4 Nominees Per Bank Account: India's New Rule Explained

From 1 Nov 2025 you can name up to 4 nominees per deposit account, locker or safe-custody item

Deposits allow two styles: simultaneous (fixed % shares) or successive (rank order); lockers allow only successive

A nominee is a trustee, not the owner — your will and succession law still decide who finally keeps the money

The change aims to cut India's pile of unclaimed deposits stuck because of a single dead nominee

Update old single-nominee accounts now; banks won't auto-add the extra three for you