T-bill rates at the latest Treasury auctions
Treasury bill rates are set at auction each week. The latest results: 4-week 4.068 %, 6-week 4.055 %, 8-week 4.132 %, 13-week 4.185 %, 17-week 4.313 %, 26-week 4.351 %, 52-week 4.616 %, as investment rates.
26-week bill, auction of October 13, 2026
4.351 %
Investment rate (bond-equivalent yield). You pay $9,787.67 and receive $10,000 on April 15, 2027.
| Discount rate | 4.200 % |
| Price per $100 | 97.876667 |
| Interest at maturity | $212.33 |
| Days to maturity | 182 |
| Issue date | October 15, 2026 |
| Term | Auction | Discount | Investment rate | Price per $100 |
|---|---|---|---|---|
| 4-week | October 15, 2026 | 4.000 % | 4.068 % | 99.688889 |
| 6-week | October 13, 2026 | 3.980 % | 4.055 % | 99.524611 |
| 8-week | October 15, 2026 | 4.050 % | 4.132 % | 99.37 |
| 13-week | October 13, 2026 | 4.085 % | 4.185 % | 98.967403 |
| 17-week | October 14, 2026 | 4.195 % | 4.313 % | 98.613319 |
| 26-week | October 13, 2026 | 4.200 % | 4.351 % | 97.876667 |
| 52-week | September 29, 2026 | 4.400 % | 4.616 % | 95.551111 |
Worked out by Radif Partners · How we calculate · rates read on treasurydirect.gov and fiscaldata.treasury.gov · not personal financial advice
Treasury bill rates come from the weekly auctions the Treasury holds for each term, and two numbers describe each result. The discount rate sets the price: a 26-week bill auctioned on October 13, 2026 at 4.200 % sold for 97.876667 per $100, so $10,000 of face value cost $9,787.67 and pays back $10,000 on April 15, 2027. The investment rate, also called the bond-equivalent yield, turns that gain into an annual rate on the money actually paid: 4.351 %. It is the figure to compare with a savings account or a CD. At the latest auctions the highest investment rate was on the 52-week bill, 4.616 %, and the lowest on the 6-week bill, 4.055 %. Bill interest is subject to federal income tax and exempt from state and local income tax. Figures are read from the Treasury's auction data on Fiscal Data, last on October 19, 2026.
Latest result of each term
| Term | Auction | Discount rate | Investment rate | Price per $100 | Cost of $10,000 |
|---|---|---|---|---|---|
| 4-week | October 15, 2026 | 4.000 % | 4.068 % | 99.688889 | $9,968.89 |
| 6-week | October 13, 2026 | 3.980 % | 4.055 % | 99.524611 | $9,952.46 |
| 8-week | October 15, 2026 | 4.050 % | 4.132 % | 99.37 | $9,937.00 |
| 13-week | October 13, 2026 | 4.085 % | 4.185 % | 98.967403 | $9,896.74 |
| 17-week | October 14, 2026 | 4.195 % | 4.313 % | 98.613319 | $9,861.33 |
| 26-week | October 13, 2026 | 4.200 % | 4.351 % | 97.876667 | $9,787.67 |
| 52-week | September 29, 2026 | 4.400 % | 4.616 % | 95.551111 | $9,555.11 |
The cost column is what $10,000 of face value cost at each auction. The difference with $10,000 is the interest, paid at maturity. A 4-week bill earns about a month of interest, a 52-week bill a year's: on the latest auctions $31.11 and $444.89.
Reading the two rates
The Treasury explains both on its pricing page (TreasuryDirect, understanding pricing). The discount rate is the gain divided by the face value, scaled to a 360-day year: on the 13-week bill of October 13, 2026, a $1.03 gain per $100 over 91 days gives 4.085 %. The investment rate divides the same gain by the price instead of the face value and uses a 365-day year, or 366 when a February 29 falls within the year after issue: 4.185 %. For the 52-week bill the investment rate uses a formula that accounts for semiannual compounding, so it can be compared with Treasury notes. The T-bill calculator applies both formulas to any discount rate.
Cost and interest for another term
8-week bill, auction of October 15, 2026
4.132 %
| Discount rate | 4.050 % |
| Price per $100 | 99.37 |
| Interest at maturity | $157.50 |
| Days to maturity | 56 |
How terms compare at the latest auctions
Longer bills do not always pay more. At the latest auctions the order from highest to lowest investment rate was 52-week, 26-week, 17-week, 13-week, 8-week, 4-week, 6-week. The spread between the top and the bottom was 0.561 %. Rates of different terms reflect what the market expects short-term rates to do over each period; a higher 52-week rate than 4-week rate means buyers asked more to lock money for a year. Each auction is a single price, and the next one can move in either direction.
The Treasury bill rate history page lays the auctions of the past year side by side, month by month, for four terms.
Who sets the rate
Banks, dealers and large investors submit competitive bids that name a discount rate; individuals in TreasuryDirect submit noncompetitive bids that name only an amount. The Treasury accepts the noncompetitive bids first, then competitive bids from the lowest rate up until the offering is filled. The highest rate accepted becomes the rate for everyone in that auction, which is why the tables on this page show a single figure per auction. TreasuryDirect caps a noncompetitive purchase at $10,000,000 per auction and allows any multiple of $100 from $100 (TreasuryDirect, Treasury bills).
Next auctions
The auctions already announced and not yet held, at the time the site was built, are: 13-week on October 19, 2026, 26-week on October 19, 2026, 6-week on October 20, 2026. Announcements usually come a few days before each auction, with the amount offered and the issue and maturity dates. Results appear on TreasuryDirect the day of the auction and on Fiscal Data soon after; the site reads them when it is rebuilt.
Bill rates next to savings bonds
A bill and a savings bond answer different needs, and their rates are not set the same way. A bill's rate is fixed for its term only, from four weeks to a year, and whoever wants to keep the money in bills rolls it into a new auction at whatever rate that auction gives. An I bond's rate is reset every six months from inflation and the bond can run for 30 years, but it cannot be cashed during the first year and loses three months of interest before five. An EE bond pays a fixed rate of 2.40 % and doubles at 20 years. On the latest figures, the 52-week bill paid 4.616 % and new I bonds earn 4.26 % until the end of October 2026. Both are exempt from state income tax.
Tax on bill interest
The gain on a bill is interest for federal tax and is reported in the year the bill matures, or in the year you sell it. It is exempt from state and local income tax (31 U.S.C. 3124), which is worth more where state rates are high: the state tax page converts each bill rate into the yield a taxable account would need in each state, and T-bill versus CD runs the comparison for one household. Savings bonds share the same exemption; their rates are on the I bond rates page.