Interest earned is tax free in the name of an individual.
Instruments are traded on a discounted basis.
Investments can be made for any period up to 365 days.
Interest is payable on maturity.
Investments are dependent on availability of bills.
Rates are negotiated on application.
These Bills are issued on a discount basis, currently with initial maturities of 91, 182 and 365 days. This means that income from investing in TBs, at the primary issue, is the difference between the offer (or purchase) price and the nominal (also called face or maturity) value. The Bank of Namibia acts as an agent for the Government.