1. Bank Loan prediction using Machine Learning
- Author
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Ayan Alam, MR. MANOJ KUMAR CHAURASIYA, Divyansh Singh, Hridyanshu Pal, Naman Kumar Sharma, and Harshit Sinha
- Abstract
Loans play a crucial role in the financial industry, and predicting the likelihood of a borrower's ability to repay the loan is a critical task for banks and financial institutions.The main objective of our paper is to develop a machine learning model that can accurately predict whether a loan applicant is likely to repay the loan or default on it. We have leveraged two popular machine learning models, Support Vector Machines (SVM) and Naive Bayes, to achieve this objective.We have trained these models on a dataset containing various attributes related to loan applicants, such as their credit score, income, loan amount, etc. The models have been fine-tuned to achieve high accuracy and precision while minimizing false positives and false negatives.The results of our project will not only help banks and financial institutions in making better lending decisions but also enable them to manage their risks effectively. We hope that this project will serve as a useful resource for anyone interested in understanding the power of machine learning in the financial industry.
- Published
- 2023
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