The interest element of T-Bills is paid to you upfront and credited to your bank account. For example, if you purchase a N100,000.00 T-Bills with an interest rate of 10 per cent, your account is debited with N90,000.00. As such, your N10,000.00 interest is paid up front. Upon maturity, you are paid the full/ “face value” N100,000.00. The upfront payment of your interest makes your true yield actually higher.