New Delhi, Aug. 6 -- If you are planning to open a fixed deposit (FD) with a bank, it is important to first compare the interest rates offered by different banks. Typically, banks offer a 50 basis point higher interest rate tosenior citizens.

It is vital to note that the market is witnessing a declining interest rate cycle after theReserve Bank of India (RBI) slashed therepo rate by 100 basis points in the past three monetary policy committee (MPC) meetings. In today's policy announcement, repo rates were kept the same.

Here we list out the interest rates offered by the top eight lenders in India to regular andsenior citizens on their 3-year term deposits.

I.HDFC Bank: The largest private sector bank offers 6.45 percent to regular citi...