19

Software Requirements Specification (SRS) for Personal Loan Eligibility Calculator

Introduction

Purpose:

The purpose of this document is to define the requirements for the development of a Personal Loan Eligibility Calculator. This web-based application aims to assess the eligibility for personal loans based on income, credit score, and other relevant factors.

Scope:

The Personal Loan Eligibility Calculator will provide users with an interface to input personal and financial details. The application will assess the eligibility for personal loans and provide information on the loan amount and terms that the user may qualify for.

System Overview

System Description:

The system will be a client-server application. Users will access the Personal Loan Eligibility Calculator through a web browser. The server will handle the logic for eligibility assessments.

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:

Assess Personal Loan Eligibility:

  • Users can input personal and financial details, including income, credit score, employment status, and existing debts.
  • The system will assess the eligibility for personal loans based on the provided information.
  • Users will receive information on the potential loan amount and terms they may qualify for.

 Functional Requirements:

Input:

The system shall allow users to enter the following details:

  • Monthly Income (in INR)
  • Credit Score
  • Employment Status
  • Existing Debts (if any)

Assessment:

  • The system shall assess personal loan eligibility based on a predefined set of criteria, considering income, credit score, employment status, and existing debts.
  • The assessment criteria and thresholds should be configurable.

Output:

  • The system shall display the eligibility status, potential loan amount, and terms to the user.

External Interface Requirements

User Interfaces:

  • The user interface shall consist of input fields for monthly income, credit score, employment status, and existing debts, along with a “Check Eligibility” button.
  • The eligibility status, potential loan amount, and terms 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 eligibility assessments.

Performance Requirements

Response Time:

The system should provide a response time of under 5 seconds for a typical eligibility check.

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 to ensure data security.

Data Protection:

User data, if stored, should be securely protected.

Quality Attributes

Reliability:

The application should provide accurate assessments of personal loan eligibility 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 income levels, credit scores, employment statuses, and existing debts to ensure accurate eligibility assessments.

Test Case 1:

  • Inputs: Monthly Income = 50,000 INR, Credit Score = 700, Employment Status = Salaried, Existing Debts = None.
  • Expected Output: Eligible for a personal loan of up to 2,00,000 INR with a tenure of 24 months.

Test Case 2:

  • Inputs: Monthly Income = 1,00,000 INR, Credit Score = 600, Employment Status = Self-employed, Existing Debts = 50,000 INR.
  • Expected Output: Not eligible for a personal loan.

Test Case 3:

  • Inputs: Monthly Income = 75,000 INR, Credit Score = 750, Employment Status = Salaried, Existing Debts = None.
  • Expected Output: Eligible for a personal loan of up to 3,50,000 INR with a tenure of 36 months.

Acceptance Criteria:

The application is considered successful if it produces correct eligibility status, potential loan amount, and terms based on the provided personal and financial details.

Project Timeline

Milestones:

Design, Development, Testing, Deployment.

Development Phases:

Frontend development, Backend development, Testing, Deployment.

Glossary

None

Database Structure

Tables:

Personal_Loan_Eligibility_Records:

  • RecordID (Primary Key, Auto-increment)
  • MonthlyIncome (Decimal)
  • CreditScore (Integer)
  • EmploymentStatus (String)
  • ExistingDebts (Decimal)
  • EligibilityStatus (String)
  • LoanAmount (Decimal)
  • LoanTerms (String)
  • AssessmentDate (DateTime)

Conclusion

This SRS document outlines the requirements for the Personal Loan Eligibility 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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