Treasury Bill Returns Calculator Kenya — 91, 182 & 364-Day T-Bills
See your exact return on Kenya Treasury Bills after the 15% withholding tax. Enter the face value, discount rate, and tenor — we’ll compute purchase price, gross interest, tax deducted and net effective yield.
Waiting for the latest CBK auction rate. Results appear as soon as it loads, or choose a competitive bid to enter a rate yourself.
Check the latest CBK auction results, or compare this yield with Treasury bonds and money market funds.
How T-Bill Pricing Works
Unlike bonds, T-Bills don\u2019t pay coupons. Instead, they are issued at a discount to face value, and you receive the full face value at maturity. Your profit is the difference. The effective yield annualises this return for comparison: (Return ÷ Price) × (365 ÷ Tenor) × 100.
The Central Bank of Kenya auctions T-Bills weekly via the DhowCSD portal. Retail minimum is KES 50,000. T-Bill interest carries the same 15% withholding tax as MMFs and bank deposits, deducted at source by CBK; where T-Bills gain is the absence of a management fee, not tax treatment — see the Tax on Returns Calculator for the comparison, or the Compare Investments Calculator to see T-Bills side-by-side with MMFs, bonds and savings.
Kenya T-Bill Tenors & Typical Rates (2026)
Weekly CBK auctions. Rates move with monetary policy; current averages shown.
| Tenor | Typical Discount Rate | Example (KES 100K) | Effective Yield |
|---|---|---|---|
| 91 days | 15 – 16% | Buy KES 96,170 → receive KES 100,000 | ~16.6% |
| 182 days | 15.5 – 16.5% | Buy KES 92,600 → receive KES 100,000 | ~17.4% |
| 364 days | 15.5 – 17% | Buy KES 85,400 → receive KES 100,000 | ~17.9% |
T-Bills vs Other Kenya Products — After-Tax Comparison
T-Bills win on tax efficiency. Here’s how net yields compare.
| Product | Gross Yield | Tax | Net Yield |
|---|---|---|---|
| Treasury Bills | 14 – 17% | 15% WHT | 14 – 17% |
| Top MMF | 10 – 13% | 15% WHT | 8.5 – 11.05% |
| Treasury Bonds | 12 – 14% | 10% WHT | 10.8 – 12.6% |
| Infrastructure Bonds | 12.5 – 17% | Tax-exempt | 12.5 – 17% |
| Fixed Deposits | 6 – 10% | 15% WHT | 5.1 – 8.5% |
| Bank Savings | 3 – 5% | 15% WHT | 2.55 – 4.25% |
See your exact after-tax keep with the Tax on Returns Calculator.
Treasury Bill Returns Calculator — FAQ
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