Title of the project

Development of an Interest Calculation system for a retail bank.

Abstract of the project

Consider a retail bank which collects money from customers and in return gives them an
interest at pre determined rate. Our objective is to automate this process of interest
calculation.

The system developed should calculate interest daily for each account having balance
more than zero at the correct interest rate. This interest calculated will be cumulatively
stored in a table which will be updated every day. Remember that the balance on which
interest is calculated daily will change because the customer may deposit or withdraw
money.

Every month the cumulative interest calculated will be credited to the customer. After
this point of time the cumulative interest stored should be set to zero because the
customer has benefited for the period specified.

Before interest is credited to the customer’s account tax should be debited from the
interest according to prevalent government laws.

Keywords
Interest Calculation system.

Generic Technology keywords

Client Server and Batch Processing Technology

Specific Technology keywords

VB, Java, Unix, Oracle, Crystal Reports.

Project type keywords

Analysis,
Design,
Implementation,
Testing (Software Engineering)

Functional components of the project

1) Data Entry screens to capture interest rates for different categories of accounts. If
interest rate is annual then daily interest calculated should be divided by 365.
2) Calculate daily interest and store cumulative interest in a table.
3) Add the cumulative interest at the end of the month to the customer’s account
balance.
4) Deduct tax when interest is paid out to the customer.

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 5) Generate reports indicating interest earned on a periodic basis.
6) Data entry screens to maintain interest rate structure.

Steps to start-off the project

Client Server and Batch Processing Technology

Requirements

Hardware requirements
Number Description Alternatives (If available)
1 Windows Desktop PC’s
2. Windows Server

Software requirements
Number Description Alternatives (If available)
1 VB Java
2 MS Access Oracle
3 Batch Scripts Unix
4 Crystal Reports Windows Excel

Manpower requirements
2 students for 6 months working part time.

Milestones and Timelines

Number Milestone Milestone Timeline Remarks

Name Description
week number Comments such as
Information from the start the weightage of
relating to the of the project this milestone in
deliverable at percentage of the
this milestone total project, etc
1 Completion of Complete 8th week 30%
High Level understanding
Design and of system.
Effort Identify the
Estimation different
software
components
to be
developed.
2 Determine Make the 10th week 10%
Hardware and decision
Software to be based on
used. different

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 parameters
like
economics,
technology
competence,
risks involved
etc.
3 Build and Test Document all 20th week 30%
all the test cases
components used and
identified. capture effort
spent.
4 Implement the Software 24th week 30%
software should be
developed installed at
end user
location and
User
Acceptance
document
should be
obtained

Guidelines and References

General Accounting Practices.

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