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According to ET, a FASTag user has to incur charges, including a one-time issuance fee, re-issuance fee, and a security deposit.
According to the HDFC Bank website, the charges for FASTag activation are nominal. However, there are three types of FASTag charges:
- Tag Joining Fee: This is a one-time charge levied only when you register as a FASTag user. It initiates and activates the Tag for your vehicle.
- Security deposit: A small amount is taken as a security deposit, which is fully refundable if there are no dues when you close the account. The amount varies depending on your vehicle class. If there are insufficient funds in your Tag account, the security deposit might be used by banks to cover outstanding toll charges.
- Threshold amount: This is the minimum recharge amount required at the time of Tag activation. The entire threshold amount is available in your Tag account to pay for toll charges immediately upon activation. The threshold amount depends on the vehicle class.
Comparison of charges by top issuers
Here’s a list of leading FASTag issuers and their associated fees, based on website information as of February 24. The security deposit amount mentioned is for cars, jeeps, and similar vehicles.
HDFC Bank
The current HDFC fee is Rs 100, which includes applicable taxes. The security deposit for cars, jeeps, vans, Tata Ace, and similar mini-light commercial vehicles is Rs 100.
ICICI Bank
The bank charges Rs 99.12, including GST, as a Joining Fee. The security deposit for cars, jeeps, and vans is Rs 200, and the threshold amount is also Rs 200.
SBI
State Bank of India does not charge any tag fees or security deposits for cars, jeeps, vans, Tata Aces, and other compact light commercial vehicles. However, it’s essential to note that a minimum balance of Rs 200 is required for FASTag activation.
Axis Bank
Axis Bank does not charge any issuance fee for FASTag. For re-issuance, the bank charges Rs 100 inclusive of all taxes. Additionally, the bank charges a security deposit of Rs 200 for vehicles like cars, jeeps, and vans.
Bank of Baroda
Baroda FASTag has a one-time fee of Rs 150 plus Goods and Services Tax (GST). The refundable security deposit varies based on the vehicle type. For cars, jeeps, and vans, a security deposit of Rs 200 is charged, along with a threshold limit of Rs 200.
Canara Bank
Canara Bank charges Rs 100 for both issuance and re-issuance fees. Additionally, there is a convenience fee of the actual cost plus Rs 10.00 for online reload of the Tag. For vehicles like cars, jeeps, and vans, the security deposit is Rs 200, and the threshold amount is Rs 100.
IDBI Bank
IDBI Bank charges a re-issuance fee of Rs 100, inclusive of taxes. The bank also charges a tag deposit of Rs 200, and there is no threshold amount required.
Kotak Mahindra Bank
The bank charges Rs 100 for VC4 as the tag joining fee and Rs 200 as the tag deposit. There are no charges for re-issuance, and the threshold amount is not applicable.
IndusInd Bank
IndusInd Bank charges a security deposit of Rs 200 and a threshold amount of Rs 200 loaded into the customer’s wallet. They also charge a one-time tag joining fee of Rs 100 and a reissuance fee of Rs 100.
PNB
For vehicles like cars, jeeps, and vans, a security deposit of Rs 200 is charged, and the threshold amount is Rs 100. A replacement fee of Rs 100 will be applicable.
Airtel Payments Bank
FASTag has a one-time fee of Rs 100 including GST. The tag joining fee, which is a one-time fee, is Rs 99.99 including all applicable taxes. Similarly, the one-time tag re-issuance fee is Rs 99.99 including all applicable taxes. The refundable security deposit varies based on the vehicle type. For cars, jeeps, and vans, the one-time security deposit amount is Rs 150.
Paytm
Paytm charges Rs 100 for the Tag Issuance Fee (One-time), which includes Rs 84.75 for the fee and Rs 15.25 for GST. Additionally, they charge Rs 100 (inclusive of GST) for Tag Reissuance Fee. Paytm also charges Rs 250 as FASTag Security Balance.
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