Bank Loan Approval Prediction Using Machine Learning Approach

Abstract

The data is expanding at such a rapid rate in banks nowadays, bankers must examine a person's data before granting a loan amount, there is always a major risk associated when a financial institution lends money to them. The evaluation of data can be a real pain. The data is analyzed and trained using one of the Machine Learning techniques to solve this problem. For this, we created a model to predict the loan amount and display the loan eligibility. The primary goal of this study is to determine whether or not a person is eligible for a loan by analyzing the data using Random Forest, which can provide an accurate prediction.