Do bills discounted have amortization schedule?

Bills discounted typically do not have an amortization schedule. Unlike loans, bills discounted
are short-term debt instruments that represent the sale of a bill of exchange or promissory note to
a financial institution before its maturity. The financial institution purchases the bill at a
discounted price, and the full face value is repaid by the issuer upon maturity.

The discount on the bill represents the interest or fee earned by the financial institution for
advancing the funds before the maturity date. The issuer is responsible for repaying the full face
value of the bill at maturity, and there is no structured repayment schedule or periodic
amortization payments associated with bills discounted.

Instead of an amortization schedule, the financial institution earns its return by purchasing the
bill at a discounted price and receiving the full face value at maturity. The difference between the
discounted purchase price and the face value represents the interest earned by the financial
institution.