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Online Loan Application & Verification System

This document proposes an online loan application and verification system that would streamline the loan application process for both banks and customers. The system would allow customers to apply for loans online, upload required documents, track the status of their application, and be notified by SMS if approved. It would give banks online access to customer applications and documents to speed up the verification process. The proposed system aims to reduce the time and hassle currently involved in applying for and obtaining loans.

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Akshay Balaji
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237 views

Online Loan Application & Verification System

This document proposes an online loan application and verification system that would streamline the loan application process for both banks and customers. The system would allow customers to apply for loans online, upload required documents, track the status of their application, and be notified by SMS if approved. It would give banks online access to customer applications and documents to speed up the verification process. The proposed system aims to reduce the time and hassle currently involved in applying for and obtaining loans.

Uploaded by

Akshay Balaji
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Online Loan Application & Verification System

Getting a loan is a very tiring and complicated process in India.


It may take weeks even months for loans to get approved and people
have to visit the loan office again and again for document and
verification. Here our proposed project automates the loan process
from both, bankers as well as customer’s side. Here customers may
see various loans provided along with rate of interest and required
documents. Here once the customer fills basic enquiry form, it
reaches the bank server he gets a login id password. The server
administrator now can check it and select weather to go forward or
reject the candidate. If he needs to go forward the banker may select
to send customer to next stage. Now the customer gets stage 1
approval and needs to upload his scanned documents to the site
through his login. Once the documents are submitted they are cross
verified at the server and reply is sent to server. The system server
also gets the person location and his image secretly by tracking the
computer through which he submits documents to the bank server
needed for bank verification. The bank may now cross verify
customer details and also request extra documents by sending online
alerts to the customer email. The customer just needs to upload
needed documents online and can also track loan status. He gets an
sms once his loan has been approved confirming the process.
Software Requirements:

 Windows Xp, Windows 7(ultimate, enterprise)


 Sql 2008
 Notepad ++
 Wamp Serve

Hardware Components:

 Processor – Dual Core


 Hard Disk – 50 GB
 Memory – 1GB RAM

Advantages:

 This system removes all the hassle work needed to acquire a loan.

 This system will perform work faster than existing system.

 Work done in a week of older system can be completed in days.

Disadvantage:

 Authorized person will have to check for any fake documents or other
stuffs like that.

 User needs to have internet connection for using this system.

Applications:

 This system can be used by all banks and other loan providing
companies, to make their process easier and quick.
Reference:

http://ieeexplore.ieee.org/xpl/articleDetails.jsp?
tp=&arnumber=6051901&queryText%3DOnline+Loan+Application

http://ieeexplore.ieee.org/xpl/articleDetails.jsp?
tp=&arnumber=663398&queryText%3DOnline+Loan+Application

http://ieeexplore.ieee.org/xpl/articleDetails.jsp?
tp=&arnumber=4529991&queryText%3De-Loan

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