Investors are quickly pulling their money out of the market in a move that many experts criticize as poor timing. These experts believe that the stock market has hit its lows and may bottom out in 2009, which means investors should keep their money parked for a turnaround. However, many investors remain concerned about their retirement funds after a year of huge losses. So, what are the alternatives for these investors looking for a good return on their money?

The answer: Banks. Banks are hungry for consumer deposits these days and that’s leading to record yields on savings accounts, certificates of deposit and money market accounts. Despite the fact that the Federal Reserve slashed its lending rates to between 0% and 0.25%, banks are still placing a high value on consumer accounts on their books as they see consumers as more than just a source of funds but also a list of leads for their other products.

The average rate on a one-year CD is 2.61% while rates on money market accounts average 2.06%, according to BankRate.com. There are higher rates, however, for those consumers willing to bank online. Bank of Internet USA offers a money market account that pays 3.26% while OnBank (M&T’s online division) offers 3.15% on its money market accounts. Others like ING Direct also offer rates in excess of 3% on their savings accounts.