SBI FASTag: Buying, Adding Money, and Its Benefits
What is FASTag?
As you now, FASTag is becoming mandatory in India from December 1. But what exactly is a FASTag? Well, FASTag is a revolutionary step that works like a prepaid tag facility for vehicles at the toll plazas that allows one to pay the toll charges without having to wait at the toll plaza. In other words, it allows the non-stop movement of the vehicles without creating traffic at toll plazas. It works on the principles of radio frequency identification or RFID technology and allows for the deduction of the toll charges automatically. After the FASTag has been activated, the antennae at the toll plaza can automatically passively read the information which is affixed on the vehicle’s windscreen. Also note that, if a vehicle passes the toll plaza without a FASTag on it, then they will have to pay twice the toll charges.
Buying The SBI FASTags?
Customers will have to submit their KYC document along with the registration certificate (RC) of their vehicle, KYC documents of the owner and the passport size photo of the vehicle owner. After the SBI FASTag purchase has been made, you will have to activate the FASTags by entering your details and the details of the vehicle which were submitted for buying SBI FASTags in the MY FASTag mobile application.
SBI Fastag Website: SBI Fastag
How to add money in the FASTag account through SBI?
In order to add money or recharge in FASTag, you can use the FASTag wallet. Also, you can link your FASTag wallet to your registered number bank account where the minimum rechargeable amount would be 100 rupees. Although, at first you will first create a user ID or Wallet ID in the FASTag portal along with a suitable password and after you have logged in with your registered ID you will be able to see the “Payment” option. In the payment option, you can click on the “Recharge” option after which you can select the wallet ID to add the money.
Most importantly, a limited KYC (Know Your Customer) holder will only be able to add a maximum of 10,000 rupees in their FASTag prepaid account at a time. On the other hand, a full KYC holder can add up to one lakh rupees at a time. There is various payment method available which includes credit card, debit, net banking, UPI, etc.
Benefits of SBI FASTags
One of the major reason why you should opt for SBI FASTags is as followed:
- On all the national toll plazas, SBI offers cashback on all the transactions.
- It can effectively help you in saving time, money, and fuel.
- SBI is available throughout the country which means one can easily recharge or top up their FASTag wallet or account via various authorized State Bank of India service providers.
- There are various options available online for recharging your SBI FASTag account through dedicated portals for the customers. These options include net banking, credit card, debit card, UPI, wallets, etc.
- Also, you can keep a track of the expenses including the toll payment history, transaction history, and the amount which is left in your account through the customer portals.
This is how you can buy the SBI FASTags and recharge them as well. FASTag is the modern-day invention created to solve the issues which are related to the toll plazas. It effectively saves people a lot of time which they otherwise spend stuck in the long queue in the toll plaza with their vehicle. Moreover, the Indian Highway Management Company Limited (IHMCL) has been working towards popularizing this initiative and they have started doing it by providing 2.5 percent cash back on every toll plazas which are there in the national highways.