In real estate and finance, 'FLOAT' refers to the period between a transaction (such as a deposit or withdrawal) and the time it's credited or deducted, the difference between a variable interest rate and its pegged index, and the act of incurring a debt through loans or bonds.
A variable interest rate is an interest rate on a loan or security that fluctuates over time because it is based on an underlying benchmark interest rate or index that changes periodically.
