Learn More About Auction Process
TreasuryDirect offers you the opportunity to purchase Bills, Notes, Bonds, and TIPS through your secure, online account. TreasuryDirect accepts only noncompetitive bids for these securities. A noncompetitive bid simply means you’re willing to accept the rate set at auction by the competitive bidding. It guarantees you’ll get the full amount of the security you want at the rate or yield determined at the auction.
To participate in an auction, go to view recent auction results to see a Tentative Auction Schedule of U.S. Treasury Securities. You don't even need to wait for an official auction announcement from Treasury. TreasuryDirect automatically assigns your purchase dates according to the next available auction date on the calendar. To schedule your security purchases, go to Buy Direct for Bills, Notes, Bonds, and TIPS and enter your purchase information and frequency. Select the Source of Funds for your purchases as your designated financial institution or your Zero-Percent C of I. For added flexibility, you may choose different payment destinations for your maturity and interest (if applicable) payments, too.
Bids for purchases must be submitted prior to the auction day cut-off time. Just verify that you have placed your bid for the appropriate auction by checking the date(s) listed on your Purchase Review and/or Purchase Confirmation. Securities are generally issued to your account within one week of the auction date.