You didn’t pay $5k. You bought it at a discount. T-bills are “zero coupon” meaning they don’t pay an interest payment, instead you buy them for less than face value and get paid face value. The difference between the two numbers equates to the yield you should get.

Edit : so I have a 4mo, it’s face is $20k. I paid $19,694. The price was $98.4712 so the effective yield is 4.76%.

It was. Bills are zero coupon. You buy at a discount and then receive the full face upon maturity.

T-Bills trade on a “discount” you buy $100 worth for $95 but get back $100 at maturity, that $5 difference is the interest, you don’t get a separate interest “coupon”. Look at your actual cost basis, I don’t think it’s $5k as that would indeed mean 0% interest which isn’t where rates are these days

might want to review the info under "Bills" on the TD.gov site: https://www.treasurydirect.gov/marketable-securities/understanding-pricing/

you already got the interest the day you successfully put it in… check ur bank account

You didnt pay 5k. How much did you actually pay. Also 4.35% is annualized. For a 4 month tbill you would have earnws 4.35%/3 or 1.45%. So...you likely paid about $4927 for your 5k tbill...check your bank.

Well...i get what you mean but you dont actually get the yield until it pays out after 4 months.

I paid $4947.25. I see how this works now. TY for your help.

On the secondary market through a brokerage is it any different?

You tie up 20K to make $300? Is that a thing that people do that’s advisable?

It's a guaranteed return with no additional effort or gambling on price fluctuations. Yes, people do that.

If you had $20k in a savings account making 4.76% after 4 months it would be the same thing.

T-Bills are a solid asset for part of your bond allocation in your overall portfolio. Guaranteed to make the rate that you bought them at