**You will hardly find an investor who wants to buy Treasury bills without, first of all, finding out what the Treasury bill rate is. This is because it is a major factor that is usually considered in determining what the return will be like after investing in the bills. Another factor that influences the interest that one gets eventually is the maturity date which an investor chooses. Therefore, in this article, we consider the Treasury bill rates released by the Bank of Ghana since the beginning of the year 2018. We also look at the Ghana Treasury bills calculator as well as the fixed deposit rates in Ghana, among other things.**

The maturity dates an investor chooses has a major influence on what the interest rate of the Treasury bill they have bought will be like. There are options touching the maturity dates which an investor can choose from. Depending on the investor, it may take up to 3 months (which is equal to 91 days) or 6 months (which is 182 days) before a Treasury bill matures. For those who would like to wait for up to a year, there is also a provision and a juicy higher interest rate. Therefore, let us consider the Treasury bill rate in Ghana and a compiled list of all the Treasury bill rates since January 2018. Then, we also look at the fixed deposit rates offered by various banks in Ghana.

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## Bank of Ghana Treasury bill interest rates 2018

Below is a compilation of all the Treasury bill interest rates released by the Bank of Ghana since the beginning of the year 2018.

**1. Monday 1st January, 2018 to Friday 5th January, 2018**

Period: 91 days (13.3121%), 182 days (13.8906%).

**2. Monday 8th January, 2018 to Friday 12th January, 2018**

Period: 91 days (13.3282%), 182 days (13.8749%).

**3. Monday 15th January, 2018 to Friday 19th January, 2018**

Period: 91 days (13.3666%), 182 days (13.8930%).

**4. Monday 22nd January, 2018 to Friday 26th January, 2018**

Period: 91 days (13.3209%), 182 days (13.8186%).

**5. Monday 29th January, 2018 to Friday 2nd February, 2018**

Period: 91 days (13.3513%), 182 days (13.9114%).

**6. Monday 5th February, 2018 to Friday 9th February, 2018**

Period: 91 days (13.3205%), 182 days (13.8924%).

**7. Monday 12th February, 2018 to Friday 16th February, 2018**

Period: 91 days (13.3654%), 182 days (13.9073%).

**8. Monday 19th February, 2018 to Friday 23rd February, 2018**

Period: 91 days (13.3412%), 182 days (13.8933%).

**9. Monday 26th February, 2018 to Friday 2nd March, 2018**

Period: 91 days (13.3476%), 182 days (13.8971%).

**10. Monday 5th March, 2018 to Friday 9th March, 2018**

Period: 91 days (13.3730%), 182 days (13.8890%).

**11. Monday 12th March, 2018 to Friday 16th March, 2018**

Period: 91 days (13.3487%), 182 days (13.8800%).

**12. Monday 19th March, 2018 to Friday 23rd March, 2018**

Period: 91 days (13.3429%), 182 days (13.9119%).

**13. Monday 26th March, 2018 to Friday 30th March, 2018**

Period: 91 days (13.3642%), 182 days (13.9003%).

**14. Monday 2nd April, 2018 to Friday 6th April, 2018**

Period: 91 days (13.3148%), 182 days (13.8847%).

**15. Monday 9th April, 2018 to Friday 13th April, 2018**

Period: 91 days (13.3343%), 182 days (13.8912%).

**16. Monday 16th April, 2018 to Friday 20th April, 2018**

Period: 91 days (13.3643%), 182 days (13.8726%).

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**17. Monday 23rd April, 2018 to Friday 27th April, 2018**

Period: 91 days (13.3294%), 182 days (13.8871%).

**18. Monday 30th April, 2018 to Friday 4th May, 2018**

Period: 91 days (13.3595%), 182 days (13.8632%).

**19. Monday 7th May, 2018 to Friday 11th May, 2018**

Period: 91 days (13.3294%), 182 days (13.8362%).

**20. Monday 14th May, 2018 to Friday 18th May, 2018**

Period: 91 days (13.3783%), 182 days (13.8589%).

**21. Monday 21st May, 2018 to Friday 25th May, 2018**

Period: 91 days (13.3497%), 182 days (13.8265%).

**22. Monday 28th May, 2018 to Friday 1st June, 2018**

Period: 91 days (13.3382%), 182 days (13.8721%).

**23. Monday 4th June, 2018 to Friday 8th June, 2018**

Period: 91 days (13.2370%), 182 days (13.8509%).

**24. Monday 11th June, 2018 to Friday 15th June, 2018**

Period: 91 days (13.3045%), 182 days (13.8189%).

**25. Monday 18th June, 2018 to Friday 22nd June, 2018**

Period: 91 days (13.3376%), 182 days (13.8940%).

**26. Monday 25th June, 2018 to Friday 29th June, 2018**

Period: 91 days (13.3251%), 182 days (13.8518%).

**27. Monday 2nd July, 2018 to Friday 6th July, 2018**

Period: 91 days (13.3321%), 182 days (13.8589%).

**28. Monday 9th July, 2018 to Friday 13th July, 2018**

Period: 91 days (13.3229%), 182 days (13.8556%).

**29. Monday 16th July, 2018 to Friday 20th July, 2018**

Period: 91 days (13.3152%), 182 days (13.8654%).

**30. Monday 23rd July, 2018 to Friday 27th July, 2018**

Period: 91 days (13.3258%), 182 days (13.8022%).

**31. Monday 30th July, 2018 to Friday 3rd August, 2018**

Period: 91 days (13.3118%), 182 days (13.8279%).

**32. Monday 6th August, 2018 to Friday 10th August, 2018**

Period: 91 days (13.3063%), 182 days (13.8172%).

**33. Monday 13th August, 2018 to Friday 17th August, 2018**

Period: 91 days (13.2976%), 182 days (13.8613%), 1-Year note (14.5000%).

**34. Monday 20th August, 2018 to Friday 24th August, 2018**

Period: 91 days (13.3078%), 182 days (13.8625%), 1-Year note (14.5000%).

**35. Monday 27th August, 2018 to Friday 31st August, 2018**

Period: 91 days (13.3264%), 182 days (13.8656%), 2-Year Note (18.0000%).

**36. Monday 3rd September, 2018 to Friday 7th September, 2018**

Period: 91 days (13.3628%), 182 days (13.8326%).

**37. Monday 10th September, 2018 to Friday 14th September, 2018**

Period: 91 days (13.3630%), 182 days (13.9335%).

**38. Monday 17th September, 2018 to Friday 21st September, 2018**

Period: 91 days (13.3705%), 182 days (14.1851%), 1-Year note (15.0000%).

**39. Monday 24th September, 2018 to Friday 28th September, 2018**

Period: 91 days (13.3856%), 182 days (14.1796%)

**40. Monday 1st October, 2018 to Friday 5th October, 2018**

Period: 91 days (13.4068%), 182 days (14.3349%), 1–Year note (15.0000%)

**41. Monday 8th October, 2018 to Friday 12th October, 2018**

Period: 91 days (13.4133%), 182 days (14.2746%), 2–Year note (19.5000%)

**42. Monday 15th October, 2018 to Friday 19th October, 2018**

Period: 91 days (13.4735%), 182 days (14.3175%), 1-Year note (15.0000%)

## Ghana Treasury bills calculator

While you are trying to get the interest rate on the Treasury bills you invest in, there are two options that you can choose from to help you out. You can either calculate it manually or use the automated Ghana Treasury bills calculator available online. Whichever one you choose to use, there is a little information you must get to help you out in the calculation process. In order to calculate the interest you will earn, you need to note the following:

### 1. The interest rate that has been quoted

At every point in time when Treasury bills are to be sold, there is usually a stipulated interest rate that would have been quoted. These interest rates vary from week to week. However, the essence of the quoted interest rates is to help investors decide whether they are comfortable with it and are willing to invest at that time or not. It will also help them to know how much profit to expect.

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### 2. The maturity of the Treasury bill

As discussed earlier, there are three major options of different maturity dates that are available to anyone who wants to invest in Treasury bills. The days are 91 days, 182 days and a year. Sometimes, there could be an offer for two years. Whatever option you choose out of these is what you will use to calculate the profit to expect eventually.

### 3. The principal amount you want to invest with

Of course, you should have an amount in mind that you want to invest with. The total amount you are investing in the Treasury bill is called the principal.

If you are using the online automated Treasury bill interest rate calculator in Ghana, all you need to do is to input the information as required and it will automatically generate what your interest will be. But if you are doing it manually, you will have to do some mathematical calculations.

## 3 month Treasury bill interest rate

As at the time of writing, the interest rate quoted on the 91-day (3 months) Treasury bills according to the Bank of Ghana is 13.4735%.

So, having known that, as an investor, one of the questions you may want to find an answer to is "what interest will you get on the amount you eventually invest with".

Based on the points explained above, let us do some manual calculations to help you understand the process better. Let us assume you want to calculate the interest on a 3 months Treasury bill you want to invest in. Since you already know the number of days until maturity, the other information you need is the amount you are investing with.

Using the interest rate above which is 13.4735% and the number of days until maturity of 91 days (3 months), let us assume you want to invest with GHC 10,000. This is how you will calculate your interest:

- Divide the interest rate (13.4735% in this case) by 100 and then multiply by 10000 (the principal you are investing with). Whatever answer you get is what the annual interest will be. That is, (13.4735/100) x 10000 = GHC 1347.55.
- The next step is to calculate the interest in 3 months. Since the answer in step one gives us the one for 12 months, what we will do is to divide 3 by 12 (the months) and multiply with the answer we got in the first step. That is (3/12) x GHC 1347.55 = GHC 336.8375.

This means that for an investment of GHC 10,000 in the Treasury bills with (13.4735% interest rate for 3 months, an investor will get GHC 336.8375 interest at the period of maturity.

However, in the purchase of Treasury bills, the major actors in the process are financial institutions. Banks act as the intermediary between the government and prospective customers who are willing to buy the T-bills. Consequently, apart from the Treasury bill rate published by the Bank of Ghana on a weekly basis, every bank also has their set rate.

While these banks don't publish their rates on their official websites, interested customers may have to approach them to find out what the rate for each week is. This means that anyone who wants to find out about the Treasury bill rate in Fidelity Bank or the Treasury bill rate in Ghana Cal Bank may have to visit any of their branches. Another option is to put forth a call to whichever bank they want to make inquiry from in order to get the necessary information.

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## Fixed deposit rates in Ghana

One of the opportunities that financial institutions offer their customers to invest their money is through the fixed deposit account. The way it operates is that customers will keep their money for a period of time and earn some interest at the time of collection based on a fixed percentage. This safe form of investment has a period of maturity ranging from a month, three months to six months and even a year. There are some banks that offer weeks for maturity. There are also those that grant the opportunity to fix the money for up to sixty months.

Depending on the financial institution, there are different interest rates they offer customers who want to apply for this service. But then, the major factor that influences the interest rate given on any fixed deposit is the maturity date chosen. Below is a list of the fixed deposit rate of some of the banks in Ghana.

- HFC Bank offers an interest rate of 10.6% based on the fixed deposit amount and the maturity day.
- Fidelity Bank Ghana Ltd offers as much as 11.5% interest rate depending on the amount and the date of maturity.
- The interest rate offered by the National Investment Bank of Ghana (NIB) stands at 11.4 per cent based on the amount to be fixed and the maturity date.
- You can get an interest rate of 9.3% from GCB Bank Ltd depending on the amount and date of maturity.
- Zenith Bank of Ghana offers an interest rate of 12.0 per cent on the fixed deposit.
- The First National Bank of Ghana offers as much as 11.5 per cent interest rate based on the amount and the period of maturity.

Having read about the various treasury bill rates from the beginning of the year 2018 till now, and having discovered how to calculate the amount of interest to expect on your treasury bill investment at the end of a set period, you are well equipped to make the decision to invest your money wisely to get more of it.

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