FASTag: Deals And Offers You Can Avail Before December 1

For the uninitiated, FASTag employs RFID (Radio-frequency Identification) technology to deduct toll charges as the vehicles pass by the toll plaza. This is time-saving as vehicles need not stop to pay cash for the toll payment, thereby making it easier for everyone.

Notably, it is simple to use FASTag as it is similar to mobile wallets. You can reload the same whenever you want and pay for the toll via these tags. The electronic toll collection tags are available through different service providers such as Paytm, banks, fuel stations, etc. You can also buy FASTags from Paytm, Amazon India, toll plazas across the country, HDFC Bank, ICICI Bank, and more.

To purchase these tags, you need to carry ID proof, address proof, and vehicle registration documents. Already, the NHAI (National Highways Authority of India) has requested banks to provide FASTags for free. In the meantime, there are some attractive deals for those looking forward to upgrade to FASTag.

Paytm FASTag Offer

If you are looking forward to buy FASTag from Paytm, then the cost is Rs. 100 for the RFID tag. However, the wallet has waved off this cost and offers it for free. You need to pay Rs. 400 of which Rs. 250 will be a refundable security deposit and Rs. 150 will be the minimum balance.

In addition to these, Paytm also offers a movie ticket voucher worth Rs. 150, which takes the effective price of the FASTag down to Rs. 250.

Bank Offers On FASTag

Talking about bank offers, HDFC is offering FASTag for Rs. 400. It sells it for Rs. 100, which is the issuance fee and you will have to pay the refundable security deposit of Rs. 200 and Rs. 100, which goes for the first recharge.

On the other hand, ICICI is selling it for Rs. 500 comprising Rs. 99 issuance fee, Rs. 200 refundable security deposit, and Rs. 200 first recharge. SBI is also charging Rs. 400, which is split into Rs. 100 issuance fee, Rs. 100 minimum balance, and Rs. 200 security deposit. Kotak Mahindra has waived off fees for those who want to buy FASTag before December 1.

Notably, these are the pricing of FASTag for private cars, buses and trucks. And, the cost of the RFID tag for commercial vehicles will vary.

FASTag Cashbank Offers

Until March 2020 the toll payments made via FASTag will comprise up to 2.5% cashback. Only SBI will offer up to 7.5% cashback, claims the website.

When it comes to other features, you will get the ability to load money easily using mobile wallets, debit and credit cards, and UPI. However, some banks might charge you to load money using credit cards. And, there will be notifications sent via email and SMS indicating when the account balance is low.