Nominee

Benefits of Having a Nominee in Your Bank Account

As per the latest nomination norms applicable from 1 November 2025

Nomination is one of the most important safety features available to all bank customers. It ensures that your savings and deposits are securely passed on to the person(s) you trust in the event of your unfortunate demise. To safeguard customer interests and make claim settlements faster, updated nomination rules become effective from 1 November 2025.

Why You Should Add a Nominee?

1. Quick and Hassle-Free Claim Settlement

Having a registered nominee allows the bank to release the deposit amount quickly to the nominee without requiring lengthy legal documents such as succession certificates or probate. This ensures your family receives financial support without delays.

2. Reduces Stress for Your Family

In the absence of a nomination, legal heirs must undergo formal procedures to claim funds. A nomination prevents such difficulties and gives peace of mind to your loved ones.

3. Clear and Documented Intent

Nomination records your choice of beneficiary in the bank’s system, ensuring there is no confusion or dispute among family members regarding the rightful claimant.

4. Appointment of Multiple Nominees

Under the latest rules, customers can appoint up to four nominees for a single account. You may choose:

• Successive Nomination – A sequence of nominees will receive funds if the primary nominee is not available.

5. Flexibility to Modify or Cancel Anytime

Customers can add, change, or cancel a nomination at any time by submitting a simple request to the bank.

6. Helps Prevent Unclaimed Deposits

Clear nominee details ensure that your deposits are properly claimed and do not remain unclaimed after your lifetime. 

Nomination Facility — Key Highlights (Effective 1 November 2025)

• Up to four nominees can be added to any bank account.
• Nomination is available for deposit accounts, lockers, and safe-custody items (with rules specific to each).
• Nomination requests, modifications or cancellations will be processed promptly.

Our Request to Customers

We strongly encourage all customers to review their accounts and ensure that a valid nominee is registered. This small step ensures financial protection and ease for your family.

For assistance in adding or updating your nominee, please visit your nearest branch.