Who can be nominee in bank account

A nominee for a bank account can be any trusted individual, such as:

• Immediate family members like a spouse, children, or parents.
• Other relatives or friends.
• A minor, provided a legal guardian is appointed to manage the funds until they turn 18.
• Non-Resident Indians (NRIs), subject to specific exchange control regulations.

Effective November 1, 2025, Indian banking rules allow account holders to nominate up to four individuals either simultaneously or successively to ensure a smooth transfer of funds.