AffordyBOT

EMI calculation for house
EMI calculation for saving
EMI calculation for car
Landing page

Inspiration

Financing can become a tedious task time sometimes, and especially when you are low on budget and don't know what plans suit you best. In such situations if you have someone who can just directly tell you whether to buy the thing you want or the EMI plans you chose are correct for you can be very much helpful. We have tried to tackle the problem here in the project.

What it does

It collects data from the user like the Initial investment (down payment), the total amount, the interest on the EMI, and months or the price per month, and then calculate if this EMI is a good plan for you.

How we built it

We used various script languages like HTML5, CSS, and JavaScript, and additionally, we added Bootstrap and jQuery to our project. After we calculate the data from the user we check if the interest is not greater than 13%, check whether the per month Amount is not greater than 10% of your salary, Additionally, we also check whether the replay window is not greater than a certain value in certain conditions.

Challenges we ran into

Some of the challenges we ran into were like the login part with firebase. The initial plan was to add a firebase authentication and use ExpressJs for Routing but due to the lack of experience with both ExpressJs and firebase, we were not able to integrate both of them into one single project.

Accomplishments that we're proud of

We are able to calculate if the investment we are going to make is suitable for us or not and be on the safer side.

What we learned

We learned to work to together as a team, we used GitHub to manage projects which was also a big opportunity for us to manage branches, pull requests and solve conflicts with the commits. We also gained experience in ExpressJs and its routing methods and also in Bootstrap forms.

What's next for AffordyBOT

The algorithm for the calculations can be improved upon by adding precise values of the interest rates and also the factors on which the affordability of the plans is checked. More research has to be done on how to check if the plans affordable or not to improve the suggestion the bot gives. To increase the use cases and functionality, more features like tracking EMIs according to changing parameters can be done and also the function which calculates the EMIs for saving is static right now and can be made dynamic by making it save the session info of the user and send him reminders to save up the amount each month.