Year: 2024
Type: article
Abstract: By automating eligibility evaluation based on preset criteria, the Loan Eligibility Checker technology is intended to expedite the loan application process. This project evaluates applicants based on important indicators, such as debt-to-income ratio, income, employment stability, and credit score, using data processing, machine learning, and rule-based algorithms. This solution saves time and resources for manual assessment, improves client satisfaction through prompt feedback, and increases the efficiency and accuracy of loan evaluations for financial institutions by offering an instant conclusion on loan eligibility. Because of its scalability, the system can process a large number of applications and offer reliable, impartial evaluations to a diverse pool of candidates. In the end, financial institutions benefit much from the Loan Eligibility Checker.
DOI: 10.55041/ijsrem39108
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4404756042