A new survey has revealed that people across Australia do not seem to be taking enough interest in their financial products, despite the fact that most believe that they do not have enough saving for when they retire.

According to the latest Citibank Australian Wealth Survey, nearly 60% of the Australian does not know what the interest rate in their accounts is and another 63% feel that will not have enough saving to meet their financial needs effectively once they retire.

Only about 17% of the people who participated in the survey were confident that their saving was enough to help them sail through comfortably after they retire.

Also, it was revealed by the survey that about 60% of the people confessed that they do not know enough about investment planning to change the situation they are in.

"Our research has found that overall, Australians lack the desire or motivation to take action to improve their financial situation", said Andrew de Graaff of Citi Wealth Management, while stressing that most Australian are not taking the simple steps needed to make the most of their earnings.