Latest auction October 15, 2026
Treasury bill rates today
The 52-week (1 year) Treasury bill paid 4.62% at its latest auction (September 29, 2026). The best 12-month CD we track pays 4.80% APY at EagleBank. Bill interest is free of state and local income tax, which a CD's is not.
Latest auction rate by term
| Term | Rate | Change from last auction | Auction date |
|---|---|---|---|
| 4-week bill | 4.07% | Up 0.02 pts | October 15, 2026 |
| 8-week bill | 4.13% | Up 0.07 pts | October 15, 2026 |
| 13-week (3 months) bill | 4.18% | Up 0.04 pts | October 13, 2026 |
| 17-week bill | 4.31% | Up 0.09 pts | October 14, 2026 |
| 26-week (6 months) bill | 4.35% | Up 0.04 pts | October 13, 2026 |
| 52-week (1 year) bill | 4.62% | Up 0.46 pts | September 29, 2026 |
Source: Treasury Fiscal Data, auctions query. Terms we list: 4-week, 8-week, 13-week, 17-week, 26-week, 52-week.
What the state-tax break is worth
A bank CD must pay more than a bill to leave you with the same money after tax. This table uses the 52-week bill at 4.62% and a 24% federal tax rate. It is an example, not your tax bill: pick the row closest to your state tax rate.
| Your state income tax | A CD must pay at least |
|---|---|
| None (for example Texas or Florida) | 4.62% APY |
| 3% | 4.81% APY |
| 5% | 4.94% APY |
| 9% | 5.24% APY |
Treasury bill funds
Funds that hold bills pass some of that tax break on. The share changes every year and is set by the fund company. California, Connecticut and New York give no break unless a fund holds enough government debt; check your state before you rely on it.
- SGOV (iShares 0-3 Month Treasury Bond ETF): 95.14% of its 2025 income came from U.S. government obligations. Fund company source
- BIL (SPDR Bloomberg 1-3 Month T-Bill ETF): 97.26% of its 2025 income came from U.S. government obligations. Fund company source
Compare with banks
Common questions
What is a Treasury bill?
A Treasury bill is a loan to the U.S. government that lasts one year or less. You buy it for less than its face value and get the full face value back at the end. The difference is your interest.
Is the rate on this page the same as a bank APY?
Not exactly. Treasury reports the "investment rate" of each auction, which is the yield on a bond-equivalent basis. It is close to an APY but not identical, so use it as a guide when you compare with a CD.
Is Treasury bill interest taxed by my state?
No. Interest on Treasury bills is subject to federal income tax but exempt from state and local income tax. Bank CD and savings interest is taxed by both. The table above shows what that is worth in a rate.
How do I buy a Treasury bill?
You can buy new bills at an auction on TreasuryDirect.gov or through a brokerage account. Both let you hold the bill to maturity. Your brokerage may charge a fee that TreasuryDirect does not.
General information only. Auction rates are what Treasury reported; the rate you get when you buy depends on the auction or the secondary market. Treasury bills are backed by the U.S. government, not insured by the FDIC or NCUA. Tax rates in the example are illustrative. SwitchWize is not a broker and does not give financial or tax advice.