What happens at maturity?
Treasury Bills are purchased below face value and repaid at full face value when they mature. The difference between what you paid and what you receive is your return.
Example: a 100,000 face-value, 91-day bill at 12% (invest-today ETB 97,095.13 + a 0.1% fee of ETB 97.10 = ETB 97,192.23 paid), repaid at ETB 100,000.
How repayment works
At maturity, repayment is processed through the National Bank of Ethiopia or your intermediary, depending on the applicable NBE rules. The maturity amount is credited to your account through that process.
Your intermediary should confirm:
What you can do next
Once your Treasury Bill matures, you may choose to:
Move your proceeds out of the account.
Leave them in your brokerage account.
Use the proceeds in another auction.
Review the market before deciding.
Reinvestment
Reinvesting always means placing a new bid in an available auction with your maturity proceeds; there is no automatic rollover for individual investors. Before reinvesting, it's useful to check:
Note: funds left in your brokerage account do not earn any interest, so reinvesting or withdrawing keeps your money working.
Important things to know
Treasury Bills don't usually pay regular interest before maturity — your return is realized when the full face value is repaid.
Make sure you know when your Treasury Bill matures, especially if you're planning around cash needs.
You don't have to reinvest immediately — you can compare market conditions before deciding.
The exact repayment and account-credit process may vary by intermediary.