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Treasury Bill (T-Bill) Calculator

Calculate US Treasury bill yields from face value, purchase price, and days to maturity. See bank discount yield, investment (bond-equivalent) yield, and dollar profit at maturity — useful for modeling a cash sleeve alongside dividend stocks and ETFs.

Note: Illustrative math on a clean discount price (no accrued interest or auction fees). Not a live Treasury quote. For equity dividend income, use our dividend calculator. For longer bonds and preferreds, try our yield to maturity calculator.

T-bill inputs

Calculation mode
$
Typical bills: 4-week (28), 13-week (91), 26-week (182), 52-week (364).
$
%

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Investment yield
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365-day basis
Bank discount yield
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360-day basis
Profit at maturity
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Purchase price-
Maturity value (face)-
Price per $100 face-

Pair cash with dividend income

T-bills are one sleeve of an income portfolio. Explore equity dividends, ETF overlap, and alerts — free to start.

Free dividend & price alerts Portfolio Inspector Compare ETF vs cash (SRC) Dividend calendar Ex-dividend alerts (demo)

How T-bill yields work

Treasury bills are sold at a discount to face value and pay par at maturity — no periodic coupons. The bank discount yield (360-day year) is the quote convention on many platforms. The investment yield (365-day year, similar to bond-equivalent yield) reflects return on dollars actually invested and is usually slightly higher.

Frequently asked questions

A US Treasury bill is short-term government debt with maturities of one year or less, sold at a discount and redeemed at face value. Investors often use T-bills and Treasury ETFs as a cash or low-risk sleeve next to dividend stocks.

Bank discount yield uses a 360-day year and face value in the denominator. Investment yield uses a 365-day year and purchase price — closer to your true return on capital. This calculator shows both.

Many income investors hold a mix of dividend equities/ETFs and short Treasuries or Treasury ETFs (e.g. SGOV, BIL). Use this tool for bill math; use our Portfolio Inspector to see projected dividend income and ETF overlap on the equity side.

Yes. Create a free account for ex-dividend and price alerts, or browse the dividend calendar for upcoming dates.