T-bill guide
T-bill vs CD vs savings: the official numbers side by side
T-bills, CDs and savings in one table, with every rate dated and sourced.
The Friday Docket
This week's Treasury results and national rates, free every Friday.
This page compares Treasury bills, CDs and savings accounts in one table, with every rate taken from Treasury or the FDIC and shown with its date and source.
This is not a list of bank offers; it shows the government's own published rates.
T-bill rates: latest Treasury auction for each term (most recent Nov 9, 2026). FDIC national averages: Oct 19, 2026 (monthly). Updated Nov 10, 2026.
Educational information only; not tax or investment advice.
Rates side by side
| Product | Rate | As of | Source | Next |
|---|---|---|---|---|
| 4-Week T-bill | 3.956% | Auction Nov 5, 2026 | Treasury | Compare Stock Rover plans |
| 13-Week T-bill | 4.159% | Auction Nov 9, 2026 | Treasury | Compare Stock Rover plans |
| 26-Week T-bill | 4.293% | Auction Nov 9, 2026 | Treasury | Compare Stock Rover plans |
| 52-Week T-bill | 4.496% | Auction Oct 27, 2026 | Treasury | Compare Stock Rover plans |
| 12-month CD, FDIC national average | 1.76% | Oct 19, 2026 | FDIC | Compare Stock Rover plans |
| Savings, FDIC national average | 0.38% | Oct 19, 2026 | FDIC | Compare Stock Rover plans |
Treasury's investment rate is a bond-equivalent yield; FDIC figures are APY. They are close but not identical measures. FDIC national averages are monthly and can lag weekly auctions by several weeks.
About "high-yield savings": the savings row is the FDIC national average savings rate across all insured banks. It is not a high-yield savings rate. FDIC does not publish a national high-yield savings series, and we do not list individual bank offers. FDIC also publishes national rate caps (same release).
At a glance
Same figures as the table. Sources: U.S. Treasury auction results (Nov 9, 2026); FDIC National Rates and Rate Caps (Oct 19, 2026). Educational.
How they differ
| Treasury bills | Bank CDs | Savings accounts | Next | |
|---|---|---|---|---|
| Access to money | Held to maturity at TreasuryDirect; at a brokerage it can be sold before maturity at the market price | Locked for the term; early withdrawal usually costs a penalty | Any day | Compare Stock Rover plans |
| Rate | Set at each weekly auction, fixed to maturity | Fixed for the term | Variable; the bank can change it | Compare Stock Rover plans |
| Tax | Federal income tax; exempt from state and local income tax | Federal, state and local income tax | Federal, state and local income tax | Compare Stock Rover plans |
| Backing | Full faith and credit of the U.S. government; not FDIC-insured | FDIC-insured up to $250,000 per depositor, per bank, per ownership category | Same FDIC limits as CDs | Compare Stock Rover plans |
| Where to get it | TreasuryDirect or a brokerage | Banks and credit unions (credit unions are NCUA-insured); brokered CDs at brokerages | Banks and credit unions | Compare Stock Rover plans |
Optional: the state-tax view (educational)
The official rates above come first. Because T-bill interest is exempt from state and local income tax and bank interest is not, one way to compare is the CD rate that would match a T-bill after state tax:
Tax-equivalent rate = T-bill rate ÷ (1 − state tax rate)
Example: the 4.159% 13-week bill (auction Nov 9, 2026) with a 5% state rate: 4.159 ÷ 0.95 = 4.378%. With no state income tax, there is no adjustment and the official rate is the number to compare.
Educational illustration, not tax advice. Leaves out itemized deductions and the SALT cap. For federal plus state figures, see the after-tax calculator and IRS Publication 550.
Related: rates this week · auction calendar · CD & savings national rates · I bond vs T-bill vs CD · holiday fund · all guides.
Sources: Treasury auction results, Treasury Fiscal Data, FDIC National Rates and Rate Caps, TreasuryDirect, FDIC deposit insurance. Educational information only; not tax or investment advice. Past auction rates do not predict future rates.
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Frequently asked questions
Is the savings row a high-yield savings rate?
No. It is the FDIC national average savings rate across all insured banks. FDIC does not publish a national high-yield savings series, and YieldDocket does not list individual bank offers.
Are Treasury bills FDIC-insured?
No. Treasury bills are obligations of the U.S. government. FDIC insurance covers deposits at insured banks, such as savings accounts and CDs.
Why are T-bill and FDIC rates measured differently?
Treasury reports the investment rate, a bond-equivalent yield. FDIC reports APY. They are close but not identical, and FDIC averages are monthly while bill auctions are weekly.
Is this investment advice?
No. This page shows published Treasury and FDIC figures for education. It is not tax or investment advice.
Which one pays interest at maturity?
A Treasury bill is sold at a discount and pays face value at maturity, so the interest is the difference. A CD typically credits interest during the term or at maturity, and a savings account credits interest periodically.
Can I get my money out early?
Savings accounts generally allow withdrawals at any time. A CD may charge an early withdrawal penalty. A Treasury bill can be held to maturity or sold through a brokerage before maturity at the market price.