Treasury Bills (T-Bills)

Pakistan's Premier Short-Term Investment

Treasury Bills (T-Bills) are short-term government securities issued by the State Bank of Pakistan (SBP) on behalf of the federal government. Available in 3-month, 6-month, and 12-month tenors, T-Bills are considered the safest investment in Pakistan — they carry the full faith and credit of the government and serve as the benchmark risk-free rate for the entire financial system. With rates currently in the 12-15% range, they offer compelling returns for conservative investors.

T-Bills are sold through fortnightly auctions conducted by SBP, where banks and financial institutions submit competitive bids. Individual investors can participate through the SBP's iInvest platform or through their banks and brokers. T-Bills are zero-coupon instruments — they are issued at a discount to face value and redeemed at par on maturity, with the difference representing your return. The minimum investment is PKR 100,000, and they are highly liquid as they can be sold in the secondary market before maturity.