38 1

Software Requirements Specification (SRS) for Home Loan EMI Calculator

Introduction

Purpose:

The purpose of this document is to outline the requirements for the development of a Home Loan EMI Calculator application. This application computes monthly home loan EMIs, including principal and interest components, aiding users in planning their home loan repayments.

Scope:

The Home Loan EMI Calculator will provide users with a tool to estimate their monthly loan repayments, helping them make informed decisions about home loan affordability. Users will input details such as loan amount, interest rate, tenure, and the system will calculate and display the monthly EMIs.

System Overview

System Description:

The Home Loan EMI Calculator will be a web-based application accessible through a browser. It aims to provide users with a straightforward interface to input home loan details and receive accurate EMI calculations.

System Architecture:

The application will follow a client-server architecture, with the client being the web browser and the server handling the EMI calculation logic.

Functional Requirements

Use Cases:

Compute Home Loan EMI:

  • Users can input details such as loan amount, interest rate, tenure, and any additional parameters (e.g., prepayments).
  • The system will calculate and display the monthly EMI, including principal and interest components.

Functional Requirements:

Input:

The system shall accept the following input:

  • Loan Amount (in INR)
  • Interest Rate (in percentage)
  • Loan Tenure (in months or years)
  • Additional Parameters (e.g., prepayments, if any)

Calculation:

  • The system shall use the standard EMI formula to calculate the monthly EMI, including principal and interest components.

Output:

  • The system shall display the calculated monthly EMI, principal component, and interest component to the user.

Non-Functional Requirements:

  • The system should provide a response time of under 2 seconds.
  • The application should be accessible on common web browsers (Chrome, Firefox, Safari).

External Interface Requirements

User Interfaces:

  • The user interface shall include input fields for loan amount, interest rate, loan tenure, and additional parameters, along with a “Calculate” button.
  • The calculated monthly EMI, principal component, and interest component shall be displayed prominently.

Hardware Interfaces:

  • The system should be compatible with standard computing hardware.

Software Interfaces:

  • The application shall be developed using HTML, CSS, and JavaScript.
  • The server-side logic can be implemented using a backend framework (e.g., Node.js, Django).

Communication Interfaces:

  • The application will communicate with the server for the EMI calculation and display of results.

Performance Requirements

Response Time:

The system should respond within 2 seconds for a typical user input.

Throughput:

The application should handle at least 100 simultaneous users.

System Constraints

Regulatory Requirements:

The application should comply with relevant financial regulations.

Hardware Limitations:

The system should be compatible with devices with standard web-browsing capabilities.

Security Requirements

Authentication:

The application may not require user authentication as it’s a public tool.

Data Protection:

The system should not store or retain any user input data after the calculation.

Quality Attributes

Reliability:

The application should produce accurate results based on the provided input.

Maintainability:

The code should be well-documented for ease of maintenance.

Usability:

The user interface should be intuitive, requiring minimal guidance.

Testing Requirements

Test Cases:

Test cases should cover various loan scenarios and additional parameters to ensure accurate EMI calculations.

Test Case 1:

  • Inputs: Loan Amount = 20,00,000 INR, Interest Rate = 8%, Loan Tenure = 15 years.
  • Expected Output: Monthly EMI ≈ 18,456 INR, Principal Component ≈ 15,000 INR, Interest Component ≈ 3,456 INR

Test Case 2:

  • Inputs: Loan Amount = 30,00,000 INR, Interest Rate = 7.5%, Loan Tenure = 20 years.
  • Expected Output: Monthly EMI ≈ 24,775 INR, Principal Component ≈ 20,000 INR, Interest Component ≈ 4,775 INR

Test Case 3:

  • Inputs: Loan Amount = 15,00,000 INR, Interest Rate = 9%, Loan Tenure = 10 years.
  • Expected Output: Monthly EMI ≈ 19,334 INR, Principal Component ≈ 12,000 INR, Interest Component ≈ 7,334 INR.

Acceptance Criteria:

The application is considered successful if it produces correct monthly EMI amounts, principal components, and interest components based on the standard EMI calculation formula.

Project Timeline

Milestones:

Design, Development, Testing, Deployment.

Development Phases:

Frontend development, Backend development, Testing, Deployment.

Glossary

EMI: Equated Monthly Installment

Database Structure

Tables:

Home_Loan_EMI_Records:

  • RecordID (Primary Key, Auto-increment)
  • LoanAmount (Decimal)
  • InterestRate (Decimal)
  • LoanTenure (Integer)
  • AdditionalParameters (Text)
  • MonthlyEMI (Decimal)
  • PrincipalComponent (Decimal)
  • InterestComponent (Decimal)
  • CalculationDate (DateTime)

Conclusion

This extended SRS document provides a more detailed overview of the Home Loan EMI Calculator application, including the database structure and additional test cases. It should be reviewed and approved by relevant stakeholders before proceeding with the development phase.

146 comments
  1. Hello there, just became aware of your blog through Google, and found that
    it is really informative. I am going to watch out for
    brussels. I’ll appreciate if you continue this in future.
    Many people will be benefited from your writing. Cheers!

    Lista escape roomów

  2. You made some really good points there. I looked on the net for more info about the issue and found most people will go along with your views on this website.

  3. This is the right site for anybody who really wants to understand this topic. You realize a whole lot its almost hard to argue with you (not that I personally will need to…HaHa). You definitely put a new spin on a topic that has been discussed for decades. Excellent stuff, just wonderful.

  4. Having read this I believed it was rather enlightening. I appreciate you finding the time and effort to put this informative article together. I once again find myself spending a lot of time both reading and leaving comments. But so what, it was still worthwhile.

  5. This is a great tip particularly to those new to the blogosphere. Brief but very accurate info… Appreciate your sharing this one. A must read post.

  6. A motivating discussion is definitely worth comment. There’s no doubt that that you need to publish more about this subject matter, it may not be a taboo matter but typically people do not discuss these subjects. To the next! All the best!

  7. A fascinating discussion is worth comment. I think that you should write more on this topic, it may not be a taboo matter but usually people do not talk about such issues. To the next! Cheers.

  8. Hi there! This blog post could not be written any better! Reading through this post reminds me of my previous roommate! He continually kept preaching about this. I most certainly will forward this information to him. Fairly certain he’s going to have a good read. Many thanks for sharing!

  9. Next time I read a blog, I hope that it doesn’t fail me as much as this one. I mean, Yes, it was my choice to read, however I really thought you would have something helpful to say. All I hear is a bunch of crying about something that you can fix if you were not too busy searching for attention.

  10. I blog quite often and I truly appreciate your information. This great article has really peaked my interest. I am going to bookmark your blog and keep checking for new details about once a week. I subscribed to your RSS feed too.

  11. I’m amazed, I have to admit. Rarely do I encounter a blog that’s both equally educative and interesting, and without a doubt, you’ve hit the nail on the head. The problem is an issue that not enough people are speaking intelligently about. I’m very happy that I came across this in my hunt for something concerning this.

  12. Oh my goodness! Impressive article dude! Thanks, However I am having difficulties with your RSS. I don’t understand the reason why I can’t subscribe to it. Is there anyone else having similar RSS issues? Anyone that knows the answer can you kindly respond? Thanks.

  13. I’m pretty pleased to find this site. I wanted to thank you for ones time for this particularly wonderful read!! I definitely enjoyed every bit of it and I have you bookmarked to check out new things on your web site.

  14. An outstanding share! I have just forwarded this onto a colleague who has been conducting a little homework on this. And he in fact ordered me dinner due to the fact that I stumbled upon it for him… lol. So let me reword this…. Thank YOU for the meal!! But yeah, thanx for spending the time to talk about this matter here on your site.

  15. I need to to thank you for this great read!! I absolutely loved every little bit of it. I’ve got you bookmarked to check out new stuff you post…

  16. Oh my goodness! Incredible article dude! Many thanks, However I am going through issues with your RSS. I don’t know the reason why I am unable to subscribe to it. Is there anybody having similar RSS problems? Anyone who knows the solution will you kindly respond? Thanks!!

  17. Hello there! This post could not be written much better! Looking through this post reminds me of my previous roommate! He always kept talking about this. I most certainly will forward this article to him. Fairly certain he’s going to have a good read. Thank you for sharing!

  18. The next time I read a blog, Hopefully it won’t disappoint me as much as this particular one. I mean, Yes, it was my choice to read, however I truly believed you would have something useful to say. All I hear is a bunch of moaning about something that you could possibly fix if you were not too busy looking for attention.

  19. Hi there! I could have sworn I’ve been to this site before but after going through some of the articles I realized it’s new to me. Nonetheless, I’m definitely happy I found it and I’ll be book-marking it and checking back often.

  20. Can I simply say what a comfort to find someone who truly knows what they are discussing over the internet. You definitely know how to bring a problem to light and make it important. More and more people need to check this out and understand this side of your story. I was surprised that you aren’t more popular because you certainly have the gift.

  21. You are so interesting! I don’t believe I have read through anything like this before. So nice to discover somebody with a few genuine thoughts on this issue. Really.. thanks for starting this up. This website is something that is needed on the internet, someone with a bit of originality.

  22. I blog quite often and I genuinely appreciate your information. Your article has truly peaked my interest. I’m going to take a note of your site and keep checking for new details about once per week. I opted in for your Feed as well.

  23. Hi there, I do believe your blog could be having web browser compatibility problems. When I take a look at your web site in Safari, it looks fine however when opening in Internet Explorer, it has some overlapping issues. I simply wanted to give you a quick heads up! Besides that, excellent website!

  24. I absolutely love your site.. Excellent colors & theme. Did you build this web site yourself? Please reply back as I’m trying to create my own site and want to know where you got this from or just what the theme is named. Thank you!

  25. Excellent web site you have here.. It’s hard to find quality writing like yours these days. I seriously appreciate individuals like you! Take care!!

  26. Aw, this was an incredibly nice post. Taking a few minutes and actual effort to make a good article… but what can I say… I hesitate a whole lot and don’t seem to get nearly anything done.

  27. Good post. I learn something totally new and challenging on websites I stumbleupon on a daily basis. It will always be useful to read through content from other authors and practice something from their websites.

  28. I’m amazed, I must say. Seldom do I encounter a blog that’s both equally educative and amusing, and let me tell you, you’ve hit the nail on the head. The issue is something that not enough men and women are speaking intelligently about. I am very happy I found this during my hunt for something relating to this.

  29. Can I just say what a comfort to uncover somebody who really knows what they’re talking about on the internet. You actually know how to bring a problem to light and make it important. More and more people should look at this and understand this side of the story. I was surprised you are not more popular given that you surely possess the gift.

  30. I’m impressed, I must say. Rarely do I encounter a blog that’s both educative and engaging, and without a doubt, you’ve hit the nail on the head. The issue is something not enough folks are speaking intelligently about. I’m very happy that I stumbled across this during my search for something concerning this.

  31. Hi! Do you know if they make any plugins to help with SEO? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very
    good results. If you know of any please share. Cheers!

    I saw similar art here: Eco bij

  32. When I initially left a comment I appear to have clicked the -Notify me when new comments are added- checkbox and from now on every time a comment is added I get four emails with the exact same comment. There has to be a way you can remove me from that service? Appreciate it.

  33. You’re so cool! I don’t suppose I have read through anything like this before. So good to discover another person with original thoughts on this subject matter. Seriously.. thank you for starting this up. This web site is one thing that is needed on the internet, someone with a little originality.

  34. Good post. I learn something new and challenging on websites I stumbleupon every day. It will always be interesting to read through articles from other authors and use a little something from their websites.

  35. I’m amazed, I have to admit. Rarely do I encounter a blog that’s equally educative and interesting, and let me tell you, you have hit the nail on the head. The problem is something not enough men and women are speaking intelligently about. I am very happy I came across this in my search for something concerning this.

  36. I would like to thank you for the efforts you have put in writing this website. I am hoping to view the same high-grade blog posts from you later on as well. In truth, your creative writing abilities has encouraged me to get my very own site now 😉

  37. Right here is the perfect site for anyone who wishes to understand this topic. You know a whole lot its almost tough to argue with you (not that I personally would want to…HaHa). You definitely put a brand new spin on a topic that has been written about for decades. Great stuff, just excellent.

  38. Hello there! This post could not be written any better! Looking through this article reminds me of my previous roommate! He continually kept preaching about this. I’ll forward this post to him. Pretty sure he will have a very good read. Thanks for sharing!

  39. An outstanding share! I’ve just forwarded this onto a co-worker who was conducting a little homework on this. And he in fact bought me dinner simply because I found it for him… lol. So let me reword this…. Thank YOU for the meal!! But yeah, thanks for spending the time to talk about this subject here on your blog.

  40. After I originally left a comment I seem to have clicked the -Notify me when new comments are added- checkbox and from now on every time a comment is added I recieve 4 emails with the same comment. Perhaps there is a means you can remove me from that service? Appreciate it.

  41. After I originally commented I seem to have clicked the -Notify me when new comments are added- checkbox and from now on whenever a comment is added I recieve four emails with the same comment. There has to be a way you are able to remove me from that service? Thank you.

  42. After looking into a number of the articles on your website, I really appreciate your way of blogging. I book-marked it to my bookmark site list and will be checking back in the near future. Take a look at my website too and tell me how you feel.

  43. I need to to thank you for this good read!! I absolutely enjoyed every little bit of it. I have got you saved as a favorite to check out new stuff you post…

  44. I’m extremely pleased to discover this website. I need to to thank you for your time for this particularly wonderful read!! I definitely loved every part of it and i also have you book marked to check out new stuff in your site.

  45. Oh my goodness! Awesome article dude! Thank you so much, However I am encountering troubles with your RSS. I don’t understand the reason why I cannot join it. Is there anyone else having the same RSS issues? Anyone who knows the answer will you kindly respond? Thanks!

  46. I seriously love your website.. Very nice colors & theme. Did you develop this web site yourself? Please reply back as I’m wanting to create my own personal site and would like to know where you got this from or just what the theme is called. Thanks!

  47. Greetings! Very helpful advice in this particular post! It is the little changes that make the most important changes. Many thanks for sharing!

  48. Oh my goodness! Impressive article dude! Many thanks, However I am going through issues with your RSS. I don’t know why I can’t join it. Is there anyone else getting the same RSS problems? Anyone who knows the solution will you kindly respond? Thanks!

  49. Howdy! This post could not be written much better! Going through this post reminds me of my previous roommate! He always kept talking about this. I’ll send this post to him. Fairly certain he’s going to have a very good read. Many thanks for sharing!

  50. I need to to thank you for this fantastic read!! I certainly enjoyed every bit of it. I’ve got you bookmarked to check out new stuff you post…

  51. Hi, I do believe this is an excellent site. I stumbledupon it 😉 I may revisit yet again since i have bookmarked it. Money and freedom is the greatest way to change, may you be rich and continue to guide other people.

  52. Hi, I do believe this is an excellent web site. I stumbledupon it 😉 I will return yet again since I book marked it. Money and freedom is the greatest way to change, may you be rich and continue to guide others.

  53. I’m amazed, I must say. Seldom do I encounter a blog that’s equally educative and entertaining, and let me tell you, you have hit the nail on the head. The issue is an issue that too few people are speaking intelligently about. I am very happy I came across this in my search for something concerning this.

  54. You made some good points there. I checked on the net for more information about the issue and found most individuals will go along with your views on this web site.

  55. I was excited to discover this page. I need to to thank you for ones time just for this wonderful read!! I definitely savored every part of it and i also have you bookmarked to look at new things on your blog.

  56. After I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and from now on each time a comment is added I get 4 emails with the same comment. Is there a way you can remove me from that service? Thanks a lot.

  57. Everything is very open with a very clear explanation of the challenges. It was truly informative. Your site is very helpful. Many thanks for sharing.

  58. Right here is the right website for everyone who really wants to understand this topic. You realize so much its almost tough to argue with you (not that I really would want to…HaHa). You certainly put a new spin on a subject that has been written about for a long time. Excellent stuff, just great.

  59. This is a topic that is near to my heart… Best wishes! Exactly where are your contact details though?

  60. Howdy! This post could not be written any better! Looking at this post reminds me of my previous roommate! He constantly kept talking about this. I most certainly will send this article to him. Pretty sure he will have a great read. I appreciate you for sharing!

  61. You’re so awesome! I don’t think I’ve truly read something like this before. So wonderful to discover somebody with a few genuine thoughts on this issue. Seriously.. many thanks for starting this up. This web site is one thing that is required on the internet, someone with a little originality.

  62. A fascinating discussion is worth comment. There’s no doubt that that you ought to write more on this topic, it may not be a taboo subject but usually people don’t speak about such topics. To the next! Best wishes!

  63. Having read this I believed it was very enlightening. I appreciate you spending some time and energy to put this article together. I once again find myself spending way too much time both reading and commenting. But so what, it was still worthwhile!

  64. I was extremely pleased to discover this great site. I want to to thank you for your time just for this wonderful read!! I definitely really liked every bit of it and i also have you book-marked to check out new things in your website.

  65. I’m extremely pleased to find this great site. I want to to thank you for ones time due to this wonderful read!! I definitely savored every part of it and I have you book marked to check out new information in your site.

  66. The very next time I read a blog, I hope that it doesn’t fail me just as much as this particular one. I mean, I know it was my choice to read through, but I actually believed you would have something interesting to say. All I hear is a bunch of whining about something that you can fix if you were not too busy searching for attention.

  67. Can I simply say what a comfort to find somebody that genuinely knows what they are discussing on the internet. You definitely understand how to bring an issue to light and make it important. More people should check this out and understand this side of your story. I can’t believe you aren’t more popular since you surely have the gift.

  68. The very next time I read a blog, Hopefully it doesn’t fail me just as much as this one. I mean, Yes, it was my choice to read through, but I genuinely believed you’d have something useful to talk about. All I hear is a bunch of complaining about something you can fix if you weren’t too busy looking for attention.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like
46

Software Requirements Specification (SRS) for EMI Calculator

Software Requirements Specification (SRS) for EMI Calculator Introduction Purpose: The purpose of…
6

Software Requirements Specification (SRS) for Loan Tenure Calculator

Software Requirements Specification (SRS) for Loanecur Tenure Calculator Introduction Purpose: The purpose…
38

Software Requirements Specification (SRS) for Car Loan EMI Calculator

Software Requirements Specification (SRS) for Car Loan EMI Calculator Introduction Purpose: The…
29

Software Requirements Specification (SRS) for Lump Sum Investment Calculator

Software Requirements Specification (SRS) for Lump Sum Investment Calculator Introduction Purpose: The…