Putting Student Loan Directly Into Savings Account - Advice Needed

_samwood_

Hi all

So basically I am 18 and about to start at the University of Huddersfield studying Business Management, on a 3 year course with +1 year work placement
I have applied for and have been accepted for the full maintenance loan (roughly £3,000 a year). Although I am living at home and will not need to touch this money so I am wanting to put it into some kind of savings account.
The money will be paid in 3 instalments over each of the 4 years of my course

So the bottom line is what account should I be putting the money into?
As I wont have it all at once and will be adding to the account every 4 months.
When I graduate from Uni I am not planning on spending it on anything for definate but it may be needed

Any help or advice would be much appreciated

Cheers, Sam

DragonQ

Cash ISA. Best right now is 3.05%, although if you're sure you won't need to touch the money, you could put it in a fixed cash ISA for 2 years or whatever and get a higher rate.