What other products do banks offer?
Term Deposits
This is a deposit that cannot be withdrawn for a predetermined length of time. Typical term lengths are 3 months, 6 months, 12 months, 2 years. If you place some funds in a 6 month term deposit it means that you cannot access those funds for that length of time. Usually if you wish to withdraw your funds sooner you will forgo any interest earnt. Some accounts might offer you their base interest rate of point something of a percent if you withdraw earlier.
Managed Funds
Managed funds allow you to put your money into a pool with other people. This is then managed by the fund manager. Different funds offer different asset classes and ratios. Some funds may take higher risks, such as those which have close to 100% of the assets in the fund in shares. Managed funds don't always make positive returns. In some years these accounts will go backwards, while in others they may steam ahead.