Why is FASTag taking security deposit?
Table of Contents
- 1 Why is FASTag taking security deposit?
- 2 How do I get my security deposit back from FASTag?
- 3 How can I get my security deposit back from Paytm FASTag?
- 4 What is FASTag security balance?
- 5 How much is security deposit for FASTag?
- 6 Can I use FASTag of another car?
- 7 What is security deposit in FASTag Paytm?
- 8 What happens if FASTag has no balance?
- 9 What is a FASTag and how does it work?
- 10 How to use fastfastag for toll payments?
Why is FASTag taking security deposit?
After crossing the toll plaza, if the account balance becomes negative, the bank can recover the amount from the security deposit, which should be replenished at the time of the next recharge by the user, it added. With more than 2.54 crore users, FASTag contributes 80 per cent of the total toll collection.
How do I get my security deposit back from FASTag?
2. One-time Security Deposit: A one-time security amount of Rs. 250 needs to be deposited at the time of FASTag purchase. The amount will be refunded at the time of closing your FASTag account.
Is FASTag security deposit refundable?
All FASTags come with unlimited validity. A refundable security deposit, depending on vehicle type, will be charged and will be refunded on the closure of FASTag account. One-time charge of Rs 100 deducted is imposed for FASTag account activation.
How can I get my security deposit back from Paytm FASTag?
- Step – 1: Post purchase, fix the tag in middle of your vehicle’s front windshield.
- Step – 2: Make sure sufficient money is added to your Paytm Wallet.
- Step – 3: Enter dedicated FASTag lane at NHAI Toll Plaza.
What is FASTag security balance?
After crossing the toll plaza, if the account balance becomes negative, the bank can recover the amount from the security deposit, which should be replenished at the time of the user’s next recharge. With more than 2.54 crore users, FASTag contributes 80 per cent of the total toll collection.
How much is a FASTag security deposit?
Fees and Charges for Buying a FASTag
| Video Category | Type of vehicle | Security Deposit (Refundable) |
|---|---|---|
| Vehicle Class 12 | Tractor/Tractor with trailer | Rs. 99 |
| Truck 4-axle | Rs. 99 | |
| Truck 5-axle | Rs. 99 | |
| Vehicle Class 15 | Truck 7-axle & above | Rs. 99 |
How much is security deposit for FASTag?
100, out of which Rs. 99 is a refundable deposit and Re. 1 is the FASTag wallet balance.
Can I use FASTag of another car?
Please understand that FASTag cannot be transferred to the other party. If you are not going to use the registered vehicle anymore, please ensure the FASTag that you used for the vehicle is closed. If you wish to stop using FASTag, call us on 1800-120-4210 to raise a closure request.
What is deposit amount in FASTag?
Tag Joining Fee – A one-time charge levied only the first time for registration as a FASTag User. The current fee is Rs. 100 including applicable taxes. 2. Security Deposit – A negligible amount is taken as a security deposit which is fully refundable against no dues at the closure of the account.
What is security deposit in FASTag Paytm?
100, out of which Rs. 99 is a refundable deposit and Re. 1 is the FASTag wallet balance. For vehicles like cars and jeeps, there is no fee to be paid.
What happens if FASTag has no balance?
If FASTag is active then vehicles can cross toll booths even if the balance is zero. In case of zero balance, the money will be deducted from the security deposit. The money will come back to the security deposit at the time of recharge.
What is NHAI’s FASTag security deposit scheme?
In the tag taken from NHAI, the Rs 150 security deposit, which the government is bearing as a promotion, comes back to the user as wallet value if the FASTag is linked to the NHAI e-wallet in the “My FASTag app” mobile app. So in this particular scheme, the user gets Rs 150 back without even paying it.
What is a FASTag and how does it work?
Once a vehicle crosses the toll, the owner will get an SMS alert on the deduction. In that it is like a prepaid e-wallet. A FASTag is valid for five years, and can be recharged as and when required. How can I buy it?
How to use fastfastag for toll payments?
FASTag can be used for toll payments only after 20 mins of adding money to the Paytm Wallet. Log in to your Paytm App. Click on the left top corner of your Paytm app.
What is Paytm FASTag and how does it work?
The Paytm FASTag is a simple & reusable tag that works on the radio-frequency identification technology (RFID). It needs to be affixed on the vehicle’s windscreen. Each tag is linked to a registered Paytm Payments Bank account to facilitate instant automatic deduction of toll charges.