Customer Loan Eligibility Prediction using Machine Learning Algorithm in Banking Sector

• Python
• Machine Learning

With the advancement in technology, there are so many enhancements in the banking sector also. Banks are making major part of profits through loans. The number of applications is increasing every day for loan approval. Though lot of people are applying for loans. It?s hard to select the genuine applicant, who will repay the loan. There are some bank policies that they have to consider while selecting an applicant for loan approval. Based on some parameters, the bank has to decide which one is best for approval. It is tough and risky to check out manually every person and then recommended for loan approval. While doing the process manually, lot of misconception may happen to select the genuine applicant. Therefore we are developing loan prediction system using machine learning, so the system automatically selects the eligible candidates. This is helpful to both bank staff and applicant. The time period for the sanction of loan will be drastically reduced. In this project we are predicting the loan data by using some machine learning algorithms.