New Delhi, June 20 -- Before you open a fixed deposit with a bank, it is important to compare the interest rates offered by different banks. After RBI cut the repo rate by 100 basis points in three monetary policy committee (MPC) meetings since February this year, banks have followed suit. Most banks have already cut their interest rates on term deposits.

These banks offer the highest interest rates on theirfixed deposits (FDs).

I.HDFC Bank: Highest interest offered by HDFC Bank is on 15-21 months tenure. The highest interest rate offered is 6.60 percent per annum to general citizens and 7.10 percent to senior citizens. On one-year tenure, the bank offers 6.25 percent and 6.75 percent, respectively.

II.ICICI Bank: Highest rate offered ...