New Delhi, May 9 -- If you want to open a fixed deposit (FD) account with a bank, it is recommended to first compare the interest rates offered by different lenders. Recently most banks have slashed their interest rates after RBI cut the repo rate by 25 basis points following the three-day monetary policy committee (MPC) which concluded on April 9. Let us find out which banks now offer the highest interest rate on their term deposits.

HDFC Bank: It offers 6.6 percent interest on one-year FD and 7.10 percent to senior citizens. The bank gives highest interest of 7.05 percent on tenure between 15 to 21 months to regular citizens and 7.55 percent to senior citizens.

ICICI Bank: On one-year tenure, ICICI Bank offers 6.7 percent to general c...