Help me out here regarding T-bills.
So I purchased a 91Day T-bill this week for 10k rs(100units) for a indicative yield of 6.85% which I assumed to be yield for 91 days. They deducted some 10krs and 10.6rs(net banking charges ig). Today I got the allotment of units and the its showing(avg price: 98.35) and amount:9835.10 and some 158rs got back into my account.
I want to know that this 6.85% was not the yield for 91 days? Also how much amount will I get after it matures?
You will get 10k back in 91 days. 6.85% is Annual return.
If it was everybody would put their money here. It will be more than 25 percent per annum.
6.85percent is annualised rate.
If it was govt would have introduced 80% tax with de-indexation on your capital so you get -ve returns adjusting inflation.
#IndexationandLTGTremoved!