An Approach for Loan Approval Prediction Using Machine Learning

Abstract

Banking sector is one such field where the company needs more accurate results after analysis. There are many people applying for bank loans from banks or other finance companies each day. But the banks cannot provide loan to every individual who is applying for loan. There is a very complex task that the bank employees do to study an analyze if the applicant is genuine or not. To find this out, there are a lot of factors to be considered. Going through this huge amount of data can be a really difficult task and yet one cannot be sure if the applicant will be able to pay back the loan within the given time or not. Objective of the paper is to make thorough analysis of the test data and make predictions if the applicant is genuine or not. For this process, we are using Machine Learning where the trained data is used to make predictions.