Are you looking for a reliable, efficient way to pay tolls and breeze through the highways? SBI Bank FASTag and IHMCL Bank FASTag are two prominent options to consider. This article will compare these two popular FASTag services, shedding light on their features, benefits, and user experiences.
Whether you are a frequent traveller or an occasional road user, understanding the differences between these two offerings will help you make an informed decision. So let's dive in and find out which FASTag solution suits your needs better.
SBI Bank FASTag and IHMCL Bank FASTag both use Radio Frequency Identification (RFID) technology to facilitate electronic toll collection.
A small sticker with a unique RFID chip is affixed to the vehicle's windshield.
When you pass through a toll plaza, the RFID reader at the plaza scans the tag and deducts the applicable toll amount from your FASTag account.
Here are the advantages of using SBI Bank FASTag and IHMCL Bank 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 in accordance with 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 IHMCL Bank FASTag:
Registration Certificate (RC) of the vehicle.
KYC documents such as PAN Card, Aadhaar Card, or Voter ID.
Passport-size photograph.
You can recharge your SBI Bank FASTag or IHMCL Bank FASTag account using Park+ mobile app. Park+ provides a convenient and hassle-free way to recharge your FASTag account.
Simply download the Park+ app.
Register your vehicle details
Choose the FASTag recharge option
You can recharge using various payment methods such as debit cards, credit cards, net banking, and UPI.
The charges for SBI Bank FASTag and IHMCL Bank FASTag are as follows:
SBI Bank FASTag
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. 500
Minimum Balance: Rs. 100
Recharge Limit: No limit
Refund of Security Deposit: The security deposit will be refunded within 7 working days of the closure of the FASTag account.
IHMCL Bank FASTag
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. 500
Minimum Balance: Rs. 100
Recharge Limit: No limit
Refund of Security Deposit: The security deposit will be refunded within 7 working days of the closure of the FASTag account.
Your FASTag can get blacklisted due to various reasons, such as insufficient balance, violation of FASTag rules, or misuse of the tag.
It is important to ensure that you maintain sufficient balance in your FASTag account and adhere to the rules and regulations of FASTag usage to avoid blacklisting.
You can check the balance of your SBI Bank FASTag or IHMCL Bank FASTag through the respective bank's website or mobile app.
Simply 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.
In conclusion, both SBI Bank FASTag and IHMCL Bank FASTag offer convenient solutions for seamless toll payments and hassle-free travel experiences.
To make your choice easier, we urge you to download the Park+ app, where you can find detailed information about FASTag and explore other useful services for car owners. Make the most of your journeys with Park+ and enjoy the benefits of a smoother, more efficient travel experience.