🏦 1️⃣ Change in Bank Nomination Rules — Effective 1 November 2025

Starting 1 November 2025, the Reserve Bank of India (RBI) and the Ministry of Finance have implemented major reforms in bank account, fixed deposit, and locker nomination systems under the revised Banking Laws (Amendment) Act 2025.

🔹 What’s New:

1. Up to 4 Nominees Allowed:

Every account holder can now register up to four nominees in a single account or locker.

Earlier, only one nominee was permitted.

2. Nominee Share Percentage:

The account holder can now define how much percentage of balance or locker value each nominee will get (e.g. 50% – 30% – 20%).

This ensures clarity and prevents disputes among family members later.

3. Successive Nomination (Backup Nominee):

You can set a successor nominee, meaning if the primary nominee passes away before the account holder, the next nominee automatically becomes eligible.

4. Applicable to All Accounts:

These new nomination rules apply to:

Savings Accounts

Fixed Deposits (FDs)

Recurring Deposits (RDs)

Lockers / Safe Custody

5. Digital Nomination Facility:

Banks are updating their systems to allow online nominee addition/modification through net-banking or mobile apps.

No need to visit a branch for small changes like name correction or percentage update.

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🧭 Impact for Customers:

Helps in clear estate planning and avoids legal hurdles or nominee disputes.

Easier for senior citizens and joint account holders to manage nominee deta