List of Best Cheapest Fastag Service Providers in India 2023

What is a Fastag?

As the number of vehicles in India has increased a lot in the last few years, therefore, a lot of time is wasted while traveling through national Highways due to long lines of vehicles waiting for Toll payment. But now the vehicle owners have no need to wait at the toll plazas for making toll payments as the Government has introduced a new device known as Fastag for paying toll tax.

Fastag is an RFID i.e Radio Frequency identification technology-based device which helps in automatic toll deduction from your account without stopping at the toll plazas. Fastag is attached to the windscreen of your vehicle. As soon as you cross a toll plaza, your Fastag device is scanned by the sensors of that toll plaza, 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%
Axis Bank 5.04%
IDFC Bank 2.16%
ICICI Bank 28.92%
Equitas Small Finance Bank 2.16%
HDFC Bank 9.21%
Syndicate Bank 0%
Karur Vysya Bank 0.29%
Punjab National Bank 0%
Federal Bank 0.72%
Saraswat Bank 0.29%
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%
IndusInd Bank 0.43%

Paytm Fastag

Paytm is one of the top mobile payment services in India and provides various services to mobile users. Some of these services include Recharging phone, DTH, Movie tickets booking, Flight booking, paying electricity bills, and a lot more.

One new service that has been added recently to the long list of Paytm’s services is the option of purchasing Fastag. It means that now you can order a new Fastag for your four-wheeler vehicle from the comfort of your home. To apply a Fastag from Paytm you need a few things. You must have to submit the registration Certificate i.e 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 which also includes the tag issuance fees, security deposit, and minimum first-time recharge. The amount of purchasing Fastag 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 of recharging a Fastag purchased from any other service provider.

ICICI Bank Fastag

ICICI Bank is one of the banks which are providing Fastag issuing services. Vehicle owners who are interested in purchasing Fastag from ICICI Bank can follow the steps mentioned below. To apply for Fastag from ICICI Bank you have to submit a few documents which depend upon the class of the vehicle for which you are applying Fastag.

  • Visit the official Fastag portal of ICICI Bank through this link:
  • After opening the above link, you will be redirected to a new window.
  • Here 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 up where you will have to fill in all the required information.
  • Now you will have to make payment after which the application for applying Fastag through ICICI bank will be processed and will be delivered at the address mentioned.

SBI Bank Fastag

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 website of SBI online. 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 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.
  • Make sure you carry out the original and scanned copies of required documents including KYC documents.
  • Ask for the application form of applying Fastag 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.

HDFC Bank Fastag

You can apply Fastag online from HDFC bank in a few minutes. Like many major banks of India, HDFC bank is also giving the option 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 tax 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 on ‘Yes’, otherwise click on ‘No’
  • Enter your Customer ID if you choose ‘Yes’
  • You will have to various details including your personal details and vehicle details if you select any of the above options.
  • 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 with applying Fastag from HDFC bank.

Digipay Axis Bank Fastag

All four-wheeler vehicle owners have to travel through various National Highways in India and Axis Bank Fastag is a device that helps to avoid the hassles of paying at the toll plazas. By recharging the Fastag device, the vehicle owners can enable automatic deduction of toll from their Fastag account.

Axis Bank Fastag is a kind of prepaid account that you have to recharge when there is a low balance in it. Do remember, if you don’t recharge your Fastag then you will not be able to make the toll payment. When you come near a toll plaza, the toll fees will be deducted from your Axis Bank Fastag account instantly.

If you want to purchase Fastag from Axis Bank, then you can go to the nearest branch of the bank as well as purchase it online from the official website of the Axis Bank. To purchase Fastag online or offline from Axis Bank, you have to submit many documents eg KYC documents, Vehicle Registration Certificate Driving License, ID proof, Photographs, etc.

Bank of Baroda (BOB) Fastag

After 15 February 2021, all four-wheeler vehicles must have Fastag installed on them to pay the toll tax at the toll plazas. Fastag is now mandatory for all vehicles while crossing the toll plazas at the National Highways. The Fastag can be purchased from the Bank of Baroda(BOB) either 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 an account with BOB then you only need the vehicle’s RC copy for purchasing the Fastag. When you buy a Fastag from Bank of Baroda then it is valid for five years from the date of purchasing.

Kotak Mahindra Bank Fastag

National Highways Authority of India started Fastag earlier in the initial stages at a few Toll plazas of the major cities but then roll out it completely after 15 Feb 2021. It is now possible to purchase a new Fastag from Kotak Mahindra Bank also. Fastag can be purchased 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 which is fixed by NHAI for all the banks.

Union Bank of India Fastag

With more than 120 million customers, Union Bank of India also known as UBI is one of the top Government-Owned banks and now it is providing another important service to the users and that is Fastag. Union Bank of India is giving the opportunity to 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, then you have to pay double toll tax at the toll plazas and also have to wait in the long lines. Therefore Union Bank of India is providing the facility to buy Fastag easily and quickly to avoid double toll tax and the need of waiting at the toll plazas.

In order to purchase Fastag from the Union Bank of India, you have to fill an application form and submit photocopies of all required documents. After buying Fastag from Union Bank of India, you can link with your bank account or debit, credit card. If your Fastag is not linked with any prepaid account, then you have to recharge it for the toll payments.

IDFC First Bank Fastag

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 bank or private banks like IDFC First Bank by applying offline or online. As Fastag is a rechargeable device so 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 by using Netbanking, Debit Card, Credit Card, or UPI mode of payments.

Indian Bank Fastag

While purchasing a new vehicle, then Fastag is provided along with it at the time of issuing the RC. Owners of old vehicles can purchase 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. But applying Fastag online through the official Fastag portal of Indian Bank is always convenient as you can fill the application form in a few minutes from your home.

Applying Fastag online from Indian Bank helps you to avoid waiting in the queues at the bank’s branch. Indian Bank also provides cashback offers and many other discounts on buying Fastag.

Karur Vysya Bank (KVB) Fastag

The main objective of Fastag is to enhance cashless payment at the toll plazas and to make the traveling through National Highways Fastag without having to wait for long at the plazas. By taking this into account, Karur Vysya Bank has also made it possible for the 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 Fastag

Google Pay is another major online mobile payment application which is providing the best Fastag services to vehicle owners. Currently, Google Pay is providing the facility of purchasing Fastag only from ICICI bank. So Google Pay gives the option to purchase Fastag to vehicle owners with the help of its app and delivers it free of cost to your home. 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, first of all, you have to 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 have to provide various details like Vehicle no., 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 above-mentioned fees.
  • 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 easily.

PhonePe Fastag

PhonePe has also made a mark as the leading mobile payment application and is offering a large number of services including buying and recharging Fastag. Like Google Pay, for now, it is possible to purchase only ICICI Bank Fastag through PhonePe. But it is likely that PhonePe will support and make partnerships with other banks also to purchase Fastag. To purchase Fastag from PhonePe, in addition to Vehicle RC, you will also have to give your personal identity documents also. You can follow the below steps to purchase Fastag from PhonePe.

  • Open the PhonePe app on your mobile phone.
  • Under Recharge & Pay Bills section you have to click on the ‘See All’ option.
  • A list of further options appears up where you will ‘Buy Fastag’ option in the ‘Purchases’ section.
  • Here you are required to enter information like 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 entered information before submitting and then make the payment by using any method of payment.
  • Once you are done with Payment, click on submit to complete the process of applying ICICI Bank Fastag using PhonePe.

Which is the best Fastag to buy?

If you have a vehicle and are planning to purchase a Fastag for it, then you should choose the best service provider because only then you will be able to take the advantage of services and facilities provided by Fastag.

There are around 34 Fastag service provider banks and payment applications which provide Fastag to vehicle owners. Many new providers are joining this list and so there is huge 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 own 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?

If we talk about the cost or charges of purchasing a new Fastag, then it includes the cost of Tag Issuance Fees, Security deposit which is refundable, and the minimum recharge amount. The Tag issuance fees are fixed by NHAI 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 have to pay a refundable security deposit of Rs. 200 to Rs. 500 which depends upon the category or type of vehicle i.e whether you are purchasing a Fastag for a personal vehicle, commercial vehicle or heavy construction machinery vehicles, etc.

You also have to maintain some minimum balance in your Fastag which can be from Rs. 100 to Rs. 500.

If you are looking for the cheapest service provider then we suggest you to purchase it from Paytm, because it doesn’t charge any convenience fees for applying Fastag, and also there is no need for the security deposit.

You can purchase a Fastag from Paytm for just Rs. 350. The full 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 best offers?

All Fastag service providers regularly bring various offers and discounts for their customers. These offers come in various forms and the most popular Fastag offer is the cashback offer. You can get a cashback offer on purchasing a new Fastag or when your 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.

If you want a cashback offer on your Fastag, then Paytm’s cashback offer is the best. Paytm provides various cashback offers to Fastag users from time to time. Currently Paytm is running a very good 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 have to use the code ‘LUCKY500‘ to claim this cashback offer.

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