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.
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.
- 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.
- 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.
- 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.