Treasury Bill Yield Calculator
Enter a face value and discount rate to see yield and profit across every standard T-bill term — 4-week through 52-week.
Inputs
All six standard terms at the rate above:
| Term | Days | Purchase Price | Discount Yield | Inv. Yield (BEY) | Profit |
|---|
About These Calculations
The calculator uses the standard U.S. Treasury discount-yield formulas published by the U.S. Treasury and used in all official auction result publications:
- Discount yield (auction-quoted rate):
(FV − P) ÷ FV × (360 ÷ t) - Investment yield / BEY (apples-to-apples with CDs and bonds):
(FV − P) ÷ P × (365 ÷ t) - Price from rate:
P = FV × (1 − d × t/360)
Current auction rates are not stored in this tool. Find the latest rates at TreasuryDirect.gov → Auction Query.
Frequently Asked Questions
A higher discount rate applies to more days, so the total discount from face value is larger for a longer maturity. A 52-week T-bill at 4% discount yields about $400 in profit on a $10,000 face-value bill, while a 4-week T-bill at the same 4% discount rate yields about $31.
The 4-week, 8-week, 13-week, and 26-week T-bills are auctioned weekly. The 17-week bill is auctioned weekly as well. The 52-week bill is auctioned every four weeks.
BEY stands for bond-equivalent yield. It converts the discount-basis yield to a 365-day-year return based on the price you actually pay, making it directly comparable to APY on CDs or the coupon yield on bonds.
Yes. Each term is auctioned separately and the market bids different discount rates for each maturity. Longer-term bills typically (but not always) carry slightly higher yields. This calculator applies one discount rate across all terms for comparison purposes.
TreasuryDirect.gov publishes all recent auction results. Check the "Recent Auction Results" page for the latest rates for each term.