There are slight differences of meaning. The series "Grammar in Use" from Cambridge has good, brief explanations.
1a - On Mondays (all Mondays), we practice (habit) for two hours.
1b - On Monday_ (all Mondays), we practice (habit) for two hours. (non-standard usage but common)
2a - On Monday (the upcoming Monday), we are practicing (certain future) for two hours.
2b - On Monday (the upcoming Monday), we are going to practice (planned future) for two hours.
2c - On Monday (the upcoming Monday, we will practice (general statement about the future) for two hours.
3 - On Monday (the upcoming Monday, we will practice (decision at the time of speaking) for two hours.
Examples:
How long will we practice on Monday? As usual, we are /practicing/going to practice/ for two hours. (certain or planned)
Should we practice one hour or two on Monday? On Monday, we will practice for two hours. (decision)