# Excel TBILLYIELD Function: Syntax, Examples & Tips - URL: https://betteranalyst.com/excel/tbillyield-function - Author: Better Analyst Formula Bot is now Better Analyst—same account, more powerful analysis.Formula Bot is now Better Analyst—same account and workflows, with more powerful analysis, dashboards, and automation. [Learn what changed](https://betteranalyst.com/formula-bot-is-now-better-analyst) The TBILLYIELD function calculates the yield of a Treasury bill using settlement date, maturity date, and discount rate inputs. ```excel =TBILLYIELD(settlement, maturity, discount) ``` Generate FormulaExplain Formula One free generation or explanation per browser, shared across Excel and Google Sheets. Account usage limits apply afterward. Describe the TBILLYIELD you need in plain EnglishGenerate Formula Need more than a single TBILLYIELD formula? Try our free [AI for Excel](https://betteranalyst.com/excel-ai) — it reads your entire spreadsheet, answers questions in plain English, and builds charts and analysis in the same chat. ## Parameters **`settlement`**:\ The date when the investment is purchased or the security is settled. This must be a valid Excel date. **`maturity`**:\ The date when the investment matures or the security expires. This must also be a valid Excel date and must be later than the settlement date. **`discount`**:\ The discount rate of the security expressed as a decimal. This represents the difference between the face value and the purchase price of the security. ## What is a TBILLYIELD Formula in Excel? The *TBILLYIELD* function in Excel is a specialized tool used to calculate the yield of a Treasury bill (T-bill) based on its face value, purchase price, and the number of days until maturity. This function is particularly useful for investors and financial analysts who need to evaluate the return on investment for T-bills. In simpler terms, the TBILLYIELD function helps you determine the yield percentage of a T-bill, allowing you to assess its profitability. ## A Practical Example Imagine you are analyzing a T-bill investment, and you have the following data in an Excel spreadsheet: ### T-Bill Data Table: | Face Value | Purchase Price | Days to Maturity | | - | - | - | | 10000 | 9800 | 30 | | 5000 | 4900 | 60 | | 15000 | 14500 | 90 | | 20000 | 19500 | 120 | | 25000 | 24000 | 180 | You want to find the yield for the T-bill with a face value of $10,000, a purchase price of $9,800, and 30 days to maturity. ## TBILLYIELD Formula To calculate the yield for this T-bill, you would use the TBILLYIELD formula as follows: ```excel =TBILLYIELD(B2, A2, C2) ``` ### Breakdown of the Formula: - **B2**: This is the purchase price of the T-bill. - **A2**: This is the face value of the T-bill. - **C2**: This is the number of days until maturity. ## Result of the Formula When you apply the formula, it calculates the yield for the specified T-bill. The output would be: | T-Bill Yield | | - | | 0.0667 | Here, the yield is calculated based on the provided values, indicating the percentage return on the investment. ## Why Use TBILLYIELD? The TBILLYIELD function is particularly useful for investors who want to evaluate the profitability of T-bills quickly. It allows you to make informed investment decisions by providing a clear picture of the expected returns. ## Key Takeaways: - **TBILLYIELD**: Calculates the yield of a Treasury bill based on face value, purchase price, and days to maturity. - **Investment Analysis**: Helps investors assess the profitability of T-bill investments. - **Common Use Cases**: Ideal for financial analysts, investors, and anyone involved in evaluating government securities. Understanding how to use the TBILLYIELD function can significantly enhance your investment analysis capabilities in Excel, enabling you to make data-driven decisions regarding T-bill investments. Happy calculating! ## Example use case You have a table where Column A contains the face value of various Treasury bills and Column B contains their purchase prices. You can use the TBILLYIELD function to calculate the annualized yield of each Treasury bill based on its face value and purchase price. This allows for efficient assessment of investment returns on short-term government securities, helping investors make informed decisions about their fixed-income portfolios without needing to perform complex yield calculations manually. **Beyond the TBILLYIELD function:** Better Analyst is a full [Excel AI](https://betteranalyst.com/excel-ai) that goes well past individual formulas. Upload any spreadsheet and ask questions in plain English — you'll get formulas, data analysis, and charts back in seconds. It's a free [AI Excel assistant](https://betteranalyst.com/excel-ai) that works with any .xlsx, .xls, or .csv file — no plugins, no Microsoft 365 required. Don't have a spreadsheet yet? 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[Create Free Account](https://betteranalyst.com/signup)[Try Formula Generator](https://betteranalyst.com/excel-ai) ## Excel how-to guides - [How To Make A Pie Chart In Excel](https://betteranalyst.com/excel/how-to-make-a-pie-chart-in-excel) - [How To Make A Table In Excel](https://betteranalyst.com/excel/how-to-make-a-table-in-excel) - [How To Merge Cells In Excel](https://betteranalyst.com/excel/how-to-merge-cells-in-excel) - [How To Multiply In Excel](https://betteranalyst.com/excel/how-to-multiply-in-excel) - [How To Password Protect An Excel File](https://betteranalyst.com/excel/how-to-password-protect-an-excel-file) - [How To Remove Blank Rows In Excel](https://betteranalyst.com/excel/how-to-remove-blank-rows-in-excel) - [How To Remove Duplicates In Excel](https://betteranalyst.com/excel/how-to-remove-duplicates-in-excel) - [How To Separate Names In Excel](https://betteranalyst.com/excel/how-to-separate-names-in-excel) ## Explore all Excel formulas Browse our complete library of Excel formula guides Compare your options ## Decide with evidence, not a sales pitch. 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