Are you considering getting a FASTag for hassle-free toll payments? In this article, we delve into the comparison between SBI Bank FASTag and Bank of Maharashtra FASTag.
Whether you're a frequent traveler or a daily commuter, understanding the similarities and differences can help you make an informed decision. Let's explore which FASTag option suits your needs best.
SBI Bank FASTag and Bank of Maharashtra FASTag utilise Radio Frequency Identification (RFID) technology for electronic toll collection.
A unique identification number is assigned to your FASTag, linked to your vehicle's registration details.
When you pass through a toll plaza, the RFID reader scans the tag, deducts the toll amount from your FASTag account, and allows you to pass through without needing cash transactions.
Here are the advantages of using SBI Bank FASTag and Bank of Maharashtra FASTag:
Complimentary FASTag for bank customers: If you are an SBI Bank customer, you can obtain a FASTag for free, eliminating the need to pay the tag issue fee.
Faster transit through toll plazas: By using FASTags, you can bypass long queues and save time as the toll amount is deducted automatically, enabling a smoother and quicker passage.
Reduced dependency on cash: With FASTags, there's no need to carry cash for toll payments, ensuring a hassle-free travel experience.
Transaction history and statements: You can access your transaction history and account statements through the mobile app or online portal, providing transparency and record-keeping convenience.
Multiple recharge options: FASTags offer various methods for recharging your account, including net banking, debit card, credit card, UPI, PhonePe, and Amazon Pay.
Toll exemption by government regulations: FASTags adhere to the toll exemption rules established by the government for specific categories such as emergency vehicles, military vehicles, government vehicles, and vehicles owned by educational institutions.
Documents required for SBI Bank and Bank of Maharashtra FASTag:
Vehicle Registration Certificate (RC).
KYC documents such as PAN Card, Aadhaar Card, or Voter ID.
Passport-size photograph.
You can recharge your SBI Bank FASTag or Bank of Maharashtra FASTag account using the Park+ mobile app.
Download the Park+ app
Register your vehicle details
Select the FASTag recharge option
Choose your preferred payment method, such as debit card, credit card, net banking, or UPI, to complete the recharge.
Issuance fee: Rs. 100
Security deposit:
Car/Van/Jeep/Tata Ace & Mini Light Commercial Vehicles: Rs. 200
Light Commercial Vehicles (LCV): Rs. 300
Three Axle Commercial Vehicles: Rs. 400
Minimum balance: Rs. 100
Recharge fee: Nil
Reversal charges:
Reversal of excess recharge: Nil
Reversal of fraudulent transaction: Nil
Reversal of canceled tag: Rs. 50
Issuance fee: Rs. 100
Security deposit:
Car/Van/Jeep/Tata Ace & Mini Light Commercial Vehicles: Rs. 200
Light Commercial Vehicles (LCV): Rs. 300
Three Axle Commercial Vehicles: Rs. 400
Minimum balance: Rs. 100
Recharge fee: Nil
Reversal charges:
Reversal of excess recharge: Nil
Reversal of fraudulent transaction: Nil
Reversal of canceled tag: Rs. 50
FASTag can get blacklisted due to reasons such as insufficient balance, violation of FASTag rules, or misuse of the tag.
Ensure that you maintain sufficient balance in your FASTag account and adhere to the rules and regulations to avoid blacklisting.
You can check the balance of your SBI Bank FASTag or Bank of Maharashtra FASTag account through the respective bank's website or mobile app.
Log in to your account using your credentials and navigate to the FASTag section to view your balance.
You can also opt for SMS alerts to receive regular updates about your FASTag balance.
Making the right choice for your FASTag is crucial for a seamless toll payment experience. After analysing the features and services offered by SBI Bank FASTag and Bank of Maharashtra FASTag, it's clear that both have their merits.
To simplify your toll payment experience even further, we recommend downloading the Park+ app. With Park+, you can not only manage your FASTag but also explore other convenient services for car owners. Take the next step and download the Park+ app today to enhance your overall vehicle ownership experience.