Treasury Bills & Bonds

Treasury Bills & Bonds

T-Bills and T-Notes are indexed instruments.

The main difference is that T-Bills have maturities of less than one year while T-Notes have maturities of more than one year.

If you hold T-Bills and Government Bonds until maturity, payment of both principal and interest is guaranteed.


T-Bills and T-Notes are short and long-term government borrowing instruments.

  • They are guaranteed by the Albanian Government.
  • They provide fixed returns (if you invest your money till due maturity) and are liquid instruments.
  • In a volatile market where the interest rates are going up, there is risk.
  • Investing on securities is not like investing on time deposit. It is possible that you lose a part of your principal amount if you cannot hold securities till their due maturity.
  • BKT offers full range custody service for your T-bills and T-notes investment.
  • They may be bought and sold between 09:00-14:00 with the same day value as long as you perform your transactions with BKT’s custody account
  • T-Bills are sold at a discount and the gain at maturity is known in advance.
  • T-notes have coupons. Coupon-bearing T-notes are issued at fixed or floating interest rates.
  • Coupon payments of T-Notes are done semi-annually (on every 6-months)
  • These instruments may be bought or sold before the original due maturity at current market prices as long as you keep your T-Bills/T-Notes investment in BKT’s custody Acc.
  • T-Bills can be converted to cash at any time. They may be sold on the secondary market through the bank’s branches before maturity.
  • If you’re interested in putting your savings to work in the short or long term and be assured of reliable, fixed income, then buying securities is for you.
  • To trade in Government Bonds and T-Bills, all you need is a Current Account.


  • The interest rates quoted are gross rates. For individuals the bank is required by law to apply withholding tax over bank interest.