@Ponny10
If you get invited to an interview stage and elect not to go then I'm not sure if they will ever let you apply again unless due to unforeseen circumstances.
But if you are meaning what happens if you do not get selected this time around, then yes you would lose an application chance. However, I'm not sure how much longer this programme will be running so I would say apply anyways.
Better hurry, less than 24 hours left....