High Yield Savings Account vs. Treasury Money Market Calculator

When you’re deciding where to keep your cash, the account with the highest advertised interest rate isn’t always the one that earns you the most money.

High-yield savings accounts (HYSAs) and Treasury money market funds are great places to put your cash but they are taxed differently.

And based on your tax rates, that difference can make a Treasury money market fund more rewarding.

Our Tax-Equivalent Yield Calculator helps you compare the two options based on how much money you’ll actually keep after taxes.

How the Calculator Works Enter the amount you plan to save or invest, the interest rate on your high-yield savings account, and the yield on a Treasury money market fund.

Next, enter your federal marginal income tax rate and your combined state and local income tax rate.

You can also adjust the percentage of the Treasury fund’s income that’s exempt from state income taxes.

The calculator will show you: After-tax HYSA yield: The effective annual yield on your savings account after federal, state, and local income taxes.

After-tax Treasury money market yield: The effective annual yield on the Treasury fund after accounting for its potential state and local tax exemptions.

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