About Account Aggregators (AA)
The Account Aggregator (AA) framework, notified by the RBI in 2016, is a consent-driven data-sharing pipeline between Financial Information Providers (FIPs — banks, NBFCs, MFs, insurers) and Financial Information Users (FIUs — lenders, wealth managers). Loan4Bank uses licensed AAs (e.g. Finvu, OneMoney, CAMS Finserv, NADL, Perfios AA) to pull your financial data with your explicit, revocable consent.
What data is fetched (with your consent)
- Bank account statements (savings, current, salary) — up to 12 months
- Fixed deposit and recurring deposit statements
- Mutual-fund holdings + transactions
- Insurance policy statements
- PPF, NPS, SIP contributions (where the FIP participates)
Purpose of use
Data pulled via AA is used ONLY for: (a) credit underwriting for a loan you have applied for, (b) computing your eligibility & pre-approved offers, (c) personalising your dashboard analytics. It is not sold or shared with third parties without your explicit consent.
Retention period
Data retention is limited to the period you specify at the consent step (typically 1 month for one-time underwriting, 12 months for continuous monitoring). You can revoke consent at any time via the AA app or Loan4Bank → Settings → Data & Consents.
Security
All AA data is transmitted using TLS 1.3, stored encrypted at rest with AES-256, and access-controlled per RBI's Master Direction on IT Governance & Cyber Resilience.