If you are looking to park cash for the short term, Treasury Bills (T-Bills) are a good alternative to bank fixed deposits.

On shorter tenures (91 and 182 days), T-Bills typically offer higher yields than matching bank FDs.

You can invest in T-Bills directly on Kite under Bids > Govt. Securities. The bidding window is open every week on Monday and Tuesday.

Here is a quick breakdown of how T-Bills work:

T-Bills are issued by the RBI on behalf of the Government of India.

Unlike bonds, which pay periodic interest, T-Bills are issued at a discount and redeemed at face value (₹100) on maturity. The difference is your return.

For example, if you buy a T-Bill at a discounted price of ₹98, you receive the full ₹100 at maturity. The ₹2 difference is what you earn.

If you trade in the markets, you can also pledge 182-day and 364-day T-Bills for collateral margin and are considered cash-equivalent.