LOAN ELIGIBILITY PREDICTION

LOAN ELIGIBILITY PREDICTION

Mr.A Vadivelu, Pragnanand.O, Sundara Yoganand.O, Raja Brahmendra.V

Dept. of CSE w/s AIML

SRM Institute of Science and Technology

Ramapuram Chennai

Abstract:

The assessment of loan eligibility is a pivotal task within the financial sector, with implications for both lenders and borrowers. Traditional methods of evaluating loan eligibility often involve manual review processes, which can be time-consuming, error-prone, and potentially biased. This study presents a comprehensive `approach to loan eligibility prediction through the application of machine learning, aiming to provide a more objective and data-driven solution.

In this research, we leverage a rich and diverse dataset encompassing historical loan application data, including applicant demographics, financial indicators, credit history, and other relevant variables. Our methodology involves the use of a range of machine learning algorithms, such as logistic regression, decision trees, random forests, and gradient boosting, to develop predictive models. These models are trained on historical data to discern patterns and relationships between different attributes and the outcomes of loan approval decisions.