Fastag Fees: Details for Issuers – SBI, HDFC Bank, ICICI Bank, Airtel Payments Bank and more | india business news
According to ET, the FASTag user has to pay a fee including one-time issuance fee, re-issue fee and security deposit.
According to the HDFC Bank website, the charges for FASTag activation are nominal. However, there are three types of FASTag charges:
tag joining fee , This is a one-time fee that is levied only when you register as a FASTag user. This initializes and activates the tag for your vehicle.- security deposit: A small amount is taken as security deposit, which is fully refunded on account closure if there is no outstanding. The amount varies depending on your vehicle class. If there are insufficient funds in your tag account, the security deposit can be used by the banks to cover the outstanding toll charges.
- threshold amount: This is the minimum recharge amount required at the time of tag activation. The entire limit amount is available in your Tag account for payment of toll charges immediately after activation. The limit amount depends on the vehicle class.
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Comparison of charges by top issuers
Here is a list of leading people fastag issuer And the fees associated with them, based on information on the website as of February 24. The security deposit amount mentioned is for cars, jeeps and similar vehicles.
HDFC bank
The current HDFC fee is Rs 100, which includes applicable taxes. The security deposit for cars, jeeps, vans, Tata Ace and similar mini-light commercial vehicles is Rs 100.
ICICI Bank
The bank charges Rs 99.12 including GST as joining fee. The security deposit for cars, jeeps and vans is Rs 200, and the limit amount is also Rs 200.
State Bank of India
State Bank of India does not charge any tag fee or security deposit for cars, jeeps, vans, Tata Aces and other compact light commercial vehicles. However, it is important to note that a minimum balance of Rs 200 is required for FASTag activation.
axis Bank
Axis Bank does not charge any ongoing fee for FASTag. For re-issue, the bank charges Rs 100 including all taxes. Additionally, the bank charges a security deposit of Rs 200 for vehicles like cars, jeeps and vans.
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Bank of Baroda
The one-time fee for Baroda Fastag is Rs 150 plus Goods and Services Tax (GST). Refundable security deposit amounts vary depending on the type of vehicle. For cars, jeeps and vans, a security deposit of Rs 200 is taken with a limit of Rs 200.
Canara Bank
Canara Bank charges Rs 100 for both issuance and re-issue. Additionally, there is an actual cost for reloading the tag online and a convenience fee of Rs 10.00. For vehicles like cars, jeeps and vans, the security deposit amount is Rs 200, and the limit amount is Rs 100.
IDBI Bank
IDBI Bank charges a re-issue fee of Rs 100 including taxes. The bank also charges a tag deposit fee of Rs 200, and there is no limit amount requirement.
Kotak Mahindra Bank
The bank charges Rs 100 as tag joining fee and Rs 200 as tag deposit for VC4. There is no fee for reissue, and no limit amount applies.
IndusInd Bank
IndusInd Bank takes a security deposit of Rs 200 and credits a limit amount of Rs 200 in the customer’s wallet. They also charge a one-time tag joining fee of Rs 100 and a re-issue fee of Rs 100.
pnb
For vehicles like cars, jeeps and vans, a security deposit of Rs 200 is taken, and the limit amount is Rs 100. Replacement fee of Rs 100 will be applicable.
Airtel Payments Bank
There is a one-time fee of Rs 100 including GST on FASTag. TAG joining fee, which is a one-time fee, is Rs 99.99 including all applicable taxes. Similarly, the one-time tag re-issue fee is Rs 99.99 including all applicable taxes. Refundable security deposit amounts vary depending on the type of vehicle. One time security deposit for car, jeep and van is Rs 150.
Paytm
Paytm charges Rs 100 for tag issuance fee (one-time), which includes Rs 84.75 for duty and Rs 15.25 for GST. Additionally, they charge Rs 100 (including GST) for tag re-issue fee. Paytm also charges Rs 250 as FASTag security balance.