FASTag – Benefits, cost and all you need to know about it

A FASTag is a tag that you attach to the windshield of your car. This is Radio-frequency Identification (RFID) enabled and is linked to your vehicle registration. When you drive through any toll plaza, that has FASTag readers installed overhead. As your vehicle passes beneath them, the RFID code is detected, read, the required amount is deducted from the prepaid balance, and your journey through the toll plaza is authenticated. FASTag is rechargeable and easy to use.

How to Get the FASTag?

The first thing is to buy a FASTag for your car. You can either buy one at a toll plaza anywhere in India. You need to carry your identification and the vehicle registration documents along with you. This is a mandatory KYC process.

You can also buy one on Amazon.in or approach individual banks for these FASTags. The banks that are offering FASTags are HDFC Bank, ICICI Bank, State Bank of India, Kotak Mahindra Bank, Axis Bank and also the Airtel Payments Bank and Paytm Payments Bank.

If you buy the FASTag from the bank where you have your savings or salary account, they can pre-link it with your bank account for easy recharge in future.

How much the FASTag cost?

There are different prices for the FASTag depending on which dealer you decide to buy from.

Paytm

From Paytm the FASTag will cost Rs 500:

Rs 100 for the tag, Rs 250 as refundable security deposit and Rs 150 as the first recharge for FASTag. The minimum threshold amount for the Paytm issued tag is also Rs 150.

HDFC

From HDFC the FASTag costs Rs 400:

Rs 100 for the tag, Rs 100 as reissuing fee and Rs 200 as a security deposit. By the way, HDFC Bank has Rs 100 as the minimum threshold for your account to remain active.

Where can you get FASTag?

FASTag can be bought from 28,500 points of sale locations set up at various banks, the National Highway and the Indian Highways Management Corporation Ltd, a company set up by NHAI. "This includes all NH fee plazas, RTOs, common service centres, bank branches, transport hubs and selected petrol bunks," says an official release from NHAI.

If you own a car, van or jeep, the FASTag may be bought online from Amazon.in or approach individual banks for these FASTags. The banks that are offering FASTags are HDFC Bank, ICICI Bank, State Bank of India, Kotak Mahindra Bank, Axis Bank and also the Airtel Payments Bank and Paytm Payments Bank.

Download my FASTag App to search for the nearest point of sale location or visit www.ihmcl.com or call 1033. NHAI/IHMCL has developed a UPI recharge facility via MY FASTag app for recharge. You can also recharge FASTag by visiting the bank's portals.

Benefits of using FASTag

1. Cash Back up to 2.5%*

Using FASTag, you can get a cashback of 2.5% on all National Toll payments in FY 2019-20. Terms and conditions are applicable here.

2. Saves Fuel and Time

At the toll plaza, FASTag is read by the tag reader, and the toll amount is automatically deducted, the moment vehicle approaches the toll plaza. Car with FASTag need not stop for the cash transaction at the toll plaza.

3. SMS and Email Alert of Transactions

The moment transaction is done in the tag account you will receive SMS & Email alerts on your registered mobile number / Email address.

4. Online and web recharge

You can quickly recharge your tag account online through, Credit Card/ Debit Card or Net Banking. There are web portals also for customers. Customers can access their statements by logging on the FASTag customer portal.

5. Prepaid Toll Pass

You don't have to worry about carrying cash or change for the toll payments