The RBI classifies NBFCs by activity: NBFC-ICC (investment and credit companies — the mainstream lender), NBFC-MFI (microfinance), NBFC-P2P (peer-to-peer platforms), NBFC-AA (account aggregators), and HFC (housing finance, regulated with the NHB). Each category has its own registration conditions under s.45-IA of the RBI Act 1934 and its own Master Directions, and the selector matches your business model to the right one.

The general minimum NOF is ₹2 crore under s.45-IA of the RBI Act 1934; NBFC-ICC and NBFC-MFI require ₹10 crore; housing finance companies require ₹20 crore under the NHB's HFC framework; and P2P and account aggregators carry a ₹2 crore NOF. The selector shows the figure that applies to your category before you begin the application.

The RBI's scale-based regulation (SBR) framework tiers NBFCs by size and activity into base, middle, upper, and top layers — an AUM above ₹1,000 crore pushes a company toward the upper layer with enhanced governance requirements, and ₹50 crore+ AUM brings middle-layer planning obligations. The selector flags which layer your AUM implies so you budget for the right compliance intensity.

No — only an NBFC that is specifically classified as deposit-taking and holds the corresponding RBI authorisation can accept public deposits, under s.45-IA and the deposit provisions of the RBI Act 1934. Most fintech lenders are non-deposit-taking NBFCs, and the selector keeps that boundary explicit so the model doesn't drift into an unregulated deposit scheme.

It asks about your core activity — lending, microfinance, P2P marketplace, account aggregation, or housing finance — and your AUM, then maps you to the category, NOF requirement, and SBR layer. RBI registration, the principal business test, and ownership fitness still need professional review before you file; the tool is a planning aid, not an application.