I’m with gail on the CD’s. They are a fixed term and yield more than a savings account. Also, most savings accounts are too easy to withdrawl funds from, you may incur a penalty; however, the penalty may just be low enough to tempt you.
Go to your banker, tell them what you want to do, and they might have some great suggestions. Another thing to do, see a financial planner. You may laugh, but I went in, for the first time with only $500 to build on. He pointed me in the right direction and I’ve been working with him ever since that first meeting. Not once did he laugh at my little pile of money.