# Floating Interest Rates funds

At least 65% in debt whose interest rate resets with the market. Called Floater until SEBI renamed the debt categories in 2026.

Full page: https://discovermf.com/categories/floating-interest-rates
Figures as of 4 Nov 2026, from DiscoverMF. Information, not investment advice. Past returns do not indicate future returns. Mutual fund investments are subject to market risks; read all scheme-related documents carefully.

12 funds managing ₹50,251 cr. Category averages: +5.2% over one year, +7.1% a year over three years; typical expense ratio 0.64%.

## All funds, by three-year return

| Fund | 1 year | 3 years (a year) | 5 years (a year) | Volatility | Expense ratio | Fund size |
| --- | --- | --- | --- | --- | --- | --- |
| [Axis Floating Interest Rates Fund](https://discovermf.com/funds/axis-floating-interest-rates-fund-149048.md) | +6.4% | +8.1% | +6.9% | 2.0% | 0.52% | ₹146 cr |
| [DSP Floating Interest Rates Fund](https://discovermf.com/funds/dsp-floating-interest-rates-fund-148768.md) | +4.5% | +7.3% | +6.3% | 1.5% | 0.56% | ₹312 cr |
| [Franklin India Floating Interest Rates Fund](https://discovermf.com/funds/franklin-india-floating-interest-rates-fund-101048.md) | +5.2% | +7.2% | +6.4% | 0.8% | 0.95% | ₹259 cr |
| [SBI Floating Interest Rates Fund](https://discovermf.com/funds/sbi-floating-interest-rates-fund-148543.md) | +5.9% | +7.2% | +6.5% | 1.2% | 0.42% | ₹667 cr |
| [HDFC Floating Interest Rates Fund](https://discovermf.com/funds/hdfc-floating-interest-rates-fund-106841.md) | +5.0% | +7.2% | +6.6% | 1.0% | 0.50% | ₹15,514 cr |
| [Aditya Birla Sun Life Floating Interest Rates Fund](https://discovermf.com/funds/aditya-birla-sun-life-floating-interest-rates-fund-122644.md) | +5.5% | +7.1% | +6.6% | 0.7% | 0.43% | ₹12,947 cr |
| [Kotak Floating Interest Rates Fund](https://discovermf.com/funds/kotak-floating-interest-rates-fund-147266.md) | +4.7% | +7.1% | +6.3% | 1.0% | 0.62% | ₹2,988 cr |
| [Bandhan Floating Interest Rates Fund](https://discovermf.com/funds/bandhan-floating-interest-rates-fund-148705.md) | +5.3% | +7.1% | +6.2% | 1.2% | 0.76% | ₹210 cr |
| [ICICI Prudential Floating Interest Rates Fund](https://discovermf.com/funds/icici-prudential-floating-interest-rates-fund-101802.md) | +5.2% | +7.0% | +6.4% | 1.1% | 0.85% | ₹8,038 cr |
| [Nippon India Floating Interest Rates Fund](https://discovermf.com/funds/nippon-india-floating-interest-rates-fund-102673.md) | +4.3% | +7.0% | +6.2% | 1.1% | 0.65% | ₹7,448 cr |
| [Tata Floating Interest Rates Fund](https://discovermf.com/funds/tata-floating-interest-rates-fund-149003.md) | +5.0% | +6.8% | +6.3% | 0.8% | 0.70% | ₹117 cr |
| [UTI Floating Interest Rates Fund](https://discovermf.com/funds/uti-floating-interest-rates-fund-145287.md) | +5.2% | +6.5% | +5.9% | 0.6% | 0.87% | ₹1,605 cr |

## Questions

### How many Floating Interest Rates funds are there?

12 funds, managing ₹50,251 cr between them as of 4 Nov 2026. The largest is HDFC Floating Interest Rates Fund, at ₹15,514 cr.

### What return have Floating Interest Rates funds given?

The average Floating Interest Rates fund returned +5.2% over the last year, +7.1% a year over three years, +6.4% a year over five years. Over the last year the funds ranged from +4.3% to +6.4%. Past returns do not tell you future returns.

### Which Floating Interest Rates fund has the lowest expense ratio?

SBI Floating Interest Rates Fund, at 0.42% a year, against 0.64% for the average fund in the category. The expense ratio is taken out of the fund every day, so every return shown is already after it.

### Which Floating Interest Rates fund has the highest three-year return?

Axis Floating Interest Rates Fund, at +8.1% a year over the last three years, against +7.1% for the average fund. Past returns do not tell you future returns.

### How risky are Floating Interest Rates funds?

Their volatility over the last year averaged 1.0%: the higher it is, the more the price swings from day to day. 7 of 12 carry the riskometer level Moderate, on SEBI's six-step scale from Low to Very High.