Does FASTag Balance Expire? What is the Minimum Balance for FASTag?

 
FASTAG

FASTag, the electronic toll collection system operated by the National Highways Authority of India (NHAI), became mandatory for new and current vehicles to have this tag from February 15, 2021. The purpose of introducing this particular system was to ensure the seamless movement of vehicles while passing through electronic toll plazas.

Additionally, with the Central Government’s recent decision regarding the minimum balance in FASTag, the ongoing issues have been mitigated. Read on to have a detailed understanding of a few fundamental queries related to this system.

Does a FASTag balance expire?

No, the balance in this online wallet does not expire. However, a FASTag remains active for 5 years and requires renewal after that. In this 5-year period, any unused balance will remain in the wallet.

How is FASTag beneficial for vehicle owners?

In order to save your time and facilitate electronic toll collection across India, this particular electronic toll collection system came into effect. Developed by the NPCI or National Payments Corporation of India, FASTag consists of an RFID (radio-frequency identification) code that is connected with each vehicle's registration details.

Since this barcode comprises all the necessary information, when a car passes through toll plazas across the country, collection of payments will be done automatically. As a vehicle owner, you will not have to stop your car to pay the toll amount anymore; it will be deducted automatically from the pre-paid balance of FASTag.

Here is a list of advantages this particular system comes with:

  • The easy recharge system allows vehicle owners to make the process more seamless and save their time. They can easily reserve a specific amount from where the toll amount will be deducted every time they cross a toll booth.
  • The procedure involves a cashless transaction, making it even easier for vehicle owners when they run out of cash.
  • The process has brought transparency in the system and reduced hassles while dealing with authorities running toll plazas because of not having the exact toll amount.

Earlier, the cash collection process at toll plazas was a time-consuming affair, and vehicles owners used to end up wasting fuel by simply sitting there for hours. Apart from time, individuals can save their fuel due to this fast and convenient process.

Information about the FASTag minimum balance

In order to avoid unnecessary delays and ensure a faster process, the National Highways Authority of India decided to eliminate the mandatory FASTag threshold amount in its account. This means it is not necessary for vehicle owners to have a minimum FASTag balance[1]  when they pass through toll plazas. In case the balance runs out, the necessary money will be deducted from the security deposit they made in the beginning.

Now with that FASTag sticker attached to your car’s windshield, you can easily drive across national highways and enjoy road trips. However, make sure you got your car insured or renew the current policy before going for such long drives so that you can avoid financial and legal implications.

In this regard, there are several online platforms that have the best motor insurance policies available for vehicle owners. These policies extend not only financial coverage from any unfortunate incident but also 24X7 roadside assistance, cashless service in network garages, and more.

How to activate FASTag?

There are two procedures for this, such as:

  1. Self-activation
  2. Visiting certified branches of financial institutions

For the first procedure, you can do it on your own by purchasing it online and then self-activate the tag. The ‘My FASTag’ app is available for car owners to open a new account and avail the NHAI [2] facility through that.

The second procedure will require the vehicle owner to visit any nearest certified financial institution and avail FASTag. They will have to submit KYC documents along with the vehicle registration certificate for this purpose.

The seamless process of FASTag has reduced the hassles car owners had to face at toll plazas. Remember, in case you have two or more vehicles; you must have separate FASTags for each of them.  There are already enough car problems  to deal with, it is great how we can eliminate the constant inconvienience of toll plazas.

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