In recent years, India has undergone a digital transformation that has transformed the way people live, work, and conduct business. One of the key enablers of this transformation has been the adoption of FASTag, a digital toll collection system that has revolutionized the way vehicles move on Indian highways. FASTag has not only reduced congestion and travel time but has also contributed to making India a more digitally advanced nation. In this article, we will explore how FASTag has enabled Digital India and changed the way we travel.
Mobile banking services offered by reputed banks can help you access your FASTag seamlessly, besides recharging it and checking your FASTag balance at any hour. Apps like IDFC FIRST Bank’s FIRSTForward app also facilitate parking payments and instant fuel discounts. However, you must also know about the charges deducted from your FASTag account when you make a toll payment. This article enlists 5 FASTag fees that you must be aware of. Read on.
- Tag joining fee
Any FASTag user must know about three crucial FASTag charges – the tag joining fee, the security deposit, and the threshold amount. The tag joining fee is a one-time fee to the customer when registering as a FASTag user. The deduction of this fee from the customer’s bank account follows the initiation of the customer’s FASTag for their vehicle. The current tag joining fee charged is ₹ 100, including applicable taxes.
- Security deposit
The second charge you must know about is the security deposit. The bank charges a nominal fee as a security deposit on FASTag account opening. The security deposit is completely refundable in the event of the closure of the FASTag account and is determined based on the vehicle class. In the case of insufficient funds in the customer’s FASTag account, the security deposit depletes to adjust any outstanding toll charges.
- Threshold amount
While activating a FASTag, a “threshold amount” is deducted from the customer depending on their vehicle’s “vehicle class”. It is the minimum FASTag recharge amount applicable while activating the tag. Here is a summary of the threshold amount charged from the owners of various categories of vehicles:
|NPCI vehicle class||Description||Security deposit (in ₹)||Threshold amount (in ₹)|
|4||Car/Jeep/Van/Mini light commercial vehicle||100||0|
|5||Light commercial vehicle (2-axle)||300||200|
|7||Bus (2-axle) / Minibus, Truck (2-axle)||400||500|
|12||Tractor / Tractor with trailer, Truck (4,5,6-axle)||500||500|
|15||Truck (7-axle and above)||500||500|
|16||Earthmoving/heavy construction machinery||500||500|
- Convenience Fee
Banks charge a convenience fee for recharging your FASTag online. The convenience fee charged on using a credit card is 1.1% of the transaction value. For a debit card, it is 1% of the transaction amount, and the Net banking convenience fee charged is ₹ 8 per transaction. Please note that these charges revise from time to time.
- FASTag Terms and Conditions
You must also know about a few FASTag charges-related terms and conditions:
- The Goods and Services Tax (GST) applies to all three FASTag charges mentioned in this article
- All the charges mentioned in this article are subject to change
- Banks also reserve the right to terminate a customer’s FASTag
If you know the details mentioned in this article about FASTags charges, be assured thatyou will know the provenance of every fee deducted from your FASTag account. However, ensure to choose the right FASTag issuer for a hassle-free highway ride.