What is the higher interest rates?

I want to invest Rs. 50,000/- on the name of my son, who is only 6 months now. I want to keep money for at least 12-15 years for his education. What is the best investment plan? Is PPF best? I have already open PPF a/c in SBI on my name. OR If I keep this amount as FD, then which bank’s interest rate is high. What about LIC or other insurance compnay, who will give me good returns after 12-15 years. I want my son’s future bright. Please tell me best investment plans.