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. (We no longer sell bonds in Legacy Treasury Direct.) To open an account in TreasuryDirect, go to "Open An Account" and supply the requested information.

Effective April 2009, TreasuryDirect permits accounts for both individuals and various types of entities including trusts, estates, corporations, partnerships, etc. See Learn More about Entity Accounts for full information on the new registration types.

Decide How To Bid

You can enter either a noncompetitive bid or a competitive bid.

With a noncompetitive bid, you agree to accept whatever yield is determined at auction. If you bid this way, you are guaranteed to receive the security you want, in the amount you want.

With a competitive bid, you specify the yield you will accept. If you bid this way, you may or may not receive the security you want, and, if you receive it, you may receive it in less than the amount you want. You cannot place a competitive bid directly with us. To bid competitively, you must use a bank, broker, or dealer.

Submit a Bid

The bid submission process in TreasuryDirect is completely online. Login to your account and from the "My Accounts" page, click on the BuyDirect_SM tab, select Bonds, enter the amount you want, the purchase date and the other items requested. Follow the prompts to complete your transaction. The date that the security is issued will be based on the next auction date for the security.

From the BuyDirect_SM page, you can set up recurring purchases of securities for up to five years.

From the "My Accounts" page, you can also quickly purchase a security using Purchase Express. With this functionality, you select the type of security and the purchase amount. The system uses the original registration you entered when you set up your account and your primary bank account, and then schedules your purchase for the next available auction date.

Payments and Receipts

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 Treasury Direct, 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). We deposit payments into your bank account or your C of I, whichever you specify.

Buying Through a Bank, Broker, or Dealer

To place a competitive bid, you must use a bank, broker, or dealer. You also can bid noncompetitively using a bank, broker, or dealer. For more information consult a bank, broker, or dealer.