In 19 states and D.C., a Treasury bill beats every CD we track
The rate a 1-year CD must pay to match a 4.33% Treasury bill, at 22% federal and each state's top rate. Recomputed with every rate check.
California5.22% · 13.3% state tax
Hawaii5.04% · 11% state tax
New York5.03% · 10.9% state tax
District of Columbia5.02% · 10.75% state tax
New Jersey5.02% · 10.75% state tax
Oregon4.96% · 9.9% state tax
Minnesota4.96% · 9.85% state tax
Massachusetts4.89% · 9% state tax
Vermont4.88% · 8.75% state tax
Best 1-year CD we track4.65% · CFG Bank
What stood out
In California, a CD has to pay 5.22% to keep as much as a 4.33% Treasury bill. In New York, 5.03%.
The best 1-year CD we track pays 4.65% (CFG Bank). It wins only where state income tax is low.
States with no income tax: the higher headline rate wins. Everywhere else, check the after-tax number.
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 →