Loan Automation System

Introduction

The Bank provides finance for trade commerce and priority sectors to cater to the credit need of small artisans, self-employed persons, small traders etc.. Bank also extends loan for the construction, repair and purchase of' residential building and a limited extend for other consumption purposes. Co-operative banking is a special form of business aiming at the economic upliftment of the members lying with greater emphasis on moral principles and human values. Banks, no doubt, work as catalytic agents in the presence of economic development as they built the financial infra structure, mobilize savings and allocate resources to alternate users.
The installment amount, interest rate and repayment period are different for all loans. To take a loan a customer should have to be an account holder of this Bank. This bank doesn't provide education loan.

1.Cash Credit Facilities
2. Vehicle Loan
3. Hire Purchase
4. Housing Loan

In this project the installment calculation is done. When a customer fails to repay then there occurs the lapse of installment occurs. So the calculation, when the installment lapse is also done in this project.

Purpose of the project

The purpose of developing the project is to automate the existing system.
If the existing system in the Bank is manual. All the data processing is done manually and hence the system is very slow. The data are stored in different types of registers. Getting a particular data is very difficult. In the existing system the calculations needs a lot of time and resources and also calculations are very much prone to errors. This system causes very much difficulty both to the employees and to customers.

In order to avoid the above-mentioned disadvantages we decide to develop the software "Loan Automation System".
The new system uses VB. 6.0 as its platform, which is more users friendly. Along with VB 6.0, Oracle 8.0 is used as the database server on Windows 98 platform. As a result the new system has been able to overcome all the disadvantages of the existing system.