Bank Rule: Nomination rules for bank accounts have undergone a revolutionary change effective November 1, 2025. You can now add not just one, but up to four nominees to your bank account, and most importantly, you can also decide what percentage of your estate each nominee will receive after your death. This new rule will not only protect your family from legal hassles but also eliminate financial disputes among your loved ones.
Major Change in Bank Nominee Rules
Under previous rules, only one nominee could be added to a bank account. After the account holder’s death, disputes often arose among family members regarding the balance in the account, as the nominee acted only as a trustee, not as the ultimate beneficiary. Without a nominee, heirs would have to spend months in court trying to withdraw the funds. Because of this, deciding the share of the account holder’s sons and ensuring their access to their money used to be quite difficult and subject to legal battles.
New Rule for Nominees
Now, this new rule implemented by banks is set to eliminate this problem. Under this rule, which came into effect on November 1, 2025, account holders have the right to add up to four nominees to their bank account. Most importantly, the account holder can decide, at their own discretion, what percentage of their deposit will be allocated to each of the four nominees.
Right to Divide Shares Granted
Under this new rule, account holders have complete freedom to divide their assets. For example, if an account holder wishes, they can give 30 percent each to the first two nominees, and 20 percent each to the remaining two. This decision will be completely within the account holder’s control. If the account holder wishes, they can also give equal shares, i.e., 25% each, to all four nominees.
This feature will ensure that each individual receives a pre-determined percentage, eliminating any potential for family discord or legal disputes in the future. While previously, the nominee was merely a nominal trustee, the account holder now has the power to decide how their hard-earned money should be divided.
Why is this rule a boon for families
This rule will prove to be a boon for families with multiple heirs. This visionary rule will reduce legal hassles and prevent financial conflicts within the family after the account holder’s death. This rule will provide relief to families with multiple heirs. Now, each individual can make the final decision about their hard-earned money, ensuring transparency and respect in financial matters.