The Indian government wants more manageable highway toll payments now. The government created FASTag, an electronic toll system that makes paying tolls easier. You don't have to stop at toll plazas. Many banks and financial institutions in India now have FASTags. These include SBI Bank and Airtel Bank. It's important to compare options in the market to buy the right FASTag for your car.
This guide will compare SBI Bank FASTag and Airtel Bank FASTag in detail. It will assist you in choosing the right one based on your needs and budget.
SBI Bank FASTag v/s Airtel Bank FASTag
To make an informed decision about using SBI Bank FASTag, it's crucial to understand the fees and charges associated with this service.
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SBI Bank FASTag Fees and Charges
SBI Bank FASTag is a convenient and hassle-free solution for electronic toll payments.
- Taxes
Applicable taxes are included in all top-ups and purchases made with SBI FASTag.
- Issuance Fee
SBI Bank charges Rs.100 as a fee for issuing all types of vehicle documents.
- Minimum Balance
The minimum balance refers to the minimum amount required to recharge the RFID tag when activating it.
- Security Amount
The amount of security depends on the kind of car you rent. You will get it back once you close your RFID Tag account.
- Toll Deduction
Toll deductions from the SBI FASTag account will align with the respective toll plaza requirements.
Check out the fees and charges of SBI Bank FASTag
Vehicle Class: Light Commercial Vehicle
Security Amount (in Rs.): 300
Minimum Balance (in Rs.): 300
Vehicle Class: Three-Axle Commercial Vehicles
Security Amount (in Rs.): 400
Minimum Balance (in Rs.): 300
Vehicle Class: Bus / Truck
Security Amount (in Rs.): 400
Minimum Balance (in Rs.): 300
Vehicle Class: 4 to 6 axle
Security Amount (in Rs.): 400
Minimum Balance (in Rs.): 300
Vehicle Class: 7 or More Axle
Security Amount (in Rs.): 400
Minimum Balance (in Rs.): 300
Vehicle Class: Heavy Construction Machinery (HCM) / Earth Moving Equipment (EME)
Security Amount (in Rs.): 400
Minimum Balance (in Rs.): 300
Airtel Bank FASTag Fees and Charges
Airtel Payments Bank FASTag is a popular choice for hassle-free toll payments on Indian highways. Airtel Payments Bank charges a one-time FASTag membership cost of Rs. 100. This section will provide a breakdown of the costs and expenses, ensuring you have all the necessary information.
- Tag Reissuance Fee
Airtel Payments Bank charges a one-time fee of Rs. 100 for tag replacement, covering the issuance of a new tag to ensure uninterrupted toll transactions.
- Minimum Balance
To enable toll transactions, customers must maintain a minimum balance of Rs. 150 in their primary account.
- Security Deposit
Airtel Payments Bank requires a refundable security deposit for toll transactions, varying by vehicle category.
Vehicle Class: Car, Jeep, Van, Tata Ace, Similar mini Light Commercial Vehicle
Security Deposit: Rs. 200
Threshold Amount: Rs. 150
Vehicle Class: Light Commercial Vehicle 2-axle
Security Deposit: Rs. 300
Threshold Amount: Rs. 140
Vehicle Class: Three-Axle Commercial Vehicles
Security Deposit: Rs. 400
Threshold Amount: Rs. 300
Vehicle Class: Truck - 3 axle
Security Deposit: Rs. 500
Threshold Amount: Rs. 300
Vehicle Class: Bus 2 axle / Minibus, Truck 2 axle
Security Deposit: Rs. 400
Threshold Amount: Rs. 300
Vehicle Class: Tractor / Tractor with trailer, Truck 4, 5 & 6-axle
Security Deposit: Rs. 500
Threshold Amount: Rs. 300
Vehicle Class: Truck 7-axle and above
Security Deposit: Rs. 500
Threshold Amount: Rs. 300
Vehicle Class: Earth Moving / Heavy Construction Machinery
Security Deposit: Rs. 500
Threshold Amount: Rs. 300
Which Is Better, SBI Bank FASTag Or Airtel Bank FASTag?
Choosing between SBI Bank FASTag and Airtel Bank FASTag depends on individual preferences and requirements. SBI Bank FASTag has an issuance fee of Rs. 100 for all vehicle categories, with varying security amounts and minimum balance requirements.
On the other hand, Airtel Bank FASTag has a one-time membership cost of Rs. 100 and charges a fee of Rs 100 for tag issuance. Airtel Bank also has varying security deposit amounts and requires a minimum balance of Rs. 150. Consider factors such as availability, customer support, toll plaza coverage, and additional features to determine which option suits you best.
Conclusion
When comparing SBI Bank FASTag and Airtel Bank FASTag, it's evident that both services offer convenient and efficient electronic toll payment solutions. The fees may vary slightly between the two, such as the issuance fee, security deposit amount, and minimum balance requirements.
To simplify your toll payment experience even further, download the Park+ app. With Park+, you can manage your FASTag and enjoy a range of other parking and mobility-related services. Visit the Park+ website for more information about FASTag and other convenient features. Make your FASTag recharge hassle-free on Park+ by visiting the FASTag recharge webpage on Park+.