Introduction of Online Loan Management System
Are you looking for an online loan management system project? We are here to help you. You can contact us. This system is named an Online loan management system. This system is designed to easily maintain the data of the loan customers specifically. This system is made to keep records about the customers who have taken a loan from a bank.
Registered users can log in to the Loan management system using the email id or the user id and password. After signing in to this system there are the options to add new customers, manage the account of old customers, and check their other details, etc. Daily many new customers visit the bank, so adding the new customer’s details and keeping the records using it is very easy.
There are many other options also like changing the repo rate, adding new accounts, etc. New and unique ids are given to everyone who gets registered over this system and to the customers who take the loan. There are also the options to check the customer’s loan amount, interest rate, and unpaid amount.
Amount paid by any customer or can be saved on it and it is easy to calculate daily that the money is collected. Bank staff members like a manager, the cashier can also check the details of their customers like if any customer has not paid the monthly amount from the last three months, then it will notify the user.
It is easy to calculate money and handle accounts on monthly basis also. This system also has an option to use the backup, which means if we are backing up the database it can never be lost. It can also take attendance of the working staff and can also manage their account for salary. A staff member can also have taken the loan from the bank and that can also be seen.
So, overall, this loan management system is a solution to all the problems that we face in a banking system.
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Modules of Online Loan Management System
Our system has two main interfaces. One is for customers and the other is for the user which manages all the bank accounts.
Along with these, we have other interfaces which can be discussed as below:
Admin:
Admin is the one who verifies the user or the customer who is going to register itself on the loan management system. There can be only one account of admin and all other accounts can be either of user or customer. Admin cannot see the details of the bank loan accounts, only user and customer can see it. Admin can only add or delete accounts.
Login:
After registration one can log in to the system as the operator of the system on the behalf of the user. After this, he has the other user interfaces available for further actions like adding and deleting doctors and other staff members, etc.
Adding New Accounts:
The first option that is provided in the loan management system is adding new customers or users which are most important. When a new customer goes to a bank, then he or she might have an account or might want to open one. A customer who has an account in the bank can only take a loan so even if a user comes to take a loan, his or her account must be opened in the bank first.
So, adding new customers’ details in the database is most important, and then the user does the other tasks. In the details person’s address, phone number, disease or problem and some other things are asked.
Keeping Loan details:
Another function that this software provides is keeping the details of the customer loan. For example, how many installments have been paid by the user and how many are left. How many installments were not paid by the customer in the past etc? When will the loan be over and what kind of loan is taken by the customer?
Maintaining Records:
A customer can ask for the details of its anytime. Maybe later in any other loan if he requires it. It is very important to maintain the records of patients properly. This feature is given in this loan management system. It keeps all the data saved and by entering the customer id or name it can be fetched whenever it is required.
Monthly installments and interest rate:
As the repo rate gets increased or decreased by the RBI then the banks also increase their interest rate. Therefore, it is very important to know the interest rate of the customer according to which customer will pay the amount. A number of the installments might get increased or decreased if the customer wants.
Bank details:
As this system can be used for any bank so there is an option to add the details about the bank and then the details about the bank branches according to which the customers taking a loan from specific bank branches will be added. This system is designed keeping things in mind that there might be many different banks using this system.
After adding the details about a particular bank which are required only once all other details and bank branches can be added. If there is a customer who wants to take a loan from a bank branch that is not present in the loan system then the loan cannot be given as it might be a fraud case.
System Design of Online Loan Management System:
Now this prison management system is designed in such a way that it takes fewer resources to work properly.
It has its own sort of minimum requirements that we need to take care of:
- The system needs a minimum of 2 GB of ram to run all the features smoothly and suddenly.
- It needs a minimum of 1.3 GHz processor to run smoothly as less than that may create problems.
- The system needs to be operated by some authorized person as wrong hands can make it irresponsible.
- Rest is all up to the user’s usage will care for hardware.
- For security Antivirus is recommended.
The system is made properly and all the testing is done as per the requirements. So, the rest of the things depend on the user and no one can harm the data or the software if the proper care is done.
All the attributes are working perfectly and if any error is found then it can be removed easily.
Er Diagram of Online Loan Management System:
Entity Admin:
Every User detail needs to be stored in a proper manner with very needed attributes. All the other tasks can be performed only if the user is authenticated. After the admin has registered and is verified by the admin then the user can perform all the tasks on it.
Some of the features of the user areas the following:
Primary key User id:
The user id is system generated and unique, which can be referenced in any other entity. This mostly for recognizing it in a unique way anywhere in the program.
User name:
User name is taken from the user and fed into this it is properly validated so that no mistake happens.
Number:
The phone number is taken here to keep the member updated and the confirmation of the event is also managed through this method.
Email:
Email is taken to make member aware of new offers a new event and for future references, it is, also relevant.
Address:
Address of the user is required at the time the receptionist is registering itself on the system
Password:
The password is required to login into the system and the password must contain a special character, a numeric character, and an upper-case letter.
Entity Customer:
A customer that came to the bank for taking a loan of any a type of home loan, study loan, car loan, etc. and if the customer is new a unique and new id is given to the customer and if the customer is old then customers entry with the date is done and the further account is started.
For the new customer, the information that is required names, age, address, phone number, and the loan type and amount for which the customer has come to the bank.
Customer Name:
User name is taken from the user and fed into this it is properly validated so that no mistake happens.
Number:
The phone number is taken here to keep the member updated and the confirmation of the event is also managed through this method.
Address:
Address of the user is required at the time the receptionist is registering itself on the system.
Loan type:
The customer might have taken any type of loans like a study loan, car loan, or home loan. So, it must be added to the database.
Entity Bank:
The bank is the one who gives the loan to the banks and if the customer is fake then it is dangerous for the bank. The bank must have the knowledge about its customers, its branches and the information that is required for the bank branches is a name, address, phone number.
These attributes are explained below:
Bank name:
Bank name is taken from the user and fed into this it is properly validated so that no mistake happens.
Number:
The phone number is taken here to keep the member updated and the confirmation of the event is also managed through this method. Whenever a customer pays the installment, he must be updated, and through a phone number, it is easy.
Address:
The address of the bank is required at the time the user is registering itself on the system if the user is adding a new bank branch. So, the address is very important in every case. For customers, for the bank, and for the user.
Entity Staff:
Staff members work in the bank and the job they are doing must be according to their profile or the study they have done. The information required for registering a staff member on this system is a name, address, employee id, job, and salary.
Other attributes of entity guard are as follows:
Name:
The user must know the names of the guards who are on duty in the same prison.
Number:
The phone number is taken here to keep the member updated and the confirmation of the event is also managed through this method.
Address:
If a guard gets hurt on the duty and in case his family needs to be known about that then the guard’s address and the phone number are required.
Shift:
The user must know about the shift of the guards so that all the guards do their duty well.
Duty Hours:
Duty hours of the guards keep getting changed and it must be updated into the prison management system.
Use Case Diagram of Online Loan Management System:
In this use case, as you can see, we have our system as a box and the users who use our system are of the kind of outside the box but related to the system. There are two kinds of users one is admin and the other is user type.
Users:
There is only a single type of user which is present here in this system. This user has all the privileges but it cannot register itself on this system as the admin needs to verify the registering user. After the admin verifies the user only then he is eligible to use the system and after that, it has all the privileges.
Attributes given to the user are:
Adding customer:
The user can add a new customer and can save it. The details of customers can be seen only by the valid users.
Adding staff:
In this attribute or column, the user can add the details about the staff members.
Adding bank branches:
this entity is about the details of the bank and its branches who are giving a loan to customers.
Admin panel:
There can be only one account of admin. Admin can add the users. When a user tries to register on the prison management system then the request goes to admin and if the admin verifies only the user can register itself on it.
Other privileges that admin has been explained below:
- He can log in through his id and password. The password is made very secure so that no person can guess and make it difficult for hackers to crack.
- He has access to a profile of his own and he can search for detail of other Users and can see the detail him.
- This admin is responsible for creating and uploading the Menu card to every User in the Interface.
- He can add a user to that account and give access to handling the prison on their own.
- He can manipulate the data of any user. In this, we are showing here the interaction of the users with our system through our use case diagram.
Functional and Non-Functional Requirements of Online Loan Management System
The functional requirement of an online loan management system is that it does what it is meant for. A functional requirement describes what a software system should do, while non-functional requirements place constraints on how the system will do so. Functional requirements specify a function that a system or system component must be able to perform. It can be documented in various ways.
The most common ones are written descriptions in documents and use cases.
Few of its functional requirements of online loan management system are as given below: –
- User data should be fed into the system: this system is doing that properly in the user entity.
- Admin can verify the user and can help them register on the loan management system.
- The user can add the customers: users are able to add customers, which are taking a loan from the bank.
Non-Functional Requirements of Online Loan Management System: –
Non-functional necessities measure the other demand than practical necessities. These square measures the necessities that specify criteria which will be wont to choose the operation of a system, instead of specific behaviors. Non-functional necessities square measure within the style of “system shall be “, associate degree overall property of the system as a full or of a specific facet and not a particular operation.
The system’s overall properties remarkably mark the distinction between whether or not the event project has succeeded or unsuccessful.
Non-functional necessities – are often divided into 2 main categories:
- Execution qualities, like security and usefulness, that square measure evident at the run time.
- Evolution qualities, like liabilities, maintainability, flexibility, and quantifiable, that square measure embodied within the static structure of the code.
Non-functional necessities place restrictions on the merchandise being developed, the event method, and specify external constraints that the merchandise should meet. Our project qualifies all the criteria of functional and non-functional accordingly and the system is up to mark performance vice.
Here we need to take care of few more things before heading towards the system. The most important feature of the application world is the application’s ease of usage .application will easy to use if made while keeping in mind that the user need not think twice about searching any feature.
Everything should be made distinctive by using the color combination such that everything needed most frequently highlighted with focus colors. We can use simple layouts like the card and grid layout etc. By varying color and other UI combinations, many good intuitive interfaces can be made. Which ultimately makes the interface easy to use for a long time.
Unlike ancient style wherever the goal is to form the thing or application physically enticing, the goal of interface style is to form the user’s interaction expertise as straightforward and intuitive as attainable – what’s typically known as user-centered style. Where smart graphic/industrial style is daring and eye-catching, smart interface style is commonly delicate and invisible.
Keep things simple and consistent: –
Simple and Harmonic way making UI is very intuitive and needs to followed.
Make good use of typography: –
The typography is taken care very strictly as the need of the system.
Use colour and contrast properly: –
Color combo of lite and dark is a good way emphasise and done well in this system
Consider feedback messages: –
The feedback form is a very good way taking feedback of forms and improving the system.
Simplified forms: –
The form is made simple to fill with the clean user interface.
Loan Management System Project Documentation
Conclusion of Online Loan Management System
Finally, in the Online loan management system, the outcome of all the hard work done for the Loan management system is here. It is software that helps the user to work with the different banks and their branches easily. This software reduces the amount of manual data entry and gives greater efficiency.
The User Interface of it is very friendly and can be easily used by anyone. It also decreases the amount of time taken to write customer details and other modules. In the end, we can say that the software is performing all the tasks accurately and is doing the work for which it is made.