I'm a university student trying to decide where I should keep my money for maximum savings potential.
I currently have a savings account getting 2.75% interest. Is this a good rate or should I shop around? Or maybe consider other options?
In browsing through financial comparison sites such as Mozo, Finder and Rate City the 2.75% interest on your savings account seems quite competitive at the moment. There are a few providers with rates a tad higher but they do come with restrictions on the minimum amount on deposit.
There are options available that may help drive a greater return on your funds however it will depend on your appetite for risk and how accessible you need the savings to be. You could look at a term deposit or create a share and investment portfolio depending on the funds you have available.
If you are looking at these types of options then it is important to get the right advice from a financial adviser who wants to work with you in the short and long term. If you need access to your funds on a regular basis then the 2.75% does seem to be competitive.
I hope this helps