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Floater Mutual Funds

Floater Mutual Funds invest primarily in floating-rate debt instruments like corporate bonds, government securities, and PSU paper, whose interest rates adjust with changing benchmarks (e.g., RBI repo rate or MIBOR). Because the interest payout fluctuates with prevailing rates, these funds offer better protection against rate hikes compared to fixed-rate debt schemes.

They are a good choice for investors seeking liquidity and resilience during uncertain economic cycles. Frequent repricing of securities helps maintain yield even in tightening environments. For a convenient way to get exposure to floating-rate bonds and manage interest-rate risks without picking individual papers yourself, floater funds are an excellent option to look at.

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List of Floater Mutual Funds

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Burgundy triangular symbolAXIS Floater Fund - Direct Growth

7.86%

Fund Size (Cr.) - 124

Invest
image of a person with long hair inside a circular frameFranklin India Floating Rate Fund - Direct Growth

6.70%

Fund Size (Cr.) - 290

Invest
Orange and red emblem with small i written in white.ICICI Pru Floating Interest Fund-Direct Growth

7.09%

Fund Size (Cr.) - 8,464

Invest
Red lamp lilke geometric icon with flame like illustration in orange and yellowBandhan Floater Fund - Direct Growth

7.15%

Fund Size (Cr.) - 224

Invest
DSP written in black color with a cyan colored underlineDSP Floater Fund - Direct Growth

6.05%

Fund Size (Cr.) - 329

Invest
Blue and red infinity-style symbol with Kotak Mutual fund written in whiteKotak Floating Rate Fund - Direct Growth

6.39%

Fund Size (Cr.) - 3,438

Invest
Blue circular emblem with three keyhole-shaped designs and a curved triangle together forming a tree like structure.SBI Floating Rate Debt Fund - Direct Growth

6.70%

Fund Size (Cr.) - 685

Invest
Black and red square logo with a few white rectangles and a red rectangleHDFC Floating Rate Debt Fund - Direct Growth

6.48%

Fund Size (Cr.) - 16,409

Invest
Red geometric emblem with white geometric shape in betweenNippon India Floater Fund - Direct Growth

6.10%

Fund Size (Cr.) - 7,501

Invest
TATA written in blue over MUTUAL FUND written in white with both having contrasting backgroundsTata Floating Rate Fund-Direct Growth

6.52%

Fund Size (Cr.) - 121

Invest
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How Do Floater Funds Work?

Floater Mutual Funds are a category of debt funds that allocate a significant portion—typically around 65%—of their assets to floating-rate debt instruments. These instruments, which often include corporate bonds and other non-government securities, have interest rates that adjust periodically in line with market benchmarks such as the RBI's repo rate or the MIBOR (Mumbai Interbank Offered Rate).

The functioning of these funds is closely tied to movements in interest rates. When the Reserve Bank of India hikes the repo rate, the yields on floating-rate instruments rise correspondingly, boosting the fund’s income potential. On the other hand, a decline in the repo rate leads to lower interest payouts, though the impact is usually less severe compared to fixed-rate bond funds. This direct correlation makes floater funds especially attractive during periods when interest rates are expected to rise. Fund managers actively curate a portfolio with varying maturities and credit profiles to optimise returns while keeping risk in check. 
 

Popular Floater Mutual Funds

  • Min SIP Investment Amt
  • ₹ 1000
  • AUM (Cr.)
  • ₹ 124
  • 3Y Returns
  • 8.66%

  • AXIS Floater Fund - Direct Growth is an Floater Fund scheme that was launched on 12-07-2021 and is currently under the management of our experienced fund manager Aditya Pagaria. With an impressive AUM of ₹124 Crores, this scheme's latest NAV is ₹1429.3205 as of 8/17/2026 12:00:00 AM.


    AXIS Floater Fund - Direct Growth scheme has delivered a return performance of 7.86% in the last 1 year, 8.66% in the last 3 years, and an since its launch. With a minimum SIP investment of just ₹ 1000, this scheme offers a great investment opportunity for those looking to invest in Floater Fund.

  • Min SIP Investment Amt
  • ₹ 1000
  • AUM (Cr.)
  • ₹ 124
  • 3Y Returns
  • 8.66%

  • Min SIP Investment Amt
  • ₹ 500
  • AUM (Cr.)
  • ₹ 290
  • 3Y Returns
  • 8.25%

  • Franklin India Floating Rate Fund - Direct Growth is an Floater Fund scheme that was launched on 31-12-2012 and is currently under the management of our experienced fund manager Pallab Roy. With an impressive AUM of ₹290 Crores, this scheme's latest NAV is ₹48.0461 as of 8/17/2026 12:00:00 AM.


    Franklin India Floating Rate Fund - Direct Growth scheme has delivered a return performance of 6.70% in the last 1 year, 8.25% in the last 3 years, and an since its launch. With a minimum SIP investment of just ₹ 500, this scheme offers a great investment opportunity for those looking to invest in Floater Fund.

  • Min SIP Investment Amt
  • ₹ 500
  • AUM (Cr.)
  • ₹ 290
  • 3Y Returns
  • 8.25%

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 8,464
  • 3Y Returns
  • 8.06%

  • ICICI Pru Floating Interest Fund-Direct Growth is an Floater Fund scheme that was launched on 01-01-2013 and is currently under the management of our experienced fund manager Ritesh Lunawat. With an impressive AUM of ₹8,464 Crores, this scheme's latest NAV is ₹501.5795 as of 8/17/2026 12:00:00 AM.


    ICICI Pru Floating Interest Fund-Direct Growth scheme has delivered a return performance of 7.09% in the last 1 year, 8.06% in the last 3 years, and an since its launch. With a minimum SIP investment of just ₹ 100, this scheme offers a great investment opportunity for those looking to invest in Floater Fund.

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 8,464
  • 3Y Returns
  • 8.06%

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 224
  • 3Y Returns
  • 8.02%

  • Bandhan Floater Fund - Direct Growth is an Floater Fund scheme that was launched on 10-02-2021 and is currently under the management of our experienced fund manager Brijesh Shah. With an impressive AUM of ₹224 Crores, this scheme's latest NAV is ₹14.2322 as of 8/17/2026 12:00:00 AM.


    Bandhan Floater Fund - Direct Growth scheme has delivered a return performance of 7.15% in the last 1 year, 8.02% in the last 3 years, and an since its launch. With a minimum SIP investment of just ₹ 100, this scheme offers a great investment opportunity for those looking to invest in Floater Fund.

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 224
  • 3Y Returns
  • 8.02%

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 329
  • 3Y Returns
  • 8.01%

  • DSP Floater Fund - Direct Growth is an Floater Fund scheme that was launched on 04-03-2021 and is currently under the management of our experienced fund manager Shantanu Godambe. With an impressive AUM of ₹329 Crores, this scheme's latest NAV is ₹14.3199 as of 8/17/2026 12:00:00 AM.


    DSP Floater Fund - Direct Growth scheme has delivered a return performance of 6.05% in the last 1 year, 8.01% in the last 3 years, and an since its launch. With a minimum SIP investment of just ₹ 100, this scheme offers a great investment opportunity for those looking to invest in Floater Fund.

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 329
  • 3Y Returns
  • 8.01%

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 3,438
  • 3Y Returns
  • 7.92%

  • Kotak Floating Rate Fund - Direct Growth is an Floater Fund scheme that was launched on 09-05-2019 and is currently under the management of our experienced fund manager Deepak Agrawal. With an impressive AUM of ₹3,438 Crores, this scheme's latest NAV is ₹1665.8039 as of 8/17/2026 12:00:00 AM.


    Kotak Floating Rate Fund - Direct Growth scheme has delivered a return performance of 6.39% in the last 1 year, 7.92% in the last 3 years, and an since its launch. With a minimum SIP investment of just ₹ 100, this scheme offers a great investment opportunity for those looking to invest in Floater Fund.

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 3,438
  • 3Y Returns
  • 7.92%

  • Min SIP Investment Amt
  • ₹ 500
  • AUM (Cr.)
  • ₹ 685
  • 3Y Returns
  • 7.82%

  • SBI Floating Rate Debt Fund - Direct Growth is an Floater Fund scheme that was launched on 06-10-2020 and is currently under the management of our experienced fund manager Rajeev Radhakrishnan. With an impressive AUM of ₹685 Crores, this scheme's latest NAV is ₹14.4766 as of 8/17/2026 12:00:00 AM.


    SBI Floating Rate Debt Fund - Direct Growth scheme has delivered a return performance of 6.70% in the last 1 year, 7.82% in the last 3 years, and an since its launch. With a minimum SIP investment of just ₹ 500, this scheme offers a great investment opportunity for those looking to invest in Floater Fund.

  • Min SIP Investment Amt
  • ₹ 500
  • AUM (Cr.)
  • ₹ 685
  • 3Y Returns
  • 7.82%

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 16,409
  • 3Y Returns
  • 7.81%

  • HDFC Floating Rate Debt Fund - Direct Growth is an Floater Fund scheme that was launched on 01-01-2013 and is currently under the management of our experienced fund manager Anil Bamboli. With an impressive AUM of ₹16,409 Crores, this scheme's latest NAV is ₹54.8293 as of 8/17/2026 12:00:00 AM.


    HDFC Floating Rate Debt Fund - Direct Growth scheme has delivered a return performance of 6.48% in the last 1 year, 7.81% in the last 3 years, and an since its launch. With a minimum SIP investment of just ₹ 100, this scheme offers a great investment opportunity for those looking to invest in Floater Fund.

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 16,409
  • 3Y Returns
  • 7.81%

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 7,501
  • 3Y Returns
  • 7.72%

  • Nippon India Floater Fund - Direct Growth is an Floater Fund scheme that was launched on 01-01-2013 and is currently under the management of our experienced fund manager Vikas Agrawal. With an impressive AUM of ₹7,501 Crores, this scheme's latest NAV is ₹50.9917 as of 8/17/2026 12:00:00 AM.


    Nippon India Floater Fund - Direct Growth scheme has delivered a return performance of 6.10% in the last 1 year, 7.72% in the last 3 years, and an since its launch. With a minimum SIP investment of just ₹ 100, this scheme offers a great investment opportunity for those looking to invest in Floater Fund.

  • Min SIP Investment Amt
  • ₹ 100
  • AUM (Cr.)
  • ₹ 7,501
  • 3Y Returns
  • 7.72%

  • Min SIP Investment Amt
  • ₹ 150
  • AUM (Cr.)
  • ₹ 121
  • 3Y Returns
  • 7.61%

  • Tata Floating Rate Fund-Direct Growth is an Floater Fund scheme that was launched on 21-06-2021 and is currently under the management of our experienced fund manager Akhil Mittal. With an impressive AUM of ₹121 Crores, this scheme's latest NAV is ₹13.9518 as of 8/17/2026 12:00:00 AM.


    Tata Floating Rate Fund-Direct Growth scheme has delivered a return performance of 6.52% in the last 1 year, 7.61% in the last 3 years, and an since its launch. With a minimum SIP investment of just ₹ 150, this scheme offers a great investment opportunity for those looking to invest in Floater Fund.

  • Min SIP Investment Amt
  • ₹ 150
  • AUM (Cr.)
  • ₹ 121
  • 3Y Returns
  • 7.61%
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