FASTag is a new age-solution for payment at toll plazas in India. It is an electronic toll collection system. It is operated by the National Highway Authority of India (NHAI). To avoid massive traffic and save journey time the Govt. has launched this project.
It uses a Radio Frequency Identification system for making toll payments. While you cross the toll plazas it will deduct toll charges automatically.
It is mainly nothing but a prepaid rechargeable tag that allows automatic payment deduction.
How to buy FASTag in a new car?
FASTag is issued by 22 certified banks through various online and offline channels and also available on national highway toll plazas and e-commerce websites like Amazon Paytm etc.
How to activate FASTag?
You can activate Fastag by yourself or you can activate this through banks.
FASTags are ‘bank-neutral’ which means that no bank is pre-assigned to the FASTag at the time you purchase it from a PoS terminal or online platform. The online FASTag is based on the concept of DIY (Do-It-Yourself) where you can self-activate it by entering your vehicle details in the ‘My FASTag’ mobile app.
Through the app, you can link the FASTag with any one of your existing bank accounts. The NHAI (National Highways Authority of India) Prepaid wallet facility is also available in the app, where you can load money and get your toll fee deducted from the prepaid wallet instead of getting it directly deducted from a bank account.
Activate through Banks:
You can also buy FASTag by visiting the nearest certified bank branch and get the FASTag linked with your existing bank account.
At the time of activation, you will be required to submit the KYC (Know Your Customer) documentation as per the KYC policy of the bank. Apart from the KYC documentation, you need to submit a Registration Certificate (RC) of the vehicle along with the application for FASTag to the bank.
It is worth mentioning that you cannot use one FASTag with two or more vehicles, you will have to buy two separate FASTags for the two vehicles and so on.
Here is the list of banks that provides FASTag:
What is the charge for FASTag?
FASTag issued by certified banks can charge a maximum of Rs 100 for each tag, which is fixed by National Payments Corporation of India (NPCI).
For instance, HDFC bank is selling FASTag for the car at Rs 400. The pricing includes the following:
Rs 100 for Tag issuance fees
Rs 200 for Refundable Security Deposit
Rs 100 for first recharge amount in the wallet when the wallet is been created
ICICI bank is selling FASTag for the car at Rs 499.12 in the following manner:
Rs 99.12 for Tag issuance fees
Rs 200 for Refundable Security Deposit
Rs 200 for the first recharge amount in the wallet when the wallet is been created.
How to recharge FASTag?
If the FASTag is already linked with your bank account, then there is no need to load money separately in a prepaid wallet. You only need to ensure that your FASTag-linked bank account has sufficient balance to allow for toll payments.
if you have linked the FASTag to a prepaid wallet (NHAI prepaid wallet), then it can be recharged through various channels such as payment through cheque or through UPI/debit card/ credit card/ NEFT/ Net Banking.
How to do KYC for FASTag?
For limited KYC FASTag account holder: This type of FASTag cannot have more than Rs 20,000 in their FASTag prepaid wallet. The monthly reload limit is also capped at Rs 20000.
For full KYC FASTag account holder: This type of FASTag account cannot have more than Rs 1 lakh in their FASTag prepaid wallet. There is no monthly reload cap in this account, according to the Indian Highways Management Company Limited (IHMCL) website.
How to Install FASTag on your car?
- First, get your FASTag from banks or other e-commerce websites or Paytm.
- Remove the back paper.
- Clean your vehicle windscreen inside.
- Affix the FASTag tag on the upper-middle position of the windscreen from inside.
You are done!
How to activate FASTag through Paytm?
Paytm also allows you to buy, activate and recharge your FASTag tag. Just follow the steps:
- Download/Update your Paytm app in the latest version.
- Login/Signup Paytm app.
- Click on the FASTag option.
- Enter Vehicle Registration number.
- Enter your Address where the FASTag will be delivered.
- Click on Buy Now.
Your FASTag tag will be delivered on your address.
How to use Paytm FASTag?
- Buy FASTag from Paytm
- Affix on the vehicle
- Recharge Paytm wallet
- Enjoy your ride. Toll gets deducted automatically from your wallet.
How to activate FASTag from Axis Bank?
- Open https://www.axisbank.com/business-banking/get-payment-and-merchant-solution/fastag/fees-charges#menuTab
- Click on “Get Free FASTag now!”
- Enter the Account Number and Vehicle number
- Enter captcha
- Click on generate OTP
- Follow the following steps.