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Kids left 5K each in will, where should I invest it?

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I am in receipt of two cheques, each in my childrens name for 5k each from their deceased grandfather. Before he died he wanted to save for them and opened up National savings bonds as he was adamant he didn't want to pay any "start up fees" to any bank/building society.

I don't think we can invest this much in the bonds, although I'm not sure what the best option is. They are 2 1/2 and nearly 4 so have missed out on the child trust funds.

Any help gladly received! :confused:
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