This is a difficult question to answer in today's low rate environment. Even 10 years ago, you could happily put money into a savings account making a beautiful 5% a year, safe and secure, but now you see rates closer to 0.9% as you mention. Short-term bonds are another historical haven, also suffering in terms of yield.
Your safe bet is to leave it in the savings account at 0.9%. Long term bonds and/or any equities are unsuitable. Short term bonds are still practical, but it's only another 0.5% interest at the most and it opens up more volatility.
Your risky bet is to drop things into the market like you were planning for the long haul, and only pull money out if you win the short term bet. This means that depending on the random mood swings of the market, you will either cash out at a rate somewhere generally between -30% to 30% annually or be forced to delay the car/move/wedding/honeymoon.
Your offbeat bet is to drop the money into peer to peer lending, via something like LendingClub. The returns have been remarkably stable for the last 8 years, but there's no guarantee this will stay true in the future. In addition, liquidating your account in the best manner can take 1-3 months. However, this method can give you stable 10% returns before taxes.