The 91-day Treasury Bill is a short-term tenor that balances access with a little more return.
It suits investors who can set funds aside for roughly a quarter while keeping a relatively short horizon.
If you want slightly more return than the 28-day without a long lock-in, this is a common middle ground.
Faster accessHigher potential return
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Key Facts
Investment term
91 days
Reinvestments / year
~4×
Liquidity profile
High flexibility
Best for
Near-term goals (≈1 quarter)
Definition
What is the 91-Day T-Bill?
A 91-day Treasury Bill is a short-term government investment that matures in about three months. You buy below face value and receive the full amount at maturity; the difference is your return. It keeps a fairly short horizon while typically offering a bit more than the 28-day.
Suitability & Benefits
Who might consider it, and why choose it?
Have a ~3-month horizonWant modestly higher returnPrefer short lock-insQuarterly cash planning
- +Quarter-length horizon. Funds are committed for about three months, still relatively short.
- +A bit more return. Often pays more than the 28-day, depending on the auction.
- +Reasonable flexibility. Short enough to revisit your plan a few times a year.
- +Good planning fit. Aligns neatly with quarterly cash-flow planning.
Considerations
Things to consider & next steps
- –Less liquid than 28-day. Funds are committed roughly three times as long.
- –Returns still vary. Yields move with each auction and market conditions.
- –Reinvestment timing. Maturities land quarterly, so you'll re-decide each cycle.
When this may be a good fitYou can set funds aside for about a quarter, want a little more return than the shortest tenor, and still value a short commitment.
Next Step
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