.441% on Sep 28, 2026.

The latest auction result for every regular Treasury bill, from 4 weeks to 1 year
BillrateEarnsNext
4-Week1-monthSep 243.915%+3 bp$29.94cost $9,970.06Oct 1Thu
6-WeekSep 294.044%+10.2 bp$46.32cost $9,953.68Oct 6Tue
8-Week2-monthSep 244.071%+7.2 bp$62.07cost $9,937.93Oct 1Thu
13-Week3-monthSep 284.211%+9.8 bp$103.89cost $9,896.11Oct 5Mon
17-Week4-monthSep 304.230%−2.1 bp$136.02cost $9,863.98not yet
26-Week6-monthSep 284.441%+13.8 bp$216.63cost $9,783.37Oct 5Mon
52-Week1-yearSep 294.616%+45.5 bp$444.89cost $9,555.11not yet

Rate = investment rate at the latest auction (the bond-equivalent yield, the figure to compare with a savings or CD rate). Change = versus the previous auction of the same bill. $10,000 cost = the auction price for $10,000 of face value, which pays $10,000 at maturity; Earns = the difference. Next = the next announced auction; bidding closes 11:30 am Eastern and results post minutes later.

6-Month Bill

4.441%

3.828% a year ago

4-Week to 52-Week

+70 bp

longer bills pay more

Sold, Last 30 Days

$2.25T

28 bill auctions

Next Auction

Oct 1

Thursday · 4-week, 8-week

Rates by term, short to long

The investment rate at the latest auction of each bill, in maturity order, with the same bills a year ago behind it.

Treasury bill investment rates by term at the latest auction of each, with the same terms one year earlier3.5%4%4.5%5%4W1m6W8W2m13W3m17W4m26W6m52W1y3.915%4.044%4.071%4.211%4.230%4.441%4.616%

● latest auction · ○ a year earlier

A curve that rises left to right pays more for lending longer. When it slopes down, bidders expect rates to fall before the longer bills mature.

The 6-month bill pays 4.441% today against 3.828% at the Sep 22, 2025 auction, 61 bp higher.

Investment rates at auction

— 13-week · — 26-week · — 52-week · one point per auction · the 52-week bill sells every four weeks, the others weekly

Upcoming bill auctions

Announced bill auctions. Bidding closes at 11:30 am Eastern and the result lands on this page shortly after.

How to read a T-bill rate

Which rate is my rate?
Treasury reports two numbers for every bill auction. The discount rate is the old money-market convention: the discount as a share of face value, on a 360-day year. The investment rate converts the same result into a yield on the money you put in, on a 365-day year, which is how a bank quotes a savings account or a CD. TreasuryDirect shows the investment rate on your holdings, and it is the headline rate on this page. The discount rate is always a little lower.
What does $10,000 cost?
Bills pay no coupon. You buy at a discount and receive full face value at maturity. Treasury quotes the price per $100, so the 26-week bill priced at $97.833694 on Sep 28, 2026 cost $9,783.37 per $10,000 of face value and returns $10,000 about six months later; the $216.63 difference is the interest. The board shows the cost and the earnings for each term at its latest auction. TreasuryDirect sells bills in $100 increments.
How to buy at auction
Place a non-competitive bid through TreasuryDirect or a brokerage before the auction closes (11:00 am Eastern for non-competitive bids). You accept the rate the auction sets, you are filled in full up to $10 million, and you pay the auction price on the issue date, a few days after the auction (Tuesday for the 4, 8 and 17-week bills; Thursday for the 6, 13, 26 and 52-week). Competitive bids, where the bidder names a rate, are the province of dealers and institutions. Interest is taxed federally and exempt from state and local income tax.
When results come out
Bill auctions close to competitive bids at 11:30 am Eastern on auction day and Treasury posts the results within minutes. Most bills auction every week on a fixed weekday and the 52-week bill every four weeks; the schedule above shows what is announced, and this page refreshes shortly after each close.

Why we track this

Bills are the front end of the curve and the Treasury's pressure valve. When the government leans on bills to fund the deficit, a growing share of the national debt rolls over every few weeks, and the bill rate tracks the Fed's policy rate almost one for one, so the board above is a live read on both. Money market funds and stablecoin issuers hold trillions of these, and what bills pay is the floor under every other dollar yield.

For a saver, the same number answers a simpler question: what the safest dollar asset pays right now, with no bank in between. The longer end of the curve, where the fight over the term premium plays out, is on the Treasury auction tracker for notes, bonds and TIPS, with a demand grade for every sale.

Further reading from TFTC

More live data: Treasury note and bond auctions and daily Bitcoin ETF flows.

Frequently Asked Questions

What is the current 6-month T-bill rate?
At the Sep 28, 2026 auction, the 26-week (6-month) Treasury bill sold at an investment rate of 4.441% (discount rate 4.285%). $10,000 of face value cost $9,783.37 and pays $10,000 on Apr 1, 2027, earning $216.63. The investment rate is the bond-equivalent yield, the number to set beside a savings account or CD rate; the discount rate is the same result on Treasury's 360-day discount basis and is always a little lower.
What is the current 4-week T-bill rate?
At the Sep 24, 2026 auction, the 4-week (1-month) Treasury bill sold at an investment rate of 3.915% (discount rate 3.850%). $10,000 of face value cost $9,970.06 and pays $10,000 on Oct 27, 2026, earning $29.94. The investment rate is the bond-equivalent yield, the number to set beside a savings account or CD rate; the discount rate is the same result on Treasury's 360-day discount basis and is always a little lower.
What is the current 3-month T-bill rate?
At the Sep 28, 2026 auction, the 13-week (3-month) Treasury bill sold at an investment rate of 4.211% (discount rate 4.110%). $10,000 of face value cost $9,896.11 and pays $10,000 on Dec 31, 2026, earning $103.89. The investment rate is the bond-equivalent yield, the number to set beside a savings account or CD rate; the discount rate is the same result on Treasury's 360-day discount basis and is always a little lower.
What is the current 1-year T-bill rate?
At the Sep 29, 2026 auction, the 52-week (1-year) Treasury bill sold at an investment rate of 4.616% (discount rate 4.400%). $10,000 of face value cost $9,555.11 and pays $10,000 on Sep 30, 2027, earning $444.89. The investment rate is the bond-equivalent yield, the number to set beside a savings account or CD rate; the discount rate is the same result on Treasury's 360-day discount basis and is always a little lower.
When is the next T-bill auction?
The next Treasury bill auctions are the 4-week and 8-week bills on Thursday, Oct 1, 2026 ($100B and $95B). Treasury sells the 4, 6, 8, 13, 17 and 26-week bills every week and the 52-week bill every four weeks, announcing each a few days ahead. Competitive bidding closes at 11:30 am Eastern on auction day and Treasury posts the results within minutes.
What time are T-bill auction results released?
Bill auctions close to non-competitive bids at 11:00 am Eastern and to competitive bids at 11:30 am Eastern, and Treasury posts the results within minutes, usually before noon. Note and bond auctions close later, at 1:00 pm Eastern. This page refreshes shortly after each close.
What is the difference between the discount rate and the investment rate?
Both describe the same auction result. The discount rate states the discount from face value as a percentage of face value, annualized on a 360-day year; it is the traditional money-market convention and the lower of the two numbers. The investment rate, also called the bond-equivalent or coupon-equivalent yield, states the same gain as a percentage of what you paid, annualized on a 365-day year, which is how a savings account, a CD or a Treasury note quotes its rate. The investment rate is the one to use when comparing a bill with other savings options, and it is the headline rate on this page.
Can I buy T-bills at auction?
Yes. Individuals can place a non-competitive bid through TreasuryDirect (from $100) or most brokerages (usually from $1,000), up to $10 million per auction, and receive the rate the auction sets. You pay the discounted price on the issue date and receive the full face value at maturity; the difference is your interest. Interest on Treasury bills is subject to federal income tax and exempt from state and local income tax. This page shows what each auction cleared at, not a recommendation to buy.
How much does a $10,000 T-bill cost?
It depends on the term and the rate the auction set. At the latest auctions, $10,000 of face value cost $9,970.06 for the 4-week bill (earning $29.94 at maturity) and $9,555.11 for the 52-week (1-year) bill (earning $444.89). The board at the top of this page shows the cost and the earnings for every term.
Where does this data come from?
Every figure comes from the US Treasury: the Fiscal Data auctions dataset for the full history back to 2000, TreasuryDirect for same-day results and the upcoming schedule, and Treasury's official results announcements, linked on every auction. The $10,000 cost and earnings are the auction price per $100 scaled to $10,000 of face value and rounded to the cent.

Data: US Department of the Treasury, via Fiscal Data (history since 2000) and TreasuryDirect (same-day results and the schedule). Cash management bills are not included. The $10,000 cost and earnings are TFTC's arithmetic from Treasury's price per $100. Full history available as open JSON (CC BY 4.0, cite TFTC). Not investment advice.

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