New Delhi, Feb. 19 -- As we are aware that the Reserve Bank of India (RBI)cut the repo rate by 50 basis points. This may continue further in the near future as the rate cut was seen as the onset of rate cut cycle by the banking regulator.

Following this, oneprivate bank has already slashed its savings bank interest rate. There are expectations that most private and state banks will start cutting their interest rates on fixed deposits (FDs) sooner than later.

This is also seen as opportune time tolock your savings in fixed deposits (FDs) before the banks follow suit.

However, experts also recommend to refrain from locking too much money in term deposits since the interest income on fixed deposits is taxable and those falling in the high...