loan approval engine
In recent years the banking sector has seen unprecedent growth alongwith remarkable improvment in the availability and quality of its services. One of the most important services provided by the banks is extending loans to its customer. Before any bank approves loans for its customers a number of checks are performed to test the credibility of the customer. For the customers this mechanism of offline loan approval may involve spending hours in queues and lines at banks and answering questions asked by the loan officer in order to get the loan approved.
Our website "Loan Approval System" intends to provide an easy to use and hassel free loan approval engine through which the bank customers apply for loans and check its approval status online.
In this concern, we are creating a convenient software which provide a module that will manage and show the specific operations in the banking industry.
The main objective of this project is to implement the computer based Loan Approval Engine. This system evaluates/weights a Loan Application more efficiently in terms of its applicants credibility and finally tells whether the applicant should be given the loan or not. If yes, how much should be the Loan Amount.System provides the rating to various credentials of Loan Applicant and maintains the lifetime records for Bank Admin for future reference , to know whether any applicant has applied earlier for loan or has he applied for loan in any other branch or not.