T-Bill Calculator
Price, yield and return on a treasury bill.
I know the
Check the minimum amount and multiples on your platform.
Your result
—
Enter your numbers to see the result.
This t-bill calculator works out the return on Government of India treasury bills. T-bills are sold at a discount and repaid at face value, so the gain is the difference. Choose 91, 182 or 364 days, enter the cut-off price or the yield, and your investment. It shows the yield, what you pay, what you receive and your gain.
What is a T-Bill Calculator?
Treasury bills (T-bills) are short-term borrowings of the Government of India, issued for 91, 182 and 364 days. They pay no coupon; instead they are sold below face value and repaid at full face value on maturity. The difference is your return.
RBI auctions T-bills every week, and individuals can bid through RBI Retail Direct or their bank or broker as non-competitive bidders, receiving the auction’s cut-off price. This t-bill calculator converts between price and yield and shows your gain.
How does the T-Bill Calculator work?
RBI quotes T-bill yields with a simple discount-to-yield formula: the gain divided by the price, scaled to a 365-day year. The calculator applies that formula, or reverses it to find the price from a yield.
It also shows the compounded yearly yield, which is slightly higher and useful for comparing with FD rates.
How to use the T-Bill Calculator step by step
- Choose the tenure.
- Choose whether you know the price or the yield.
- Enter the cut-off price or yield from RBI’s auction result.
- Enter the face value you want.
- Read what you pay, receive and gain.
- Compare the yield with FDs and liquid funds.
T-Bill Calculator example with real numbers
In the RBI auction of 27 August 2026, the 91-day T-bill cut-off price was ₹98.7046. You want ₹1 lakh face value.
| Example input | Value |
|---|---|
| Tenure | 91 days |
| I know the | Price per ₹100 |
| Cut-off price per ₹100 | 98.7 |
| Face value you want | ₹1,00,000 |
| Example output | Value |
|---|---|
| Annualised yield | 5.2640% |
| Price per ₹100 | 98.7046 |
| You pay | ₹98,704.60 |
| You receive at maturity | ₹1,00,000.00 |
| Gain (taxed as income) | ₹1,295.40 |
| Effective yearly (compounded) | 5.37% |
You pay ₹98,704.60 and receive ₹1,00,000 after 91 days. The t-bill calculator shows an annualised yield of 5.2640%, matching RBI’s published 5.2640%.
Key features of this T-Bill Calculator
- 91, 182 and 364-day bills
- Price to yield and yield to price
- RBI’s yield formula
- Compounded yearly yield
- Gain and tax note
Who should use the T-Bill Calculator?
Who is this T-Bill Calculator for?
- Savers looking for safe short-term options
- RBI Retail Direct users
- Corporate treasurers and students
- People comparing with FDs and liquid funds
Practical use cases
- Checking the return on ₹1 lakh of 91-day T-bills
- Converting an auction price into a yield
- Comparing T-bills with a 3-month FD
- Planning short-term parking of money
Key benefits
- Accurate: RBI’s formula.
- Two-way: price or yield.
- Safe benchmark: sovereign returns.
- Simple: few inputs.
Tips for better results
- Check RBI’s weekly auction results for the latest cut-off.
- Non-competitive bids get the cut-off price without bidding.
- The gain is taxable at your slab; there is no TDS.
- Compare with liquid funds after tax.
Common mistakes to avoid
- Comparing the simple yield with an FD’s compounded rate directly.
- Forgetting tax on the gain.
- Assuming you can easily sell before maturity; secondary trading for retail is limited.
- Entering the price per ₹100 as a rupee amount.
Limitations of this T-Bill Calculator
- It uses face value and ignores platform charges.
- Auction yields change weekly.
- Secondary market prices before maturity are not modelled.
T-Bill Calculator vs other ways to calculate
| Option | Safety | Typical term | Tax |
|---|---|---|---|
| T-bill | Sovereign | 91–364 days | Slab rate |
| Bank FD | DICGC up to ₹5 lakh | 7 days – 10 years | Slab rate |
| Liquid fund | Low risk | Any | Slab rate |
| Savings account | DICGC up to ₹5 lakh | Any | Slab rate (with deduction limits) |
For bonds with coupons, use the bond yield calculator. For bank deposits, see the FD calculator.
Privacy and data handling
This T-Bill Calculator runs entirely in your browser. The numbers you type are not sent to Qorico or stored on any server, and nothing is saved after you close the page. The Copy and Download buttons create the result on your own device. If the page has analytics turned on, it may count that a calculation happened, but it does not record the values you entered.
T-Bill Calculator FAQs
How much will I earn on ₹1 lakh of T-bills?
At a 91-day price of ₹98.7046, you pay about ₹98,705 and receive ₹1,00,000, a gain of about ₹1,295.
How is T-bill yield calculated?
(100 − price) ÷ price × 365 ÷ days.
How do I buy T-bills in India?
Through RBI Retail Direct, or via banks and brokers, by placing a non-competitive bid in the weekly auction.
Is T-bill income taxable?
Yes. The discount earned is taxed at your slab rate.
Are T-bills safe?
They are backed by the Government of India, so default risk is negligible.
What is the minimum T-bill investment?
Minimum amounts and multiples are set for each auction and platform; check RBI Retail Direct or your bank before bidding.
Related tools
Sources and references
We checked the method and the current figures used in this T-Bill Calculator against these official and primary sources:
- RBI Retail Direct
- RBI: Auction results press releases
- CCIL: Clearing Corporation of India
- Reserve Bank of India
Written and reviewed by the Qorico Team
