17

Software Requirements Specification (SRS) for Loan Eligibility Calculator

Introduction

Purpose:

The purpose of this document is to outline the requirements for the development of a Loan Eligibility Calculator application. This application assesses the loan amount a user is eligible for based on income, expenses, and other factors.

Scope:

The Loan Eligibility Calculator will provide users with a tool to estimate their eligibility for a loan by considering various financial parameters. Users will input information related to income, expenses, and other relevant factors, and the system will calculate and display the maximum loan amount for which they are eligible.

System Overview

System Description:

The Loan Eligibility Calculator will be a web-based application accessible through a browser. It aims to provide users with a quick and accurate assessment of their loan eligibility based on their financial information.

System Architecture:

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

Functional Requirements

Use Cases:

Assess Loan Eligibility:

  • Users can input information such as monthly income, monthly expenses, existing loan obligations, and other relevant financial details.
  • The system will calculate and display the maximum loan amount for which the user is eligible.

Functional Requirements:

Input:

The system shall accept the following input:

  • Monthly Income (in INR)
  • Monthly Expenses (in INR)
  • Existing Loan Obligations (if any, in INR)
  • Other Relevant Financial Information

Calculation:

  • The system shall use a predefined algorithm to assess loan eligibility based on the provided input.

Output:

  • The system shall display the calculated maximum loan amount for which the user is eligible.

Non-Functional Requirements:

  • The system should provide a response time of under 3 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 monthly income, monthly expenses, existing loan obligations, and other relevant financial information, 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 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 calculation and display of results.

Performance Requirements

Response Time:

The system should respond within 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 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 input scenarios to ensure accurate loan eligibility assessments.

Test Case 1:

  • Inputs: Monthly Income = 60,000 INR, Monthly Expenses = 25,000 INR, Existing Loan Obligations = 10,000 INR.
  • Expected Output: Maximum Loan Eligibility ≈ 2,00,000 INR

Test Case 2:

  • Inputs: Monthly Income = 1,00,000 INR, Monthly Expenses = 40,000 INR, Existing Loan Obligations = 15,000 INR.
  • Expected Output: Maximum Loan Eligibility ≈ 5,00,000 INR

Test Case 3:

  • Inputs: Monthly Income = 80,000 INR, Monthly Expenses = 30,000 INR, Existing Loan Obligations = 5,000 INR.
  • Expected Output: Maximum Loan Eligibility ≈ 3,50,000 INR

Acceptance Criteria:

The application is considered successful if it produces correct maximum loan eligibility amounts based on the predefined assessment algorithm.

Project Timeline

Milestones:

Design, Development, Testing, Deployment.

Development Phases:

Frontend development, Backend development, Testing, Deployment.

Glossary

None

Database Structure

Tables:

Loan_Eligibility_Records:

  • RecordID (Primary Key, Auto-increment)
  • MonthlyIncome (Decimal)
  • MonthlyExpenses (Decimal)
  • ExistingLoanObligations (Decimal)
  • OtherFinancialInformation (Text)
  • MaxLoanEligibility (Decimal)
  • AssessmentDate (DateTime)

Conclusion

This extended SRS document provides a more detailed overview of the Loan Eligibility 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.

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