In recent years, significant attention has been given to understand and implement banking solutions. Theglobal competitive business environment and advancement in Information Technology and in particularinternet technologies has facilitated the carrying out of banking activities outside the brick and mortarpremise of the banks. Credit availing schemes are the core of the banking industry. Many agencies areworking on it so as to make this facility hassle free for the customers and also to minimize the lossesincurred by the banks in the form of bad debts. The challenge has been, and still is, to recognize,communicate and steadily improvise the banking solutions. The internet technologies are a potentialcandidates to overcome these challenges. The paper describes LoanOnt Ontology with the associatedimplementation toolset for creating an interoperable and sustainable personal loan calculation solutionwhich would provide an intercommunication platform to facilitate integration and interoperation ofinformation across interacting applications in banking scenarios.
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