Indian Bank Nomination Form
Indian Bank Nomination Form Download
The Indian Bank Nomination Form covers the registration, cancellation, and modification of nominees for bank deposits, safe custody articles, and lockers (Nomination… p. 1). It complies with the Banking Regulation Act, 1949 and the Banking Companies (Nomination) Rules, 2025 (Nomination… p. 1).
1. Structure and Scope
- Unified Request: One form covers bank deposits, safe custody articles, or physical safety lockers (Nomination… p. 1).
- Asset Allocation: Customers specify the account number, locker number, or unique distinguishing identification marks (Nomination… p. 1).
- Automatic Supersession: Any newly submitted form acts as an immediate legal cancellation of all previous nominations made for those specific assets (Nomination… p. 3).
2. Advanced Nomination Rules
Customers can choose between two distinct structural pathways for up to four nominees (Nomination… p. 2):
- Simultaneous Nomination: Multiple individuals are named to receive defined percentage shares of a bank deposit (Nomination… p. 2). The total allocated pool must equal exactly 100% (Nomination… p. 2).
- Successive Nomination: Nominees are listed in a strict order of priority (Nomination… pp. 2, 4). A lower-ranked nominee only gains claims after the deaths of all higher-ranked nominees (Nomination… p. 4).
- Locker Exception: Percentage share distributions (Column H) are disabled for safety lockers and safe custody articles (Nomination… p. 2). Only the order of physical priority dictates asset access (Nomination… p. 2).
3. Minor Nominee Protection
- Guardian Mandate: If any listed nominee is a minor, the customer must formally designate a legal guardian (Nomination… p. 3).
- Tracking Contact: The guardian’s full name, address, relationship to the minor, and email/mobile contact are required (Nomination… p. 3).
- Minor Accounts: If the account or locker itself belongs solely to a minor, a legally authorized individual must execute and sign the form on the minor’s behalf (Nomination… p. 4).
4. Execution & Submission
- Illiterate Declarants: Individuals who cannot read or write must provide a physical thumb impression verified and signed by two distinct witnesses (Nomination… p. 3).
- Digital Flexibility: The form can be updated or submitted electronically via e-nomination platforms if supported by the branch (Nomination… pp. 2, 4).
- Receipt Proof: Processing concludes with an official bank acknowledgement logging the core banking system (CBS) entry, reference number, and date (Nomination… p. 3).
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