@Viraj Shinde If you're looking to do a closed login store there's native functionality for that. If you are not, keep in mind the seo aspect of redirects in your home.
There's indeed a way to do redirects by creating an extension. You can code window.location (for browsers) or nsglobal.location (for SEO ENgine). check for that code in SCA code for examples.
Can you redirect to other places other than myaccount? Yes... when you redirect the user to the login page, just append parameters origin and origin_hash. Again, look for examples in the code, but origin = the touchpoint and origin_hash the backbone route .