Treasury Bill T-Bill Yield Calculator (2026)

Calculate annualized YTM yield and maturity returns for 91-day, 182-day, and 364-day RBI G-Sec T-Bills.

T-Bill Bidding Parameters

₹
₹

Annualized Yield to Maturity (YTM)

6.73% p.a.

Maturity Redemption Payout

₹1,01,677

Net Short-Term Capital Gain

₹1,677

G-Sec Transaction Audit

Discount Amount Per ₹100 Unit ₹1.65
Sovereign Risk Credit Grade AAA Sovereign (Zero Default Risk)

RBI Treasury Bill Yield Formulas (2026)

Treasury Bills are sovereign short-term discount bonds issued by the Reserve Bank of India:

T-Bill Tenure Auction Frequency YTM Formula
91-Day T-Bill Weekly (Every Wednesday) [(100 - Price) / Price] * (365 / 91) * 100
182-Day T-Bill Bi-Weekly [(100 - Price) / Price] * (365 / 182) * 100
364-Day T-Bill Bi-Weekly [(100 - Price) / Price] * (365 / 364) * 100

RBI Treasury Bill (T-Bill) Mechanics & Tenures

Annualized YTM Formula & Tax Treatment

Sovereign Safety Advantage

Treasury Bills offer 100% sovereign credit backing from the Government of India, making them safer than bank FDs for parking short-term surplus funds.

Frequently Asked Questions

What are Treasury Bills (T-Bills)?
Treasury Bills (T-Bills) are short-term money market debt instruments issued by the Reserve Bank of India (RBI) on behalf of the Government of India.
What are the standard T-Bill tenures in India?
RBI issues T-Bills in three maturity tenures: 91-Day T-Bills, 182-Day T-Bills, and 364-Day T-Bills.
How do T-Bills generate returns without paying coupons?
T-Bills are zero-coupon securities issued at a discount to Face Value (₹100) and redeemed at full Face Value (₹100) upon maturity.
What is the annualized yield formula for T-Bills?
Formula: Annualized Yield % = [(Face Value - Purchase Price) / Purchase Price] * (365 / Tenure Days) * 100.
How is T-Bill interest income taxed in India?
T-Bill returns are treated as Short-Term Capital Gains (STCG) and added to the investor's total income, taxed at their applicable slab rate.
Is TDS deducted on RBI Treasury Bills?
No. There is zero Tax Deducted at Source (TDS) on RBI Treasury Bills.
How can retail investors buy T-Bills in India?
Retail investors can purchase T-Bills directly through the RBI Retail Direct Portal or via stockbrokers (Zerodha Coin, Groww) in non-competitive bidding auctions.
Are T-Bills safer than Bank Fixed Deposits?
Yes. T-Bills carry sovereign credit backing from the Government of India, making them risk-free short-term investments superior to bank deposits.