There are various different types of savings accounts available through the retail banking sector such as easy access savings accounts, regular savings accounts, and fixed rate bonds. Typically internet based accounts offer the best interest rates. You need to consider your tax status when putting money in retail savings accounts as the interest you receive will be subject to tax. Another consideration is inflation. If the interest rate you are receiving is less than inflation then in real terms you will be losing money as your money can buy less each year.