RBI Bank Rules : Big Relief for Bank Customers — Now You Can Add Up to Four Nominees in Your Account from November 1, 2025 : The government has announced a major relief for bank customers. Yes, if you have an account in any bank, you can now add up to four nominees to your account. This new rule will come into effect from November 1, 2025, according to information shared by the Finance Ministry. It was notified on April 15, 2025, and will apply to deposit accounts, safe custody articles, and safety lockers. The main objective of this rule is to bring uniformity in the banking system and make the claim settlement process easier.
You Can Add Four Nominees in Different Ways
Customers can now add four nominees in their bank account either at once or separately.
- Joint Nominees : All nominees will remain active simultaneously.
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One-by-One Nominees : The next nominee will become active only after the previous nominee’s death.
Customers can also decide the share or percentage for each nominee, ensuring the total adds up to 100%. This change will improve transparency and ensure that the funds are distributed correctly among the nominees.
Freedom to Choose Nominees as per Preference
According to the Finance Ministry, this new facility will simplify deposit claim procedures. Customers will also find it easier to cancel or change their nominees. For safety lockers and safe custody articles, only the one-by-one nomination system will be allowed.
Customers will have full freedom to choose nominees as per their preference. If the numbering of nominees is unclear, their priority will be determined by the order of names.
Uniform Rules for All Banks
All banks will now follow the same set of rules for nomination. Some sections of the new act (Sections 3 to 5 and 15 to 20) have already been implemented in August 2025, while the remaining sections (10, 11, 12, and 13) will come into force in November 2025.
This change will make banking more convenient for customers. With clearly stated nominee names, claim settlements will become faster and easier. Moreover, the enhanced transparency will help reduce disputes among claimants.
The government’s target is to make the banking system more modern, transparent, and customer-friendly, ensuring that every individual can manage their financial legacy more efficiently.
