At present the interest rate on a National Australia Bank Ltd (ASX: NAB) savings account is just a paltry 1%.
This is in line with what is being offered with the rest of the big four banks and unlikely to change any time soon given the outlook for the cash rate.
In light of this, I continue to believe the share market would be the best place to put funds if you don't have an immediate use for them.
After all, the potential returns on offer from share price gains and dividends are vastly superior to the interest rates on savings accounts.
With that in mind, here are three top ASX 200 shares which I would invest in today:
Cochlear Limited (ASX: COH)
I think Cochlear would be a great option for investors due to the ageing populations tailwind. I expect this tailwind to lead to increasing demand for its hearing solutions products over the next decade and beyond. And thanks to Cochlear's industry-leading products, high levels of investment in research and development, and its wide distribution network, I believe it is well-positioned to deliver consistently solid sales growth over the long term.
Nanosonics Ltd (ASX: NAN)
Nanosonics is an infection control company which I think would be a great long term investment. I'm a big fan of the company due to the enormous potential of its trophon EPR disinfection system for ultrasound probes and the upcoming launch of several new product launches. If these product launches are a success, they could underpin strong earnings growth over the next decade and beyond.
NEXTDC Ltd (ASX: NXT)
Another ASX 200 share to consider buying right now is NEXTDC. It is a leading data centre operator which looks exceptionally well-positioned to benefit from the increasing demand for cloud services and data consumption. And with both expected to continue increasing strongly over the next decade as more data moves to the cloud and 5G internet adoption grows, the future looks bright for NEXTDC.
