Software Requirements Specification (SRS) for Loan Affordability Calculator
Introduction
Purpose:
The purpose of this document is to define the requirements for the development of a Loan Affordability Calculator. This web-based application aims to help users determine the loan amount they can afford based on income, expenses, and the debt-to-income ratio.
Scope:
The Loan Affordability Calculator will provide users with an interface to input details such as income, expenses, and existing debts. The application will calculate and display the maximum loan amount a user can afford based on their financial information.
System Overview
System Description:
The system will be a client-server application. Users will access the Loan Affordability Calculator through a web browser. The server will handle the logic for loan affordability calculations.
System Architecture:
The application will follow a three-tier architecture: presentation layer (client-side browser), application layer (server-side processing), and data layer (storage and retrieval of data).
Functional Requirements
Use Cases:
Determine Loan Affordability:
- Users can input details such as monthly income, monthly expenses, and existing debts.
- The system will calculate and display the maximum loan amount the user can afford based on the debt-to-income ratio.
Functional Requirements:
Input:
- The system shall allow users to enter the following details:
-
- Monthly Income (Decimal)
- Monthly Expenses (Decimal)
- Existing Debts (Decimal)
Calculation:
- The system shall calculate the maximum loan amount based on the debt-to-income ratio and user-input details.
Output:
- The system shall display the calculated maximum loan amount to the user.
External Interface Requirements
User Interfaces:
- The user interface shall consist of input fields for monthly income, monthly expenses, and existing debts, along with a “Calculate” button.
- The calculated maximum loan amount shall be displayed prominently.
Hardware Interfaces:
The system should be compatible with standard computing hardware.
Software Interfaces:
- The application will be developed using HTML, CSS, and JavaScript for the frontend.
- The backend can be implemented using a server-side framework (e.g., Node.js, Django) with a database for data storage.
Communication Interfaces:
The application will communicate with the server for loan affordability calculations.
Performance Requirements
Response Time:
The system should provide a response time of under 3 seconds for a typical user input.
Throughput:
The application should handle at least 50 simultaneous users.
System Constraints
Regulatory Requirements:
The application should comply with relevant financial regulations.
Hardware Limitations:
The system should be compatible with devices supporting standard web browsers.
Security Requirements
Authentication:
User authentication may be implemented for personalized features.
Data Protection:
User data, if stored, should be securely protected.
Quality Attributes
Reliability:
The application should provide accurate loan affordability calculations based on the entered details.
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 scenarios with different monthly incomes, expenses, and existing debts to ensure accurate loan affordability calculations.
Test Case 1:
- Inputs: Monthly Income = 50,000 INR, Monthly Expenses = 30,000 INR, Existing Debts = 10,000 INR.
- Expected Output: Maximum Loan Amount ≈ 5,000 INR.
Test Case 2:
- Inputs: Monthly Income = $4,000, Monthly Expenses = $2,500, Existing Debts = $1,000.
- Expected Output: Maximum Loan Amount ≈ $500.
Test Case 3:
- Inputs: Monthly Income = 40,000 INR, Monthly Expenses = 25,000 INR, Existing Debts = 8,000 INR.
- Expected Output: Maximum Loan Amount ≈ 7,000 INR.
Acceptance Criteria:
- The application is considered successful if it produces correct maximum loan amounts based on the provided details.
Project Timeline
Milestones:
Design, Development, Testing, Deployment.
Development Phases:
Frontend development, Backend development, Testing, Deployment.
Glossary
None
Database Structure
Tables:
LoanAffordability_Calculator_Records:
- RecordID (Primary Key, Auto-increment)
- UserID (Foreign Key, if user accounts are implemented)
- MonthlyIncome (Decimal)
- MonthlyExpenses (Decimal)
- ExistingDebts (Decimal)
- MaxLoanAmount (Decimal)
- CalculationDate (DateTime)
Conclusion
This SRS document outlines the requirements for the Loan Affordability Calculator. It serves as a guide for the development team and ensures that the application meets the specified criteria. Review and approval by relevant stakeholders are essential before proceeding with the development phase.