Treasury Bonds: How To Buy
You can buy Treasury bonds directly from the U.S. Treasury or through a bank, broker, or dealer.
Buying Directly From the U.S. Treasury
To buy Treasury bonds directly from us, you must have an account in TreasuryDirect. "Open An Account."
By bidding for a bond in TreasuryDirect, you:
- Agree to accept whatever yield is determined at auction
- Are guaranteed to receive the bond you want, in the amount you want
(This is called noncompetitive bidding.)
Submit a Bid in TreasuryDirect
The bid submission process in TreasuryDirect is completely online. Login to your account and click the BuyDirect® tab. Follow the prompts to specify the security you want, the purchase amount, and other requested information.
You also can set up reinvestments into securities of the same type and term. For instance, you can use the proceeds from a maturing 30-year bond to buy another 30-year bond.
Payments and Receipts in TreasuryDirect
The price that you pay for a bond can include either a premium or a discount, and accrued interest. For a full discussion of the price of a security, see Treasury Bonds: Rates and Terms.
When you buy a bond in TreasuryDirect, we withdraw the purchase price from the source of funds that you specify, which could be one of your bank accounts or your Certificate of Indebtedness (C of I). When the bond matures, we deposit payments into your bank account or your C of I, whichever you specify.
Buying Through a Bank, Broker, or Dealer
Banks, brokers, and dealers offer two types of bidding for bonds:
You specify the yield you will accept.
Depending on what yield is determined at the auction, you may or may not receive the bond you want, and if you receive it, you may receive it in less than the amount you want.
You agree to accept whatever yield is determined at auction.
You are guaranteed to receive the bond you want, in the amount you want.
For more information consult a bank, broker, or dealer.