Investors say bank deposits are the safest

A new survey has found the number of consumers who believe bank deposit accounts are the wisest place for their savings is at its highest level since Gough Whitlam was Prime Minister.

The number of people who took part in the sentiment index survey and who favoured deposit accounts as the safest place for their savings rose from 32.6 per cent in June to 39 per cent in September – the highest proportion since 1974.

The proportion that preferred real estate as a safe investment fell from a quarter to just under a fifth, while those who opted for shares remained near record lows at 5.5 per cent.

More than 20 per cent believed paying down debt was the best way to save money.

Source: Herald Sun