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FX

Treasury bill calculator · Kenya

What will my Treasury bill pay?

Put in the money you have. See what each bill costs, what you get back and when, the 15% tax, and what you keep, at the rates from the Central Bank of Kenya’s latest auction. Then compare it with a money market fund and a savings account.

A bill is sold at a discount: you pay less than its face value and get the full face value back when it matures. The gap is your interest.

  • 91-day bill

    8.75% a year

    You keep, after tax

    KES 1,854

    You pay
    KES 100,000
    You get back
    KES 102,181
    Tax (15%)
    KES 327

    7.44% a year after tax · auction of 2 Nov 2026 · if bought next, back about 8 Feb 2027

  • 182-day bill

    8.85% a year

    You keep, after tax

    KES 3,751

    You pay
    KES 100,000
    You get back
    KES 104,413
    Tax (15%)
    KES 662

    7.52% a year after tax · auction of 2 Nov 2026 · if bought next, back about 10 May 2027

  • 364-day bill

    9.03% a year

    You keep, after tax

    KES 7,653

    You pay
    KES 100,000
    You get back
    KES 109,004
    Tax (15%)
    KES 1,351

    7.67% a year after tax · auction of 2 Nov 2026 · if bought next, back about 8 Nov 2027

Next auction: bids close 5 Nov 2026 at 2 p.m., bills issued 9 Nov 2026. Its rate will differ a little from the last one.

Over a year, the same KES 100,000 earns after tax

  • Money market fund (Etica Money Market Fund (KES))KES 8,587
  • 364-day billKES 7,653
  • 182-day bill, bought again 2 timesKES 7,643
  • 91-day bill, bought again 4 timesKES 7,626
  • Bank savings account, averageKES 2,992

Bills bought again assume today’s rate holds, which it will not exactly. Money market fund (Etica Money Market Fund (KES)): 10.13% before tax, read 2026-11-04; Bank savings account, average: 3.53% before tax, CBK, 2026-09.

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Before you buy

Good to know

  • Your money is locked until the bill matures. Keep money you may need soon somewhere you can withdraw it.
  • A non-competitive bid gets the auction’s average rate; a competitive bid names your own rate and may be refused.
  • Bills are bought through the CBK’s DhowCSD, on the web or the app, with a bank account in your name.

Also see

More on Kenya’s bills

Rates are the weighted averages of accepted bids at the CBK’s latest auction, with its published price per KES 100. CBK results. Information, not advice.

Quick answers

Questions people ask

How much will I earn from a Treasury bill in Kenya?
At the CBK auction of 2 November 2026, KES 100,000 put into the 364-day bill buys about KES 109,004 of face value. After a year you get that back: KES 9,004 of interest, of which you keep about KES 7,653 after 15% withholding tax. Rates change at every weekly auction.
How is a Treasury bill taxed in Kenya?
The interest, the gap between what you pay and the face value you get back, is subject to 15% withholding tax, deducted by the CBK. The calculator shows the tax and what you keep.
What is the minimum for a Treasury bill?
KES 50,000 of face value per bill, bought through the CBK's DhowCSD platform or app with a bank account. Bids close at 2 p.m. on Thursday for bills issued the following Monday.
Which is better, a Treasury bill or a money market fund?
A bill's rate is fixed once you buy it but the money is locked until it matures; a money market fund can be withdrawn in days but its yield changes daily. The calculator puts both side by side for your amount. Information, not advice.
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