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Stick it a junior isa..choose an index fund and it will produces regular dividends and appreciate in price over the long term
Key is to make sure fees are low.
Warren Buffett school of thinking.
I would only do surplus in premium bonds the return and chance of winning is too poor.
wildwest-
I once had about £20k in Premium Bonds. That was all my savings. I won a few times but only £25 a time. Overall effective interest rate was pretty poor. Its not great. I keep £100 in now, just in case. Thats now £125 thanks to another win. I've also had £5 worth since I was born (late seventies - its never won anything).
The rest is now in Index Trackers and similar. I've done the same for my son.
tallsam
I’m a new parent and my son has been gifted £1000 by my grandmother. I’d like to invest it for him, along with future gifts (but not necessarily regular monthly deposits). Where should I be looking? Junior investment isa?