ManyaGuide How to buy Treasury bills and bonds in Uganda (from UGX 100,000)
Open a bank account and a CSD account at the bank, then bid from UGX 100,000. 2-year bond paid 16% (28 Oct 2026).
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Government Treasury bills (T-bills) and Treasury bonds are among the safest investments in Uganda – and after the October 2026 rate hike, they pay some of the highest returns in years. You can start with UGX 100,000.
T-bills vs bonds
| Treasury bills | Treasury bonds | |
|---|---|---|
| Term | 91, 182 or 364 days | 2 to 25 years |
| How you earn | Bought at a discount, paid full value at maturity | Interest (coupon) every 6 months |
| Auctions | About every 2 weeks (Wednesdays) | About monthly |
| Minimum | UGX 100,000 | UGX 100,000 |
Latest yields
- T-bills (8 April 2026): 91-day 10.38%, 182-day 11.30%, 364-day 12.25%.
- After the October 2026 CBR hike, yields jumped: the 2-year bond cleared at 16% on 28 October 2026 (up from 12% a month earlier), and the 25-year bond at 18.5%.
Latest results are published on bou.or.ug after each auction.
How to buy T-bills and bonds – step by step
- Open a bank account with a bank that is a primary dealer (e.g. Stanbic, dfcu, Absa, Standard Chartered, Housing Finance, DTB, Centenary). Bring your National ID and TIN.
- Open a Central Securities Depository (CSD) account. Fill in the CSD form at the bank; it is opened on the Bank of Uganda system. This is where your securities are held.
- Place a bid before the auction day:
- Non-competitive bid: you accept the average rate (best for beginners).
- Competitive bid: you state the rate you want – you may miss out if it's too high.
- Pay. If successful, the bank debits your account and the securities appear in your CSD account.
- Get paid at maturity (T-bills) or every 6 months (bonds), straight to your bank account.
Some banks (e.g. Housing Finance, dfcu, DTB) let you bid online after opening the CSD account at a branch.
Tax
Interest is subject to withholding tax – usually 15%, (20% on some longer bonds).
Frequently asked questions
What is the minimum amount for Treasury bills in Uganda?
UGX 100,000, in multiples of UGX 100,000.
Can I sell a Treasury bond before it matures?
Yes, on the secondary market through your bank, but the price depends on market rates at the time.
Fees and codes change. Spotted something out of date? Tell us.