With rates unlikely to improve until next year at the earliest, if I had $5,000 sitting in a bank account I would consider investing it in some of Australia's top growth shares.
After all, the potential returns on offer from these shares are vastly greater than those of savings accounts.
The three growth shares listed below are the ones I would consider buying today:
Aristocrat Leisure Limited (ASX: ALL)
This gaming technology company's shares have provided an average annual total return of almost 17% over the last decade. While it may be a little much to expect similar returns over the next few years, I do believe Aristocrat Leisure's shares could be market-beaters. This is because I think the company is capable of above-average earnings growth for the foreseeable future thanks to its strong core pokie machine business and its fast-growing mobile and social gaming business.
Bellamy's Australia Ltd (ASX: BAL)
This organic infant formula company's shares have provided shareholders with an average return of over 81% per annum over the last three years. Like Aristocrat Leisure, I don't expect Bellamy's to be able to repeat this over the next three years. However, given the size of the opportunity in the Chinese market and the popularity of its infant formula products, I suspect Bellamy's could still be a market-beater. Incidentally, last month Goldman Sachs placed a $25.70 price target on Bellamy's shares. This equates to potential upside of almost 30% for it shares.
Corporate Travel Management Ltd (ASX: CTD)
This leading corporate travel manager has also proven to be a great investment for longer term shareholders. Over the last five years the company's shares have provided shareholders with an average total return of close to 43% per annum. Once again, while it seems inevitable that this will slow over the next few years, I still believe it has the potential to smash the market. Especially given its growth opportunities in a highly fragmented global corporate travel market.
