Nobody can answer this wisely without more info. What are your investment goals? How long do you want to invest? At how much risk?
A CD is safest, but you will get next to nothing in interest. An annuity is for most people not a good idea - they make more on commissions than you will gain from it. A mutual fund is often a good choice, and there is a lot of variety, conservative, aggressive, bonds, funds, hybrids, etc.
But only you can really decide.
If you want to look at the best CD rates, try
www.bankrate.comOthers alternatives are Money Market funds, bond funds, and stock funds (or a combo of them).
Generally it is better to stay out of the banks entirely. You will do better at a local credit union, and
money market funds can also have checking account abilities. For bonds or stocks, try a discount place like Vanguard.
Try reading Investing For Dummies for more info to help you.