PensionBox BlogsAccount Aggregator : What Is It, How Will It Work

Account Aggregator : What Is It, How Will It Work

05 Sep 2026 • 3 min read
Written By
Pranat Modi
Pranat Modi
PensionBox

Account Aggregators are organisations which allow members to communicate and access data through one financial institution to another in account aggregator networks. The RBI has granted these aggregators rights to enter and share data.

How do Account Aggregators work?

Account aggregation collects financial personal data or households and makes it available to the market. Customers can access data on all of their financial assets from a collecting bank. Customers who wish to use the personal finance service may be required to provide their login details (username and password) to these institutions. The information is then stored inside the account aggregation software, which allows access to balance data and transaction records. Aside from financial information, financial advisors may begin collecting net-worth of the lender such as asset values, debt liabilities, and cash inflows and outflows on behalf of their clients. If their banks offer services such as loan access and money management, the borrower can take advantage of them.

Account Aggregators as facilitators of small credit

A credit record is one of the parameters that govern the process by which banks/NBFCs make credit available to borrowers. As a result, obtaining credit from banks and NBFCs is difficult for first-time debtors or borrowers of personal credit with little to no financial history. Furthermore, credit is limited for those whose income is not fixed, such as self-employed individuals who rely on erratic payment transactions from clients or small business people whose revenue fluctuates month to month. Access to loans and financial planning services becomes even more difficult in the absence of a credit record or proof of income. Not to mention that credit institutions frequently require debtors to pledge collateral in order to obtain credit, which is another deterrent for small businesses.

How will the new Account Aggregator network improve an average person's financial life?

Today's Indian financial system includes many complications for consumers, such as wanting to share intimate signatures and data collected of bank statements, running around to notarize or stamp files, or having to share your personal username and password with a third party to provide your financial history. All of this would be replaced by the Account Aggregator network, which would provide a simple, smartphone, and secure digital data access and sharing process. This will open up new opportunities for new types of services.

What new services can a customer access if their bank has joined the AA network of data sharing?

Availability to loans and connect directly to money management are the two key services that will be enhanced for an individual. There are numerous documents that must be shared with the lender if a customer wishes to obtain a small personal or business loan today. Today, this is a time-consuming and manual process that affects the time it takes to obtain a loan and access to one. Accordingly, money management is challenging today because information is stored in multiple places and cannot be easily brought together for analysis. A company can use Account Aggregator to quickly and cheaply access tamper-proof secure data and to expedite the loan assessment process so that a customer could get a loan.

PensionBox will assist you in making the appropriate adjustments to your retirement plan. Additionally, our licensed and qualified advisers will answer any questions you have, we promise to make it simple and clear. PensionBox uses the account aggregators to help you ease the flow of tracking, withdrawing and investing. Sign Up and download the app on Android and on IOS.

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Prashant Agarwal
Founder, Runtime Software
"Very intuitive and smooth experience with the app. Helps me start planning my savings and retirement in a super easy manner which I assumed might be difficult thing to do."
Anjali Agarwal
PensionBox User
"Saving is an essential part of any employee’s life. With this integration, our HRMS users can directly invest and track their pension funds straight from their ESS portals, making the process seamless."
Jitendra Somani
CEO, Pocket HRMS
"Runtime HRMS is built with a vision to Create Happier Workplaces for the working population of India, and it neatly aligns with PensionBox’s vision to create financial freedom for people during and beyond their work-life."
Prashant Agarwal
Founder, Runtime Software
"Very intuitive and smooth experience with the app. Helps me start planning my savings and retirement in a super easy manner which I assumed might be difficult thing to do."
Anjali Agarwal
PensionBox User
"Saving is an essential part of any employee’s life. With this integration, our HRMS users can directly invest and track their pension funds straight from their ESS portals, making the process seamless."
Jitendra Somani
CEO, Pocket HRMS
"Runtime HRMS is built with a vision to Create Happier Workplaces for the working population of India, and it neatly aligns with PensionBox’s vision to create financial freedom for people during and beyond their work-life."
Prashant Agarwal
Founder, Runtime Software
"Easy to use and smooth user interface. Pensionbox developers deserve praise. People can plan their retirement in advance with this tool. Keep up the good work guys, looking forward for some more features added to the list."
Sourabh Mishra
PensionBox User
"One of the few apps that solves the problem of tracking and investing of my retirement Corpus. Ul is sleek, customer care is great and full marks for bug free experience"
Prashant jain
User since 7 months
"PensionBox addresses a very important need for billions of Indians who do not have access to the right resources to make an informed choice and then continue to track their funds easily."
Ninad Karpe
Founder VC, 100x.VC
"Easy to use and smooth user interface. Pensionbox developers deserve praise. People can plan their retirement in advance with this tool. Keep up the good work guys, looking forward for some more features added to the list."
Sourabh Mishra
PensionBox User
"One of the few apps that solves the problem of tracking and investing of my retirement Corpus. Ul is sleek, customer care is great and full marks for bug free experience"
Prashant jain
User since 7 months
"PensionBox addresses a very important need for billions of Indians who do not have access to the right resources to make an informed choice and then continue to track their funds easily."
Ninad Karpe
Founder VC, 100x.VC
"Easy to use and smooth user interface. Pensionbox developers deserve praise. People can plan their retirement in advance with this tool. Keep up the good work guys, looking forward for some more features added to the list."
Sourabh Mishra
PensionBox User
"One of the few apps that solves the problem of tracking and investing of my retirement Corpus. Ul is sleek, customer care is great and full marks for bug free experience"
Prashant jain
User since 7 months
"PensionBox addresses a very important need for billions of Indians who do not have access to the right resources to make an informed choice and then continue to track their funds easily."
Ninad Karpe
Founder VC, 100x.VC
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Frequently asked questions
PensionBox is India’s first pension platform/app that helps you access, invest in, and track your NPS and other pension products with better user experience & minimum charges.

PensionBox simplifies the National Pension System(NPS), the government's pension scheme for private employees both for retail users and HRs/companies.

If you don’t have an NPS account, you can simply open your pension account within 2 minutes and if you have NPS PRAN already, you will be able track, invest and manage everything free of charge with best user experience.
Absolutely. PensionBox is fully ISO 27001 compliant with the Pension Fund Regulatory and Development Authority (PFRDA), the government body that regulates pensions in India.

We never touch or hold your money directly, your investments go safely to your chosen pension fund through approved channels.

We are built with Zerodha as POP , ensuring transparency, data security, and peace of mind. Your retirement savings are protected by regulation and secured by technology.
Banks/POPs charges high fees on account opening & every investment Even CRA apps have hidden charges/low transparency & lack timely support Pension Funds restrict pension fund choice & selection to themselves.

That’s why, PensionBox brings transparency, zero charges, timely support and freedom to select any pension fund so that you get the best experience investing in NPS & be better future ready.

That’s not it, we help you & your company together to maximise contribution and tax savings with minimal charges & best user experience.
It’s super easy to use PensionBox, just start by signing up using your browser on laptop/mobile or downloading the app on appstore or playstore.

If you are an existing zerodha user then you get a fast login or sign up using kite ID.

Once you are onboarded with kite ID, you get free access to
  • Open NPS in 2 minutes
  • Track existing NPS
  • POP shift or CRA shifting
  • Invest in one time or create SIP in NPS
  • Withdraw NPS requests & instant withdraw tier 2
  • Create your dream retirement plan
  • Open NPS Vatsalya for your kid
  • Share with HR (To unlock more tax benefits)
Tax Benefits in New Tax Regime
  • Employer Contribution:
    • Contributions made by your employer to your NPS account are tax-free up to 14% of your basic salary under Section 80CCD(2). Do connect us with your HR to enable this for you.
    Tax Benefits in Old Tax Regime
  • Self-Contribution:
    • Deduction up to ₹1.5 lakh under Section 80C.
    • Additional deduction of ₹50,000 under Section 80CCD(1B) — exclusive to NPS investments!
    • This allows you to claim a total deduction of up to ₹2 lakh every year on your NPS contributions.
  • Employer Contribution:
    • Contributions made by your employer to your NPS account are tax-free up to 10% of your basic salary (Basic + DA) under Section 80CCD(2). Do connect us with your HR to enable this for you.
    • This is over and above your personal deduction limits, giving you extra tax efficiency.
We understand NPS can be confusing, complex and there is a lot of information out there to believe in. Don’t worry, our team is here to help you with the right information.

Feel free to book a free call to learn more about NPS, NPS Vatsalya, Corporate NPS & PensionBox or contact the support team.
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PensionBox is India’s first pension startup for the private employed workforce. PensionBox is ISO 27001 certified and approved by PFRDA for the National Pension System. Recognized as a startup by the Department for Promotion of Industry and Internal Trade, Certificate under StartupIndia Initiative DIPP80990 & StartinUP Initiative. Incubated & supported by UPES Council for Innovation and Entrepreneurship (UCIE).

PensionBox works as Technology Platform/Partner with Zerodha Broking Limited, Point of Presence (POP) as Pension Agent under PFRDA (PoP) Regulations 2023 to enable NPS account opening, transacting funds, manage account under All Citizen and Corporate NPS in India.

Grievance Redressal as per Regulation 31 of PFRDA (Redressal of Subscriber Grievance) Regulations, 2015:
The details of the Ombudsman appointed are available on the PFRDA website - www.pfrda.org.in At present, Shri Narender Kumar Bhola has been appointed as the new Ombudsman in terms of the PFRDA (Redressal of Subscriber Grievance) Regulations, 2015.


Details of the ombudsman are as under:

Shri Narender Kumar Bhola
Pension Fund Regulatory and Development Authority
B-14/A, Chatrapati Shivaji Bhawan,
Qutab Institutional Area, Katwaria Sarai, New Delhi- 110016
Chhatrapati Shivaji Bhawan,
Id: ombudsman@pfrda.org.in
Landline No.: 011 - 26517507 Ext : 188
Grievance Redressal Officer
Ms. Sruthi Nair
Email: sruthi@pensionbox.in
Name: Kuldeep Parashar
Email: kuldeep@pensionbox.in
Phone: +91 8445450050

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