Loan Eligibility Prediction

ABSTRACTThe loan analysis using Machine Learning Techniques System is a sofware developed topredict whether the loan should be given out or not, it is necessary to carry out a backgroundcheck on whether the applicant can meet the repayment conditions or not using parametersApplicantIncome, Coapplicantlncome,Loan,Amounl, Loan_Amounl_Term, Credr Historg,Property_Area,Loan_Status. A requirement is a statement ofdesired behavior,It deals withobjects or entities ofa system, the states the objects can be in, and the functions that areperformed to change states or objects characteristics. The goal of the requirementsgathering and analysis phase is to understand a customer's problems and needs which formsthe basis of their expectations rom the proposed new system. It involves a proper studyofthe project problem statement, elicitation of the requirements from the intended users andother stakeholders, to produce a requirements defìnition document and analyzing therequirements thus gathered to determine the specifications ofthe proposed new system. TimeSeries Analysis can be done using the Loan data of several years,for prediction of theapproximate time, when the client can default. Future analysis can be done on predicting theapproximate Interest rates that the loan applicant is expected to be charged as per hissyubg əuos əouns 'sguboyddo u0o1 1of 1mlasn aq u0o S14I panouddo sI u001 S되чA 'aNoudapprove loans, but give very high interest rates to the customerKeywords: Machine Learning, Linear Regression, Random Forest, Decision tree,and K-NearestNeighbor