If you closed the loan yourself, you can apply for a new loan after a cooling period of 3 days.
If the loan was foreclosed due to default, you can apply for a new loan only after 90 days from the date of foreclosure. This restriction applies when:
- Interest was not paid for 3 consecutive months
- The loan was foreclosed through confiscation of securities because the tenure expired
- The loan was foreclosed through confiscation of securities because the borrower was unable to repay
After the applicable waiting period, you can apply for a fresh loan through the Zerodha Capital dashboard.