RBI Retail Direct: How to Buy T-Bills and Skip the Bank FD

RBI Retail Direct lets you buy government T-Bills and bonds directly — no broker, no commission, no account fees.

T-Bills come in 91, 182 and 364-day tenors, sold at a discount with full face value paid at maturity.

Minimum ticket is about ₹10,000; returns carry a full sovereign guarantee with effectively zero credit risk.

Non-competitive bidding means small investors get the auction's cut-off yield automatically — no guesswork.

Best for parking lump sums you'll need in under a year; sell early on NDS-OM but liquidity can be thin.