New Delhi, Feb. 25 -- Early this month, Reserve Bank of India (RBI) cut its repo rate to 6.25 percent. Following this, several banks have followed suit. A couple of banks have cut their interest rates on term deposits, albeit marginally.

It is even recommended that the depositors who want to lock their savings in fixed deposits can do it now to maximise their earnings before the interest rates are slashed. And the trend has already kicked off.

The banks which have already cut their interest rates on fixed deposits (FDs) in February are DCB Bank and IndusInd Bank.

Now DCB Bank offers 7.1 percent on 1-year fixed deposit to general citizens and 7.6 percent to senior citizens.

On a two-year fixed deposit, this bank offers 7.5 percent inte...