A floating rate bond pays a coupon that changes with a benchmark rate, such as the RBI repo rate, a Treasury bill yield or MIBOR, plus a fixed spread.
The coupon is reset on dates set in the offer document. When rates rise, the coupon rises; when they fall, it falls. Because the coupon follows the market, the bond's price moves much less with interest rates than a fixed-coupon bond's, but the income is not fixed.
The RBI's Floating Rate Savings Bonds are a well-known example for individual investors. Corporate floating rate bonds are mostly bought by institutions. Market-linked debentures are different: their return depends on a share index or other market price, not an interest rate (see market-linked debenture).
Floating rate bond: issuers on Bond Interpretation
224 outstanding bonds of this kind from 118 issuers are on Bond Interpretation. Issuers with the most:
- Alpha Alternatives Financial Services Private Limited 16 bonds
- AAVAS Financiers Limited 8 bonds
- Delhi International Airport Limited 6 bonds
- Interise Trust 6 bonds
- JM Financial Home Loans Limited 5 bonds
- SBFC Finance Limited 5 bonds
- Aadhar Housing Finance Limited 4 bonds
- Ashiana Housing Limited 4 bonds
- DLF Cyber City Developers Limited 4 bonds
- ICICI Home Finance Company Limited 4 bonds
- 360 ONE Prime Limited 3 bonds
- Aptus Finance India Private Limited 3 bonds
- Clean Max Enviro Energy Solutions Limited 3 bonds
- Credila Financial Services Limited 3 bonds
- ECap Equities Limited 3 bonds
Data as of 6 Nov 2026 (snapshot 20261106-2030). Methodology and sources
Related
Related terms: Coupon rate · Market-linked debenture (MLD) · Duration
Before investing, look up the issuer: all its outstanding bonds, rating history and disclosure documents.
This page is for information only. It is not investment advice, a credit rating or a recommendation to buy, sell or hold any security. Facts are taken from the issuer's own documents and the sources linked on this page; check them with the source before investing.
