![]() ![]() “We’re combining the complementary strengths of OfferUp and letgo in order to deliver an even better buying and selling experience for our communities. “My vision for OfferUp has always been to build a company that helps people connect and prosper,” said Nick Huzar, OfferUp CEO, in a statement about the acquisition. For consumers, the deal means they’ll no longer have to list in as many apps when looking to unload some household items, electronics, furniture or whatever else they want to sell. Together, the new entity will have more than 20 million monthly active users across the U.S. The acquisition will see two of the largest third-party buying and selling marketplaces - outside of Craigslist, eBay and Facebook Marketplace, of course - become a more significant threat to the incumbents. ![]() To date, OfferUp has raised $380 million. The round will close with the closing of the acquisition, which is expected to take place sometime in May. The funds will be put toward continued growth, product innovation and monetization efforts, OfferUp says. Other investors in the new round include existing OfferUp backers Andreessen Horowitz and Warburg Pincus. As a part of the deal, OfferUp will also be acquiring letgo’s classified business, with OLX Group gaining a 40% stake in the newly combined entity. For all FDs, quarterly compounding is assumed.OfferUp, a top online and mobile marketplace app, announced this morning it’s raising $120 million in a new round of funding led by competing marketplace letgo’s majority investor, OLX Group, and others. Interest rates are for senior citizens of 60-80 (deposit amount below Rs 1 crore). The data on FDs is as of August 2, as seen on lenders' websites. The Deposit Insurance and Credit Guarantee Corporation, a subsidiary of the RBI, guarantees investments in fixed deposits of up to Rs 5 lakh. Smaller private sector banks and new private banks are offering higher interest rates to garner newer deposits. A sum of Rs 1 lakh invested grows to Rs 1.24 lakh in three years. ![]() A sum of Rs 1 lakh invested grows to Rs 1.25 lakh in three years.Ĭanara Bank offers 7.3 percent interest on three-year FDs for senior citizens. Punjab National Bank offers 7.5 percent interest on three-year FDs for senior citizens. A sum of Rs 1 lakh invested grows to Rs 1.25 lakh in three years. Among public-sector banks, it offers the best interest rates. A sum of Rs 1 lakh invested grows to Rs 1.26 lakh in three years.īank of Baroda offers 7.55 percent interest on three-year FDs for senior citizens. SBM Bank India offers 7.8 percent interest on three-year FDs for senior citizens. A sum of Rs 1 lakh invested grows to Rs 1.27 lakh in three years. IndusInd Bank offers 8 percent interest on three-year FDs for senior citizens. A sum of Rs 1 lakh invested grows to Rs 1.29 lakh in three years. Among private-sector banks, it offers the best interest rates. A sum of Rs 1 lakh invested grows to Rs 1.29 lakh in three years.ĭCB Bank offers 8.50 percent interest on three-year FDs for senior citizens. A sum of Rs 1 lakh invested grows to Rs 1.30 lakh in three years.įincare Small Finance Bank offers 8.60 percent interest on three-year FDs for senior citizens. Utkarsh Small Finance Bank offers 8.85 percent interest on three-year FDs for senior citizens. A sum of Rs 1 lakh invested grows to Rs 1.31 lakh in three years. Among small finance banks, it offers the best interest rates. Suryoday Small Finance Bank offers a 9.1 percent interest on three-year FDs for senior citizens. small finance bank, private and public sector banks offering the highest interest rates in terms of their three-year fixed deposit interest rates to senior citizens. Here are the top three banks from each category i.e. Although bank FD interest is taxable, a lower tax slab for most senior citizens ensures that tax liability is minimal or nil if other income is negligible. The savings are useful to build an emergency corpus. The elders should invest a part of their savings in fixed deposits, which offer liquidity and ensure interest income periodically. Small finance banks, smaller and new private banks have lined up interest rates up to 9.1 percent on three-year FDs for senior citizens, data compiled by Paisabazaar shows. There is a bonanza for senior citizens who love to invest in fixed deposits. ![]()
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