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Excel

TBILLYIELD function in Excel

Returns the yield for a Treasury bill

=TBILLYIELD(settlement, maturity, pr)

TBILLYIELD syntax and parameters

Three arguments, three required.

  • settlementanyRequired

    The Treasury bill's settlement date. The security settlement date is the date after the issue date when the Treasury bill is traded to the buyer.

  • maturityanyRequired

    The Treasury bill's maturity date. The maturity date is the date when the Treasury bill expires.

  • prnumberRequired

    The Treasury bill's price per $100 face value.

TBILLYIELD examples

Formulas you'll actually reuse.

  1. The money-market yield of a bill bought at 98.8625:

    =TBILLYIELD(DATE(2026, 3, 15), DATE(2026, 6, 14), 98.8625)

    Result0.0455

  2. The yield pickup between two bills quoted in rows 2 and 3:

    =TBILLYIELD(B2, C2, D2) - TBILLYIELD(B3, C3, D3)

TBILLYIELD in Google Sheets

Same name — your formula ports as-is.

Try TBILLYIELD in the playground

Edit the example — nothing to install.

Preloaded with the TBILLYIELD formula from Example 1 — change anything and watch it respond.

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Related functions

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