What is FASTag?
Fastag is an electronic toll collection technique. It uses radio frequency identification (RFID). Fastag is a recharged prepaid tag that you have to place on the windshield of your vehicle from the inside.
How does FASTag work?
As soon as your vehicle approaches the toll plaza, the sensor on the toll plaza tracks the fastag on the windscreen of your vehicle. After this, the fee levied on that toll plaza is deducted from your FastTag account. In this way, you are able to pay the fee without stopping at the toll plaza. This tag installed in the vehicle will start its work as soon as your prepaid account is activated. At the same time, when the amount of your Fastag account is exhausted, you will have to recharge it again.
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Where to buy FASTag?
You have several options to purchase FASTag. You can buy it from e-commerce platforms like Paytm, Amazon.in and Flipkart. Apart from this, Fino Payments Bank and Paytm Payments Bank also issue fasttags. Not only this, you can also buy it from the bank. Banks currently offering FASTags include € HDFC Bank, ICICI Bank, SBI, Kotak Bank, Axis Bank as well as Paytm Payments Bank.
What is the cost of purchasing FASTag?
The cost of purchasing FASTag depends on two things. First of all, the vehicle for which you are buying it is a car or a jeep-van, or a bus, truck, commercial vehicle or construction machine, depending on it. Secondly, what will be their fees and security deposit policies in relation to the issuance of the bank from which you are buying FASTag?
For example, like at this time if you buy a FASTag for a car from Paytm, then you will incur Rs 500. This includes a Rs 250 refundable security deposit and 150 minimum balance that will have to be maintained. If you buy it from ICICI Bank, you will incur Rs 99.12 for the tag and Rs 200 as the minimum balance. However, many banks offer FASTAG from time to time for free or even nominal price to increase their participation. The National Payment Corporation of India has fixed the price of Fastag at Rs 100. Apart from this, a security deposit of Rs 200 has to be paid.
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How to recharge FASTag?
If FastTag is connected to NHAI prepaid wallet, it can be recharged through check or through UPI / Debit Card / Credit Card / NEFT / Net Banking etc. If the bank account is linked to the fasttag, the money is deducted directly from the account. If the Paytm wallet is linked to the fasttag, the money is deducted directly from the wallet.
What happens if there is a low balance in the FASTag wallet?
You will be able to cross the toll even if there is a minimum balance in the FASTag wallet. Recently, NHAI has told FASTAG issuing banks that they cannot make it mandatory to keep any minimum balance other than security deposit. Earlier various banks were also asking to keep minimum balance in addition to the security deposit in Fastag. Some banks were asking to keep a minimum balance of 150 rupees and some banks of 200 rupees. Due to the minimum balance, many FASTag users were not allowed to pass through a toll plaza even after having sufficient balance in their FASTag account / wallet.
Can we use a fasttag with two or more vehicles?
No, you have to buy two different fasttags for two vehicles.
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What is the validity of FASTag?
From the date of issue of FASTag, Fastag has validity for next five years. There is no validity of your recharge, that is, if you do not travel on the National Highway for a long time after the recharge, then it will be valid till the validity of the recharge fastag.
FASTag 80% of total toll collection
There are more than 2.54 crore Fastag users across the country. FASTag contributes 80 per cent of the total toll collection on the highway. Currently the daily toll collection through FASTag has crossed Rs 89 crore. Significantly, from 15 February 2021, payment on the toll plaza via Fastag will become mandatory. This is because National Highways Authority of India is aiming to get 100% cashless toll at toll plazas across the country.