If you are buying or selling a US Treasury Bill, you can use this online converter to calculate the BEY (Bond Equivalent Yield), also called investment/interest rate or coupon equivalent yield from a given discount rate. Other performance measures are also provided, including interest income at maturity.

BEY (Bond Equivalent Yield) and other information calculated by FYIcenter.com:

BEY (Bond Equivalent Yield): 2.4207%.

Security Details:
  Security type: US Treasury Bill
  Unit price: $97.6289 for $100.00 face value
  Accrued interest: $0.00 for $1,000.00 face value.
  Totoal price: $976.2894 for $1,000.00 face value
  Discount rate: 2.3450%
  BEY (Bond Equivalent Yield): 2.4207%
  YTM (Yield To Maturity): 2.4354%.
  Maturity date: 2026-10-14
  Days/months/years/weeks left: 364/11.97/1.00/52.00

Income Information:
  Interest income for 2026: $23.71
  Capital gain income for 2026: $0.00
  Total income: $23.71

--------------------------------------------
Sensibility Tests: 
  Dis. Rate    Chg Val |        BEY    Chg Val
  ---------  --------- |  ---------  ---------
    2.3450%   baseline |    2.4207%   baseline
    2.4450%     0.1000 |    2.5259%     0.1052
    3.3450%     1.0000 |    3.4800%     1.0593

--------------------------------------------
Related Conversion Tools:
  Discount Rate to Price Converter for T-Bills
  Price to Discount Rate Converter for T-Bills
  BEY (Bond Equivalent Yield) to Price Converter for T-Bills
  Price to BEY (Bond Equivalent Yield) Converter for T-Bills
  BEY to Discount Rate Converter for T-Bills
  Discount Rate to BEY Converter for T-Bills
  YTM (Yield To Maturity) to Price Converter for T-Bills
  Price to YTM (Yield To Maturity) Converter for T-Bills
  YTM to Discount Rate Converter for T-Bills
  Discount Rate to YTM Converter for T-Bills
  YTM to BEY (Bond Equivalent Yield) Converter for T-Bills
  BEY (Bond Equivalent Yield) to YTM Converter for T-Bills

The following formula is used in the above calculations:

$F=P\times (1+i\times {\displaystyle \frac{{\displaystyle \frac{\mathrm{Year}}{2}}}{\mathrm{Year}}})\times (1+i\times {\displaystyle \frac{\mathrm{Days}-{\displaystyle \frac{\mathrm{Year}}{2}}}{\mathrm{Year}}})$
$P=\text{Purchase price}$
$F=\text{Face value}$
$i=\text{BEY (Bond Equivalent Yield)}$
$\mathrm{Days}=\text{Days to maturity}$
$\mathrm{Year}=\text{365 or 366}=\text{Actual number of days in the year}$

As you can see from the above formula, the BEY (Bond Equivalent Yield) represents the annualized rate of the compounding interest you earn on your investment (the price you paid for the T-Bill).

Note that if the T-Bill is maturing in less than or equal to one half-year, the compounding interest should be replaced by a simple interest.

For more information, see the following tutorials:

• Discount Rate of US Treasury Bill
• BEY (Bond Equivalent Yield) of Short US Treasury Bill
• BEY (Bond Equivalent Yield) of Long US Treasury Bill

⇒ YTM (Yield To Maturity) to Price Converter for T-Bills

⇐ BEY to Discount Rate Converter for T-Bills

⇑ Tools on US Treasury Securities

⇑⇑ Financial Tools