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JUNE 11, 2017

Guide to investing in treasury bills in

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Ghana
What I write about
Treasury bills (T-bills) are among the most popular investment instruments in the
Accounting (185)
country. But despite the high demand for them, a lot of people do not have a good
Career (76)
idea of what they actually are. In this post I will explain what T-bills are, how the Commodities (87)
return on them is determined and the advantages and disadvantages of having them Economics (236)
in your portfolio. Entrepreneurship (35)
Finance (276)
Hunting Hurdles (13)
What are T-bills? 
Infographic (31)
Investment Mistakes (10)
Treasury bills are short-term loans that the government takes to nance various Oil, Gas & Energy (67)
operations. In Ghana, the maturity of T-bills are 91-days and 182-days with each of Personal (18)
them offering a different return. Because T-bills are guaranteed by government, it is Personal Finance (180)
Politics (109)
considered a risk-free investment and therefore it is usually used as a benchmark for
Tax (73)
determining the value of any investment. If an investment offers you returns lower
Technology (34)
than a T-bill, then you probably would not want to invest in it. Uncategorized (41)

How are T-bill rates determined?

The government issues T-bills through auctions. The auctions are not open to the Sign up for This Month in
Money Newsletter
general public. They are only available to primary dealers.  These are nancial
institutions which are permitted by the Bank of Ghana (BoG) and licensed by the
FIRST NAME
Securities and Exchange Commission (SEC) to buy government securities issued by
the BoG. Click here for the list of primary dealers in Ghana.

The government issues the T-bills worth a certain value (known as the face value) to LAST NAME

be redeemed within 91 or 182 days (the maturity period) and the dealers bid to buy
the T-bills at a price lower than that face value. This is called buying at a discount.
The difference between the price which the dealers pay for the T-bill and the face
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value of the T-bill is the interest. For example if a dealer buys a T-Bill with a face
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value of GH¢1,000 at GH¢900, then the difference of GH¢100 is the interest earned on
the investment. At the end of each auction, the average of the bids determines the T-
bill rate which is published on the BoG website. Sign up

How do individual investors buy T-bills?

Trending
If you could not get your head around the preceding section, do not worry. It is
irrelevant for individual investors. Most nancial institutions offer T-bills to the Guide to investing in
treasury bills in Ghana
general public with minimum purchases of about GH¢100 or GH¢200. You can choose
Three high-return,
to purchase it for 91 days or 182 days, with the 182-day version having a higher
low-risk investments
interest rate because of the longer maturity period. You will have the option to have in Ghana

your principal and interest deposited in your account at maturity; have the interest Guide to investing in
xed deposits in Ghana
deposited in your account and the principal rolled over (re-invested in T-bills); or
ICAG vs ACCA: Which
have the interest added to your principal and the total rolled over. Many nancial should you pick?
institutions offer you the opportunity to redeem your investment before maturity. Be
The easiest way to
sure to ask about this before buying, in case you may need to withdraw money for an invest in the Ghana
Stock Exchange
emergency.
Bank lending and
deposit interest rates –
Advantages of T-bills February 2018

Guide to investing in
Mutual Funds in Ghana
No risk of losing your investment (as long as the government does not collapse).

It is liquid i.e. it is usually easy to redeem your investment whenever you need it.

No fees. You are usually not charged investment fees when you buy T-bills.
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No taxes. Returns on your T-bills are not taxed in Ghana.
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Easy to buy. Your bank probably offers it.

Low volatility. Treasury bill rates rise and fall less wildly than other investments
e.g. stocks. Subscribe to Blog via
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You feel like you are contributing to help the country develop. (Debatable lol)
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Disadvantages of T-bills
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Relatively low returns. It is risk-free so do not expect to earn exceptional returns

on this. This is not always true but it is usually true over long periods compared to Subscribe
other assets.

Returns are not xed. Since the rates are determined by auctions, you could have
your T-bill rolled over at a rate lower or higher than your initial purchase.
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It draws investment from the stock market. One reason why the Ghana Stock
Exchange (GSE) sees low volumes is because T-bills are usually the rst option for
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many investors.
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It makes borrowing costs high for businesses. T-bill rates in Ghana are usually @CediTalkdotcom

Performance of Ghanaian Stocks –

high and this draws banks to invest in them to the detriment of businesses looking February 2020
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for credit.

Everybody buys them. If you buy T-bills then you do not stand out as investor. I
have written before that one should not care that an investment isn’t sophisticated.
But it apparently bothers some people that they are doing something everyone else
is.
Feb 28, 2020

Thanks for reading. If you enjoyed this kindly take the time to share. If you have any
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this
Guide to investing in fixed Why treasury bill yields are Government's short-term
deposits in Ghana falling borrowing costs fall as
June 25, 2017 December 22, 2016 inflation drops
In "Accounting" In "Economics" June 15, 2017
In "Accounting"

 ACCOUNTING  ECONOMICS  FINANCE  PERSONAL FINANCE  TAX

 ARE T-BILLS GOOD  GOVERNMENT SECURITIES IN GHANA  INVESTING IN T-BILLS IN GHANA

 SHOULD I BUY T-BILLS  SHOULD YOU INVEST IN T-BILLS IN GHANA  T-BILLS IN GHANA

Jerome Kuseh
Economist & nancial analyst who has been providing investors with relevant information about
African markets since 2012. Let's talk business - jerome[at]ceditalk[dot]com

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164 comments

Josh
JUNE 13, 2017 AT 9:21 AM

Really interesting, easy-to-digest and enlightening write up!

Jerome Kuseh
JUNE 14, 2017 AT 5:33 PM

Thanks for reading!

Matthew Cesc
DECEMBER 10, 2018 AT 8:44 PM

So T bill is much better investments than that of xed deposits?

Jerome Kuseh
DECEMBER 11, 2018 AT 1:53 PM

It depends on how much risk you are willing to take. T-bills have
lower risk and lower returns.

bizzlekay
JUNE 18, 2017 AT 3:33 PM

What’s the best safe place to put money for about 2 years?

Jerome Kuseh
JUNE 19, 2017 AT 8:18 AM

Treasury bills are risk-free and liquid, so they are the safest. Other
relatively safe places are xed deposits with reputable nancial institutions or
mutual funds.

Lhexiz
JULY 26, 2017 AT 10:47 PM

Great stuff
Before my investment reaches maturity, do I need to inform the bank few days earlier
in order to withdraw my investment plan???

Jerome Kuseh
JULY 27, 2017 AT 1:42 PM

Yes, if you have requested a rollover. You usually have to inform your
bank about a week to maturity that you no longer wish to re-invest, so the amount
should be credited to your account. Nevertheless, even if it is re-invested, you can
still withdraw. The only thing will be that you will lose some of the interest on the
T-bill.

Martha Arongo
JULY 31, 2017 AT 11:56 AM

Please, which of these will you suggest for me to invest; Fixed deposit or
Treasury bills. Which of them is likely to fetch me more interest?

Jerome Kuseh
AUGUST 4, 2017 AT 1:22 PM

Treasury bills are safer but xed deposits usually have higher interest
rates. Your choice depends on what your objectives are.

Francis kwo e
DECEMBER 16, 2018 AT 1:28 PM

Did every banks accepts treasure bill account!

Diana Mensah
SEPTEMBER 8, 2017 AT 7:35 AM

I leave in Norway wants buy treasury bills in ghana,how can start from
in how much money i can sue to buy?

Jerome Kuseh
SEPTEMBER 8, 2017 AT 2:04 PM

Hi Diana,

You can let someone you trust buy it for you. Usually you can buy with any amount
from GHS200.

Sam
SEPTEMBER 21, 2017 AT 7:34 PM

Which banks in Ghana have high interest rate on treasury bills? And
which banks can I buy treasury bill from..

Jerome Kuseh
SEPTEMBER 22, 2017 AT 6:39 PM

Hi Sam, all nancial institutions have the same interest rate of T-bills
because it is issued by the government. Kindly be checking bog.gov.gh for the latest
rates

Jay
OCTOBER 6, 2017 AT 10:22 PM

I’m from UK and I have a bank account in Ghana, once I receive the
funds from my T bill investment, how much tax will I need to pay to send back to UK?

Jerome Kuseh
OCTOBER 10, 2017 AT 12:37 PM

I’m not familiar with the UK tax code but my guess is it would be
added to your income for the year and taxed at the marginal tax rate. Do kindly get
in touch with a UK nance adviser

Pamela
OCTOBER 10, 2017 AT 11:27 PM

Please I’m a student who wants to buy T bills, I’m I going to deposit
money every month? …And please can you tell me some of the terms and conditions
which will be helpful for me..Thank you.

Jerome Kuseh
OCTOBER 15, 2017 AT 6:26 PM

Kindly go to any bank and make your purchase. You do not deposit
monthly, you buy them as and when you want to. There are no signi cant terms
and conditions. The bank will answer any question you may have.

Matthew Dadzie
OCTOBER 16, 2017 AT 10:03 PM

Hi Jerome, your explanations and advisory feedback are very much

laudable. How can i get in touch with you?

Jerome Kuseh
OCTOBER 17, 2017 AT 9:53 AM

Hi Matthew, you can send an email to Jerome[at]ceditalk[dot]com

Matthew Dadzie
OCTOBER 18, 2017 AT 9:23 PM

Thank you Sir

Isaac
OCTOBER 23, 2017 AT 9:06 PM

Pls this is Isaac.pls how much can I earn on T-Bill at ghc1000 for 91
days?

Jerome Kuseh
OCTOBER 24, 2017 AT 8:19 AM

At the current interest rate of about 13%, GHS1,000 will earn

GHS32.50 in 91 days.

ALFRED
OCTOBER 25, 2017 AT 11:24 AM

Hi Mr. Kuseh,

Please what’s is the minimum amount for xed deposits, for how long should the
funds be kept for maturity and which institutions offer higher rates (if you could
please use a gure as an example to workout interest to be earned on maturity)?
Thank you

Jerome Kuseh
OCTOBER 25, 2017 AT 11:31 AM

Fixed deposits usually start from about GHS2,000. Interest rates and
the minimum usually depend on the institution so do check with banks and other
nancial institution.

Harold
OCTOBER 26, 2017 AT 8:44 AM

Hello Jerome,

Thanks for this enlightening lessons.

Apart from Government T-Bills, is there any bank or MFI that offers more than 13%
(say up to 20% or more) interest rate on long-term xed (2 to 5yrs) deposit?

Thanks
Harold AD

Jerome Kuseh
OCTOBER 26, 2017 AT 11:03 AM

To be fair to other nancial rms, I do not like to mention names. But

try non-bank nancial institutions, they usually offer higher rates

Etienne
NOVEMBER 3, 2018 AT 11:41 PM

What are non-bank nancial institutions

Jerome Kuseh
NOVEMBER 18, 2018 AT 5:34 PM

All nancial institutions regulated by the BoG that are not

banks. Includes nance houses, savings and loans, and micro nance
institutions.

Kwesi Dagadu
APRIL 5, 2019 AT 10:13 AM

Hi mr jerome that you for the explanation,please can I talk to the

bank for more interest rates?example if I invest more than 300,000Gh for 1 year
or more,can they give me more than BoG rate? Thanks.

Jerome Kuseh
APRIL 24, 2019 AT 5:30 PM

Hello Kwesi, that can be done with a xed deposit not treasury
bills.

Harold
OCTOBER 26, 2017 AT 8:50 AM

Sorry I forgot to ask this: Is there any bank or MFI in Ghana that offers
compound interest rate on xed deposits (with monthly contributions)?

Edward
NOVEMBER 17, 2017 AT 5:46 PM

So u are telling us that if u invest 1,000 ghc ur interest is only 32.50 ghc
what is that can u please work the percentage for one investing in t bill for one year
for 4, 000 ghc what will be my interest
Thanks

Jerome Kuseh
NOVEMBER 18, 2017 AT 12:30 AM

For GHS1,000 for one year you will earn about GHS130, the GHS32.50
is for 3 months. With GHS4,000 you will earn about GHS130 in 3 months and about
GHS520 in a year.

Davies
DECEMBER 1, 2017 AT 5:28 AM

Hello boss, you are a blessing to this generation. Pls keep it up.

I want to save GH¢500 every month for the next 1 year. What will be the best advice
to go by this. I need to invest. Pls advice me.

Pls some calculations will be helpful

Davies from Accra

Jerome Kuseh
DECEMBER 1, 2017 AT 7:21 PM

Hello Davies, the easiest way is to request that your banker deducts
GH¢500 each month to be deposited into an investment – say treasury bill, xed
deposit or mutual fund. The best choice depends on if you plan to withdraw the
money after the year is done or you plan to leave it there. Know that T-bills is
usually best for the short-term especially when you need to be able to withdraw the
money at anytime. Fixed deposits pay higher interest but you may not have ready
access to your money and consider mutual funds only if you are thinking long-
term. The choice depends on what your nancial goals are. Good luck!

Louisa
DECEMBER 14, 2017 AT 8:20 AM

Hi Jerome, good write up. I found it very useful

However, I have two questions:

1. How are the t bills calculations made? I used the 13% rate you gave as at October to
calculate for a return on 1,000 gh for 3 months but i didnt get 32.50gh. i rather arrived
at an interest of 130 gh. Can you kindly clarify that for me?

2. How are interest on t bills calculated? Is it done using the rate at the time of
purchase or rates at the day of maturity?

Thank you.

Jerome Kuseh
DECEMBER 14, 2017 AT 8:23 AM

Hello Louisa, 13% is an annual rate. Therefore if you invest for 3

months you only get (3/12 * 13%). The rate at the time of purchase is used. But
keep in mind that it will be rolled over after the 3 months (if you choose not to
withdraw) at the prevailing rate.

Qbelet
DECEMBER 14, 2017 AT 5:30 PM

Please what’s is the minimum amount for xed deposits, for how long
should the funds be kept for maturity and which institutions offer higher rates (if you
could please use a gure as an example to workout interest to be earned on
maturity)? Thank you

Jerome Kuseh
DECEMBER 23, 2017 AT 6:25 AM

The minimum is usually GHS2,000. Most institutions offer 91-days,

182-days, 1 year and 2 years. Interest ranges from 13-25% depending on the
amount and institution.

Patrick
DECEMBER 23, 2017 AT 6:07 PM

Please you say the interest rates range from “13-25% depending on the
amount and institution “? As in the more money invested the higher the interest? Pls
explain further

Jerome Kuseh
DECEMBER 24, 2017 AT 11:07 AM

Some nancial institutions will offer you higher interest rates for
larger deposits. Remember this is with regards to xed deposits not treasury bills

Yaw
DECEMBER 26, 2017 AT 6:43 PM

Please how do you calculate the interest rate for tbills? For
example 91 days 13% rate of 1000cedis investment, how much will that be after
the 91 days please? ..Thanks

Yaw
DECEMBER 26, 2017 AT 6:55 PM

Sorry please delete me recent question, cant seem to delete it

myself.. just saw your explanation above. Sorry once again

Quophy
JANUARY 2, 2018 AT 3:51 PM

Please I heard Ecobank is in partnership with MTN mobile mobile

treasury bill.. What interest will I get when I buy it 100Gh for 182 days.???

Jerome Kuseh
JANUARY 8, 2018 AT 8:21 AM

You’ll get about ¢7

OkuJet
JANUARY 2, 2018 AT 3:57 PM

Great site for all who have problem with nancial discipline.
Thanks Mr Jerome Kusey.
Am grateful for your education

Jerome Kuseh
JANUARY 8, 2018 AT 8:29 AM

Thanks for reading

Kim
JANUARY 6, 2018 AT 12:13 AM

Mr Jerome Kusey thanks for ur excellence job but want to get contact
with u

Jerome Kuseh
JANUARY 8, 2018 AT 8:28 AM

Send an email to Jerome(@)ceditalk(.)com

Je
FEBRUARY 19, 2018 AT 1:56 PM

Hi sir at gcb are rates same for both xed deposit and treasury bills?

Jerome Kuseh
FEBRUARY 20, 2018 AT 10:32 PM

I do not know about GCB speci cally but it’s unlikely for xed
deposits and t-bills rates to be the same. Fixed deposits are usually a bit higher

MIchael taadi
JANUARY 6, 2018 AT 8:38 AM

Sir what is the GoB bill rate? What does it mean? I am Michael from
takoradi

Jerome Kuseh
JANUARY 8, 2018 AT 8:27 AM

Do you mean the t-bill rate? It’s the interest you earn for lending to
the govt short-term?

Rash14
JANUARY 19, 2018 AT 8:46 AM

Hello Jerome, am Rashad I have this cool Ghc5000 I was want to invest
for a year.. tbills or xed deposit, which do you recommend…is xed deposit as risk
free as tbills?

Jerome Kuseh
JANUARY 19, 2018 AT 9:02 AM

Hello Rashad, t-bills are risk free. The risk level of xed deposits
depends on the institution you save it with. Fixed deposits usually offer higher
interest rates. Your choice depends on your risk tolerance. If you’re ready to bear
the risk then you should go for xed deposits with a reputable institution. However,
if your goal is rst to protect your capital, then go for t-bills.

Rash14
JANUARY 19, 2018 AT 9:55 AM

Thanks for your wisdom Jerome

Ofori
FEBRUARY 1, 2018 AT 5:37 AM

Hello Jerome, God bless you for serving your generation. Please I want
to ask if one has purchased let’s say ghc 1,000 t bill and it’s not up to maturity please
can he or she purchase another if they wish to? Thank you

Jerome Kuseh
FEBRUARY 1, 2018 AT 9:47 AM

Yes Ofori. You can always purchase more but they will be treated as
separate investments.

Farida Wayo
FEBRUARY 1, 2018 AT 5:03 PM

Is it better to buy your treasury bill from NTHC or a bank?

Jerome Kuseh
FEBRUARY 1, 2018 AT 7:57 PM

Treasury bills usually don’t depend on where you buy them because
you’re essentially buying from the govt. Just be sure it’s an institution of some
repute you’re buying from

kwame
FEBRUARY 4, 2018 AT 2:17 PM

Hello Jerome, I am in the US, can I let some one in Ghana purchase the
T- bill for me and I access my accounts on line?

Jerome Kuseh
FEBRUARY 4, 2018 AT 3:07 PM

Hi Kwame, it depends on the services provided by the nancial

institution. Have whoever is buying for you ask whether you can get statements
online

kwame
FEBRUARY 4, 2018 AT 2:33 PM

hello again, I am kwame from the US. Can you please calculate the
interest on $1000 for 182 days T-bill for one year?

Jerome Kuseh
FEBRUARY 4, 2018 AT 3:06 PM

Assuming an exchange rate of 4.4 your interest will be approximately

¢590

kwame
FEBRUARY 4, 2018 AT 3:33 PM

thank a lot for your answer

Amber
FEBRUARY 5, 2018 AT 1:21 AM

My husbands father has passed and he was from Ghana. We are told he
has a treasure bond there and we are wondering how to nd out this information?
Thank you!

Jerome Kuseh
FEBRUARY 5, 2018 AT 10:08 PM

Hi Amber. You’ll have to nd out which institution he bought it from.

It is also likely that he stated a next of kin on the investment. The institution
should be able to get you that information if you go with the right documents.

Agbasi George
JUNE 5, 2018 AT 10:15 PM

Hi sir, can i buy t bill with Ghc1000 ?

Jerome Kuseh
JUNE 10, 2018 AT 8:40 PM

Yes you can

asdfasdf
FEBRUARY 14, 2018 AT 4:15 PM

Very god article. Keep up the good work !

bernice
FEBRUARY 20, 2018 AT 10:11 PM

Please what will my interest be on GHC10,000

Jerome Kuseh
FEBRUARY 20, 2018 AT 10:30 PM

You’ll make about 1,300 in a year at the current rate

charles oppong snr

FEBRUARY 28, 2018 AT 7:03 PM

can u do partial withdrawal on your T- bill and what will interest on

your returns

Jerome Kuseh
FEBRUARY 28, 2018 AT 10:13 PM

I don’t think partial withdrawal is generally possible but it could

depend on the particular nancial institution you are dealing with

kobby
MARCH 1, 2018 AT 8:56 AM

how much do i make if i buy treasury bills of ghc1000 for three months

Jerome Kuseh
MARCH 1, 2018 AT 6:38 PM

You will make about GHS33 in 3 months

Britwum Ebenezer
MARCH 2, 2018 AT 5:23 AM

Pls I purchase tbill on January with ghc10000 how am I going tu get for
91 days.

Prince
MARCH 3, 2018 AT 8:06 AM

If the rate is 13% for a year, then you get Ghc11300 at the end of the
year. That is 13% multiplied by Ghc10000. so its 0.13 times Ghc10000 which will give
you Ghc11300. meaning a pro t of Ghc 1300.

But if the rate is 13% for 91 days,

then its 0.13 times Ghc10,000. you get Ghc1300 for the 91 days as pro t. Meaning you
get roughly Ghc 433.33 monthly.

I may be wrong, but it suggests that, the higher you invest in the TBills, the more you
pro t, though small.

Anyway its better than let your money earning nothing on you deposit as it is the
case for most of us.

Jerome Kuseh
MARCH 3, 2018 AT 2:20 PM

The return is 13% per year

Prince
MARCH 3, 2018 AT 8:16 AM

My question is that sometimes am confused with the rate whether for

3months or annual . It is often stated as a 91 day bill but usually not per annum or
annual. For example below

Bill Rate %

91 Day Bill 13.3412

182 Day Bill 13.8933

As it is as above, a TBILL for 91 days interest rate is 13.34%, am I correct? Or the

13.34% for 91 day should be taken as annual rate even though it is stated 91 day rate?

Jerome Kuseh
MARCH 3, 2018 AT 2:22 PM

The interest rate is for the year, not 91 days. I think the BoG can do a
better job of presenting this to the average reader

Hafsa
MARCH 5, 2018 AT 6:31 PM

Please if you buy a treasury bill for a period of 3 months and want to
withdraw all (that IS both your interest and principal ) at any point in time when you
have choosen it to be rolledover without interest.Could that be possible?

Jerome Kuseh
MARCH 6, 2018 AT 10:43 AM

Yes it should be. Do ask your nancial institution if you will be able to
withdraw before maturity

larry
MARCH 8, 2018 AT 1:32 PM

tc buy a taxi or tro tro or t bill advice pls

Jerome Kuseh
MARCH 9, 2018 AT 12:40 PM

Sorry, Larry. The outcome from the transport business cannot easily
be determined. Too many factors come into play

Augustine
MAY 10, 2019 AT 3:47 PM

Plz, I’m Augustine, can I withdraw my T- Bills money anytime I

wish once the estimated time or period has not reached it peak? Let’s say 91 days
and the maturity date has not been reached. Also can I go for statement after 1
month

Jerome Kuseh
MAY 10, 2019 AT 6:25 PM

Yes, you should be able to withdraw before maturity. But talk to

your nancial institution if they allow this before you purchase.

Dev
MARCH 9, 2018 AT 11:24 AM

Hi jerome.please at the current rate.if I want to invest like 100000ghs

for one yr.what will be my interest?

Jerome Kuseh
MARCH 9, 2018 AT 12:40 PM

¢13,000

Brobbey
MARCH 10, 2018 AT 10:48 AM

Please what is the interest rate as it stands now

Jerome Kuseh
MARCH 10, 2018 AT 10:56 AM

91-day rate at 13.37% and 182-day rate at 13.89%

gettheknowlegde
MARCH 18, 2018 AT 10:39 AM

Hi Jerome I had 2 questions. My family is Ghanaian but I have only a

USA passport. Does Ghana report the earnings to the US government. if so if I get my
permanent resident card they will not notify the US government about my
investments?

Also what is the difference between a xed deposit from the bank of Ghana and a T-
bill from the Bank of Ghana? Is the Bank a part of the government?

gettheknowlegde
MARCH 18, 2018 AT 11:01 AM

Hi Jerome

What is the difference of a discount rate and interest rate? They list both on here but
I hear them use them interchangeably which confuses me.
The Discount Rate Interest Rate
91 – Day is 12.9176% 13.3487%
182 – Day 12.9792% 13.8800%

Julius
MARCH 30, 2018 AT 2:48 AM

Please how can I cancel my treasury bill if it’s not bought yet

Jerome Kuseh
MARCH 30, 2018 AT 4:27 AM

Call the nancial institution you made the order at to reverse it for
you

Julius
MARCH 30, 2018 AT 2:57 AM

Can I cancel my Treasury bill if it’s not yet purchased yet

Julius
MARCH 30, 2018 AT 5:16 PM

But what of if it’s has already been purchased can I still Cancel it??

Jerome Kuseh
MARCH 30, 2018 AT 7:06 PM

It depends on the institution but I think it should be possible

Riches Avevor
APRIL 2, 2018 AT 5:30 PM

Please when I invest Ghs 8000 into T bill for 3 months. What will be the
interest

Jerome Kuseh
APRIL 4, 2018 AT 7:28 PM

For 3 months you’ll make about ¢266 interest

Sammy
APRIL 6, 2018 AT 8:59 AM

Please is it possible for me to buy treasury bill in Ghana stock exchange

Naa Kowah
APRIL 9, 2018 AT 9:55 AM

Hi, I just came across this site from google. I will like to know how
capital and interest will be calculated if I invest an amount, say 1000ghc in treasury
bill and request the bank to roll over capital n interest for a period of one year. Thank
you

Jerome Kuseh
APRIL 9, 2018 AT 12:37 PM

Your balance at the end of the year if you buy a 91-day T-bill and roll-
over 4 times will be about GHS1,140.00

Khadman
APRIL 19, 2018 AT 9:30 PM

Thank you so much. It helped a lot.

And like you said, it bothers some people to do something that everybody’s doing.
And so I was wondering if you could shed some more light on some other investment
avenues.

Jerome Kuseh
APRIL 22, 2018 AT 5:07 PM

I wrote about xed deposits here –

http://www.ceditalk.com/2017/06/guide-to-investing-in- xed-deposits-in-ghana/
and mutual funds here http://www.ceditalk.com/2017/06/guide-to-investing-in-
mutual-funds-in-ghana/

gbeku eunice
APRIL 24, 2018 AT 4:49 PM

Please how much would be my interest if I use 1,000 to buy T-bill for 3
months?

Thank you.

Jerome Kuseh
APRIL 27, 2018 AT 11:59 AM

About GHS33. You’ll make about GHS130 if you keep it for a year.

prucompedem@gmail.com
APRIL 25, 2018 AT 7:14 PM

good job man…BUT ALL I SEE IS SCARED PEOPLE HERE…GET A JOB

THAT PAYS YOU A LOT…AND HAVE FINANCIAL FREEDOMMMMMM

Riches Avevor
APRIL 28, 2018 AT 7:03 PM

Please when investing Ghs 8000 into treasury bill for one year , how
much would be the interest

Desmond
MAY 9, 2018 AT 7:19 PM

Is there any receipt after buying treasure bill?

Jerome Kuseh
MAY 15, 2018 AT 6:19 AM

It depends on where you buy. Usually if it’s at a bank you save in and
you’re requesting they take your money from the account, you usually don’t get a
receipt. But you can ask for it

Nana Dockn
MAY 15, 2018 AT 7:11 PM

What will be my earning for a trill of 250gh every month for 6months

Philippa
MAY 17, 2018 AT 6:01 AM

Hi , this is Love… I have requested ma bank to invest Gh1500 from ma

account to tbills n I chose interest n Principal rolled over annually but pls does it
mean I in every 91 days the rolling over will done until a year? Cus I thought of it n
wanted to change that option to every three months. Pls what should I do

Jerome Kuseh
MAY 21, 2018 AT 7:25 PM

It will be rolled over every 91-days continuously until you tell them to
stop

Dadie Kwasichie
MAY 31, 2018 AT 3:54 PM

Hi, Mr Jerome please can you tell me something small about bonds

Jerome Kuseh
JUNE 10, 2018 AT 8:40 PM

Hi Dadie, bonds pay a xed return each month until maturity. You can
buy some government of Ghana bonds through a bank or broker

John
JUNE 7, 2018 AT 11:57 PM

Hello Jerome, can I discount a 365 days treasury bill initiated by the
defunct UT bank ?

Jerome Kuseh
JUNE 10, 2018 AT 8:41 PM

I believe it would have been transferred to GCB. Kindly enquire there

Bedzra Michael
JULY 9, 2018 AT 10:20 PM

How often can you buy treasury bills in a month??

Jerome Kuseh
JULY 9, 2018 AT 10:23 PM

I don’t think there’s a limit

Stanley Addo Mensah

JULY 10, 2018 AT 10:41 PM

Hi kuseh, please if I buy a t-bill with a face value of 2000ghc for 1year.
What would be my interest? Please kindly show me the formulae for calculating t-bill
interest.
Thanks

Emmanuel Oppong Asante

JULY 24, 2018 AT 11:20 AM

hi please I went in for. A loan of 5000 to use it for my distance course for
2years and at the same time I want to invest the money so that the returns or pro t
will be used to cater for my school . Please advice me on the best investment
opportunity for me as family man. Thank you

Jerome Kuseh
AUGUST 1, 2018 AT 9:03 PM

What is the interest rate on your loan?

Cyber
AUGUST 6, 2018 AT 5:36 PM

Hello Jerome, I want to begin a xed deposit investment. Can you kindly
email me some reputable institutions that offer competitive rates? Thanks!

Jerome Kuseh
AUGUST 8, 2018 AT 8:44 AM

Hello, e-mail me at Jerome@ceditalk.com

Lawrence Appiah kubi

AUGUST 28, 2018 AT 11:01 PM

Please how much would be my interest if I use 10,000 to buy T-bill for 3
months?

Thank you.

Jerome Kuseh
AUGUST 29, 2018 AT 7:02 PM

Based on the interest rate of 13.3264%, you will make about

GHS333.16 in 3 months

Lawrence Appiah kubi

AUGUST 28, 2018 AT 11:20 PM

Please how much would be my interest if I use 10,000 to buy T-bill for 1
year?

Thank you.

Lawrence Appiah kubi

AUGUST 29, 2018 AT 3:52 PM

Please how much would be my interest if I use 10,000 to buy T-bill for 3
months?

Thank you.

Prince
AUGUST 30, 2018 AT 11:23 AM

Please how much will I get if I buy it 100cedis for three months

Egyapa
SEPTEMBER 25, 2018 AT 8:17 AM

Hi Jerome.I want to terminate my 20,000 GHC t-bill 3months but I want

to know how long it will take for them to credit the funds into my account.

Jerome Kuseh
SEPTEMBER 25, 2018 AT 8:22 AM

Hello Egyapa, that depends on your nancial institution. Kindly talk

to them

Lawrence Appiah kubi

SEPTEMBER 27, 2018 AT 8:14 PM

Please what is the advice can you give me on mensgold……when i invest

there?

Jerome Kuseh
SEPTEMBER 28, 2018 AT 9:23 AM

The SEC/BoG has made it clear that Menzgold can only buy and sell
gold. That is all you should do there, not expecting monthly returns.

RAEKWON
OCTOBER 17, 2018 AT 7:07 PM

Very Informative.

RAEKWON
OCTOBER 17, 2018 AT 7:14 PM

Please. What would be the pros and cons of investing In a 182 vs

1yr T-Bill? I would like to invest $100,000 USD. Current rates: 182 days
=14.3175% 1yr + 15.0000%. My plan would be to leave the money for full
maturity.

Jerome Kuseh
OCTOBER 24, 2018 AT 6:27 AM

With the 182-day bill at 14.4002%, you’ll make 14,918.61 if

you leave the investment for 1 full year. You’ll make 15,000 if you buy the 1
year note so that is a better option. However, you’ll have to convert your
funds to cedis in order to purchase these.

Yusif
OCTOBER 18, 2018 AT 1:58 PM

Please sir I asked at my bank and the lady said the interest rate is 14.2
on the t bill. So please help me calculate how much am to earn. I purchased a T bill of
3,000 for 182 days. Thank you. Yusif Accra

Jerome Kuseh
OCTOBER 24, 2018 AT 6:21 AM

In 182 days you’ll make about GH¢213

ATARIGE MOSES
OCTOBER 22, 2018 AT 2:55 PM

plz i have GH3000 n want to buy Tbill for 182 days how much will be my
interest?

Jerome Kuseh
OCTOBER 24, 2018 AT 6:28 AM

In 182 days the interest would be about GH¢213

Emmanuel
NOVEMBER 21, 2018 AT 10:45 PM

Sir please will I get my entire principal back when I want to cancel my t
bill after some period of time?

Jerome Kuseh
NOVEMBER 24, 2018 AT 4:02 PM

You’ll get your principal and any accumulated interest

John
NOVEMBER 23, 2018 AT 1:22 PM

Please are returns on T-Bills accrued daily or at maturity?

Jerome Kuseh
NOVEMBER 24, 2018 AT 4:03 PM

At maturity, but if you want to withdraw before then you will get your
pro-rated interest.

Patrick Akeleye
DECEMBER 11, 2018 AT 1:09 AM

How much will I earned if I invest an amount of 30,000 on a treasury bill

for 91 days,thank you.

Jerome Kuseh
DECEMBER 11, 2018 AT 1:55 PM

At about 14.5%, you would make GHS1,087.50 in 91 days

John Kingsly
JANUARY 7, 2019 AT 12:09 PM

Thank you for a great article. I found an app today that could do these
calculations for free; maybe you all could try it. It is called the Treasury Bill
calculator. The link to the app is: https://play.google.com/store/apps/details?
id=billcalculator.treasury.com.treasurybillcalculator

Babuu Dalaa Baga

FEBRUARY 5, 2019 AT 7:49 AM

Thanks a lot Jerome for your piece. You actually solved part of my
problem.
But does it mean that the faith of your income does not depend on the bank you are
investing with since treasury bills are given by the government through the banks.
Supposing the bank collapse is your money safe or not. And if it is safe, how do
retrieve your investment.

Prince Vanson
FEBRUARY 8, 2019 AT 9:26 PM

Hello sir please can you differentiate between a 91 or 182 days tbill or
FD and their interest rate when I invest about 3000ghc

General x
APRIL 18, 2019 AT 8:23 PM

Hello Sir, Am much grateful to be on this site. I am a young man and i

want to start some investment for the next ve years with Ghc 10,000 , Can kindly tell
me if i invest by Fixed deposit how much will i earn for a year so that i can rollover to
5 years period . Thanks Boss. Your advice is really needed urgently

Jerome Kuseh
APRIL 24, 2019 AT 5:28 PM

Hello, xed deposit rates depend on the institution you’re investing

in.

Prince
MAY 8, 2019 AT 9:42 AM

Hi.. Sir am Prince, please i want to know the interest rate of t-bill
for 365 days..

Jerome Kuseh
MAY 10, 2019 AT 6:25 PM

It’s about 18%

Kwame Owusu
AUGUST 23, 2019 AT 12:43 PM

Hi …sir
I bought a t bill 2months ago and I want to terminate it.
I want to know what would happen to my interest

Enoch Kyere
SEPTEMBER 6, 2019 AT 6:53 AM

Hi Jerome!
I am glad you are here.
Please what happens if I buy Treasury Bill and my nancial institution collapses?
Will I still be able to get my investment back with the interest from Bank of Ghana
through a different bank?

Enoch Kyere
SEPTEMBER 6, 2019 AT 7:07 AM

Hi Jerome!
I am glad you are here.
Please what happens if I buy Treasury Bill and my nancial institution collapses?
Will I still be able to get my investment back with the interest from Bank of Ghana
through a different bank?

Jerome Kuseh
SEPTEMBER 11, 2019 AT 7:53 PM

Yes you would

Ko Agyin
OCTOBER 22, 2019 AT 4:53 PM

Hi Jerome, how long does it normally take for my bank to sell my

treasury bills? I bought some t-bills through GCB recently but I have asked them to
rediscount my bills before they mature and send the proceeds to my account in the
US. It’s been more than one week and I’m being told they’re still waiting for approval
of my request. I’m afraid I’m going to miss out on some urgent investment here. The
pace of business in Ghana is toll slow. My banker in Ghana does not respond to phone
calls and text messages. Frustrating!

Jerome Kuseh
NOVEMBER 11, 2019 AT 6:39 PM

Hello Ko , has this been sorted out yet? The pace of rediscounting
depends a lot on the particular bank.

John Gyingyi
NOVEMBER 14, 2019 AT 3:54 PM

Hi Jerome
Please assume I bought 365 T bill at 17%. If next month the interest rate falls to 16%,
would my investment be affected? Would the 17% stand till maturity date or it would
change to 16%?

Jerome Kuseh
NOVEMBER 22, 2019 AT 4:44 PM

No it wouldn’t. The rate remains the same for the term of the
investment.

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