New Delhi, June 9 -- With repo rate declining to 5.50 percent after RBI's monetary policy committee (MPC) cut the repo rate for the third consecutive time on June 6, banks have followed suit. A number of bankss have already slashed their lending rate after RBI's rate cut.

Not only lending rates, even the fixed deposit (FD) interest rates are also set to move southward in the wake of repo rate cut. Consequently, depositors are recommended to lock their savings into fixed deposits (FD) before the rates are cut again.

So, if you are exploring the idea of opening a fixed deposit, you may check the interest rates offered by top banks both private and state.

"There may be one more cut of 25 basis point in next 6 months and so which will lead...