T-bill rates today
On Oct 21, 2026 Treasury bills yielded between 3.99% and 4.49%, with the highest yield on the 52-week bill. Figures update every business day from U.S. Treasury data.
Yields by term
| Term | Yield (coupon equivalent) | Bank discount rate | Date |
|---|---|---|---|
| 4-week | 3.99% | 3.92% | Oct 21, 2026 |
| 6-week | 4.03% | 3.96% | Oct 21, 2026 |
| 8-week | 4.07% | 3.99% | Oct 21, 2026 |
| 13-week (3 month) | 4.17% | 4.07% | Oct 21, 2026 |
| 17-week | 4.28% | 4.16% | Oct 21, 2026 |
| 26-week (6 month) | 4.36% | 4.21% | Oct 21, 2026 |
| 52-week (1 year) | 4.49% | 4.29% | Oct 21, 2026 |
Source: U.S. Department of the Treasury, Daily Treasury Bill Rates, rates for Oct 21, 2026. Coupon equivalent yield is the simple annual return; bank discount is the rate Treasury quotes at auction.
13-week T-bill yield, last 12 months
How to read this table
The coupon equivalent yield is the figure to compare with a savings or CD APY. It is a simple annual rate, while an APY includes compounding, so a T-bill rolled over at the same yield would earn slightly more than the number shown. The bank discount rate is the convention Treasury uses to price bills and is always a little lower.
These are the yields published by Treasury for each business day, based on secondary market quotes. Auction results can differ by a few hundredths of a percent.
Why T-bills can pay more than they look
T-bill interest is exempt from state and local income tax. If you pay 5% state income tax, a savings account needs a noticeably higher APY to leave you with the same amount after tax. Interest is still taxed federally.
Questions
- Which T-bill rate should I compare with a savings account APY?
- Use the coupon equivalent yield. It is the simple annual return on what you pay for the bill. The bank discount rate is lower because it is calculated on the face value, so it understates what you earn.
- Are T-bills taxed?
- Interest on Treasury bills is subject to federal income tax but exempt from state and local income tax. Interest on bank savings accounts and CDs is usually taxed by both, so in a high tax state a T-bill can beat a savings account with a higher headline rate.
- Are T-bills FDIC insured?
- No. T-bills are not bank deposits, so FDIC insurance does not apply. They are direct obligations of the U.S. government, backed by its full faith and credit.
- How do I buy T-bills?
- You can buy them at auction through TreasuryDirect, the Treasury's own site, with a $100 minimum, or through most brokerage accounts, which also let you buy on the secondary market and sell before maturity.
See our methodology for how we collect and check rates.