The rate is only half the story
CD or Treasury bill? Compare what you keep.
Match the term, enter your bank’s CD APY, and see how state taxes can change the result. Treasury yields come from the U.S. Treasury daily bill rates (latest feed date 2026-11-04).
Set up the comparison
Use a CD APY from the bank’s current disclosure. The Treasury benchmark is a published secondary-market investment yield, not a purchasable quote.
Tax inputs are optional estimates. The model adds federal and state marginal rates for CD interest and applies only federal tax to Treasury bill interest. It does not model deductions, local exceptions, or tax-advantaged accounts.
Same dollars · same horizon
Which pays more for you?
Enter a CD APY and a current Treasury investment yield to compare the same amount over the same number of days.
This is a simplified illustration, not a live offer or tax advice. CD compounding and bill returns may differ from your actual purchase. Check bank terms, Treasury auction or broker price, liquidity needs, and insurance limits.
Why the tax line matters
Treasury bill interest is subject to federal tax but exempt from state and local income tax, according to IRS Topic 403. Your situation can differ.
What rate is shown?
Treasury publishes secondary-market bill rates. This tool uses the “coupon equivalent” investment yield, which is based on purchase price and a 365 or 366 day year. For 52-week bills, the estimate uses Treasury’s longer-bill investment-yield convention with a 365-day basis. It is not an auction award or guaranteed available price.
Before you choose
Check withdrawal rules, purchase fees, maturity dates, and deposit insurance. Use our CD penalty directory if early access may matter.