Predicting Loan Eligibility: A Machine Learning Approach

Predicting Loan Eligibility: A Machine Learning Approach

Prof.Karthik

1. K Ranjith 2. P Tejawini  3. S R Ravindra 4. N Renuka 5. A Revanth 6. SK Rezwan Ali Artificial Intelligence and Machine Learning

Department of Computer Science and Engineering

Malla Reddy University,Hyderabad,Telangana,India

Abstract: The goal of this ML project is to build a model that accurately predicts how much loan a user is eligible for based on their personal and employment details, including their    marital status, education, number of dependents, and employment status. This project will use machine learning techniques to build a linear regression model that can analyze and identify patterns in data, to make accurate predictions.

Ones the data is cleaned, a linear regression model will be built using the personal and employment details of users as input features and their corresponding loan amounts as output. The model will be trained on a subset of the dataset and then tested on a separate validation set to assess its accuracy

This ML project has the potential to make the loan application process more efficient and accurate. By automating the loan eligibility process, it can help reduce the workload for loan officers and improve the accuracy of loan decisions

The project has several benefits, including making the loan application process more efficient, reducing the risk of default for lenders, and increasing transparency and fairness in the loan application process.

The project also has several challenges, including collecting and analyzing accurate and relevant data, building a model that is both accurate and interpretable, and creating a user interface that is easy to use and provides useful feedback to the user.

Keywords:- Machine learning, Data, Loan, Training, Testing, Prediction