Emerging Trends in Engineering and Management
Loan Approval Prediction Using Machine Learning
Authors: Harjyot Singh Sandhu, Varun Sharma and Vishali Jassi
Publishing Date: 04-02-2023
ISBN: 978-81-955020-3-5
Abstract
As the banking sector improves, many take bank loans; It is difficult to choose the right applicant. When the process is done manually, a lot of misunderstandings can arise in choosing the right applicant. The System uses machine learning algorithms, so the system automatically select right candidate. This is obtained by extracting Big Data from the previous data of persons those previously granted the loan, to comply that the machine is trained with the help of machine learning algorithms based on these experiences. Prior study from this period has exposed that there are lots of processes for exploration the setback of credit debt control. Although for accurate forecasts, profit maximization is essential; examining the nature of different ways and comparing them is necessary. To this writing, several Machine learning algorithms that have been used in the past are discussed, and their accuracy assessed.
Keywords
Logistic regression, Random forest, Decision tree, Support Vector Machine, Naive Bayes.
Cite as
Harjyot Singh Sandhu, Varun Sharma and Vishali Jassi, "Loan Approval Prediction Using Machine Learning", In: Vikram Dhiman and Pooja Dhand (eds), Emerging Trends in Engineering and Management, SCRS, India, 2023, pp. 1-6. https://doi.org/10.56155/978-81-955020-3-5-01