South Africa Treasury bills · auction of 15 May 2015
South Africa T-bill auction, 15 May 2015: 364-day at 5.92%, up 3 bps
At the Treasury bill auction dated 15 May 2015, the South African Reserve Bank cleared the 91-day bill at 5.70% (down 7 basis points), the 182-day bill at 5.86% (down 2 basis points) and the 364-day bill at 5.92% (up 3 basis points). The rate shown is the average rate at which bills are allotted in the weekly auction.
Over the past year the 364-day rate has ranged from 5.79% to 6.32%.
A year earlier the 364-day bill cleared at 6.16%, so the government is paying 24 basis points less than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 5,920 in 12 months on the 364-day bill
Put ZAR 100,000 into the 364-day bill at this auction and you get back ZAR 105,920 after 12 months: ZAR 5,920 in interest before any withholding tax, about ZAR 493 a month.
That is ZAR 30 more than the same money would have earned at the previous auction.
For shorter money: ZAR 2,930 on the 182-day bill (6 months), ZAR 1,425 on the 91-day bill (3 months).
The government pays the full amount at maturity; the risk is South Africa’s government not paying, and the money is locked until then.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 5.700% | 5.770% | — | — | — |
| 182-day | 5.860% | 5.880% | — | — | — |
| 364-day | 5.920% | 5.890% | — | — | — |
Source: South African Reserve Bank result · average rate at which bills are allotted in the weekly auction
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Afronomics (2026). South Africa Treasury bill auction, 15 May 2015, compiled from the South African Reserve Bank. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2015-05-15
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