There are three ways to willingly become a creditor of the U.S. government; buy Treasury Bills, buy Treasury Notes, or buy Treasury Bonds.  Treasury Bills, often referred to as T-Bills, are U.S. government debt issued for less than one year.  They are issued at a discount to par, so interest is paid when the principal investment is returned. Treasury Notes are government debt issued with a maturity of 1-10 years and pay interest semi-annually. Treasury Bonds, sometimes called T-Bonds, are U.S. government debt issued with a maturity date of more than 10 years.   T-Bonds also pay interest semi-annually.