In compliance with directives from the Reserve Bank of India (RBI), the National Highway Authority of India (NHAI) has removed Paytm from its list of approved FASTag providers. Although the RBI extended the deadline for Paytm Payments Bank from February 29 to March 15, it has clarified in its FAQ that FASTag are not transferable between providers. Customers are encouraged to close their FASTag accounts issued by PPBL (Paytm Payments Bank Limited) and request a refund. They will then need to acquire a new FASTag from another bank.
Here are 5 alternatives of Paytm FASTag:
Park+ FASTag
Park+ has partnered with IDFC Bank to launch India’s first all-in-one cheapest FASTag. Park+ FASTag is a single RFID tag for multiple needs and helps you de-clutter your car windshield. Park+ FASTag helps you with no stopping drive-thru at NHAI Toll plazas, IOCL petrol pumps, society & corporate gates, and select parking lots across the country. Using Park+ you can buy and recharge FASTag online.
This FASTag offers unparalleled affordability as they’ve eliminated unnecessary expenses to provide the cheapest option available in the market. Purchasing online ensures quick delivery, and it’s valid across NHAI tolls, select fuel pumps, parking lots, residential societies, and corporate gates. Moreover, you can use Park+ FASTag at designated parking locations nationwide, adding to its versatility and convenience.
HDFC Bank FASTag
HDFC Bank, a prominent financial institution in India, provides FASTag services, which can be availed either online through their website or offline by visiting HDFC Bank branches or designated point-of-sale locations. Additionally, you can purchase a FASTag from online retailers such as Amazon or Flipkart and link it to your HDFC Bank account.
Upon acquiring an HDFC Bank FASTag, it functions akin to a prepaid card. The funds loaded into the wallet are associated with your FASTag number. To use it, affix the tag number onto your vehicle’s windshield. Utilizing Radio Frequency Identification (RFID) technology, toll charges are automatically deducted from your FASTag wallet each time your vehicle passes through a toll booth, as the system captures the tag number.
Airtel Payments Bank FASTag
The Airtel Payments Bank FASTag offers a convenient and cost-effective solution for individuals with an active Airtel Payments Bank account or wallet. To apply for a FASTag, you must have an active Airtel Payments Bank Savings Account or Wallet. Additionally, Airtel Thanks Gold and Platinum customers can enjoy a cashback of Rs 150 upon purchasing the Airtel Payments Bank FASTag.
With a one-time fee of Rs 100 and a refundable security deposit of Rs 200, the Airtel Payments Bank FASTag ensures affordability. Recharges can be made with a minimum amount of Rs 150 and a maximum of Rs 1,00,000. Funds can be loaded into your linked Airtel Payments Bank account or wallet via internet banking, credit card, debit card, UPI from the Airtel Thanks app, or internet banking. Upon successful loading, a minimum balance will be reserved for the FASTag.
IDFC First Bank FASTag
The IDFC First Bank FASTag is a seamless electronic toll collection system designed for effortless payment of tolls, fuel, and parking fees. This reloadable tag is easily linked to either your IDFC First Bank account or credit card, providing convenience and flexibility. Application for the FASTag can be completed online or offline, and recharging can be done through multiple payment methods. With a standard one-time joining fee of Rs 100, it requires a minimum balance of Rs 200 and does not entail any security deposit.
NHAI FASTag directly from NHAI
The NHAI FASTag is a bank-independent version of FASTag, meaning it is not initially linked to any specific bank when purchased by a customer. It can be acquired from designated Point-of-Sale locations such as toll plazas, petrol pumps, online platforms, including the My FASTag app, as well as through retailers like Amazon or Flipkart. Users have the flexibility to link it to any existing bank account via the My FASTag App and can recharge it using various methods such as UPI, net banking, and debit/credit cards. When linking the tag with an existing bank account, customers are required to maintain a threshold limit for processing debit adjustments, with the threshold amount varying depending on the bank.
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