Age should also be considered in awarding loans by the bank. It is very interesting to find many of those who have defaulted on their loan repayment are between the ages of 21-33 with those beyond that age doing well in their payment. Only 63 customers between the age of 21 and 33 have been repaying their loans as compared to 100 who are between the ages of 33 and 55. Therefore, itâ€™s important to consider the age of the customers as the decision to award a bank loan is considered.
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