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Turn Your Income Into Wealth.
Stop guessing with your money. Know it. Compare it. Grow it. Preserve it.
Serrari Markets provides independent financial data and educational tools. We are not fund managers and do not hold deposits. All data is provided 'as is' without warranty. Past performance does not guarantee future results. Rates and yields shown may be delayed — always verify with the fund manager. This is for informational purposes only not investment, tax, or legal advice.
© 2026 Serrari Group
Kenya T-Bill rates updated weekly from CBK auction results. Compare 91-day, 182-day and 364-day Treasury Bill yields — tax-exempt for individual investors, minimum KES 100,000 via DhowCSD.
Updated weekly · 3 tenors
T-Bill rates have been declining since mid-2024, tracking the CBK policy rate cuts (from 13% to 8.75%). The spread between 91-day and 364-day T-Bills has narrowed from ~0.55pp to ~0.92pp, meaning longer tenors still reward patience but the premium is compressing.
12-month rolling yield history for 91-day, 182-day, and 364-day Treasury Bills, showing the rate decline following CBK policy cuts.
| Tenor↕ | Auction Date↕ | Issue # | Avg Rate↕ | Offered↕ | Received↕ | Subscription↕ |
|---|---|---|---|---|---|---|
| 91-Day | 2026-07-02 | -- | 8.83% | -- | -- | -- |
| 182-Day | 2026-07-02 | -- | 8.96% | -- | -- | -- |
| 364-Day | 2026-07-02 | -- | 9.00% | -- | -- | -- |
Select a tenor and enter your investment amount
T-Bills don't pay coupons like bonds. Instead, you buy them below face value. If the 91-day rate is 8.39%, you pay ~KSh 97,909 for a KSh 100,000 bill. At maturity (91 days later), you get the full KSh 100,000 back.
T-Bills are direct obligations of the Government of Kenya. They carry the same sovereign risk as treasury bonds — the safest domestic investment. No default has ever occurred on Kenyan government securities.
Interest on T-Bills is exempt from withholding tax for individual investors (as of April 2026). This makes the effective yield significantly higher than bank deposits or MMFs where 15% WHT applies. An 8.39% T-Bill yield equals ~9.9% pre-tax elsewhere.
91-day and 182-day T-Bills auction every Wednesday. 364-day T-Bills auction monthly. Results are published same-day by CBK. Non-competitive bids (recommended for retail investors) guarantee allocation at the market rate.
Download DhowCSD, open a CDS account (free, takes 1-3 days), and bid from your phone. Minimum investment: KSh 100,000 in multiples of KSh 50,000. Pay via M-Pesa Paybill 200222.
Many investors "ladder" T-Bills: invest in 91-day bills every month so one matures every month. This gives you regular liquidity while maintaining exposure. You can auto-rollover via DhowCSD.
Search "DhowCSD" on Google Play or App Store and install it. The app is free from the Central Bank of Kenya.
Upload ID photo and selfie, add KRA PIN and bank details, set M-Pesa number. CDS is your government securities wallet.
Weekly auctions for 91-day and 182-day bills. Monthly for 364-day. Choose an offer and tap "Invest".
Minimum KSh 100,000, multiples of 50K. Select non-competitive bid (recommended). Pay via M-Pesa Paybill 200222.
What you need: National ID or passport, M-Pesa registered phone, KRA PIN, and a DhowCSD account (free to open at any bank).
Tip: Start with the 91-day T-Bill — shortest lock-in, lowest risk, and you can reinvest every 3 months as you learn.
Turn your income into wealth — Treasury Bonds pay 10-18% with semi-annual coupons. Same DhowCSD app, same sovereign safety.