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T-Bill (Treasury 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

Enter face value, purchase price (or discount yield), and days to maturity. We return bank discount yield, investment yield, and dollar profit. Use the presets for common tenors: 4-week, 13-week (91-day), 26-week, and 52-week Treasury bills.

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.

Choose the 4-week T-bill preset (28 days) or set days to maturity to 28, then enter the purchase price (or discount yield). Auction prices change; presets are illustrative starting points, not live quotes.

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.