Where to Buy U.S. Treasury Bills Online (Simple Guide)

U.S. Treasury Bills (T-Bills) are short-term debt securities backed by the full faith and credit of the U.S. government, making them one of the safest investments available. They are often considered the ultimate safe haven for short-term cash.

T-Bills work differently than savings accounts: you buy them at a discount to the face value, and the difference is the interest you earn when you receive the full face value back at maturity (e.g., you pay $990 today and get $1,000 back in six months).

The good news is you have two easy paths to buy them online.

Path 1: Buying Direct from the Government (TreasuryDirect)

TreasuryDirect.gov is the official government platform where you can buy and hold T-Bills directly. This is the simplest and purest way to invest.

Pros of Using TreasuryDirect

• Zero Fees/Commissions: You pay no commissions or extra fees; you only pay the auction price.
• Low Minimums: You can start with a minimum of $100 per T-Bill.
• Guaranteed Execution: When bidding non-competitively (the standard way), you are guaranteed to get the T-Bill you want at the yield determined by the auction.
• Direct Reinvestment: You can easily set up T-Bills to automatically reinvest (roll over) upon maturity.

Cons of Using TreasuryDirect

• Clunky Interface: The website and user experience are often criticized for being dated and less intuitive than commercial brokerage apps.
• Selling Restriction: You generally must hold newly purchased securities for at least 45 days before selling them on the secondary market.
• No Secondary Market Access: You cannot sell your T-Bills to other investors directly on TreasuryDirect; you must transfer them to a broker if you want to sell them before maturity.

How to Buy T-Bills on TreasuryDirect (The Steps)

1. Open an Account: Set up a password-protected account on TreasuryDirect.gov. You will need your SSN/TIN, a U.S. address, and linked bank account information.
2. Navigate to Buy: Once logged in, click the "Buy Direct" tab.
3. Select T-Bills: Choose "Bills — Short-term securities of 1 year or less."
4. Select Term: Choose the term you want (e.g., 4-, 8-, 13-, 26-, or 52-week).
5. Submit Non-Competitive Bid: Enter the total face value amount you want to purchase (multiples of $100) and choose "Non-Competitive Bid." You accept the final auction rate.
6. Confirm: Review the details and submit your order before the auction date.

Path 2: Buying Through an Online Broker

Most major online brokerage accounts—like Fidelity, Charles Schwab, Vanguard, Webull, and E*Trade—allow you to buy T-Bills, both at auction and on the secondary market.

Pros of Using a Broker

• Convenience: You can manage your stocks, ETFs, and T-Bills all within a single, modern app or platform.
• Secondary Market Access: Brokers allow you to buy previously issued T-Bills instantly on the secondary market or sell a T-Bill before its maturity date.
• Fractional Bonds (New): Some platforms like Webull have begun offering fractional bonds, making T-Bills accessible with minimums as low as $100 per order, matching TreasuryDirect.
• No Commissions: Most large brokers (Fidelity, Schwab, Vanguard) offer $0 commissions for online purchases of U.S. Treasuries.

Cons of Using a Broker

• Hidden Minimums: While the government minimum is $100, some brokers may require a higher minimum investment (e.g., $1,000) for a single fixed-income order.
• Complexity: The process of buying at auction or selecting from the secondary market can be more detailed and complex than the simple TreasuryDirect interface.
• Potential Fees: While online orders are usually free, placing an order over the phone with a representative may incur a service fee.

How to Buy T-Bills on a Brokerage Platform

1. Log In and Navigate: Go to the "Trade" or "Bonds & Fixed Income" section of your broker's site.
2. Choose Purchase Type: Select either "Treasury Auction" (to buy new issues) or "Fixed Income Offerings" / "Secondary Market" (to buy T-Bills already issued).
3. Filter and Select: Filter the results by "Treasury Bills" and select the desired maturity date (e.g., 13-week, 26-week).
4. Place Order: Enter the face value amount you wish to purchase (typically in multiples of $100) and submit the non-competitive bid.

The Verdict: Which Path Is Right for You?