You can apply for a FASTag from IHMCL or the Indian Highways Management Corporation Limited. The FASTags provided by IHMCL are ‘bank-neutral’ tags, meaning, they can be linked to any bank or financial institution without the need to complete additional KYC checks.
The difference between IHMCL FASTags and the ones provided by banks is that banks provide customised FASTags, registration process and recharge methods. Also, the tags will only be available at its branches, sales channel partners, and DSAs (direct sales agents). Whereas IHMCL FASTags are not linked to any particular bank, they are neutral tags that you can link to your preferred bank after purchase for future recharges.
Convenience of IHMCL FASTags
Using a FASTag issued by IMHCL is extremely simple. You can either download the MyFASTag app?or IHMCLPOS app from the Play Store or App Store to link your preferred bank account to your FASTag wallet. You can recharge your wallet through any UPI platform. You can use any bank account or wallet to recharge your FASTag wallet through UPI.
Purchasing IHMCL FASTags:
Only selected banks from the list of certified banks currently issue IHMCL FASTags. They are also available at selected petrol pumps including:
- Bharat Petroleum Corporation Limited (BPCL)
- Indian Oil Corporation (IOCL)
- Hindustan Petroleum Corporation Limited (HPCL)
Alternatively, you can also purchase it from Common Service Centers (CSC's).
FASTag KYC Process:
You can only procure a FASTag after completing a KYC (know your customer) check. Here you have two options – minimum KYC process and full KYC process.
The difference is in the number of documents to be submitted, and subsequently the maximum recharge amount. Upon completing the minimum KYC check, you can recharge your FASTag for a maximum amount of Rs.10,000 at any given time. Upon completing the full KYC check, you can recharge for a maximum amount of Rs.1 lakh at any given time.
Documents required for minimum KYC process:
- Vehicle’s RC (Registration Certificate).
- Insurance copy (optional).
- ID and address proof of the vehicle owner – PAN card, Aadhaar card, Passport, Driver’s License, Voter ID card, etc.
- Verification through your registered mobile number and a One Time Password (OTP).
Most banks will not ask for a filled form with your signature.
Documents required for full KYC process:
You will have to submit the mandatory documents requested in the previous section, along with:
- A FASTag application form filled and signed by you.
- A full KYC form filled and signed by you along with your photograph.
The verification process may take up to 3 days.
FASTags are now operational at more than 180 National and State Highway Toll Plazas.