Saraswat Bank FASTag

What are the benefits of FASTag?

FASTag was introduced with the objective of implementing smooth and hassle-free journeys on national highways. As your vehicle approaches the toll gates, the RFID chip is read by the tag reader and the corresponding toll charges are automatically deducted from the tag wallet. This saves enormous time and cost for the users as well as the government. FASTag is presently operational at 408 toll plazas across national and state highways. More toll plazas will be brought under the FASTag program in the future.

• Saves time and fuel: FASTags enable you to zip through toll gates without having to wait to make transactions. This saves an enormous amount of time and money.
• Avoid long queues at the Toll Plaza: When your vehicle approaches the toll plaza, the tag reader installed in the toll gates reads your FASTag and automatically deducts the corresponding toll charges from your tag wallet. This greatly reduces the waiting time in every toll plaza.
• Forget carrying cash for toll payments: The toll amount is directly deducted from your wallet account, removing the need for carrying cash for toll transactions.
• One tag for country wide use: FASTag is presently operational at 400+ toll plazas across national highways. The system is inter-operable and the same FASTag can be used across all toll plazas under the National Electronic Toll Collection (NETC) program. Planning is underway to include more toll plazas under the ambit of FASTag.
• SMS alerts for each toll transaction: Users get instant SMS notification for every toll plaza transaction carried out on their tag account. This enables the user to keep a tab on their account balance.
• Easy recharge options: Users can conveniently recharge their tag account online or at any of the POS points at toll plazas. They can use a credit card, debit card, Netbanking or UPI apps to recharge their account.
• Online portal for tag holders: FASTag users can create an account on the online portal to manage their tag account without any hassles. They can check various things like tag balance, transactions and account information on this online portal.

How to buy Saraswat Bank FASTag?

Applicants can visit their nearest branch of Saraswat bank to register for a FASTag. They need to submit a copy of the Vehicle Registration Certificate (RC Book) and a passport size photo to the branch to get their FASTag. The bank requires that the applicant have a savings account with the Bank so that the account can be linked to the FASTag. If the applicant does not have a savings bank account with the bank, they can open one instantly at the branch with minimal documentation.

What are the documents needed to apply for a FASTag from Saraswat Bank?

The following documents have to be submitted along with the application for FASTag:

• Registration Certificate (RC) of the vehicle.
• Passport size photograph of the vehicle owner.
• KYC documents as per the category of the vehicle owner, for opening a bank account to be linked with the Tag:

Individuals

ID proof and Address proof from the list mentioned, and 1 passport size photograph

• Driving License
• PAN Card
• Passport
• Voter ID Card
• Aadhaar Card (with Address)

Corporates/Public Ltd./ Private Ltd./ Partnership

• Certificate of Incorporation/ Partnership Deed/Registration certificate of the firm
• PAN Card of the corporate
• Photo ID of signing authority
• List of Directors with addresses/Name and addresses of Partners
• Board Resolution (only for Public / Pvt. Ltd.
  Companies)

Proprietorship

• PAN Card of Proprietor
• Address Proof of the Proprietor
• Shop Act or other Firm Proof
• Any other document if asked by the Bank

Please note: 

• The duly filled in application form has to be submitted along with the documents.
• All required documents for FASTag should be in the name of the owner of the vehicle.
• A valid driving license would be sufficient for Address & ID proof.

Fees & Charges associated with Saraswat Bank FASTag

• For a tag issuance, FASTag has a one-time fee excluding taxes. A refundable safety deposit must also be maintained with the Bank, depending on the type of vehicle.
• The customer must open a current account to route all toll transactions. The account will not be issued with a cheque book or debit card. Facilities are provided for internet banking though. Credit to the account is allowed by cash deposit/ check deposit, NEFT/ RTGS/ IMPS, etc.
• The current account should have a minimum balance of Rs. 6000/- and the minimum threshold is Rs. 1500/-for savings account. If the account balance is below the threshold, the status for all tags linked to it will be changed as low balance, and the customer will have to pay the total amount in cash for all tags.
• Once the balance in the account is restored above the threshold limit, the auto-debit facility for all tags will be automatically restored.

Following are the tag charges (Tag issuance charges and Security Deposit)

About Saraswat Bank FASTag

Saraswat Bank is one of the designate member banks under the National Electronic Toll Collection (NETC) program managed by NPCI (National Payments Corporation of India), as per guidelines from NHAI (National Highways Authority of India) and IHMCL (India Highway Management Company Limited). It is authorized to issue FASTags to its customers and general applicants.

FASTag is an electronic toll collection system in India, operated by the National Highway Authority of India (NHAI). It employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid wallet linked to the FASTag. The tag should be affixed on the windscreen of the vehicle and enables the vehicle to zip through toll plazas without stopping for cash transactions. The tag can be purchased from official POS points at any of the toll plazas or through participating Banks.

Saraswat Bank FASTag FAQs: