Floating Rate Fixed Deposit
A floating rate term deposit or sometimes abbreviated as FRTD is a type of deposit account. It is different to a standard fixed deposit in that the interest is variable for the entire tenor of the deposit. The interest rate moves with a reference rate which is reset periodically.
For example in India, it is considered a variant of a fixed deposit or FD and may suit an investor who takes a risk on the direction of interest rates/inflation as rates offered are often aligned to RBI Treasury Bill rates.