FASTag has revolutionised toll payment systems in India, offering a convenient and cashless experience for highway travellers.
Two prominent players in the market, Axis Bank and State Bank of India (SBI), provide FASTag services.
Here, we will extensively compare Axis Bank FASTag and SBI Bank FASTag, examining critical aspects such as issuance charges, security deposit, and additional features while highlighting factual information and figures.
Advantages of SBI and Axis Bank FASTag
There are many advantages of using a FASTag, whether from SBI or Axis Bank:
- Wide Acceptance: Both SBI and Axis Bank FASTag enjoy wide acceptance at toll plazas across the country.
SBI Bank FASTag is accepted at over 346 toll plazas, while Axis Bank FASTag is accepted at over 500 toll plazas.
- Easy Recharge: Both SBI and Axis Bank FASTag offer convenient and easy recharge options.
You can recharge your FASTag account online through their portals or mobile apps. You can also recharge at branch offices or through other authorised channels.
- Multiple Payment Options: SBI and Axis Bank FASTag provide various payment options for recharging your account.
You can link your FASTag with your respective bank accounts for seamless payments. Both banks also support auto-debit from your linked account.
- Account Management: Both SBI and Axis Bank FASTag offer online account management facilities.
You can easily manage your FASTag account, check transaction history, view and download statements, and update your account details through their respective online portals or mobile apps.
What are the Charges for SBI and Axis Bank FASTag?
Both Axis Bank and SBI FASTags have a standardised issuance charge of ?100 across all vehicle categories. However, the security deposit differs between the two banks.
Axis Bank FASTag requires a security deposit ranging from ₹200 to ₹650, depending on the vehicle class.
Comparatively, SBI FASTag has a uniform security deposit of ?400 for all vehicle classes.
Minimum Balance Requirements
To ensure a seamless toll payment experience, both Axis Bank and SBI FASTags have minimum balance requirements.
Axis Bank FASTag mandates a minimum balance ranging from ₹1 to ₹650, depending on the vehicle class.
In contrast, SBI FASTag has a zero minimum balance requirement for Light Commercial Vehicles (LCV) and Car/Jeep/Van categories while requiring a minimum balance of ₹300 for all other vehicle classes.
How to Recharge your FASTag account?
Axis Bank and SBI offer convenient online recharge options for their FASTag accounts.
Axis Bank customers can recharge their FASTags through the Axis Bank FASTag portal or the Park+ app.
SBI FASTag users can recharge via the SBI FASTag customer web portal or the Park+ app.
These user-friendly platforms allow customers to recharge their accounts swiftly and easily.
Interoperability of SBI and Axis Bank FASTag
One of the key advantages of FASTag is its interoperability across multiple toll plazas.
Axis Bank FASTag and SBI FASTag provide interoperability, enabling users to make payments on various national highways in India without needing separate tags.
According to recent data, the National Payments Corporation of India (NPCI) reported that as of March 2023, over 2.5 crore FASTags were issued, contributing to seamless travel experiences for millions of commuters nationwide.
Customer Support for FASTag
If you encounter any issues or have questions regarding your FASTags, you can call the customer support of each bank.
At SBI Bank FASTag, you can contact their customer service at 1800-11-0018. They will be happy to assist you with any concerns you may have.
Similarly, if you are an Axis Bank FASTag user and need assistance, contact Axis Bank's customer service at 1800-419-8585.
Their dedicated support team will provide the necessary guidance and help resolve any queries related to Axis Bank FASTag.
Keeping these contact numbers handy is always recommended for a seamless experience and quick resolution of any concerns you may encounter with your FASTag account.
Additional Features of SBI Bank FASTag And Axis Bank FASTag
Axis Bank FASTag and SBI FASTag come equipped with additional features to enhance user experience.
These features include:
Automatic toll payment
SMS notifications for transactions and low-balance alerts
Online account management facilities
Axis Bank FASTag users can also avail themselves of benefits from the Park+ app, such as contactless parking and fuel payments.
SBI FASTag users can enjoy the added advantage of availing discounts on toll payments, contributing to cost savings.
Streamline the FASTag experience with Park+
When evaluating Axis Bank FASTag and SBI Bank FASTag, it is crucial to consider factors such as issuance charges, security deposit, minimum balance requirements, recharge options, interoperability, customer service, and additional features.
Both banks offer online recharge facilities and interoperable FASTags, ensuring seamless travel experiences on national highways.
Additionally, consider exploring the Park+ App, which provides added benefits such as contactless parking and fuel payments for Axis Bank FASTag and SBI Bank FASTag users.
Make the most of your FASTag experience with the convenience offered by Park+. So, whether you choose SBI or Axis Bank FASTag, Park+ has got you covered. Get the app now!