How to Buy Treasury Bills in Ghana (2026): Rates and Steps

Ghana Treasury bills are short-term loans to the government, auctioned weekly by the Bank of Ghana. They come in 91-day, 182-day and 364-day terms and are among the safest ways to earn interest on cedis. Thanks to mobile money services, you can now buy T-bills in Ghana with very small amounts. This guide explains the latest Treasury bill rates in Ghana, where and how to buy them, how tax works, and how to decide which term suits you.

Latest Treasury bill rates in Ghana

At the auction of 26 October 2026, the rates were about 4.61% for 91 days, 6.29% for 182 days and 9.67% for 364 days. These are yearly rates, so a 91-day bill earns about a quarter of its stated rate. For example, GH₵1,000 earns roughly GH₵11.50 over 91 days.

Rates have fallen sharply: the 91-day rate was above 10% a year earlier. Inflation was 5.2% in September 2026, so the 364-day bill still beats inflation comfortably, while the 91-day bill does not. If you can leave your money for a year, the longer bill currently offers a much better real return.

How a Treasury bill earns money

When you buy a Treasury bill, you lend money to the government for a fixed period. At maturity, you receive your money back plus interest. Because the term and rate are fixed when you buy, you know exactly what you will receive, which makes Treasury bills useful for planned expenses such as school fees or rent due on a known date.

Where to buy Treasury bills in Ghana

Banks and licensed securities dealers. Most banks and licensed dealers can buy Treasury bills for you. You usually need a Central Securities Depository (CSD) account, which holds your securities electronically, and your Ghana Card.

Mobile money. Ecobank's TBill4All service lets MTN MoMo users buy 91-day and 182-day bills from as little as GH₵5 by dialling *770#. This has opened Treasury bills to people who do not have a bank account or large savings.

Minimum amounts vary by provider. Some banks require GH₵1,000 or more, while mobile services accept much smaller sums, so compare options before you start.

How to buy Treasury bills in Ghana, step by step

1. Choose a provider. Pick a bank, licensed dealer or mobile service and open an account, with a CSD account where needed. Have your Ghana Card ready.

2. Pick the term and amount. Decide between 91, 182 and 364 days based on when you will need the money and on current rates.

3. Place your order. Submit your order before the weekly auction and fund it. Your provider will confirm whether your bid was successful and the rate you received.

4. At maturity. Take your money, or roll it over into a new bill. Rolling over regularly keeps your savings earning interest without gaps.

Tax on Treasury bills in Ghana

Interest earned by individuals on Ghana government securities has been exempt from income tax, which means the rate you see is close to what you keep. Check with your bank in case the rules change, since tax policy on government securities has been debated.

Choosing the right term

Short bills give flexibility and let you reinvest quickly if rates rise. Longer bills lock in a higher rate, which is valuable when rates are falling, as they have been in 2026. Many savers split their money across terms, so that some cash matures every few months. For long-term retirement savings, look at Tier 3 pension products; see our guide to Ghana's three-tier pension scheme. Mutual funds are another option for regular saving; see mutual funds and unit trusts in Ghana.

Frequently asked questions

What is the minimum to buy Treasury bills in Ghana?

It depends on the provider; mobile services such as TBill4All start from GH₵5, while some banks ask for GH₵1,000 or more.

How often are Treasury bills auctioned in Ghana?

The Bank of Ghana holds Treasury bill auctions weekly.

Is Treasury bill interest taxed in Ghana?

Interest earned by individuals on government securities has been exempt from income tax.