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lock-in period (1. 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 lender's lending and loan administration expenses. 2. 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. Read more:  businessdictionary.com Alexander Demidov) | |||