Latest T-bill auction results
These are the results of the most recent auction for each regular bill term, from TreasuryDirect's auction records.[1] The high discount rate sets the price; the investment rate is the yield on the price paid, comparable to a CD's APY or a bond's yield.
| Bill | Auction | Matures | High discount rate | Investment rate | Cost of $10,000 |
|---|---|---|---|---|---|
| 4-week | November 12, 2026 | December 15, 2026 | 3.955% | 4.022% | $9,969.24 |
| 6-week | November 9, 2026 | December 24, 2026 | 3.990% | 4.064% | $9,953.45 |
| 8-week | November 12, 2026 | January 12, 2027 | 4.080% | 4.163% | $9,936.53 |
| 13-week | November 9, 2026 | February 11, 2027 | 4.060% | 4.159% | $9,897.37 |
| 17-week | November 12, 2026 | March 16, 2027 | 4.225% | 4.344% | $9,860.34 |
| 26-week | November 9, 2026 | May 13, 2027 | 4.145% | 4.293% | $9,790.45 |
| 52-week | October 27, 2026 | October 28, 2027 | 4.290% | 4.496% | $9,566.23 |
Treasury auctions 4-, 6-, 8-, 13-, 17- and 26-week bills every week and 52-week bills every four weeks.[2] The 52-week figure above is from its October 27, 2026 auction; the others are from the week of November 9, 2026.
What $10,000 in T-bills earns
You pay less than face value and receive the full $10,000 at maturity. At the latest rates:
| Bill | You pay | Interest at maturity | Yearly if rolled at this rate |
|---|---|---|---|
| 4-week (28 days) | $9,969.24 | $30.76 | 4.098% |
| 6-week (42 days) | $9,953.45 | $46.55 | 4.138% |
| 8-week (56 days) | $9,936.53 | $63.47 | 4.237% |
| 13-week (91 days) | $9,897.37 | $102.63 | 4.224% |
| 17-week (119 days) | $9,860.34 | $139.66 | 4.408% |
| 26-week (182 days) | $9,790.45 | $209.55 | 4.339% |
| 52-week (364 days) | $9,566.23 | $433.77 | 4.547% |
The last column assumes you reinvest at the same rate each time a bill matures; real rates change from auction to auction. Price any amount and term with the T-bill calculator.
Discount rate vs investment rate
T-bill rates are published two ways. The discount rate is the discount from face value on a 360-day year: price per $100 = 100 × (1 − rate × days ÷ 360). The investment rate restates the return on the money actually paid, over a 365- or 366-day year, so it is always higher.[3] For the 26-week bill, a 4.145% discount rate gave a 4.293% investment rate. Compare the investment rate, not the discount rate, with savings APYs.
Why T-bill rates move
Bill rates track the Federal Reserve's policy rate and the market's expectations for it. The FOMC raised the federal funds target range to 3.75%–4.00% on September 16, 2026 and held it on October 28, 2026; its next meeting is December 8–9, 2026.[4] At these auctions longer bills paid more than shorter ones.
T-bill rates vs savings and CDs
The latest 4-week bill's 4.022% compares with an FDIC national average of 0.38% on savings and 1.76% on 12-month CDs (published October 19, 2026).[5] Bill interest is also exempt from state and local income tax, though federal tax applies.[6] The T-bill calculator shows the taxable APY a CD would need to match a bill after state tax; for a direct comparison of terms, see the CD calculator and the high yield savings account calculator.
Updated weeklyBill rates change at every auction. This page lists the latest result for each term with its date; check TreasuryDirect for auctions after that date.
Related calculators
- T-bill calculatorPrice, investment rate and the state-tax edge over a CD
- I bond ratesCurrent composite, fixed and inflation rates, and the history
- CD ladder calculatorRungs, blended APY and the ladder against a single CD
Frequently asked questions
What is the current T-bill rate?
At the latest auctions: 4.022% for 4-week bills, 4.159% for 13-week, 4.293% for 26-week and 4.496% for 52-week bills (investment rates).
How often are T-bills auctioned?
Every week for 4-, 6-, 8-, 13-, 17- and 26-week bills, and every four weeks for 52-week bills.
Which T-bill rate should I compare with a savings account?
The investment rate. It measures the return on the price you pay over a full year, like an APY; the discount rate understates it.
Are T-bill rates going up?
They follow the Fed. The target range has been 3.75%–4.00% since September 16, 2026; the next decision is due December 8–9, 2026.
Sources
- Auctioned securities: Treasury bills, last 40 days (auction results)
- Treasury Bills
- 31 CFR part 356, Appendix B, Formulas and Tables (section VI, Treasury bills)
- Federal Reserve issues FOMC statement (target range 3-3/4 to 4 percent)
- National Rates and Rate Caps, October 2026
- Topic no. 403, Interest received