Loan Collection and Recovery System Java Project

PROBLEM DEFINITION 

• FINANCE Office is a firm whose head office is located at Hyderabad and its Branch is located at Ameerpet.
• The Branch has three Agencies which collects the loan from Customer.
• The Main work is carried out at Branch level is Loan Collection and Recovery.
• In Recovery it collects three types of Loan that are Auto, Personal, and Two-Wheeler.
• The Raw data from main Branch is allocated to its Branch. The raw data is known as Delinquency. Then this Delinquency is sorted according to Loan Account No. (LAN) and then this Delinquency are called as final Delinquency.
• Again this data is sorted according to Slab wise i.e. period wise and Amount wise. Finally this data is given to recovery Agencies for collection.
• For monthly collection of Loan Installment Receipt is given to the Customer.
• At the end of the day it is necessary to update manually with new Amount.
• In the case of Penalty charges additional receipt is given to the customer and updates manually on Register.
• At the end of each month the Branch updates their data to the head office and the data/information is stored at the Branch with Security.

EXISTING SYSTEM

Manual operating of the current system is having certain drawbacks those are:

• Difficult for anyone to remember details of each customer.
• For every time it is needed to sort the data from unsorted data which is very time consuming.
• All system operated manually.
• There may be human error or mistakes occurs.
• Updating  problem.
• Loss of data at the time of sorting.
• Lots of paper work.
• Duplication of the records occurs.

PROPOSED SYSTEM 

• The system reduces human efforts and errors.
• System works more efficiently than existing system.
• Time consumption is less.
• The new system overcomes the manual working of existing system.
• Reports are daily generated.
• System maintains separate database.
• Loss of data and data redundancy problem is avoided.
• Database is updated automatically.
• Loan transaction information from agency is updated daily and the updated information from branch is updated to main branch monthly.
• It provides better security than existing system.

FEASIBILITY STUDY 

Technical feasibility

Hardware Requirement

• System requires single computer with configuration of P4 or  higher processor 1.80 GHz.
• 80- GB HDD minimum.
• 512 – RAM.

Software Requirement

• System has Front end JAVA and Back end MS – ACCESS.
• O.S- Windows XP
• Java(1.4 or higher)
• Microsoft Access 2007