You can get a FASTag from Kotak Mahindra Bank by applying online on its official website. FASTag enables you to cross toll plazas without having to make cash transactions. A cashback of 2.5% can be availed on all toll payments using FASTag in the financial year 2019-20.
What is FASTag?
FASTag is a device that works on the radio frequency identification (RFID tag) technology and will let you pass through the toll plazas without having to stop to make cash payments. The FASTag needs to be affixed on your vehicle’s screen and whenever you pass the toll gate, the payment for the same will be automatically deducted from the account linked to the FASTag.
How to Get FASTag From Kotak Mahindra Bank?
As stated earlier, you can apply for a FASTag online on the official website of Kotak Mahindra Bank. To apply for a FASTag, please follow the below-given steps:
- Visit the link - https://www.kotak.com/en/personal-banking/cards/prepaid-card/fastag.html
- Click on the ‘Apply Now’ button followed by the ‘Proceed’ button.
- You will be redirected do a page which will ask you if you have a bank account with Kotak.
- If you do not, you can click on the ‘No’ option, enter your mobile number, and captcha and then click on the ‘Generate OTP’ button to proceed.
- Enter the OTP received, fill up the information requested, and click on the ‘Validate PAN’ button.
- Once the registration is complete, you can follow the further instructions to apply for a FASTag.
- You will receive the FASTag within 10-15 working days.
Fees & Charges for Buying FASTag From Kotak Mahindra Bank:
To get a FASTag from Kotak Mahindra Bank, you will need to pay a one-time joining fee of Rs.100 plus GST and a tag deposit fee which will vary with vehicle class. You will also be required to maintain a threshold amount which is the minimum recharge amount that you will need to do while getting your FASTag activated. The tag deposit amount and threshold amount for Kotak FASTag has been given below:
|Vehicle Clas||Description||Threshold Amount||Tag Colour||Tag Deposit|
|4||Tata Ace and similar mini light commercial vehicle||Rs.100||Violet||Rs.200|
|5||Minibus/light commercial vehicle||Rs.140||Orange||Rs.300|
|6||Bus 3 Axle||Rs.300||Yellow||Rs.400|
|6||Truck 3 Axle||Rs.300||Yellow||Rs.500|
|7||Truck 2 Axle/Bus 2 Axle||Rs.300||Green||Rs.400|
|12||Truck 4,5,6 Axle/Tractor/Tractor with trailer||Rs.300||Pink||Rs.500|
|15||Truck 7 Axle and above||Rs.300||Blue||Rs.500|
|16||Earth Moving/Heavy Construction Machinery||Rs.300||Black||Rs.500|
Documents Required to Apply for FASTag From Kotak Mahindra Bank:
When applying for a FASTag from Kotak Mahindra Bank, you will have to furnish the below-given documents along with the application form:
- Passport size photo of the vehicle owner
- Vehicle’s Registration Certificate (RC)
- Know-Your-Customer (KYC) documents according to if the vehicle owner is an individual or corporate
Individuals should also submit the below-mentioned documents along with the KYC documents:
- Valid driving license (DL)
- PAN card
Corporates will need to submit the below-given documents to get a FASTag:
- Any firm proof or photo ID of signing authority Shop Act
- PAN card of the corporate address proof of the proprietor/partnership/public or private limited companies
- Partnership Deed/Certificate of Incorporation/Registration Certificate of the firm
- List of Directors with name and addresses of partners
Benefits of Kotak FASTag
- You do not have to wait in long queues to make cash payments at the toll plazas which will save you time as well as fuel.
- You can avail a cashback of Rs.2.5% on all national toll payments using FASTag for the 2019-20 financial year.
- Recharging of the FASTag is easy and can be done online through Netbanking/credit or debit card/NEFT/RTGS.
- Tracking your toll payments is easy because every time you do a transaction using FASTag, you will receive an SMS notification. You can also check Fastag balance online on the website of Kotak Mahindra Bank.
FAQs on Kotak FASTag:
- What is the validity of FASTag?
Once activated, FASTag is valid for 5 years and you can top up or recharge your FASTag account according to your requirement.
- Do I need to buy two FASTags if I have two vehicles?
Yes. You need to buy two separate FASTags for each vehicle that you own.
- How do I recharge my FASTag account?
You can recharge your FASTag on the website of Kotak Mahindra Bank by logging in to the customer portal and pay by using credit card/debit card/Netbanking.
- I lost my FASTag. What do I do now?
The first thing you should do if you lose your FASTag is to get in touch with the customer care number of the bank at 1800 419 6606 and block your card. Once you do that, you can get a new FASTag issued.
- Who do I get in touch with if I have any queries on the FASTag availed from Kotak Mahindra Bank?
If you have any queries or issues with the FASTag availed from Kotak Mahindra Bank, you can call the customer care number of the bank at 1800 419 6606.