Do you need help deciding between SBI Bank FASTag or IDFC Bank FASTag for your electronic toll collection? This comparison will explore the similarities and differences between these two popular FASTag services. Discover their unique features and benefits to find the perfect fit for your toll payment requirements.
How do SBI Bank FASTag and IDFC Bank FASTag function?
SBI Bank FASTag and IDFC Bank FASTag utilise RFID technology to facilitate electronic toll collection. By attaching an RFID tag to your vehicle's windshield, a unique ID linked to your vehicle's registration details is encoded within it.
When you approach a toll plaza, the RFID reader scans the tag. It then deducts the toll amount from your FASTag account and enables you to pass through without needing cash transactions.
What are the advantages of SBI Bank FASTag and IDFC Bank FASTag?
Here are the benefits of using SBI Bank FASTag and IDFC Bank FASTag:
Complimentary FASTag for bank customers: If you are an SBI Bank customer, you can obtain an SBI 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 in accordance with government regulations: FASTags adhere to the toll exemption rules established by the government for specific categories.
What documents are needed when applying for SBI Bank FASTag and IDFC Bank FASTag?
When applying for SBI Bank FASTag or IDFC Bank FASTag, you will need to provide certain documents to complete the application process. These documents include:
Vehicle Registration Certificate (RC): You will be required to submit a copy of your vehicle's RC. This document serves as proof of ownership and provides details such as the vehicle's registration number, chassis number, and engine number.
KYC documents: To comply with Know Your Customer (KYC) regulations, you will need to submit valid identification documents. Accepted KYC documents typically include:
PAN Card: The Permanent Account Number (PAN) card issued by the Income Tax Department of India serves as valid identity proof.
Aadhaar Card: The Aadhaar card is also accepted for KYC purposes. It contains a unique identification number and biometric information.
Voter ID: The Voter ID card too is a valid identification document that serves as proof of identity and citizenship.
Passport-size photograph: Along with the documents mentioned above, you will be asked to provide a recent passport-size photograph. This photograph is used for identification purposes and is affixed to your FASTag application.
Ensure you have the original copies of these documents and their photocopies for submission during the application process.
What are the charges for the SBI Bank FASTag and IDFC Bank FASTag?
SBI Bank FASTag
Joining fee: ₹100 (inclusive of GST)
Replacement fee: ₹100 (inclusive of GST)
Security deposit:
Two-wheeler: ₹500
Light motor vehicle (LMV): ₹1,000
Medium and heavy motor vehicles: ₹2,000
Minimum balance: ₹100
IDFC Bank FASTag
Joining fee: ₹100 (inclusive of GST)
Replacement fee: ₹100 (inclusive of GST)
Security deposit:
Two-wheeler: ₹500
Light motor vehicle (LMV): ₹1,000
Medium and heavy motor vehicles: ₹2,000
Minimum balance: ₹100
How can I see the balance of my SBI Bank and IDFC Bank FASTag?
You can check the balance of your SBI Bank FASTag or IDFC Bank FASTag through the respective bank's mobile app or online portal.
The mobile app and online portal provide you with real-time information about your FASTag account balance, transaction history, and other details.
Conclusion
In conclusion, both SBI Bank FASTag and IDFC Bank FASTag offer convenient and efficient solutions for hassle-free toll payments. Whether you opt for SBI Bank or IDFC Bank, don't forget to download the Park+ app to seamlessly manage your FASTag account.
Stay updated with the latest information and explore other useful services on the Park+ website/app. Make your journey smoother and more enjoyable with Park+!