Bank Loan Prediction System using Machine Learning

Abstract

With the advancement in technology, there are so many enhancements in the banking sector also. The number of applications is increasing every day for loan approval. 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. In this work, we use a machine learning technique that will predict the person who is reliable for a loan, based on the previous record of the person whom the loan amount is accredited before. This work's primary objective is to predict whether the loan approval to a specific individual is safe or not.