Treasury bill rates today
On 22 Oct 2026 the 3-month Treasury bill yield was 4.22%, the 6-month 4.29% and the 1-year 4.41%. The 1-month bill yielded 4.11%. These are end-of-day constant-maturity yields from the US Treasury, updated every business day, with the full bill curve, history back to 1990 and how to buy T-bills below.
Treasury bill rates by maturity
| Bill | Yield | 1 day | 1 week | 1 month | 1 year |
|---|---|---|---|---|---|
| 1-month | 4.11% | +2 bp | −6 bp | +14 bp | 0 bp |
| 2-month | 4.16% | 0 bp | −3 bp | +7 bp | +12 bp |
| 3-month | 4.22% | −3 bp | −6 bp | +6 bp | +26 bp |
| 4-month | 4.29% | −5 bp | −6 bp | +3 bp | +39 bp |
| 6-month | 4.29% | −6 bp | −6 bp | +3 bp | +51 bp |
| 1-year | 4.41% | −11 bp | −8 bp | −2 bp | +86 bp |
Yields are the US Treasury daily par yield curve for 22 Oct 2026, on a bond-equivalent basis. Changes are in basis points (100 bp = 1 percentage point); a higher bill yield is shown in green, a lower one in red. The 2-month series starts in 2018 and the 4-month series in 2022, when the Treasury began publishing them.
The bill curve: today, a month ago, a year ago
3-month Treasury bill rate since 1990
The 3-month bill yield today is 4.22%. The lowest reading in the series is 0.00% (first on 22 Sep 2011). Use the buttons to change the range; Max goes back to 1990.
Year-end Treasury bill rates
| Year | 3-month | 6-month | 1-year |
|---|---|---|---|
| 2026 (to 22 Oct 2026) | 4.22% | 4.29% | 4.41% |
| 2025 | 3.67% | 3.59% | 3.48% |
| 2024 | 4.37% | 4.24% | 4.16% |
| 2023 | 5.40% | 5.26% | 4.79% |
| 2022 | 4.42% | 4.76% | 4.73% |
| 2021 | 0.06% | 0.19% | 0.39% |
| 2020 | 0.09% | 0.09% | 0.10% |
| 2019 | 1.55% | 1.60% | 1.59% |
| 2018 | 2.45% | 2.56% | 2.63% |
| 2017 | 1.39% | 1.53% | 1.76% |
| 2016 | 0.51% | 0.62% | 0.85% |
Yield on the last trading day of each year; the current year shows the latest day.
How Treasury bills work
A Treasury bill is a loan to the US government for a year or less. You pay less than the face value today and receive the full face value at maturity, so, for example, a bill bought at $9,900 that matures at $10,000 earns $100 in interest. There is no coupon. Because the US government issues them and they are short, bills are treated as the closest thing to a risk-free dollar rate, and their yields are the starting point for pricing short-term borrowing and cash returns.
Bill yields follow expectations for the Federal Reserve's policy rate over the life of the bill, plus supply and demand at the Treasury's auctions. The fed funds target range is currently 3.75 to 4.00% (effective rate 3.88% on 21 Oct 2026); the 3-month bill yield of 4.22% is 22 basis points above the top of that range. See also the central bank rates table.
Bills, notes and bonds. Bills mature in a year or less and pay no coupon. Notes mature in 2 to 10 years and bonds in 20 to 30 years; both pay interest every six months. On 22 Oct 2026 the 2-year yield was 4.65%, the 10-year 4.96% and the 30-year 5.29%: all maturities are on the US Treasury yields page.
How to buy. New bills are sold at auction; individual investors can bid through a TreasuryDirect account or buy through a bank or broker, where existing bills can also be bought before they mature. A bill held to maturity returns its face value; one sold earlier is sold at the market price, which moves with interest rates. This is general information and not a recommendation to buy or sell.
Frequently asked questions
What is the 3-month Treasury bill rate today?
On 22 Oct 2026 the 3-month Treasury bill yield was 4.22%, up 6 basis points over the past month. The 6-month yield was 4.29% and the 1-year yield 4.41%. These are end-of-day constant-maturity yields from the US Treasury daily par yield curve, not live quotes.
What is a Treasury bill?
A Treasury bill (T-bill) is a short-term debt security issued by the US government with a maturity of one year or less. It pays no regular interest: it is sold at a discount to its face value and repays the full face value at maturity, and the difference is the investor's interest. Bills are issued with maturities of about 4, 6, 8, 13, 17, 26 and 52 weeks.
What is the difference between the bill rate and the discount rate at auction?
Treasury auctions quote a discount rate, calculated on the face value over a 360-day year. The yields on this page are bond-equivalent yields on the price paid over a 365-day year, which is how the Treasury publishes its daily yield curve, so the numbers are not directly comparable to an auction's discount rate. A specific bill bought at auction or in the market can also differ from the constant-maturity yield by a few basis points.
How do I buy Treasury bills?
Individual investors can buy new bills at auction directly from the Treasury through a TreasuryDirect account, or buy new and existing bills through a bank or broker. Bills are sold in minimum amounts of $100 at TreasuryDirect. Brokers show the price and yield they offer, which can differ slightly from the auction result. This page gives general information, not a recommendation.
Are Treasury bill rates the same as Treasury bond rates?
No. Bills mature in a year or less. Treasury notes mature in 2 to 10 years and bonds in 20 or 30 years, and both pay a coupon every six months. Their yields are on our US Treasury yields page: on 22 Oct 2026 the 10-year yield was 4.96% and the 30-year yield 5.29%.
Is interest on Treasury bills taxed?
Interest on Treasury bills is subject to federal income tax and exempt from state and local income tax. Tax treatment depends on the investor, so check the Treasury and IRS guidance or a tax adviser for a specific case.
How often is this page updated?
Once a day after the US business day. The yields are the US Treasury daily par yield curve rates, taken from our data provider, so the page shows end-of-day figures, not live quotes.
Related
Educational information, not financial advice. End-of-day data from the US Treasury via our data provider.