Saiteja
4 nominees can now be added to a single bank account under the amended banking rules, so your family can get your money faster and without disputes.
Have you added a nominee to your bank account? If not, your family may have to wait months and submit many documents to get your money in an emergency.
Under the Banking Laws (Amendment) Act, 2025, depositors can now add up to four nominees to a bank account. These nomination rules came into effect from 1 November 2025.
Table of Contents
Quick Overview
| Detail | Information |
|---|---|
| Maximum nominees | Up to 4 |
| Effective from | 1 November 2025 |
| Share | You can decide percentage for each nominee |
| Applies to | Deposit accounts; lockers and safe custody have separate rules |
Why a Nominee Is Important
- Without a nominee, the family may need a legal heir certificate or succession documents
- The claim process can take weeks or months
- With a nominee, the bank can settle the claim faster
What Is New in the Rule?
- Add up to four nominees to a deposit account
- Choose simultaneous nomination with a fixed share for each nominee, or successive nomination where the next nominee gets the money if the earlier one is not alive
- For lockers and safe custody articles, nomination is successive
How to Add or Update Nominees
Option 1: Bank App or Net Banking
- Log in to your bank app or net banking
- Go to Profile / Services and find Nominee
- Add nominee name, relationship, date of birth and share %
- Confirm with OTP
Option 2: Bank Branch
Visit your branch and submit the nomination form with nominee details. Ask for an acknowledgement.
Do Not Forget FDs and Lockers
Check nominees for your fixed deposits, recurring deposits and lockers also. Each may need a separate nomination.
How the 4 Nominees Rule Works
Under the Banking Laws (Amendment) Act, 2025, account holders can name up to 4 nominees for a deposit account. The rule came into effect from 1 November 2025.
- Simultaneous nomination: all 4 nominees get a fixed percentage share at the same time
- Successive nomination: nominees get the money one after another in a fixed order
- The total share across nominees must add up to 100%
- Lockers and safe custody items allow successive nomination
Why You Should Add 4 Nominees Now
Without a nominee, families need a legal heir certificate, succession certificate and many documents. This can take months. With 4 nominees clearly listed, the bank can settle the claim quickly.
- Avoid family disputes by fixing each share clearly
- Cover spouse, children and parents in one account
- Make sure money reaches the right people even if one nominee is not alive
Mistakes to Avoid While Adding 4 Nominees
- Shares not adding up to 100%
- Wrong spelling of nominee names
- Not updating nominees after marriage or a death in the family
- Adding nominees to savings account but forgetting FDs and lockers
- Not telling family members that they are nominees
Watch the Video
Nominee vs Legal Heir vs Will: What Is the Difference?
Many people think a nominee automatically becomes the owner of the money. That is not always true, so it is important to understand the difference.
- Nominee: the person the bank pays the money to after the account holder passes away. This makes the claim quick and simple
- Legal heir: the person who has the legal right to the money as per succession law or a will
- Will: a legal document where you clearly state who should get your assets
In many cases the nominee and the legal heir are the same person, so there is no confusion. But if they are different, the nominee may need to hand over the money to the legal heirs. This is why it is smart to keep your nominations and your will consistent.
With the option to add more nominees and fix their shares, you can now match your bank nominations closely with your wishes. For example, you can give a larger share to your spouse and equal shares to your children.
Review your nominations whenever there is a major life event such as marriage, the birth of a child or the death of a nominee. A five-minute update can save your family months of paperwork later.
Frequently Asked Questions
Is adding a nominee free?
Yes, banks do not charge for adding or changing nominees.
Is a nominee the same as the legal owner?
A nominee receives the money from the bank. The final ownership among heirs can still depend on the will or succession law.
Can I change my 4 nominees later?
Yes. You can add, remove or change nominees and their shares anytime through the bank app or branch.
Do all banks allow 4 nominees online?
Banks are updating their apps. If the option is not available online, submit the nomination form at your branch.
Related Guides
- 5 Simple Tips to Improve Your CIBIL Score Above 750
- RBI UDGAM Portal: How to Find Unclaimed Bank Deposits of Your Family (Step by Step)
- PMSBY and PMJJBY: Get ₹2 Lakh Insurance for Just ₹20 and ₹436 a Year
Official source: Reserve Bank of India. Always verify the latest rules on the official website.
Conclusion
Adding nominees takes only a few minutes but saves your family a lot of stress. Check all your accounts today.
Disclaimer: This article is for information purposes only and is not legal advice. Process may differ by bank. Please check with your bank for exact steps.
