In a non-competitive application, you only specify the amount you want to invest and not the yield. You may wish to choose this option if you wish to invest in the bond regardless of the return or are unsure of what yield to bid.
Do note that in an auction, non-competitive applications will be allotted first, up to 40% of the total issuance amount. If the amount of non-competitive applications exceeds 40%, the T-bills will be allotted to you on a pro-rated basis.
You will get the T-bills at the cut-off yield, which is the highest accepted yield of successful competitive applications.
