Banks That Support The Fastag Toll Payment Service

With the latest developments in technology, it has become possible to build efficient systems that are beneficial for people. The introduction of FASTags is one of such efficient systems. A FASTag allows you convenience while driving past a toll plaza. One does not need to go through the related hassle of waiting in the queue or spending cash. Before moving on to the list of banks that support FASTag Toll Payment Service, let’s understand what is a FASTag.

What Is A Fastag?

FASTag is a physical tag placed on the windshield of your car. The tag is embedded with Radio Frequency Identification (RFID) technology, it enables you to make automatic payments at toll plazas. This helps you save time and fuel expended while waiting in the queue for paying the toll. One can easily buy a FASTag from official Tag issuers or participating Banks. The entire process is looked after by the National Highway Authority of India (NHAI).

Which Banks Support Fastag Toll Payment Service?

  • SBI State Bank of India

Benefit:

SBI has a cashback offer of 7.5% at all the National Highway Toll plazas during 2017-18

  • YES Bank Fastag

Benefit:

The cash back offered on the FASTag bought through Yes Bank is 5%

  • Axis Bank Fastag

Benefit:

The cash back offered on the FASTag bought through Axis Bank is 5%

  • ICICI Fastag

Benefit:

The cash back offered on the FASTag bought through ICICI Bank is 5%

  • HDFC Fastag

Benefit:

The cash back offered on the FASTag bought through ICICI Bank is 5%

One can also renew a FASTag using PayTm application.

What Are The Advantages Of Using The Fastag?

Saves Fuel and Time

The major benefit of getting a FASTag is that you do not have to get in a queue for paying the toll at the toll plaza. With the help of the tag, you can simply take the dedicated lanes and drive through. Your FASTagwill be automatically detected and the amount will be deducted.

SMS alerts for transactions

You will be notified each time you renew your Fastag. This notification will be sent on your registered mobile number.

Online recharge

One does not need to personally visit the branch to renew the tag each time it expires. The renewal can be done through Credit Card/ Debit Card/ NEFT/ RTGS/ UPI or Net Banking.

Less use of cash

A FASTag helps you to be in sync with the Digital India movement. It reduces the use of cash as you can easily make use of online methods for buying and renewing your FASTag.

What Documents Are Required To Buy A Fastag?

Mainly you will require the following documents to buy the tag:

  1. Registration Certificate (RC) of the Car
  2. Passport size photographs of the owner
  3. Any kind of valid identification of the owner – Aadhaar card, passport, etc.

How To Buy A Fastag?

It is mandatory for new cars to get a FASTag. However, you need to buy your own tag in case you do not have one. To buy a FASTag, you can visit any of the Point of Sale (POS) locations at toll plazas/ issuer agency to get a FASTag account created. Another option to buy the tag is to visit any of the banks that have partnered with the NHAI. Remember to carry the above-mentioned documents in original while buying your tag.

Why Should I Buy Car Insurance?

Insurance of car is mandatory in India, without it you need to pay fixed fines as per the traffic rules and regulations in India. Depending upon the coverage, car insurance covers you for a sudden financial need arising due to car accidents and other situations like theft, natural calamities or man-made calamities.

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