Step-by-Step Guide to Change or Add Nominee in Bank Account

Adding or updating a nominee in your bank account is a crucial step in ensuring that your savings are passed on smoothly to your loved ones in case of an unfortunate event. A nominee acts as the custodian of your funds and can claim the account proceeds in the event of your death. Without a nominee, the legal process for your family to access your funds becomes complicated and time-consuming.

Most banks in India now allow you to add or update nominee details through both online and offline modes. Here’s a comprehensive guide on how to do it.

When Should You Update Nominee Details?

You should consider updating your nominee details in the following situations:

• If you haven’t added any nominee at the time of opening your bank account
  
• If there is a change in your family situation, such as marriage, divorce, or childbirth
  
• If your current nominee is no longer suitable or has passed away
  
• If you want to allocate your funds to a different person
  
  
  

It is advisable to review your nomination every few years and make updates if necessary.

How to Update Nominee Details Online

Several leading banks now offer the option to update or add nominee details through their internet or mobile banking services. Here is how you can do it:

1. Internet Banking

• Visit your bank’s official internet banking portal
  
• Log in using your customer ID and password
  
• Go to the “Service Requests” or “Profile” section
  
• Click on the “Update Nominee” or “Add Nominee” option under account services
  
• Select the account for which you want to update nominee details
  
• Enter the new nominee’s full name, date of birth, relationship with the account holder, and contact details if required
  
• Confirm the changes using OTP verification sent to your registered mobile number
  
• Submit the request; you will receive a confirmation message or reference number
  
  
  

2. Mobile Banking App

• Open your bank’s mobile banking app
  
• Log in using your credentials or biometric authentication
  
• Navigate to “Services” or “Account Settings”
  
• Choose “Update Nominee” or similar option under account management
  
• Fill in the nominee’s details and confirm via OTP
  
• Submit the update and save the acknowledgement for reference
  
  
  

Note that not all banks support full nominee updates online. In such cases, you may be able to submit a request digitally but will still need to complete the process at a branch.

How to Update Nominee Details Offline

If you prefer the traditional method or your bank does not support online nomination updates, you can follow this offline process:

• Visit the nearest branch of your bank
  Ask for the ‘Nomination Form DA1’
  
  
• Fill in the form with account details and complete nominee information
  
• Submit a copy of your identity proof (if requested)
  
• Sign the form in the presence of a bank official
  
• The bank will process your request and update the nomination in their records
  
• You will receive an acknowledgement slip for future reference
  
  
  

Points to Keep in Mind

• You can only nominate one individual per bank account. Joint account holders can jointly nominate a person.
  
• You can change the nominee anytime by submitting a new request. The latest nomination replaces the previous one.
  
• Nominee details are account-specific. If you have multiple accounts in the same bank, you need to update nominee details separately for each.
  
• Nominees can be minors, but you must mention a guardian for them.