T Bills

By Terry Savage on March 19, 2023 | Chicken Money

Hi Terry,
Do the T-bill rates reset every week at auction whether I purchase a 4 week bill or a 6 month bill? If I schedule my 4 week bill to reinvest 3 times but decide to cash it out before hand, will I be penalized? Thanks!

Terry Says

A new rate is reset at every T-bill auction.
If you set up an automatic renewal, you must cancel the renewal a few days before the rollover is due to take place. Then the money will drop back into your bank account.
But you cannot access your money in between renewals. You have to wait until maturity.



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