Excel like a finance pro.
← The libraryPractice · 2 questions →
Financial function
TBILLYIELD
Returns the yield for a Treasury bill.
Rarely usedDifficulty 1500 · AdvancedUsage rank #416 of 520
When to use it
The yield of a Treasury bill given its price.
The shape of it
- Syntax
=TBILLYIELD(settlement, maturity, pr)
Worked examples
From a price
=TBILLYIELD(DATE(2008,3,31),DATE(2008,6,1),98.45) → 9.14%
Reverses the TBILLPRICE example.
91-day bill
=TBILLYIELD(DATE(2025,1,1),DATE(2025,4,2),98.7361) → 5.06%
A 91-day bill bought at 98.74.
Six-month bill
=TBILLYIELD(DATE(2025,1,1),DATE(2025,7,1),97.4861) → 5.13%
Six months.
Worth knowing
- Yield = (100 - price)/price × 360/days.
- Slightly above the discount rate because it is on price, not face.
- TBILLEQ converts to a bond basis.
Where it goes wrong
- #NUM! for a non-positive price or maturity over a year out.
- Text dates return #VALUE!.
Related
Learn the moves here — or let Wauvel run them on your numbers.
Meet your AI CFO →One CFO-grade Excel tip a week
A short, practical email for finance operators — functions, shortcuts, and the moves that save an afternoon. Free, unsubscribe anytime.