A loan against securities can be prepaid or foreclosed at any time. Interest is charged only for the period the loan remains outstanding, so if you repay within 2 months, interest is charged only for those 2 months. There are no charges for prepayment or foreclosure.
Steps
- Log in to your loan dashboard at zerodhacapital.com.
- Click the Close loan option.
- The total amount due, principal plus interest, is displayed.
- Pay the full outstanding amount to complete the closure.
Once the payment is made, Zerodha Capital processes your loan closure. After processing, the pledged shares are unpledged and credited back to your demat account within 2 working days.
If you intend to take a top-up loan later, note that closing the loan ends the agreement. Keeping a minimum outstanding of Rs. 150 keeps the account active instead.