Just Like Insurance, Now Fastag Is Also Mandatory – Here’s All You Need To Know

Just Like Insurance, Now Fastag Is Also Mandatory – Here’s All You Need To Know

July 30, 2020

The FASTag is a rechargeable tag attached to the windscreen of a vehicle. It facilitates an automatic deduction of charges when the vehicle passes a toll plaza. Thanks to the convenience of the FASTag, you no longer need to worry about long queues and traffic jams on the highway. The FASTag works by functioning on radio-frequency identification.

At present, FASTags are mandatory for all personal and commercial vehicles plying Indian roads. Any motorist who does not have this tag in place will find themselves paying up to double the usual fee for crossing a particular toll plaza. Do remember that it is also mandatory to have a basic car insurance policy in place to ply your vehicle legally.

purchase and activation of Fastag

A motorist can buy their FASTag from one of the 22 banks that have been sanctioned to sell them. These tags can be purchased at the bank branch or even at the toll plaza.

One you have purchased your FASTag, you must download the ‘My FASTag’ application from the Apple Store or Google Play Store and register your details. You can choose to link any of your bank accounts for deduction of payments. Moreover, the National Highways Authority of India has also established a prepaid wallet that can be used to make FASTag payments for customers who would not want the money to directly get cut from their bank accounts. The prepaid wallet can be recharged via NEFT, credit/debit card, and UPI.

Appeared on the market a new product in the insurance of project ...

If you are not too familiar with how to download an app on a smartphone, you can simply visit one of the banks that has permissions to issue a FASTag. The bank staff will help you with the necessary activation.  When you head over to the bank to activate your FASTag, do remember to carry along the documents required by the bank for the KYC procedure. You could call them up and inquire into the documents needed.

The maximum cost for a FASTag is Rs 100.

Do note that a single FASTag cannot be shared by two vehicles. You need to purchase an individual FASTag for each vehicle you own. Also, if you lose your FASTag, it may get misused. Therefore, you would need to contact the bank you purchased it from and ensure that the tag gets blocked.

So, if you have not got your very own FASTag yet, it is time you do. Indeed, the FASTag looks set to make life easier for motorists. It minimizes any hassles of fiddling with your wallet to find money with the pressure of a long line of cars honking behind you. Also, don’t forget to ensure that your car insurance is renewed and valid. Third-party car insurance is compulsory for all vehicle owners as per the regulations of The Motor Vehicles Act, 1988. So, make sure that you are legally compliant as a motorist with your FASTag and your car insurance in place, both of which are truly designed to help give you peace of mind. Hope this article helps you.

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