Loan Amortizer

ABSTRACT

                                         The life of a person is so hectic that he has to look after his family affairs as well as grow along with the rest of the society. In this struggle, sometimes he has to go for a loan to make small purchases for his family and repay the loan as per the schedule. In this case, small companies lending the loan on easy installments would be his choice. Loan Amortizer is a software that enables a lending company like  Citi Financials, Fullerton etc to promote a transparent and secured environment in lending the loans as well as their recovery process.

The administrator of this software can just view the information besides adding new users and employees and changing their passwords. Thus he cannot interfere with the loan process or payments. This part is dealt by manager who has authority to issue the loan to an individual. He can provide information on which type of loan being issued and to whom.

Accountant and agents of the finance company can view all the details of the customer. When a customer makes a payment, they can store the payment details into the database. Thus, Loan Amortizer is an online software application which fulfills all the requirements of a typical finance company. It provides the interface to users in a graphical way to manage the daily transactions as well as historical data. The users can provide a clear picture to the customers regarding how much is already paid and how much is still pending. By extending this software, it is possible to make the customer to directly view his transactions right from beginning. This will eliminate any mischief played by any third party person. Also provides the management reports like Released Loans, Payments, Rejected Applications, Submitted Papers and Finance Report.

This application maintains the centralized database so that any changes done at a location reflects immediately. This is an online tool so more than one user can login into system and use the tool simultaneously.

The aim of this application is to reduce the manual effort needed to manage transactions and historical data used in a finance company. Also this application provides an interface to users to view the details like the Released Loans and Finance Report etc.

Technologies used: J2SE, Servlets, JSP, JDBC and Java Script