From December 1, enjoy cashbacks as you zoom past toll plazas

By: |
Published: November 18, 2019 6:59:59 PM

Apart from saving time and fuel by avoiding queues at the toll plazas, commuters will also have host of other benefits as banks come up with offers on FASTag.

cashback, toll plaza, national highways, state highways, FASTag, Radio Frequency Identification Device, RFID, accidental death cover, save time, save fuelFASTag is presently operational at over 400 toll plazas across national and state highways.

To reduce the bottlenecks at toll plazas, Ministry of Road Transport & Highways (MoRTH) for National Highways has issued a directive that from December 1, payments at toll plazas on national highways will be accepted digitally through FASTag only.

FASTag is presently operational at over 400 toll plazas across national and state highways and will also be implemented at other toll plazas shortly, which would eliminate the need for commuters to stop and make the payment in cash.

A Radio Frequency Identification Device (RFID), FASTag is a reloadable tag affixed on the windscreen of the vehicle, that enables automatic deduction of toll charges.

Owned by Indian Highways Management Company Ltd (IHMCL), an organisation that carries out electronic tolling and other ancillary projects of NHAI, brand FASTag is easy to use, which allows the vehicles with the tag pass through the toll plaza without stopping for paying toll in cash.

Apart from saving time and fuel by avoiding queues at the toll plazas, commuters will also have host of other benefits as banks come up with offers on FASTag. The tags may be procured either online in a hassle-free manner by filling out a digital application and uploading the required documents pertaining to the vehicle or by visiting bank branches and filling out physical application form to get a tag issued.

FASTag accounts may be reloaded online through, credit card, debit card, internet banking or mobile banking.

Apart from convenience, users may also avail a cashback of up to 2.5 per cent on transactions done on all National Highways Toll Plazas using FASTag in FY 2019-20.

Apart from cashback, some banks also offer accidental death cover of Rs 1,00,000 to on-duty drivers while driving the vehicles.

FASTag users will receive SMS/Email alerts on their registered mobile numbers / Email addresses for all the transactions done in his/her tag account. The customers may also log in on the FASTag customer portal to access their statements.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Complimentary services offers by hotels are not FREE: Supreme Court
2Tax-free Senior Citizens Savings Scheme (SCSS): SBI Research proposal
3Bank Deposit Insurance: Are bank deposits adequately insured?