New Delhi, Feb. 15 -- As Reserve Bank of India (RBI) slashed repo rate by 25 basis points after a five-year gap, banks are likely to follow suit.

Therefore, it won't be long before banks start slashing interest rates they offer on fixed deposit.

Meanwhile, banks have yet not cut interest rates on their deposits so far. So, if you want to allocate some of your funds to a fixed income instrument, you may want to consider locking some money there before the interest rates are slashed.

Typically, banks give higher interest on their long-term fixed deposits and low interest on short term fixed deposits.

Here we list out the interest rates banks offer on their fixed deposits on three-year deposits.

HDFC Bank: As the table below shows, the ...