Introduction
Bank account holders in India are taking note of the latest RBI bank new rules introduced in 2025, particularly those governing nominations to ensure smooth asset transfer to loved ones. Under the Banking Laws (Amendment) Act, 2025, and related directions effective from November 1, 2025, the Reserve Bank of India has enhanced flexibility for adding, changing, or cancelling nominees in savings accounts, fixed deposits, lockers, and safe custody items. These RBI new nomination rules 2025 allow up to four nominees, simplify modifications, and require banks to proactively inform customers—making the process easier while nomination remains optional. Whether you’re updating an existing nominee or adding one for the first time, these changes prioritize transparency and quick claim settlements for families.
Key Features of RBI’s New Nomination Rules in 2025
The RBI bank new rules focus on greater control and uniformity across banks. Here’s what stands out in the updated framework:
- Up to Four Nominees Allowed Previously limited to one, account holders can now nominate up to four individuals, allocating specific shares (totaling 100%) for simultaneous distribution or successive order.
- Flexible Ways to Change Nominees Add, delete, or modify nominees anytime via written request, net banking (where available), or branch visit—banks must acknowledge within three working days.
- Mandatory Bank Guidance At account opening or renewal, banks explain nomination benefits clearly; if you opt out, provide a written declaration (refusal doesn’t block account opening).
- Uniform Process Across Services Applies to deposits, lockers, and safe custody; nomination details printed on passbooks/statements with “Nomination Registered” legend.
- Handling Nominee Changes or Death If a nominee predeceases you, their portion follows standard claim rules; easy variation ensures your preferences stay current.
These rules for changing nominee in bank account streamline updates without hassle.
How to Change or Add a Nominee Under the New Rules
Follow these simple steps for seamless compliance with RBI’s new rule in 2025:
- Submit Form DA1 (for addition/variation) or DA2 (cancellation) at your branch.
- Use online banking portals for digital submission where supported.
- Specify shares for multiple nominees clearly.
- Existing nominations remain valid; update proactively for life changes like marriage or family growth.
- No fees typically apply—banks facilitate free of charge.
This empowers holders to keep nominations aligned with current wishes effortlessly.
Conclusion
The RBI bank new rules on nominations in 2025 mark a customer-friendly evolution, offering more options for changing nominees while ensuring faster, dispute-free transfers upon unforeseen events. By allowing multiple nominees and easy modifications, these guidelines provide peace of mind without making nomination compulsory. Review your accounts today—visit your bank or use digital channels to update details and protect your family’s future. As RBI continues prioritizing transparency, staying informed keeps your banking secure and straightforward.
FAQs:
What is the major change in RBI nomination rules for 2025?
Effective November 1, 2025, account holders can nominate up to four individuals with flexible share allocation or successive order for smoother claims.
Is nomination mandatory under the new RBI bank rules?
No, it’s optional—but banks must offer it and record a written opt-out declaration if you choose not to nominate.
How can I change a nominee in my bank account now?
Submit a variation form (DA1) at branch or online; banks acknowledge within three days—easy anytime updates allowed
Do these rules apply to lockers and fixed deposits too?
Yes, the new guidelines cover deposit accounts, safe custody items, and lockers uniformly across all banks.