What you provide
What you provide
- Purchase price: Amount paid today for the discount security.
- Face value at maturity: Amount expected at maturity before taxes or default effects.
- Days to maturity: Calendar days from settlement to maturity.
FIXED INCOME / DISCOUNT SECURITY
Treasury Bill Yield Calculator
Annualize a Treasury bill discount using both investment-yield and bank-discount conventions while showing holding-period return and maturity gain.
- 01 Calculated in this tab
- 02 Values stay in this browser tab
- 03 Use boundary
Use boundary
Calculation path
Investment yield annualizes gain over purchase price on 365 days, while bank discount yield annualizes discount over face value on 360 days.
Calculation path
Investment yield = discount / purchase price x 365 / days; bank discount yield = discount / face value x 360 / days.
What you receive
What you receive
- Annualized investment yield
- Bank discount yield
- Holding-period return and currency gain
Use boundary
Choose the maximum decimal places shown. This does not increase source accuracy.
Auction, settlement, tax-equivalent, bond-equivalent, leap-year, and jurisdiction-specific quotation conventions may differ.
This calculator is an educational scenario model, not investment, tax, accounting, or valuation advice. Confirm definitions, timing, and decisions with source documents and a qualified professional.