Where to buy Treasuries: TreasuryDirect vs. a brokerage

Once you've decided a Treasury is the right home for some cash, the next question is where to buy it. There are two main routes, and the better one depends on how hands-on you want to be.

TreasuryDirect

TreasuryDirect is the U.S. Treasury's own website. You buy bills, notes, bonds, and I-Bonds directly, with no fees and no middleman. It's the only place to buy I-Bonds electronically. The trade-off: the interface is dated, and selling before maturity is awkward — it's built for buy-and-hold.

A brokerage account

• Most major brokerages let you buy new-issue Treasuries at auction for free, the same price as TreasuryDirect.
• They also offer a secondary market, so you can sell before maturity if you need the cash — handy for a ladder.
• Everything sits alongside your other holdings, which simplifies tracking and tax forms.
• I-Bonds are the exception: those still come from TreasuryDirect, not a brokerage.

Which to pick

If you want I-Bonds, or prefer dealing with the government directly, use TreasuryDirect. If you value liquidity, consolidated statements, and an easier interface — and you're building a ladder you might adjust — a brokerage is usually smoother. Many people use both: TreasuryDirect for I-Bonds, a brokerage for everything else.

Tbillery tracks the rates, not the brokers — always confirm the live yield and any account terms with your provider before buying.

Build a CD/Treasury ladder around current rates.

Updated July 2026