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Software Requirements Specification (SRS) for Loanecur Tenure Calculator

Introduction

Purpose:

The purpose of this document is to define the requirements for the development of a Loan Tenure Calculator. This web-based application aims to assist users in determining the optimal loan tenure based on their repayment capacity.

Scope:

The Loan Tenure Calculator will provide users with an interface to input details such as loan amount, interest rate, monthly income, and other relevant parameters. The application will calculate and display the optimal loan tenure.

System Overview

System Description:

The system will be a client-server application. Users will access the Loan Tenure Calculator through a web browser. The server will handle the logic for loan tenure 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:

Calculate Optimal Loan Tenure:

  • Users can input details such as loan amount, interest rate, monthly income, and other relevant parameters.
  • The system will calculate and display the optimal loan tenure based on the user’s repayment capacity.

Functional Requirements:

Input:

  • The system shall allow users to enter the following details:
    • Loan Amount (Decimal)
    • Interest Rate (Decimal)
    • Monthly Income (Decimal)
    • Other Relevant Parameters (if applicable)

Calculation:

  • The system shall calculate the optimal loan tenure based on the repayment capacity and user-input details.

Output:

  • The system shall display the calculated optimal loan tenure to the user.

External Interface Requirements

User Interfaces:

  • The user interface shall consist of input fields for loan amount, interest rate, monthly income, and other relevant parameters, along with a “Calculate” button.
  • The calculated optimal loan tenure 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 tenure 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 tenure 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 loan amounts, interest rates, monthly incomes, and other parameters to ensure accurate optimal loan tenure calculations.

Test Case 1:

  • Inputs: Loan Amount = 30,000 INR, Interest Rate = 8%, Monthly Income = 5,000 INR.
  • Expected Output: Optimal Loan Tenure ≈ 8 months.

Test Case 2:

  • Inputs: Loan Amount = $20,000, Interest Rate = 6%, Monthly Income = $4,000.
  • Expected Output: Optimal Loan Tenure ≈ 7 months.

Test Case 3:

  • Inputs: Loan Amount = 25,000 INR, Interest Rate = 7%, Monthly Income = 6,000 INR.
  • Expected Output: Optimal Loan Tenure ≈ 9 months.

Acceptance Criteria:

  • The application is considered successful if it produces correct optimal loan tenure estimates 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:

LoanTenure_Calculator_Records:

  • RecordID (Primary Key, Auto-increment)
  • UserID (Foreign Key, if user accounts are implemented)
  • LoanAmount (Decimal)
  • InterestRate (Decimal)
  • MonthlyIncome (Decimal)
  • OtherParameters (Text)
  • OptimalLoanTenure (Integer)
  • CalculationDate (DateTime)

Conclusion

This SRS document outlines the requirements for the Loan Tenure 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.

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