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As the needs of people are increasing, the demand for loans in banks is also frequently getting higher every day. Usually, banks process the loan of any applicant after the verification and checking of its eligibility which is a tough and time-taking process. In some cases, some applicants default in payment resulting in loss of capital in banks. Machine learning approach would be an ideal solution to reduce human efforts and effective decision making in the loan approval process by implementation of machine learning tools using classification algorithms to predict the deserving applicants for loan approval. In this paper, we build a system to construct a model by training the system with records and approval results of the previously applied loan applicants. Model building is done by classification algorithms on the basis on some predictive features that categorize an outcome value as approve or disapprove. We found …