As of February 2026, bank account holders in India can nominate up to four individuals for their accounts. This provision, introduced under the Banking Laws (Amendment) Act, 2025, provides customers with greater flexibility through two main options:
- Simultaneous Nomination: You can name up to four nominees at once and specify a percentage share for each, ensuring the total equals 100 percent.
- Successive Nomination: You can list up to four nominees in a priority order. The next nominee becomes eligible only if the higher-placed nominee is deceased.
For safety lockers, only successive nominations are permitted.