Definition of Lock-in period:
Period during which a loan cannot be paid-off earlier than scheduled without incurring penalties. Its objective is to generate a certain minimum return on the sums advanced that covers the lenders lending and loan administration expenses.
Period for which a lender agrees to hold steady the agreed upon interest rate on the loan irrespective of the market rate. Also called lockup period.
Meaning of Lock-in period & Lock-in period Definition