Placement vs off-cycle? What is the difference?

I'm looking at goldman and other BB websites, I can't quite figure out - what is the difference between an "industrial placement" and an off-cycle internship?

Aren't they both basically 6-12 months internships that can lead to FT analyst position?

Also one more question - as far as I understand "off cycle internships" appear pretty randomly and are mostly "start immediately" type? Right? My reason for asking is that I would prefer to do an off-cycle and go into full time than a summer because I am now entering my final year.

Interested in investment banking of course, like all of us.

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