TeaLeaf:

 

I think one of the banks, might be aussies Wetspac that offers 2.95% on a normal internet savings account. Ill have to recheck that.

I think its hard to give any kind of advice, and important to realise its not advise its just someones opinion. But, I think its important and great that young people ask what to with what seems like poultry to some, a large amount to them, because salaries havnt gone up by a lot in recent years (perhaps negatively vs inflation), just the paper estimate of real estate.

 

The best non-term rate with Westpac is their Bonus Saver, which gives 2.6% at the moment

Hourly earnings have been increasing by about 2% per year recently, vs 0.4% inflation.  Obviously if you get an increase due to better qualifications or experience, you can do better than that