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Money Market vs T-Bill vs HYSA Calculator

Compare after-tax annual income from three cash investments by modeling your yield, tax situation, and state tax exemptions.

Quick answer: Compare estimated after-tax annual income across three common cash choices using an entered money-market-fund state-exemption percentage. Enter Amount, HYSA APY, Money Market Yield, and T-Bill Yield to personalize the estimate. It returns MMF After-Tax Income, HYSA After-Tax Income, and T-Bill After-Tax Income so you can compare the impact before choosing a next step. Use it to compare cash flow, interest, liquidity, and next-account choices before moving money.

SWReviewed by SwitchWize Research Desk · Last reviewed July 14, 2026
MMF After-Tax Income
$1,695
MMF After-Tax Income
$1,695
HYSA After-Tax Income
$1,540
T-Bill After-Tax Income
$1,748
T-Bill Advantage vs HYSA
$208
Diagnostic

Entered rates produce after-tax annual income of $1,540 for savings, $1,695 for the fund, and $1,748 for T-bills.

The signed T-bill difference versus savings is $208; verify current yields, tax treatment, and liquidity before acting.

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What to do next

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Your action plan
  1. 1

    Compare the leading option against your current setup

    Compare estimated after-tax annual income across three common cash choices using an entered money-market-fund state-exemption percentage.

  2. 2

    Pressure-test one alternate scenario before deciding

    Assumptions change the answer, especially when rates, taxes, or timing matter.

  3. 3

    Save the result to Money Map or use the linked next action

    Turn the result into a prioritized action instead of treating it as a one-off number.

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This is an educational estimate, not tax, legal, investment, or lending advice. Confirm with a qualified professional or the provider before acting.

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Reviewed Sep 22, 2026 · Methodology

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Frequently Asked Questions

Everything you need to know.

What does an example Money Market vs T-Bill vs High-Yield Savings Calculator calculation look like?
Using this calculator's own default assumptions, a amount of $50,000, hysa apy of 4.4% and money market yield of 4.55% produces an estimated mmf after-tax income of $1,695 and hysa after-tax income of $1,540. Enter your own numbers above to see how it changes for your situation.
Why do money market funds sometimes show higher after-tax income than T-Bills with lower yields?
Money market funds often qualify for partial or full state income tax exemptions in many states, while T-Bill interest is always subject to federal tax and usually state tax as well. This exemption can offset a lower nominal yield and produce a higher after-tax result depending on your state's rules.
How does my tax bracket affect which option wins?
Higher federal and state tax rates make tax-exempt or tax-advantaged income relatively more valuable. The same nominal yield is worth more to you after taxes when your tax rates are higher, which can shift which product delivers the best net return.
Is the Money Market vs T-Bill vs HYSA Calculator free to use?
Yes. SwitchWize calculators are free, and you do not need an account to run scenarios or view the result.
Does using the Money Market vs T-Bill vs HYSA Calculator affect my credit score?
No. Using a calculator does not trigger a credit check. A credit impact can occur only if you apply directly with a lender, card issuer, or provider.
Are the results personalized financial advice?
No. Calculator outputs are educational estimates based on the inputs you enter. Review assumptions and confirm terms directly with providers before making a financial decision.
What should I do after seeing the result?
Use the recommendation module on this page to plan your next move, or run Money Map to compare this banking & savings decision with your other opportunities.
How does SwitchWize choose related offers?
Related offers are matched by the calculator surface (savings) and ranked using SwitchWize data such as rate, fees, trust signals, product fit, and switching friction. Paid relationships do not change organic ranking order.
How fresh are the rates and offers shown?
Rate and offer data is reviewed on a recurring cadence and every offer module shows review context or links to the methodology and disclosure pages.
Where can I see the ranking methodology?
The SwitchWize methodology page explains how rate freshness, editorial review, affiliate disclosure, and category ranking factors work.
Can Money Map use this result?
Yes. Money Map is the broader diagnostic path: it compares savings, mortgage, cards, and debt so you can see whether this calculator result is your highest-impact next move.

Why This Matters

Cash-equivalent yields vary significantly across product types, but what matters is what you keep after federal and state taxes. Money market funds often carry state tax advantages that T-Bills and high-yield savings accounts do not, making the highest nominal yield misleading without accounting for your full tax burden.

How to Use It

  1. 1Enter the amount you plan to invest across these three options.
  2. 2Input the annual percentage yield (APY) your high-yield savings account offers.
  3. 3Enter the current yield on the money market fund you're considering.
  4. 4Input the yield available on Treasury Bills matching your time horizon.
  5. 5Enter your effective federal income tax rate as a percentage.
  6. 6Enter your state income tax rate as a percentage.
  7. 7Enter what percentage of money market fund income is exempt from your state's income tax.
  8. 8Review the after-tax annual income for each option and see which delivers the highest net return in your situation.
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