Loan Approval Prediction by Analysing Customer Trends using Machine Learning

Loan is the amount of money sanctioned to an individual by considering an amount of interest on the principle. This can be done by considering various factors cibil score, credit purchase, income of the employee etc. In the recent years loan applications have seen a tremendous increase as many people are considering it various purposes. Financial institutions are maintaining a greater number of these applications and there should be reliable method to maintain the data in an efficient manner. Initially this loan applications approval relied on manual intervention which can be prone to human error, bias, so there is a need to provide ML decision making model that ensures fairness in lending practices. The primary objective of this study is to provide a efficient model using ML so that it can make Loan approval hassle free. Keywords: Loan approval prediction, machine learning, customer trends