List of Authorized Payment Banks For FASTag Services
The FASTag system, introduced to ensure seamless toll payments directly from vehicles, is facilitated by a wide range of banks and financial institutions across India. This system utilizes Radio Frequency Identification (RFID) technology, enabling vehicles to pass through toll plazas without stopping, thereby saving time and fuel, and reducing congestion. FASTag became mandatory for all vehicles in India in February 2021, and users can enjoy benefits such as cashback on toll payments, time-saving due to contactless payments, cost-effectiveness through discounts on toll charges, easy online recharge options, reduced carbon footprint, improved tracking and transparency of toll transactions, and seamless interstate travel.
Also Read: How to Port Your FASTag? (Quick Easy Steps)
When choosing a FASTag provider, it’s important to consider factors such as fees, availability and ease of obtaining the FASTag, compatibility with your vehicle, customer support and services, recharge options, balance inquiry and transaction history, additional features like SMS and email alerts, transaction history, or loyalty programs, and the technology used for toll collection.
Several banks and non-banking financial companies (NBFCs) offer FASTag services in India. Notable providers include State Bank of India (SBI), ICICI Bank, HDFC Bank, Axis Bank, Airtel Payments Bank, Kotak Mahindra Bank, Federal Bank, and Punjab National Bank. Each of these providers offers unique benefits, ranging from widespread network coverage and ease of recharge to additional features like loyalty programs and SMS alerts.
- State Bank of India (SBI)
- ICICI Bank
- HDFC Bank
- Axis Bank
- Airtel Payments Bank
- Kotak Mahindra Bank
- Federal Bank
- Punjab National Bank
- IDFC First Bank
- Karur Vysya Bank
- Equitas Small Finance Bank
Furthermore, the Park+ app, in collaboration with IDFC bank, has launched India’s first all-in-one FASTag, aiming to simplify the management of vehicle-related operations through a unified platform. This solution addresses common issues faced by vehicle owners, such as website inaccessibility due to heavy traffic, by integrating cutting-edge technology with a user-friendly interface.
For those interested in applying for or managing their FASTag, the National Electronic Toll Collection (NETC) provides comprehensive information on the process, benefits, and key features of FASTag, including saving fuel and time, the convenience of electronic payments, no need for carrying change, online recharge capabilities, and SMS alerts for transactions.
