> For the complete documentation index, see [llms.txt](https://docs.infinitypools.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.infinitypools.finance/protocol-overview/mechanism-details/loan-styles/periodic-loan.md).

# Periodic loan

A periodic loan is the main loan type used by InfinityPools. It is a combination of the two previous types of loan (fixed term and revolving). Periodic loans start off as fixed term loans and switch to revolving loans after a predetermined "lock in" period. In the implementation of the protocol, a periodic loan with a lock in of 0 is a revolving loan and one of infinity is a fixed term loan.

<figure><img src="/files/X2S7YS5sgkk2tLRyqLWK" alt=""><figcaption></figcaption></figure>