T-bill rates today for every Treasury bill term, 4 to 52 weeks

Treasury records one official set of bill rates for each business day, and the table below carries the latest set for all seven terms. The figures are closing quotes from the secondary market, where issued bills change hands, so they show where each term traded at the end of the day, not the rate the next auction will set. Below the table: how to read each column, how quotes relate to auction results, when new figures arrive and how to compare a bill with a savings APY. For everything else about owning Treasuries, start at the US Treasuries hub.

How do you read the T-bill rate table?

Each row is one bill term, and its two rates describe the same bill in two conventions; use the investment yield whenever you compare a bill with anything else.

• Term. The bill's length at issue. The 13-week bill is the one usually called the 3-month T-bill, and the 52-week is the 1-year bill. Each row quotes the most recently auctioned bill of that term.
• Discount rate. The dollar discount as a share of face value, annualized over a 360-day year. Bills are bid and priced in this convention.
• Investment yield. Treasury's coupon-equivalent yield: the same discount measured against the price paid and annualized over 365 days, or 366 when the year after issue includes February 29. It is always the higher rate, and for the 52-week bill it assumes compounding at the half-year, as a note's yield does.
• Price per $1,000. What $1,000 of face value costs at the row's discount rate for exactly that term, such as 91 days for the 13-week bill. The shortfall from $1,000 is the interest paid at maturity.
• Change over a month and a year. The move in the investment yield, in percentage points, since the nearest business day on or before the same date a month and a year earlier.

Because Treasury rounds its quotes to two decimals and the quoted bill has often been trading for a few days, recomputing a yield from the discount rate can land 0.01 point off the published figure. Both formulas, with worked examples, are on T-bill discount rate vs investment rate. Bill yields also track the Fed's policy rate, whose target range was 3.75% to 4.00% after the October 28, 2026 meeting, as how Fed rate decisions affect T-bill rates explains. For 2- to 30-year yields, see the Treasury yield curve today.

What does a $10,000 13-week bill cost today?

At today's 13-week discount rate, a $10,000 bill costs a little under $10,000, and that shortfall is the interest Treasury pays you at maturity.

You pay the price on the issue date, the Thursday after the Monday auction, and receive the face value 91 days later; a bill has no coupon, so the whole return is the gap between the two. If the live rate is missing, the example uses an illustrative 4.0% discount rate and says so. The arithmetic works for any amount from $100, in $100 increments, placing an order is covered in how to buy Treasury bills, and other amounts and terms can be priced in the Treasury bill calculator.

Why are daily T-bill rates different from auction results?

Daily rates are indicative bid quotes taken around 3:30 PM on bills already trading, while an auction sets one rate, once, for a newly issued bill.

The Federal Reserve Bank of New York obtains those closing quotes for Treasury from the over-the-counter market. Four things separate them from an auction result:

• Timing. Each term is auctioned on a fixed weekday, and the market moves in between: a Friday quote reflects four days of news the Monday 13-week auction never saw.
• Bid side. The quotes are what dealers would pay. Buying an existing bill from a broker means paying the ask, a slightly higher price and so a slightly lower yield.
• Auction-day demand. The high rate depends on that day's bids. The bid-to-cover ratio, the dollars bid for each dollar sold, is a rough gauge of demand.
• Days to maturity. A bill quoted a week after issue has a week less to run, which shifts its price and yield slightly.

In the auction table, the high discount rate is the stop-out rate: Treasury fills noncompetitive bids first, then competitive bids from the lowest rate up until the offering is covered, and every accepted bidder, TreasuryDirect buyers included, gets that highest accepted rate. Offering size is the face amount Treasury set out to sell, and cash management bills, sold irregularly for short-term borrowing needs, can appear among the regular terms. How Treasury auctions work covers bidding and allotment.

When does Treasury publish new T-bill rates?

Treasury publishes one set of bill rates for each business day the bond market is open, based on quotes collected at about 3:30 PM Eastern.

Treasury says its yield curve rates, fitted to the same afternoon quotes, are usually posted by 6:00 PM Eastern Time each trading day, though system problems can delay them. Weekends and bond-market holidays get no figures: Treasury's October 2026 bill table has no entry for Monday, October 12, the Columbus Day holiday, so on such days the table above keeps the last business day's numbers.

This page checks Treasury's data several times a day and rebuilds hourly, so new figures normally appear here within a few hours of Treasury posting them. Auction results run on a different clock: TreasuryDirect buyers see their result after 5 PM Eastern on auction day, but the Fiscal Data dataset behind the auction table is updated as needed and can lag by a day or more. How these figures are sourced is described in our editorial policy.

How do T-bill rates compare with a savings account APY?

Convert the bill's investment yield to an APY, then allow for state income tax, which savings interest pays and Treasury bill interest does not.

An investment yield is a simple annual rate, while a savings APY, as defined in the Truth in Savings rules, includes a year of compounding. To compare them, compound one term's return over a year, the idea behind APY vs APR:

For the 52-week bill, whose yield already assumes compounding at the half-year, Treasury's conversion for semiannual yields applies instead: APY = (1 + yield ÷ 2)² − 1. Both versions assume you could reinvest at the same rate at every maturity, which nobody promises.

Rate is only part of the choice. Savings can be withdrawn any day and are insured by the FDIC up to $250,000 per depositor, per insured bank, per ownership category; a bill is backed by the full faith and credit of the US government with no per-account cap, but the money is committed until the bill matures or you sell it. The tax rules are in are T-bills taxable, the full side-by-side is in T-bills vs high-yield savings, and the compound interest calculator shows what an APY grows to over several years.

Are T-bill rates beating inflation?

Only narrowly: September 2026's 12-month CPI inflation of 3.7% left a 13-week bill yielding about 4.1% less than half a point ahead, before tax.

The solid line is Treasury's 3-month constant maturity yield, a monthly average since 2000 read from the par yield curve; it sits close to the 13-week bill's investment yield but is calculated differently. The dashed red line is 12-month inflation in the consumer price index for all urban consumers (CPI-U) from the Bureau of Labor Statistics. Where the solid line runs below the dashed one, bills were losing purchasing power, and the table under the chart counts the months in which the yield came out ahead.

Subtracting the CPI change from a bill yield gives a rough real yield, though CPI looks back over 12 months while the bill yield looks ahead; the October 2026 index is scheduled for release on November 10, 2026. Tax tightens the picture: at a 24% federal rate, a 4.08% bill keeps 4.08% × (1 − 0.24) = 3.10%, about 0.6 point below 3.7% inflation. Real returns and inflation has the exact formula. For protection against inflation itself, I bonds bought from November 1, 2026 to April 30, 2027 start at a composite rate of 5.51%, and I bonds vs T-bills weighs them against bills.

What are the risks of buying T-bills at today's rates?

The main risks are reinvesting later at a lower rate, inflation outrunning the yield, and needing to sell before maturity at whatever price the market offers.

Repayment is backed by the full faith and credit of the US government, so the uncertainty sits around the bill rather than in it:

• Reinvestment risk. The 52-week auction cleared at a 3.345% discount rate on February 17, 2026 and at 4.400% on September 29, 2026, so the rate at your next rollover can differ by a full point within months.
• Inflation risk. A positive yield can still lose purchasing power after tax, as the inflation section shows.
• Price risk if you sell early. If the discount rate on a $10,000 52-week bill rose 1 point just after purchase, its value would drop by about $101; on a 4-week bill, by about $8. See selling Treasuries before maturity.
• Access risk. Inside TreasuryDirect, a new purchase cannot be sold or moved to a broker for 45 calendar days, which is longer than a 4-week or 6-week bill lasts.
• Quote risk. The table shows indicative quotes, not firm prices; the next auction or a broker's ask can come in above or below them.

Are Treasuries risk-free? covers the wider picture, and T-bill terms compared helps you choose among the seven terms by auction day, rollover frequency and liquidity.