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Fixed Deposit Nomination Form

A fixed deposit nomination form is a written request by a depositor asking the bank to register up to four nominees who will receive the deposit amount on the depositor's death, either together in fixed shares or one after another.

Also called: FD nomination letter, FD nominee form, Term deposit nomination form, Nomination letter for fixed deposit

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To, The Branch Manager [bank_name], [branch_name] Date: [nomination_date] Subject: Nomination in respect of fixed deposit no. [fd_number] Sir/Madam, 1. DEPOSITOR Name : [depositor_name] Address : [depositor_address] Deposit : [fd_number] 2. NOMINATION I hereby nominate the person or persons named below to receive the amount of the above deposit in the event of my death, under Section 45ZA of the Banking Regulation Act, 1949, as amended by the Banking Laws (Amendment) Act, 2025, read with the Banking Companies (Nomination) Rules, 2025. Type of nomination : [nomination_type] NOMINEE 1 Name of nominee : [nominee_name] Relationship : [nominee_relationship] Date of birth : [nominee_dob] Address : [nominee_address] Share (%) : [nominee_share] NOMINEE 2 (if any) Name of nominee : [nominee_2_name] Relationship : [nominee_2_relationship] Date of birth : [nominee_2_dob] Share (%) : [nominee_2_share] NOMINEE 3 (if any) Name of nominee : [nominee_3_name] Relationship : [nominee_3_relationship] Date of birth : [nominee_3_dob] Share (%) : [nominee_3_share] NOMINEE 4 (if any) Name of nominee : [nominee_4_name] Relationship : [nominee_4_relationship] Date of birth : [nominee_4_dob] Share (%) : [nominee_4_share] Where the nomination is simultaneous, the amount is to be paid to the nominees in the shares stated against their names, which must together total 100 per cent. Where the nomination is successive, the nominees are listed in order of priority, and a nominee lower in the list becomes entitled only if each nominee placed above has died. 3. WHERE A NOMINEE IS A MINOR Where any nominee is a minor on the date of my death, I appoint the following person to receive the amount on that nominee's behalf during minority: Name : [guardian_name] 4. DECLARATIONS 4.1 This nomination is made of my own free will and supersedes any earlier nomination in respect of the same deposit. 4.2 I may vary or cancel it at any time by written intimation to the Bank. 4.3 I request that the nomination be registered and an acknowledgment issued to me. 4.4 If the Bank requires the nomination to be made in its form prescribed under the Banking Companies (Nomination) Rules, 2025, I request that the form be given to me, and I shall complete it. Yours faithfully, [depositor_name] WITNESSES (required where the depositor signs by thumb impression) 1. Name: ______________________ Signature: ______________ 2. Name: ______________________ Signature: ______________ FOR BANK USE Nomination registered on ______________ Reference: ______________

Notes on using this document

Guidance for you while you fill it in. These notes are not printed in the downloaded document.

A NOMINATION DECIDES WHO RECEIVES, NOT WHO OWNS

This is the point most people have backwards, and it causes real family disputes.

Section 45ZA protects the BANK. It allows the bank to pay the nominee and obtain a valid discharge, so it does not have to wait for a succession certificate. That is its purpose.

It does not decide who is ultimately entitled to the money. The nominee generally receives it as a TRUSTEE for the legal heirs, who take under your will or under the law of succession. The Supreme Court has repeatedly held that a nomination does not override a will or the law of succession, and does not by itself confer beneficial ownership.

So:

  • A NOMINATION IS NOT A SUBSTITUTE FOR A WILL. If you want a particular person to OWN the deposit, say so in a will.
  • A nomination that CONTRADICTS your will invites exactly the dispute you were trying to avoid. Keep them consistent.
  • Review nominations after a marriage, a divorce, a death in the family, or a new will. An old nomination naming a person no longer intended is a common and avoidable problem.
  • Nominate for EVERY deposit and account, not just the largest. An account without a nomination is the one that forces the family into a succession certificate application.

UP TO FOUR NOMINEES

From 1 November 2025 a deposit can have up to four nominees. You can name them SIMULTANEOUSLY, each taking a fixed share (the shares must add up to 100 per cent), or SUCCESSIVELY, where the second nominee takes only if the first has died, and so on. Choose one type for the deposit, fill in the share column only for a simultaneous nomination, and leave unused nominee lines blank.

Banks now use nomination forms prescribed under the Banking Companies (Nomination) Rules, 2025, and many will ask you to fill in their form instead of, or as well as, this letter. Ask the branch first.

PRACTICAL: keep a record of which accounts carry which nomination, and tell someone where that record is. Unclaimed deposits in India run to very substantial sums largely because families did not know the accounts existed.

Fixed Deposit Nomination Form: what it is

A fixed deposit nomination form is a written request by a depositor asking the bank to register up to four nominees who will receive the deposit amount on the depositor's death, either together in fixed shares or one after another. It also appoints a person to receive the money for any nominee who is still a minor at that time.

When you need this document

  • You have opened a fixed deposit without naming a nominee and want to add one.
  • You want to replace an older nominee after a marriage, divorce, death in the family or a new will.
  • You are naming a child as nominee and need to appoint a guardian to receive the money during the child's minority.
  • An elderly parent holds several deposits and the family wants to avoid a succession certificate process later.

What it covers

  • The bank branch addressed, the date and a subject line with the fixed deposit number.
  • The depositor's name, address and deposit number.
  • The nomination under section 45ZA of the Banking Regulation Act, 1949 and the Banking Companies (Nomination) Rules, 2025, with the type of nomination and up to four nominees, each with relationship, date of birth and share.
  • The appointment of a named person to receive the amount for any nominee who is a minor on the depositor's death.
  • Declarations that the nomination is voluntary, replaces any earlier nomination for that deposit and can be varied or cancelled in writing, a request for registration, and an offer to fill in the bank's prescribed form.
  • Witness lines for use where the depositor signs by thumb impression, and a bank use section for registration details.

How to fill, sign and use it

  1. Ask the branch for its nomination form. Under the Banking Companies (Nomination) Rules, 2025, a nomination is made on the Nomination Form annexed to the Rules or by e-nomination where the bank offers it, so fill in that form and hand in this letter with it.
  2. Choose simultaneous or successive nomination, fill in each nominee's details exactly as in identity documents, add shares totalling 100 per cent only for a simultaneous nomination, and check the preview.
  3. If the nominee is a minor, name an adult guardian you trust to receive the money for the child.
  4. Sign with your specimen signature. If you sign by thumb impression, have two witnesses sign.
  5. Submit it at the branch and insist on an acknowledgment, and check that the nominee's name later appears on your deposit receipt or statement.
  6. Make sure your will, if any, is consistent with the nomination, and tell the nominee or a family member where your deposit records are kept.

Documents to attach or keep with it

  • A copy of the fixed deposit receipt or advice.
  • Identity proof of the depositor, if the bank asks for it.
  • Proof of the nominee's date of birth, where the nominee is a minor.

The law behind it

Section 45ZA of the Banking Regulation Act, 1949 allows a depositor to nominate who receives the deposit on their death. Payment to the nominee gives the bank a valid discharge, so the family need not obtain a succession certificate for that deposit. Courts have held that a nominee does not become the owner. The nominee generally holds the money for the legal heirs under the will or succession law. From 1 November 2025, the Banking Laws (Amendment) Act, 2025 and the Banking Companies (Nomination) Rules, 2025, which replaced the 1985 Rules, allow up to four nominees for a deposit.

Common mistakes to avoid

  • Treating the nomination as a will and assuming the nominee will own the money.
  • Naming a minor without appointing a guardian, which delays payment on the depositor's death.
  • Leaving an old nomination in place after a change in family circumstances.
  • Nominating for one deposit and forgetting the others, leaving some accounts without any nominee.

Fixed Deposit Nomination Form: frequently asked questions

Does the nominee become the owner of the fixed deposit?

Not necessarily. The bank pays the nominee and is then discharged, but courts have held that a nomination does not override a will or the law of succession. The nominee generally receives the money as a trustee for the legal heirs. If you want a specific person to own the deposit, say so in a will and keep the nomination consistent with it.

Can I change or cancel the nominee on my fixed deposit?

Yes. A nomination can be varied or cancelled at any time by giving written notice to the bank, usually on the bank's form for variation or cancellation. A fresh nomination for the same deposit replaces the earlier one, as this letter states. Collect an acknowledgment and check the change is reflected in your deposit records.

Can I name more than one nominee for a fixed deposit?

Yes, from 1 November 2025. The Banking Laws (Amendment) Act, 2025 and the Banking Companies (Nomination) Rules, 2025 allow up to four nominees for a deposit, named either together with fixed shares or one after another. This letter has space for four. Banks also have their own prescribed forms, so ask your branch which it needs.

What happens if a fixed deposit has no nominee?

If the depositor dies without a nomination, the bank will usually ask the legal heirs for documents such as a death certificate, proof of heirship and indemnities, and for larger amounts may insist on a succession certificate or probate. This takes time and money, which is why a nomination for every deposit is worth registering.

Can I add a nominee to my fixed deposit online?

Yes, if your bank offers it. The Banking Companies (Nomination) Rules, 2025, in force from 1 November 2025, allow a nomination to be made on the Nomination Form annexed to the Rules or electronically as an e-nomination where the bank provides that facility. The bank must acknowledge the nomination, or any cancellation or variation, in writing or electronically. If net banking does not show the option, fill in the nomination form at the branch and hand in this letter with it.

How does a nominee claim a fixed deposit after the depositor dies?

Under RBI's directions of September 2025 on settling claims of deceased customers, the nominee submits the bank's claim form, the death certificate and an officially valid document for identity and address. Where there is a valid nominee, the bank cannot insist on legal documents such as a succession certificate, or ask for an indemnity bond or surety. It must settle within 15 calendar days of receiving all documents, and for any delay on its part must pay interest of at least the Bank Rate plus 4 per cent a year. Banks must also allow a term deposit to be closed early on the depositor's death without penal charges. The nominee receives the money as trustee for the legal heirs.

What happens to a joint fixed deposit with a nominee if one holder dies?

In a joint deposit, the nominee's right arises only after all the depositors have died. Until then, the surviving holders deal with the deposit. Under RBI directions, closing a joint term deposit early after one holder's death needs the consent of the survivors and the legal heirs of the deceased, unless all holders had given a joint survivorship mandate allowing the survivors to withdraw. Check the mandate recorded on your deposit.

Last updated 16 October 2026.

General information on Indian law, not legal advice for your situation. Stamp duty, registration and fees differ by state, so check with the local office or an advocate before you rely on it.

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