I-Bond vs. CD vs. T-Bill — which wins right now

When you have cash you don't want to risk, three options dominate the conversation: the Series I savings bond (I-Bond), the bank certificate of deposit (CD), and the Treasury bill (T-bill). Each is genuinely safe — the question is which pays the most for your situation right now.

The quick decision tree

• Need it liquid within a year? A short T-bill or a high-yield savings account beats locking into anything.
• Want a guaranteed fixed rate you can set and forget? A CD or a fixed-term Treasury, whichever is yielding more at your term.
• Worried mainly about inflation eroding your cash over years? The I-Bond, whose rate floats with CPI.

Don't forget taxes — it changes the winner

Treasury interest (T-bills, notes, and I-Bonds) is exempt from state and local income tax; CD and savings interest is fully taxable. In a high-tax state, a Treasury yielding slightly less than a CD can still win on an after-tax basis. The headline number is only the start.

The home page shows the live I-Bond composite, the top CD rate, and the Treasury curve side by side so you can see today's winner at a glance — then build a ladder around it.

Build a CD/Treasury ladder around current rates.

Updated July 2026