If you're thinking about saving money in a certificate of deposit or putting it into a Treasury bond, this calculator can help you compare their yields.
CDs are taxed at the federal, state, and local level.
Treasury bonds are only taxed at the federal level. You do not pay state or local income taxes.
We set the default to the highest nationally available 12(ish)-month CD shown CD Valet (currently an 11-month 4.15% APY from LendingClub Bank as of May 2026).
Treasury vs CD comparison
See which earns more after federal and state taxes given your situation.
%
%
months
$
$
After-tax Treasury yield
0.00%
$0 over 11 months
—
After-tax CD yield
0.00%
$0 over 11 months
Federal marginal rate—
State + local rate—
Treasury advantage from state tax exemption—
CD yield needed to match Treasury after-tax—
State rates use approximate top marginal brackets. The Treasury state-tax exemption applies to direct holdings. Not financial advice.
