New Delhi, June 11 -- After Reserve Bank of India (RBI) cut its repo rate for the third time in a row, banks have started to cut their interest rates on term deposits. After HDFC Bank and ICICI Bank, Indian Bank has also cut its interest rates on fixed deposits across tenures.

It is noteworthy to mention that since February, RBI has cut the benchmark rate by 100 basis points from 6.5 percent to 5.5 percent. The ripple effect was seen across banks after most lenders followed suit by reducing their lending rates as well as interest rates on fixed deposits (FDs).

Recently, Indian Bank cut its repo rate by upto 50 basis points across tenures. The latest rates came into force on June 9, 2025.

On a tenure of 1 to 2 years, the government bank...