> For the complete documentation index, see [llms.txt](https://docs.teller.org/v2/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.teller.org/v2/personas/pool-owner/payment-cycle-type.md).

# Payment Cycle Type

### Seconds&#x20;

A loan with a payment cycle type of 'seconds' will have regular payment cycles which are due every 'paymentCycleDuration' seconds. &#x20;

### Monthly&#x20;

A loan with a monthly payment cycle will have regular payments which are due on the same day of the month every month.  The first payment is due one month after the loan was accepted. &#x20;