What is a Fastag?
As the number of vehicles in India has increased a lot in the last few years, a lot of time is wasted while traveling through national highways due to long lines of vehicles waiting for toll payments. But now, vehicle owners do not need to stay at the toll plazas to make toll payments as the government has introduced a new device known as Fastag for paying toll taxes.
Fastag is an RFID, i.e., Radio Frequency identification technology-based device that helps in automatic toll deduction from your account without stopping at the toll plazas. You have to attach Fastag on the windscreen of your vehicle. As soon as you cross a toll plaza, the sensors of that toll plaza scan your Fastag device, and the toll fees are automatically charged from your vehicle.
The government has authorized around 35 banks and various mobile payment apps to provide Fastag services to vehicle owners. Here in this article, we have listed the top Fastag service providers in India.
Who is the best FASTag provider?
|State Bank of India||2.73%|
|Equitas Small Finance Bank||2.16%|
|Karur Vysya Bank||0.29%|
|Punjab National Bank||0%|
|South Indian Bank||0.14%|
|PayTM Payments Bank||43.31%|
|Punjab & Maharashtra Co-op Bank||0%|
|Kotak Mahindra Bank||1.44%|
|Fino Payments Bank||0%|
|City Union Bank||0%|
|Bank of Baroda||0.14%|
Paytm is one of India’s top mobile payment services and provides various services to mobile users. These services include Recharging phones, DTH, Movie ticket booking, Flight booking, paying electricity bills, and much more.
One new service added recently to the long list of Paytm’s services is the option of purchasing Fastag. You can now order a new Fastag for your four-wheeler vehicle from home. To apply for a Fastag from Paytm, you need a few things. You must submit the registration certificate, i.e., an RC copy of your Vehicle, Passport-size photographs, and KYC documents.
To purchase a Fastag from Paytm, you have to pay fees starting from Rs. 500, including tag issuance fees, security deposit, and minimum first-time recharge. The amount of Fastag purchased from Paytm differs from Vehicle to Vehicle, as for commercial and heavy vehicles, you may have to pay more fees.
Paytm also gives the facility to recharge a Fastag purchased from any other service provider.
ICICI Bank is one of the banks which are providing Fastag issuing services. Vehicle owners interested in purchasing Fastag from ICICI Bank can follow the steps below. To apply for Fastag from ICICI Bank, you must submit a few documents that depend upon the vehicle class for which you are using.
- Visit the official Fastag portal of ICICI Bank through this link: www.icicibank.com/fastag
- After opening the above link, you will be redirected to a new window.
- You will see the ‘Apply Now’ option in the top right corner.
- From the drop-down, select the ‘Fastag’ option.
- An application form will open where you must fill in all the required information.
- Now, you will have to pay, after which the application for Fastag through ICICI Bank will be processed and delivered to the address mentioned.
SBI is the largest bank in India and is also the number one bank in terms of providing Fastag services in India. You can purchase SBI Fastag from the official SBI website. For the convenience of vehicle owners, SBI Bank has also established various points of sales centers at many toll plazas in the country. By submitting the necessary documents, you can apply for a Fastag and get it immediately from any POS of SBI bank. You can follow the below steps to purchase Fastag from SBI Bank.
- Find the nearest POS center of SBI Bank or visit the nearest branch.
- Ensure you carry out the original and scanned copies of the required documents, including KYC documents.
- Ask for the Fastag application form from SBI Bank.
- Enter all the necessary information in the application form and attach the documents.
- The attendant at the SBI POS will verify your documents.
- After paying the fees, SBI Fastag will be issued to you.
You can apply for Fastag online from HDFC Bank in a few minutes. Like many central banks in India, HDFC also allows you to purchase Fastag for your vehicle. After applying Fastag online from HDFC, you can get it within 5-7 days. Once you receive the Fastag at your delivery address, you can install it on your vehicle and use its services to pay toll taxes at any toll plaza in India.
- Visit the official Fastag portal of HDFC Bank by clicking here:
- If you are already a customer of HDFC Bank, then you have to tick ‘Yes’; otherwise, click ‘No.’
- Enter your Customer ID if you choose ‘Yes’
- If you select any of the above options, you will have various details, including your personal and vehicle details.
- After entering all the above details, you have to make the payment.
- Click on the ‘Submit’ button after clicking Paying Fees.
- Now you are done applying for Fastag from HDFC Bank.
All four-wheeler vehicle owners must travel through various National Highways in India, and Axis Bank Fastag is a device that helps avoid the hassles of paying at the toll plazas. By recharging the Fastag device, vehicle owners can enable the automatic deduction of tolls from their Fastag account.
Axis Bank Fastag is a prepaid account that you have to recharge when there is a low balance. Remember, if you don’t recharge your Fastag, you will not be able to make the toll payment. When you come near a toll plaza, the toll fees will instantly be deducted from your Axis Bank Fastag account.
If you want to purchase Fastag from Axis Bank, you can go to the nearest branch or buy it online from the official Axis Bank website. To purchase Fastag online or offline from Axis Bank, you must submit many documents, e.g., KYC documents, Vehicle Registration Certificates, Driving licenses, ID proof, Photographs, etc.
After February 15, 2021, all four-wheeler vehicles must have Fastag installed to pay the toll tax at the toll plazas. Fastag is now mandatory for all vehicles crossing toll plazas on national highways. The Fastag can be purchased from the Bank of Baroda(BOB) offline or online.
BOB provides various offers and discounts to vehicle owners for purchasing Fastag. For purchasing Fastag from the Bank of Baroda, you must have ID proof documents and the Vehicle’s Registration Certificate. If you already have a BOB account, you only need the Vehicle’s RC copy to purchaseto purchase the Fastag. When you buy a Fastag from the Bank of Baroda, then it is valid for five years from the date of purchase.
National Highways Authority of India started Fastag in the initial stages at a few toll plazas of the major cities but then rolled it out completely after February 15, 2021. It is now possible to purchase a new Fastag from Kotak Mahindra Bank. Fastag can be bought from the POS locations set by the Kotak Mahindra Bank at various Toll plazas, Transport centers, Bank Branches, Petrol pumps, etc. By visiting the official Fastag portal of Kotak Mahindra Bank, new users can also get the Fastag online by following simple steps.
Kotak Mahindra Bank charges a security deposit fee of Rs. 150 and one-time Tag issuance fees of Rs. 100, fixed by NHAI for all the banks.
With more than 120 million customers, Union Bank of India, also known as UBI, is one of the top Government-Owned banks. Now, it is providing another vital service to the users: Fastag. Union Bank of India allows vehicle owners to purchase Fastag from the bank’s Fastag portal, mobile app, or offline through any branch of the bank.
If you don’t have a Fastag, you have to pay double toll tax at the toll plazas and wait in long lines. Therefore, Union Bank of India provides the facility to buy Fastag easily and quickly to avoid double toll tax and the need to stay at the toll plazas.
To purchase Fastag from the Union Bank of India, you must fill out an application form and submit photocopies of all required documents. After buying Fastag from Union Bank of India, you can link it with your bank account or debit credit card. If your Fastag is not connected with any prepaid account, you must recharge it for the toll payments.
For the convenience of vehicle owners, the Government of India and NHAI have given the option of purchasing Fastag from various places. Fastag devices can be ordered from any government or private bank like IDFC First Bank by application offline or online. As Fastag is a rechargeable device, it must maintain sufficient balance in your Fastag wallet by recharging it regularly.
For recharging, IDFC First Bank has provided various options. You can recharge Fastag through the official website of IDFC First Bank using Netbanking, Debit Card, Credit Card, or UPI mode of payment.
While purchasing a new vehicle, Fastag is provided along with it when issuing the RC. Owners of old cars can buy Fastag online from banks like Indian Bank. Fastag can be purchased offline from any branch of Indian Bank or through any point of sale location. However, applying Fastag online through the official Fastag portal of Indian Bank is always convenient as you can fill out the application form in a few minutes from home.
Applying Fastag online from Indian Bank helps you to avoid waiting in queues at the bank’s branch. Indian Bank also provides cashback offers and many other discounts on buying Fastag.
The main objective of Fastag is to enhance cashless payment at the toll plazas and to make traveling through National Highways Fastag without having to wait for a long time at the plazas. By considering this, Karur Vysya Bank has also made it possible for vehicle owners to purchase Fastag from the bank.
Fastag purchased from KVB is pasted on your vehicle’s front glass and lets you not stop at the toll plazas because toll charges are automatically cut off from your Fastag wallet. KVB Fastag is a digital sticker that is based on RFID, ie. Radio Frequency Identification technology.
Google Pay is another primary online mobile payment application providing the best Fastag services to vehicle owners. Currently, Google Pay delivers the ability to purchase Fastag only from ICICI Bank. So Google Pay gives vehicle owners the option to acquire Fastag with the help of its app and delivers it to their homes free of cost. Google Pay charges a tag joining fee of Rs. 100, Rs. 250 as refundable security, and Rs. 150 as the minimum balance.
- To create a Fastag from Google Pay, you must first download the app from the Google Play store.
- Open the app and scroll down a little.
- Under the ‘Business & Bills section,’ you will see the option ‘ICICI Fastag.’
- After clicking on this option, you will see the ‘Buy Fastag’ option.
- Now you must provide details like vehicle number, name, address, etc.
- Next, you have to attach the necessary KYC documents.
- Then, you will be asked to verify your registered mobile number.
- Pay the fees mentioned above.
- Now you are done with applying Fastag from Google Pay.
Although you can purchase only ICICI Bank Fastag from Google Pay, you can recharge any bank’s Fastag quickly.
PhonePe has also made a mark as the leading mobile payment application and offers many services, including buying and recharging Fastag. Like Google Pay, it is possible to purchase only ICICI Bank Fastag through PhonePe for now. But, PhonePe will likely support and partner with other banks to buy Fastag. To purchase Fastag from PhonePe, in addition to Vehicle RC, you will also have to give your identity documents. You can follow the below steps to buy Fastag from PhonePe.
- Open the PhonePe app on your mobile phone.
- Under the Recharge & Pay Bills section, you must click the ‘See All’ option.
- A list of further possibilities appears where you will find the ‘Buy Fastag’ option in the ‘Purchases’ section.
- Here, you are required to enter information like the Registration no. of your Vehicle, PAN No., mobile no., personal details like name, address, etc
- After entering all the information, click on ‘Continue.’
- Verify all the information entered before submitting and then make the payment using any payment method.
- Once you are done with payment, click submit to complete the application process of ICICI Bank Fastag using PhonePe.
Which is the best Fastag to buy?
Suppose you have a vehicle and plan to purchase a Fastag. In that case, you should choose the best service provider because only then will you be able to take advantage of the services and facilities provided by Fastag.
Around 34 Fastag service provider banks and payment applications provide Fastag to vehicle owners. Many new providers are joining this list, so there is enormous competition among these service providers. You can buy a Fastag from many top providers like SBI, HDFC Bank, ICICI Bank, Axis Bank, Paytm, etc.
All these service providers have their qualities and benefits. When choosing a Fastag service provider, you should check for a few things like price, recharge options, recharge offers & discounts, and many other things.
Which Fastag is the cheapest?
Let’s talk about the cost or charges of purchasing a new Fastag. It includes the cost of Tag Issuance Fees, the Security deposit, which is refundable, and the minimum recharge amount. NHAI fixes the Tag issuance fees for all banks and service providers of the Fastag.
You have to pay a Tag issuance fee of Rs. 100 for purchasing a Fastag from any service provider. Then, you must pay a refundable security deposit of Rs. 200 to Rs. 500, depending on the category or type of vehicle, i.e., whether you are purchasing a Fastag for a personal car, commercial vehicle, or heavy construction machinery vehicle, etc.
You must also maintain some minimum balance in your Fastag, ranging from Rs. 100 to Rs. 500.
If you are looking for the cheapest service provider, we suggest you purchase it from Paytm because it doesn’t charge any convenience fees for applying Fastag. Also, there is no need for a security deposit.
You can purchase a Fastag from Paytm for just Rs. 350. The total cost of buying Fastag from Paytm is mentioned below:
- Tag Issuance Fee – Rs 84.75
- GST On Tag Issuance Fee – Rs 15.25
- Minimum Fastag Balance – Rs. 250
Which FASTag has the best offers?
All Fastag service providers regularly bring various offers and discounts for their customers. These offers come in multiple forms, and the most popular Fastag offer is the cashback offer. You can get a cashback offer on purchasing a new Fastag or when you recharge your Fastag.
Most service providers, like SBI Bank, ICICI Bank, HDFC Bank, Axis Bank, etc, provide a cashback of 2.5% every time you recharge your Fastag. So the more amount you reload in your Fastag, the more cashback you will get.
Paytm’s offer is the best if you want a cashback offer on your Fastag. Paytm provides various cashback offers to Fastag users from time to time. Paytm is running an excellent offer for the new Fastag buyers. Under this offer, 100 Lucky winners will get a 100% cashback offer up to Rs. 500 when they purchase a new Fastag from Paytm. They must use the code ‘LUCKY500‘ to claim this cashback offer.
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