Can you nominate multiple people for your bank account? Explained
Starting November 1, 2025, the Reserve Bank of India (RBI) is making it easier to decide who gets your money or locker contents if something happens to you.
Instead of just one nominee, you can now name up to four people for your bank accounts, lockers, or items kept in safe custody.
You get two options: split things between all nominees at once (simultaneous), or set an order so the next person only gets their share if someone ahead of them isn't around (successive).
For lockers and safe custody items, only the successive option applies.
What if you don't want a nominee?
Banks must now offer and explain nomination choices when you open an account.
If you don't want a nominee, just sign a quick declaration—no delays allowed.
Banks have three working days to confirm any nomination request or change and must clearly list nominees on passbooks or receipts.
If they reject your request, they owe you a reason within those same three days.
Nominating your loved ones is still optional
These new rules should make it way smoother and faster for families or friends to claim assets after someone passes away—less paperwork drama and fewer disputes.
Nominating is still optional but knowing how it works means more control over what happens to your stuff later on.
It's part of RBI's push to make banking simpler and fairer for everyone.