The bank has changed this rule starting today.

Bank News Rules: Now, up to four nominees can be added to bank accounts. The account holder can decide who will receive what share, preventing disputes over the money after death.

Previously, when an account holder died, there would often be a dispute within the family regarding the funds in their bank account. This was because the bank allowed for only one nominee. If the account holder had not designated a nominee, their sons would have to resort to court.

Determining each son's share of the money they would receive after the account holder's death used to take months and involve legal battles for the family. Often, the division of the money would even lead to disputes between the sons and other family members.

Now, this hassle is about to end, as banks have implemented a new rule. A major change regarding nominees has come into effect in banks, effective November 1, 2025. Now, any account holder can add not just one, but four nominees to their bank account.

This means that the account holder can clearly determine their share of the money in advance, determining who will receive what share. Under the new rule, the account holder has been given the option to divide the share among the four nominees by percentage.

For example, if they wish, they can give 30 percent each to the first two nominees and 20 percent each to the remaining two. This will be completely within their control. If the account holder wishes, they can also give equal shares, i.e., 25 percent each, to all nominees.

This will ensure that each person receives a fixed percentage, eliminating any potential disputes later. This new rule will provide relief to families with multiple heirs. Previously, the nominee was merely a nominal entity. Now, the account holder will be able to decide how the funds will be divided.

This rule will reduce legal disputes and family conflicts. It will ensure that the account holder's death will not lead to family feuds. Now, each individual can decide for themselves who will receive their hard-earned money and how much.