Current Treasury Bill rates in Ghana for 2019

Current Treasury Bill Rate In Ghana (February 2023 Update) By Bank Of Ghana

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Are you interested in treasury bills in February 2023? In today’s topic, I will walk you through why you should have one and the latest treasury bill rate in Ghana.

Treasury bills are the most easily traded securities of the money market. The main reason why many people use it is due to its security and simplicity.

T-Bills are, in essence, used by the government to raise funds from the public.

Here, we refer to the Government of Ghana treasury bills, but many other governments issue equivalent securities.

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What are the main types of treasury bills in Ghana?

As it has been stated earlier, treasury bills are short term. The various treasury bills listed on the Ghana money market are listed below:

  • 91-Day 0r 3 month Treasury Bill.
  • 182-Day or a 6 month Treasury Bill.
  • 365-Day or 1 year Treasury Bill.

For you to know how much interest can you earn from a treasury bill, you need to know the interest rate.

You need to take note of these forms of investment since the rate of interest on the principal amount may not be huge. However, the monthly interest or fixed rate set by BoG should be enough for some investors.

Don’t always yearn for higher interest rates since some of these low interest at a fixed rate on the principal amount can earn you a decent amount of money.

The most important thing to look out for as an investor is the safety of your investment.

The chart below shows the current treasury bill rates as published by the Bank of Ghana (BoG) up till this week, February 2023:

Current Bank Of Ghana Treasury Bill Interest Rates For May 2022

Date91 Days Treasury182 Day Interest Rate1 Year Interest Rate
16th May 202218.2262%19.2623%21.7275%
9th May 202217.8800%18.8059%20.6521%
2nd May 202217.4085%18.5268%20.1735%
25th April 202216.7814%17.4243%19.6735%
18th April 202216.3287%16.3155%18.8514%
11th April 202215.7407%15.9264%18.2736%
4th April 202214.8456%15.4597%17.6250%
28th March 202214.1435%14.5125%17.1051%
21st March 202213.4152%13.6095%16.9621%
14th March 202213.2539%13.5524%16.9563%
7th March 202213.1418%13.3679%16.9556%
28th February 202213.3085%13.0269%16.9567%
21st February 202212.9145%13.2945%16.9607%
14th February 202212.6852%13.2551%16.9873%
7th February 202212.6646%13.2348%16.7611%
31st January 202212.6335%13.2270%16.7446%
24th January 202212.5461%13.2121%16.7033%
17th January 202212.5213%13.2092%16.7104%
10th January 202212.5249%13.1980%16.3611%
3rd January 202212.5256%13.2114%16.6438%
27th December 202112.5121%13.1858%16.2803%
20th December 202112.5068%13.2040%16.4531%
13th November 202112.4718%13.1940%16.3611%
13th December 202112.4718%13.1940%16.3611%
6th December 202112.4784%13.1656%19.7500%
29th November 202112.5017%13.1685%16.3019%
22nd November 202112.4962%13.1872%16.4612%
15th November 202112.4836%13.2163%16.2859%
8th November 202112.4827%13.1631%16.2862%
1st November 202112.4464%13.1184%16.2407%
25th October 202112.4595%13.1569%16.2337%
18th October 202112.4469%13.1437%16.1873%
11th October 202112.4743%13.1518%16.1913%
4th October 202112.4732%13.1769%16.2131%
27th September 202112.4925%13.2155
%		16.2853%
20th September 202112.4946%13.1734%16.1358%
13th September 202112.4510%13.2120%16.4124%
6th September 202112.4499%13.1952%16.0995%
30th August 202112.4622%13.2239%16.2156%
23rd August 202112.4232%13.2075%16.0143%
16th August 202112.4701%13.2555%16.1134%
9th August 202112.5215%13.3064%16.2880%
2nd August 202112.5484%13.3708%16.1662%
26th July 202112.5625%13.3635%16.3983%
19th July 202112.5692%13.3591%16.1691%
12th July 202112.5637%13.3676%16.3202%
5th July 202112.5891%13.4016%16.2992%
28th June 202112.6247%13.3797%16.3329%
21st June 202112.6269%13.3897%16.3574%
14th June 202112.6395%13.4203%16.3374%
7th June 202112.7061%13.4299%16.4071%
31st May 202112.7799%13.5055%16.4871%
24th May 202112.7566%13.5402%16.5045%
17th May 202112.7880%13.5522%16.4194%
10th May 202112.7898%13.5707%16.6045%
3rd May 202112.8367%13.5299%16.4599%
26th April 202112.7814%13.5753%16.5257%
19th April 202112.7949%13.5348%16.6014%
28th September 202014.0357%14.1478%16.9045%
21st September 202014.0060%14.1216%16.9866%
14th September 202014.0219%14.0878%16.8847%
7th September 202014.0172%14.1058%16.9126%
31st August 202014.0599%14.0771%16.7849%
24th August 202013.98712%14.1087%16.8790%
17th August 202014.0044%14.1117%16.8344%
10th August 202013.9866%14.0780%16.9433%
3rd August 202013.9933%14.0520%16.8096%
27th July 202013.9685%14.0531%16.8193%
20th July 202013.8705%14.0579%16.9463%
13th July 202013.9889%14.0204%16.9160%
6th July 202013.9727%14.0878%16.9281%
29th June 202013.9526%14.0150%16.8938%
22nd June 202014.0089%14.0551%16.9461%
15th June 202013.9296%14.0361%16.8451%
8th June 202013.9517%14.0564%16.6703%
1st June 202014.0197%14.0740%16.8806%
25th May 202014.0619%14.3039%16.9035%
18th May 202013.8698%14.0039%16.7038%
11th May 202013.9503%14.0189%16.7508%
4th May 202013.9236%14.0066%16.6873%
27th April 202014.0251%15.0317%16.7395%
20th April 202014.6251%15.0748%17.6017%
13th April 202014.4143%14.8746%17.5076%
6th April 202014.4386%14.9501%17.5163%
30th March 202014.6383%15.1520%17.6471%
23rd March 202014.7539%15.1809%17.8048%
16th March 202014.7586%15.1772%17.8028%
9th March 202014.7502%15.1899%17.7874%
2nd March 202014.7324%15.1716%17.7108%
24th February 202014.7538%15.1740%17.8057%
17th February 202014.7107%15.1863%17.8094%
10th February 202014.7010%15.1841%17.8134%
3rd February 202014.6947%15.1444%17.8096%
27th January 202014.6898%15.1477%17.8813%
20th January 202014.7022%15.1689%17.8349%
13th January 202014.6935%15.1727%17.8349%
6th January 202014.6698%15.1715%17.8349%
23rd December 201914.6961%15.1573%17.8998%
16th December 201914.6969%15.1490%17.8964%
9th December 201914.6884%15.1487%17.8296%
2nd December 201914.6836%15.1425%17.8298%
25th November 201914.6984%15.1376%17.9189%
18th November 201914.6875%15.1360%17.9091%
11th November 201914.6879%15.1294%17.9197%
4th November 201914.6872%15.1343%17.9050%
28th October 201914.6850%15.1398%17.9051%
21st October 201914.6907%15.1185%17.9040%
14th October 201914.6916%15.1372%17.9119%
7th October 201914.6832%15.1462%17.9108%
30th September 201914.6899%15.1455%17.9081%
23rd September 201914.6839%15.1425%17.9106%
16th September 201914.6967%15.1357%17.9098%
9th September 201914.6794%15.1232%17.9098%
2nd September 201914.6777%15.1379%17.8503%
26th August 201914.6811%15.1373%17.8603%
19th August 201914.7170%15.1447%17.9203%
12th August 201914.7325%15.1678%17.9066%
5th August 201914.7325%15.1698%17.8968%
29th July 201914.7231%15.1708%17.8954%
22nd July 201914.7261%15.1744%17.8644%
15th July 201914.7296%15.1724%17.8784%
8th July 201914.7205%15.1721%17.9052%
1st July 201914.7438%15.1999%17.9162%
24th June 201914.7714%15.2264%19.8000%
17th June 201914.7567%15.2436%17.9228%

Note: You can use online treasury bill interest rate calculators to calculate your actual earnings based on the amount invested and the maturity date.

Furthermore, there are other options available if you want to buy the treasury for longer years.

The Ghana treasury bills are short-term securities with maturities of one year or less issued by the Bank of Ghana (BOG).

You Must Know This

Treasury securities: These are also bonds that are issued, and it is those with the shortest maturity date that are called treasury bills. Those bonds that mature from two (2) to ten (10) years are called treasury notes. Note that these bonds have no default risk since they are backed by the government.

Related Reading: The Ultimate Guide To Your GoGPayslip.

Treasury bills are sold at a discount. The Government of Ghana uses this method to borrow money from individuals to embark on developmental projects.

In practice, the difference between the purchase price and the amount repaid at maturity is the interest paid to investors.

What Is The Difference Between Fixed Deposit And Treasury Bills?

Most people have been wondering about the difference between fixed deposit and treasury bills in Ghana.

I will explain the differences between the two terms and why treasury bill rates in Ghana is necessary.

As I have already stated from the beginning, the treasury bill is an investment sold by the Bank Of Ghana for a specified period.

The Bank of Ghana determines the amount of treasury bills sold. And for that matter, it is only BoG that can directly sell treasury bills in Ghana.

However, other banks like Ecobank, GTBank, Stanbic bank, Cal Bank, Fidelity Bank, Zenith Bank, Data Bank, Access Bank, etc. can buy T-bills and resell on the market.

On the other hand, a fixed deposit is another form of investment issued by a bank to its depositors for a pre-determined period of time.

The central bank does not control this form of investment. The amount of money invested and the depositor determines the duration of the investment while the bank determines the interest rate.

For a fixed deposit, both the principal and interest are paid at maturity, but the depositor can decide to withdraw his money before the maturity date.

You Must Know This

Maturity date: This is one of the most common terms in the financial sector. It simply means the date that your principal amount of the bond, note, T-bill, or other debt instrument is due to be paid. This is the final payment date.

The table below summarizes the answer to the question: What is the difference between Treasury bill and Fixed deposit?

Deference Between Fixed Deposit And Treasury Bill

Treasury BillFixed Deposit
Controlled by the Bank Of GhanaControlled by the Individual banks in Ghana
Tax-freeSubject to Tax
Accepted by all banks as collateralNot accepted by all banks as collateral
Interest rates are usually fixed for allInterest rates vary from bank to bank
Investments are safer and securedSecurity of investments largely depends on degree of solvency of the bank
Investmets cannot be rolled overCan be rolled over at maturity
Amount invested is limitedNo limit to amount invested
Interest can be claimed up-frontInterests are only paid at maturity

With that out of the way, you need to know the current treasury bill interest rates in Ghana.

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How To Calculate The Current Treasury Bill Interest Rate In Ghana (January – February 2023 Tips)

To calculate how much interest you earn on a treasury bill, you have to take the maturity days and the interest rate into consideration.

Since the interest rate is quoted in percentage, divide the rate by 100.

The next thing to do is to multiply the result by the amount you invested.

That will be the interest on the treasury bill for the whole year.

For a 91-day treasury bill investment, divide the interest you had for the year by four (4).

Thus, 3 months x 4 = 1 year.

Similarly, for a 182-day T-bill, divide by two (2).

So you see? How to calculate the treasury bill interest rate is not that complicated.

How Much Interest Can You Earn From A Treasury Bill In Ghana?

To know how much interest you will earn from a treasury bill investment, you need to go through an example of the interest rate calculation below:

Example of treasury bill interest rate calculation.

Let’s use the interest rate for May 2022, which is 13.9866% for 91 days.

Assuming you are investing GHS3000 in a T-bill at the prevailing rate of return of 13.9933% for 91 days.

The first step is to divide the rate by 100 percent.

That is 13.9866%/100% = 0.139866.

The next step is to multiply the result by the amount we invested. Thus 0.139866 x GHS3000 = GHS419.598.

Hence, the interest on the treasury for the whole year is 419.598 Ghana cedis.

That is how much you earn from the treasury bill for the year.

For the 91-day investment, the interest you earn will be GHS419.598/4 = GHS104.8995.

Also, the interest you earn for a 182-day investment is GHS419.799/2 = GHS209.7990.

You can use the same calculations for all other months and not just the current treasury bill rates in Ghana. Also, you can use the trend in the table to predict the Bank of Ghana Treasury bill rate for the next month, January 2022.

You Must Know This

Interest payments: The amount that is determined by the interest rate, and it is always based on the principal amount and the duration of the investment.

Percentage yield: This is the ratio of the experimental yield to the theoretical yield and the product multiplied by 100%. Per this definition, if the theoretical yield is the same as the experimental yield, then the percentage yield is 100%.

Making deductions from the information above, you can see that it is prudent to always know the current treasury bill rate in Ghana by the Bank of Ghana (BoG).

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How MTN Treasury Bill Rates Work In Ghana (Month Of February 2023

Are you aware you can buy treasury bills on MTN in Ghana using your MTN MoMo account?

Oh yes, that is very possible. You can purchase treasury bills through MTN mobile money in Ghana.

This is one of a kind, and it makes buying treasury bills in Ghana very straightforward. The service is currently available to Ecobank customers as TBills4All.

That is how the MTN treasury bill works in Ghana.

This means those of you who have accounts at banks like Ghana Commercial Bank (GCB), ADB Bank, UBA Bank, UMB Bank, GTBank, NIB Bank, etc. must wait patiently as MTN extends this service to other banks in Ghana.

That notwithstanding, you can always keep trying the MTN treasury bill code to find out if the service is available to your bank.

If it is not available, this message will pop-up:

Welcome to Ecobank TBill4All. Service will be available soon.

But before you jump unto it, you must check the MTN treasury bill rate in order to know what you stand to gain as compared to that of the Bank of Ghana.

With that said, you need to compare the current treasury bill rate in Ghana as published by the Bank of Ghana with that of MTN.

Here is how to buy treasury bills on MTN using the Ecobank TBill4All.

Another essential article you must read: How To Buy ECG Prepaid Credit With Mobile Money.

Ecobank Treasury Bill For All (December 2022 Update)

The Ecobank TBILL4ALL is a decent mobile money investment platform that enables Ghanaians to buy and manage the treasury bills issued by the Government of Ghana.

This means that if you have an Ecobank account, you can purchase treasury bills easily using the MTN mobile money system.

Note that with the TBILL4ALL, you don’t need any bank account before buying your T-Bills.

Follow these steps to register for the Ecobank TBILL4ALL:

  1. Enter this code *770# on your mobile phone to signup.
  2. Follow the on-screen prompt and provide the necessary details.
  3. Select your username and password.
  4. Sign in after you have successfully registered and bought treasury bills.

Your mobile money wallet will be credited at maturity, and you may also choose to reinvest the matured sum on the same Ecobank TBILL4ALL platform.

It is interesting to know that the Ecobank TBILL4All is in line with the current treasury bill rate in Ghana.

For you to know your bill has been purchased, a text message will be sent to your phone. This is an indication that the transaction is successful.

The interest calculator allows you to have a fair idea of your return on investment at maturity.

Moreover, the rediscount feature allows you to terminate your investment before maturity.

Remember, the minimum amount required to buy a treasury bill on this platform is GHS5.

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The Objectives Of The Current Treasury Bill Rates In Ghana By BoG

The aim of treasury bills is to obtain short-term financing at the lowest possible cost.

Due to the high liquidity of the letters and the low risk associated with them, the interest that the state must pay to use this method of financing is not high.

The country or government that issues public debt with treasury bills seek to obtain funds from the markets by committing to their return together with previously established interests.

Due to the nature of these financial assets, it is typical for the interest receivable on an annual basis to be normally fixed.

In addition, the amount and the date of collection will be previously specified at the beginning.

That is why it is very important to know the current treasury bill rates in Ghana.

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Advantages Of Knowing The Current Treasury Bill Rates In Ghana

This type of public financial asset has a substantially lower level of risk than others from the private sector. That is the reason why the Treasury bills have lower profitability levels.

They are considered the financial assets with the most moderate risk that exists in the market.

The Treasury bill (T-Bill) is the main instrument that a country has to obtain financing in the short term. They do not usually offer annual coupons because of their short duration.

That is, as we have said, it is less than 12 months. The most common is that the letters have terms of 3, 6, and months.

In summary, the importance of treasury bills are as follows:

  1. They tend to have a lower risk. They usually have lower profits depending on the treasury bill rate in Ghana.
  2. For treasury bills, the interest is higher as compared to a bank savings account.
  3. Its maturity is short-term.
  4. You can use your T-Bills as collateral.
  5. You can decide to reinvest both your principal and interest or choose to withdraw your interest but roll over your principal.

Treasury bills are issued at a discount.

At the end of the transaction, the difference between the purchase price and the value of the bill is the interest you earn.

So you must know the current treasury bill rate in Ghana.

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Why do investors invest even when the profitability of the treasury bill rates in Ghana is negative?

The reason why there are still investors willing to invest in treasury bills is that they take into account the type of inflation at a specific time to calculate whether or not they can get profit for their money with the treasury bills.

If the inflation is below the interest rate at which the treasury bills are issued, even if it is negative, the profitability of the treasury bills will continue to be positive.

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Who Can Buy Treasury Bills In Ghana?

Anyone can buy treasury bills in Ghana. The business is open to all Ghanaians as well as foreigners, either residents of Ghana or living abroad.

There are no restrictions.

Knowing the current treasury bill rates in Ghana is not enough. You have to start investing in treasury bills.

You can buy the T-Bills on either the primary or secondary markets.

Alright;

Now you know the current treasury bill rate in Ghana and the various means of maximizing your gains.

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Definition Of Treasury Bill Terms You Must Know

Treasury bonds: These are government securities with long term, and you earn interest until maturity.

You are also paid an amount equal to the principal you started the investment with.

Because T-Bonds are backed by faith and credit of the (federal) government, it is an excellent investment to make.

Treasury notes: The treasury note is an intermediate bond or currency note issued by the government.

They are debt securities available from the government at fixed interest rates at either competitive or non-competitive bids.

The Face Value of a treasury bill is the nominal value or worth of the bond and hence the amount paid at maturity. That is why knowing the current treasury bill rate in Ghana is essential.

Savings bonds have a fixed interest rate over a fixed period.

Government bonds: It is also called a sovereign bond and is issued with a promise by the government to make interest payments periodically called coupon payment. The face value is then paid at maturity.

Fixed income securities: These are other forms of debt instruments with returns in the forms of fixed or regular interest payments.

The principal is repaid as soon as the principal reaches maturity. Bonds, T-bills, and the like are forms of fixed-income securities.

Read this guide: How Profitable Is Smoothie Business In Nigeria.

How has your experience been with investing in treasury bills in Ghana so far, especially going into January 2023?

Share your thought about the current treasury bill rate in Ghana in the comment section below.

This simple and easy article Was Last Updated on by Nana Abrokwa

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45 thoughts on “Current Treasury Bill Rate In Ghana (February 2023 Update) By Bank Of Ghana”

    1. Koduah Clement

      i want to buy T bill for 6 months then after can i renew it for another 6 months including the interest. thank you

      Reply
      1. Appiah Elvis

        Mr Koduah Clement, please you can’t add any amount to it until its maturity then you can roll over with its interest and may be additional money.

        Thank you!

        Reply
  5. kwabena Amo Frimpong

    Hi Abrakwa I like the idea of u educating n encouraging young Ghanaians to ninvest in T-bills …but my problem is I dnt understand it calculations …plss help me here…tanx

    Reply
  6. Jude agbesi

    My name is Jude agbesi, I have purchase 5000 worth of TBill for 1 yr ; what will be my interest at end of 1yr period

    Reply
    1. Nicholas

      Lets leave the 364 day-interest rate in one decimal place, so we have 17.9%.

      Therefore 17.9/100*5000 = 895

      For 1 year, your interest will be 895.00

      Thank you.

      Reply
  8. Commeh

    sometimes the rate you see online(BOG site) is higher than the rate used to calculate your money….
    eg online was 14.67 but 13.65 was used for me…
    please any help?

    Reply
  9. Nii

    For a year, which is 364 days the interest rate at the moment for 30th september is 17.9081% so the 17.9081/100 times(×) your principal which is Ghc5000. After calculation, the interest is Ghc895.405. So Ghc895.405 is what you will be getting in return as it stands today. It is not certain though. It can increase or drop too until your 364 days making 1 year is up.

    Reply
  10. Faithful Jones

    Ghanaians are enjoying a decent return on investment. I am a Nigerian so I would want to know how much interest can you earn from a treasury bill in Nigeria?

    Reply
  11. Sylvester Anane

    Is there any reliable online treasury bill interest rate calculator in Ghana. I don’t know if ADB, Cal bank, or GT bank have one for their treasury bills.

    Reply
  12. Koduah Clement

    if for example i start T bills with an amount of 5000ghc for 6 months can i add another money every month or i can’t add any money unless it’s up to 6 months

    Reply
    1. King Larry

      Hello Clement,
      No you can’t make additions to your principal until maturity. Then you can begin another
      Or alternatively, you invest in another Tbill whilst the initial one is still rolling

      Reply
    2. King Larry

      Hello Collins,
      For a 10year duration we’re looking at treasury bonds and not Tbills . For Tbills the highest duration is 3years (I stand to be corrected)

      Reply
  14. Alexis Asia

    Collins Agyeman
    calculate 17.908/100 multiplied by 10000 =1790 CEDI’s. Thus a year.
    If you need 10years later then, 1790×10=17900 . For ten years your accumulated interest will be ¢17900.
    Note: within these years interest rate might increase ace or decrease.

    Reply
    1. ELORM

      Please also take into consideration the compound interest assuming you are rolling over both the principal and the interest. If you are to rollover over a 10year period , the interest will be more than the GHS17,900.

      Reply
  19. Bob

    Please which interest rates affect the purchase? Is it the at the time of buying or at maturity incase the interest rates changes

    Reply
  20. Prince

    Don’t forget the Interest rates vary from bank to bank…and more over if you are rolling over it means your interest is going to be higher.

    Reply
  28. Lawrence

    hi, this is a very good article and thank you for taking time to write it. very insightful.
    can you please make a compilation of all the interest rates offered by the various banks, at least the most popular banks so we can compare them with what the BOG is offering? At least that will help in knowing what our options are when we want to invest in this T-bills. Thank you!!

    Reply
  29. Jojoe Hanson

    To all those who want to know how much they will earn from their principal, check out for this:

    ( Interest Rate /100) * Principal = Interest for the year

    so if you want to know how much you will earn for the 3 month maturity period, it goes like this;

    (3 month/12 month) * Interest for the year = Interest for the 3 months
    I trust you get the calculation.

    Reply

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