When you deposit your money with a bank, your first decsion is whether you want access to it all the time. If you are prepared to lock it away for some time, fixed deposit is usually the obvious choice.

If you want ready accessibility, then you will opt for an at call deposit account or investment. The interest rate you ear, if any, will move up or down depending on the money market.

However do not confuse getting your money when you want with getting interest. Investments or accounts may require you to keep your cash in for say, 7 days, before you earn interest. Others may stipulate 30 days.

Alternatively, you can put it in a term deposit for a month or more and earn a fixed rate of interest. Because you elect for a fixed term, thereby reducing the amount of paperwork for the banks, you are rewarded with a higher interest rate than if you chose an at call investment.

At call accounts come in many shapes and forms depending on which intermediary is packaging them. Banks, building societies, credit unions, insurers and finance companies offer at call accounts. The basic types of accounts available for your cash are:

1. Stand alone savings accounts.

2. Investment accounts.

3. Stand alone chequing accounts

4. Transaction accounts

5. Cash management accounts

6. Business chequing accounts