Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,921.50-96.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

How to buy FASTag and recharge via Kotak Mahindra Bank; no issuance fee till Dec 15

Kotak Mahindra Bank has announced that till December 1, it has waived off issuance charges. This offer is available for both Kotak customers and non-customers who avail of Kotak FASTag.

ET Online|
Updated: Dec 02, 2019, 03.45 PM IST
0Comments
BCCL
highway-bccl
With the deadline for vehicle owners to get a FASTag just a few weeks away (December 15), many banks and e-commerce companies are trying to cash in on this. They are doing this by offering discounts, waiving off charges and so on. Among them, Kotak Mahindra Bank has said that it has waived off issuance charges till December 15. A press release by the bank stated that this offer is available to both Kotak customers and non-customers who avail of Kotak FASTag.

As an added incentive, the National Highways Authority of India (NHAI) is offering FASTag users monthly cashback of 2.5 percent on toll transactions till March 31, 2020.

  1. How to apply for and recharge Kotak FASTag
    You can apply online for Kotak FASTag at www.kotak.com/fastag. Existing Kotak customers can also apply for the tag through the Kotak mobile banking app. Commuters can recharge their FASTag account online through credit card, debit card or Net banking, the press release stated.
  2. What is FASTag?
    FASTags are prepaid rechargeable tags for toll collection that allow automatic payment deduction from the FASTag, they are normally affixed on the windscreen of your vehicle. With the help of a FASTag, you will not have to stop your vehicle at toll plazas to pay the toll. As soon as the vehicle crosses the toll plaza, the toll fee will get deducted from the bank account/prepaid wallet linked to the FASTag affixed on the vehicle's windscreen. An activated FASTtag works on Radio Frequency Identification (RFID) technology. Moreover, these FASTags do not have any expiry date, that is, they can be used as long as they are readable at the toll plaza and are not tampered.
  3. How to buy and activate your FASTag
    FASTags are issued by 22 certified banks through various channels such as Point-of-Sale (POS) at National Highway toll plazas and select bank branches. They are also available on e-commerce platform such as Amazon.
How to buy FASTag, recharge it online and offline from HDFC Bank

Also Read

Deadline for FASTag deferred

Free FASTags for faster switch

Government extends deadline for mandatory FASTags to December 15

Soon, service provider to sell FASTags online

Over 70 lakh FASTags issued so far

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service