Loan Application & Verification Management System
The main objective of developing this project is to handle the all details of Loans in the bank. The project has been developed to smoothen the processing of Loans in banks. Our proposed project automates the loan process from both, bankers as well as customer’s side. Customer can apply for a loan and after approved it they can track their details from online. LOAN MANAGEMENT SYSTEM is a very efficient process to handle all loan related transaction in a very accurate and convenient way. Bank loan management system is an interface which facilitates a customer to apply for a loan online and to track the status from time-to-time. This system provides detail about the customers, their loan details,EMI details and its rate details.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. Using with this system admin can find customer details easily and it’s a paperless system so workload is reduced. It is very helpful for those banking staffs who are in the charge of loan management, it provides a very reliable and convenient form for every loan and emi related transaction and their related details. Interest rates and the loan details are also available at the click of a mouse. Bank loan management system is unique in such a way, it not only helps the customers but also the loan agency to check the pending, assign it to a departments complete the formalities and procedures between the departments and arrive at decisions to very fact. Loan Application & Verification Management System
Software Requirements: –
Front End: HTML5, CSS3, Bootstrap
Back End: PHP, MYSQL
Control End: Angular Java Script
Android Tools:
IDE: Android Studio
Android Emulator
XAMPP 8.1 – 64 bit
PHP Tools:
XAMPP 8.1 – 64 bit
EXISTING SYSTEM:
- At present the finance division does not have any automated system to manage the data of Loans. They have to rely on manual system which is time consuming. Existing system doesn’t maintain details with proper security and can’t track details easily. It doesn’t allow the customer to check their profile in proper way which leads customer dissatisfaction. and any addition, deletion or modification to any data or retrieval of data requires lot of time and effort.
- It does not provide option to download loan form. Existing system doesn’t contains functionalities of fast retrieval information such as customer details and maintenance of all the loan details so it involves lots of paperwork. Apart from administrative task being cumbersome, manual system of registration is also long and error-prone. it Doesn’t user-friendly interface.
- Lots of time is required to manage customer info & details so it feels that existing system not accurate and therefore maintenance becomes very complicate. In the manual handling of data filled by dealing hand users, administration has to keep the forms in order and check manually all the fields filled by the users to ensure that each field is correctly entered. It used to take more time to find customers because there are required extra manual effort such as to hire candidate. It is tedious process as one has to inform the users to fill the correct information. There is no provision to prevent incorrect data entry in form and the data masters. It is very difficult to generate different reports as per the business requirement.
- In the present system a user can be reminded with the calculated CIBIL score based on the repayment of the loans that the user availed. This often requires a lot of time and effort as it a manual system of the admins. A customer may not get the desired information from these offices and often the customer may be misguided. It is tedious for a user to get a proper guidance to repay the loan due.
PROPOSED SYSTEM:
- The proposed system is a web based automated application and maintains a centralized repository of all related information. The system maintains the records of the loan details for every user. On a regular basis it notifies the users to pay their loan amount
- he customer can directly apply for a loan by application and loan type from the list available. Here once the customer fills basic inquiry form, it reaches the bank server so he gets a login id password. The application is received by loan agency who will have Admin to approval. The server administrator now can check it and select whether to go forward or reject the candidate. This system can be controlled by the administrator. First he will look at the application received and allot the application for a particular employee of pickup department.
- Now the customer gets approval by verifying the 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 customer just needs to upload needed documents online and can also track loan status. The administrator or final approving authority views both types of reports, Viz, the reports from verification department and the report legal department. This will help him to take a decision regarding whether to forward it to the bank or not. The same is communicated to the customer.
System Modules:
Administrator:
- Login
- Manage Loan Scheme
- Verify Application process
- Manage Loan Application
- Approve/Reject
- Manage EMI History Details
- View Registered Users
Customer:
- Register
- Login
- Apply for Loan scheme
- Upload 4 documents
- Adhaar Card, Pan Card , IT return, Salary Slip
- Check Status
- View EMI History
- Manage Profile
- Upload 4 documents
Module Description
- Admin:
- Update status
Admin will update status the loan details of the users in the database.
- Manage loan Details
Admin will maintain the loan detail records of every user on a regular basis.
- Verify EMI Loan
They verify the loan due of users whether that is paid or on due.
- User:
- Register
User will register with the system using their username and password.
- Login
After the registration process users can login to their account any time using the login details.
- Apply Loan
- User can apply for loan online application with supporting documents
- View Loan Details
Once they logged in they can view the details of the loans.
- Pay & Search EMI Records
User can search and fetch the EMI records whenever they need.
