Research · November 6, 2026
What a 0.01% account costs you, by balance
Yearly after-tax interest given up versus a 4.33% 1-year Treasury bill (22% federal, 5% state). Recomputed with every rate check.
What stood out
- On $10,000: $337 a year. On $100,000: $3,370.
- On $1 million: $33,701 a year, after tax.
- Default brokerage sweeps at several big firms pay 0.01%. Checking accounts often do too.
How we did the math
Kept = balance × rate × (1 − federal rate − state rate × (1 − state-exempt share)). Treasury interest is fully state-exempt. Rates come from each provider’s own page or the U.S. Treasury’s daily yield curve; estimates are left out. Full method · Every option at your own numbers →
More research
- The highest rate doesn’t keep the most money
- What 9 brokerages pay on your cash by default
- In 19 states and D.C., a Treasury bill beats every CD we track
- $50,000 at 0.01% has missed about $8,014 since 2022
- CD or Treasury bill? Term by term, after tax
Free to share with credit to Movable Capital. Not investment or tax advice.