Interest rate debt fund products mainly include government bonds, local government bonds, policy financial bonds and central bank bills. According to whether the bond interest rate changes during the repayment period, interest rate bonds can be divided into fixed rate bonds and floating rate notes. Since the bond interest rate fluctuates with the market interest rate and takes the form of floating rate notes, any significant difference between the actual rate of return and the market rate of return can be avoided, so that the issuer's cost and the investor's income are consistent with the market trend. The fluctuation of bond interest rate also makes the issuer's time cost and the investor's actual income with great uncertainty, which leads to higher risks.

a fixed-rate bond refers to a bond whose interest rate is fixed throughout the repayment period at the time of issuance. Fixed rate bonds are bonds with fixed interest rate, fixed interest coupon and fixed maturity. Floating-rate bonds refer to bonds whose interest rates fluctuate regularly with the market interest rate at the time of issuance, that is to say, the bond interest rates can be changed and adjusted during the repayment period. Floating rate notes is often a medium-and long-term bond.