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Are you interested in floating rate notes? Often called an FRN, this is a bond that has a variable rate equal to a money market rate such as LIBOR or federal funds rate, plus "spread." The spread rate remains constant, so essential it is part constant rate and part variable. Generally these are quarterly coupons, or paid out every three months. There are variations. These are attractive to many because they have historically shown a low interest rate risk.
When you are looking at different investment options there are several choices. There are a few things you will want to keep in mind prior to putting money into an FRN. First look at the different rates associated with the investment. These will vary by the institution and according to the current market. The amount invested also effects the rates. Look at the sort of FRN you are purchasing, though most are similar there can be some differences. The rate of payout will depend on these factors. Investments of this type may require the help of an expert in the field.
Reviewing your options before making an investment is always a good idea. Business.com provides links to sources that may be able to help you with an FRN.
View the links to the left for more on floating rate notes.