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Bank Nominee Rules 2025: A big relief news has come for bank account holders. The government has changed a major rule to nominee in bank accounts. Now you will not be forced to keep only one nominee for your bank account or locker. The government has made such an important change in the banking rules, due to which account holders will now be able to add up to four nominees simultaneously. This step has been taken with the aim of reducing family drama and court cases.

What are the new rules?

Now you will be able to make nominees of maximum four people in your savings account, FD and other deposit accounts. This will also apply to bank lockers. With this you will also be able to decide what percentage of the deposit amount you want to give to the four nominees. Apart from this, you can give the names of all four nominees together and also decide their share. You can choose the nominee in order of priority (1st, 2nd, 3rd, 4th).

When will the new rule come into effect?

According to the information given by the Finance Ministry, this new rule will come into effect from November 1, 2025. This change has been made under the ‘Banking Laws (Amendment) Act, 2025’. Its objective is to make the process of settlement of claims in the banking system more transparent, uniform and effective.

Why was this change needed?

Under the old rule, there could be only one nominee in a bank account. Due to which there were often reports of disputes between the family members of the account holder. But after the new rule, disputes between family members will now end. Because now four nominees can already be decided. Apart from this, due to the dispute, the unclaimed money deposited in the bank will also be given to the family members.