July 18th, 2022 at 09:31 am

What is the current treasury bill rate in Ghana?

A treasury bill is a short-term investment product that is backed by the Bank of Ghana on behalf of the government. It is one of the safest ways of investing your money because they have the backing of the government and are risk-free.

Treasury bills are also the most traded securities on the money market because of their simplicity. The government normally raises funds from the public using treasury bills.

TYPES OF TREASURY BILLS IN GHANA

Below is a list of the various treasury bills on the Ghana money market are:

• 91 days or 3 months treasury bill
• 182 days or 6 months treasury bill
• 365 days or 1-year treasury bill

You need to know the interest rate in order to earn some interest from the treasury bill. You should know that with this type of investment, the Interest Rate on your principal may be huge. For some investors, the interest rate set by the Bank of Ghana is enough for then.

DIFFERENCE BETWEEN A TREASURY BILL AND A FIXED DEPOSIT

• A treasury bill is a form of investment sold by Ghana’s Central bank for a specific period. It is the Central Bank that tells the amount of treasury bill that needs to be sold.
• On the other hand, a fixed deposit is a form of investment issued by a financial institution to its depositors for a specific time frame. This investment is not controlled by the Bank of Ghana. For the fixed deposit, the banks determine the interest rate on the money deposited in your account.
• The principal and interest of the fixed deposit are paid at maturity. The treasury bill is tax-free whereas the fixed deposit is subjected to tax. With the treasury bill, investment cannot be rolled over but the fixed deposit’s investment can be rolled over.
• Also, the treasury bills amount to be invested is limited but the amount for the fixed deposit is limitless.
• Last but not least, the investment of the treasury bills is safe and secured meanwhile, with the fixed deposit the security of the investment is based on the degree of the solvency of the bank.

WHO CAN BUY TREASURY BILLS IN GHANA?

Anyone at the age of 18 years and above can buy treasury bills. It is open to both foreigners and residents alike.

CURRENT TREASURY BILL RATE IN GHANA.

According to over-the-counter interbank yield quotes, the treasury bill rate stands at 24.32 percent as of Friday, July 15, 2022.

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