Canara Bank FASTag: Fee, Online Recharge, and How to Buy

Published on 26 Jul, 2024, 9:45 AM IST

Updated on 30 Jul, 2024, 5:06 AM IST

Team Acko Drive

7 min read

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Presently, as per the instruction of the Indian Government, all four-wheelers and heavy vehicles must have FASTag. From hassle-free transactions to saving time, it is a technology with many advantages. The story of FASTag is one of the most important chapters of Digital India.

One of the banks from which you can get your FASTag is the Canara Bank. In this blog, we will cover the steps for getting Canara Bank FASTag, how it works, and the steps for recharging it.

Contents

What is Canara Bank FASTag?

FASTag is a device which is attached to the windscreen of a vehicle. The Indian Highways Management Company Limited (IHMCL) runs the FASTag system. The National Payments Corporation of India is a promoter of the IHMCL.

Canara Bank issues FASTags for facilitating cashless transactions at toll plazas. Radio Frequency Identification (RFID) technology is used to convey all the information related to the vehicle and the car owner at the toll plaza. Once the details are confirmed, the account linked to the FASTag is debited with a toll fee. Moreover, FASTag is legally compulsory for all car owners and heavy vehicles. It is a key criterion for getting third-party vehicle insurance.

How Does Canara Bank FASTag Work?

When a vehicle enters a FASTag lane in a plaza, the toll plaza system scans the FASTag Canara Bank for information like vehicle class, tag ID, weight and image of the vehicle, and sends it to the acquiring bank for processing. The acquiring bank sends this information to the NETC Mapper for verification.

The NETC Mapper verifies the Tag ID. Upon verification, the NETC Mapper sends information like vehicle class, VRN, tag status etc. In case the tag ID is not present in the NETC Mapper, it will respond by saying that it is not registered in the database.

After receiving the necessary information from the NETC Mapper, the acquired bank calculates the toll fare and sends a debit request to the NETC system. The NETC system sends the debit request to the customer’s bank. The customer’s bank will debit the account and inform the NETC system about the transaction.

The NETC system will inform the acquirer bank about the transaction, and the acquiring bank will convey the information to the toll plaza system. With this, the process is complete and the vehicle can pass through.

What Are the Key Benefits of FASTag?

FASTags have made paying the toll fee and crossing the plaza highly convenient. Here are some of the key benefits of FASTag:

Simple and Efficient System

The FASTag is a highly transparent mechanism where the details of every transaction are recorded securely. It is straightforward to track transactions in case of any issues.

Nationwide Usability

A FASTag can be used nationwide without any hassles. It is an interoperable technology which can be used pan-India.

No Need for Cash

You don't need cash to pay toll fees anymore. FASTag is an entirely digital mechanism. If your FASTag has sufficient balance, you don't need to worry about carrying cash.

Lower Fuel Wastage

Before FASTag, vehicles had to stand in long queues waiting for their turn to pay the fees. Due to the slow progression, the engines were kept turned on, resulting in fuel wastage.

Reduce Wastage of Time

FASTag ensures quick movement of vehicles across toll plazas. It reduces congestion and saves time by letting vehicles go through the plaza in a short time.

How to Get Canara Bank FASTag?

Follow these steps to get a Canara Bank FASTag online:

Step 1: Visit the online portal of Canara Bank to apply for a FASTag.

Step 2: Enter your mobile number, account number, and captcha code, and click on the checkbox to agree with the 'Terms and Conditions'.

Step 3: Click on ‘Proceed’.

Step 4: Enter relevant information about your vehicle and upload documents such as your photo and application form.

Step 5: Pay the fees for FASTag.

Once Canara Bank approves your application, it will send the FASTag to your address.

Which Documents Are Required to Get Canara Bank FASTag?

To be eligible for a Canara Bank FASTag, you must have a CASA account with full KYC compliance. You have to submit these documents for a Canara Bank FASTag:

Copy of your vehicle’s registration certificate
Colour photograph of your vehicle
Aadhaar card
Copy of PAN card
FASTag application form

How to Recharge Canara Bank FASTag Online?

There are several ways to recharge Canara Bank FASTag online. Here are some methods you can use:

1. UPI

Here is how UPI is used to recharge a Canara Bank FASTag:

Step 1: Open your UPI application.

Step 2: Choose the option for UPI payment.

Step 3: The UPI ID to which you will send the payment is in the format “netc.your vehicle number@your issuing bank handle”.

Step 4: Enter the amount you want to recharge.

Step 5: Enter your UPI PIN

The instant Canara Bank FASTag recharge online will be complete.

You can find the UPI handle of your bank from the NPCI’s illustration using the BHIM app.

2. Bank Portal

To recharge Canara Bank FASTag using the net banking portal, follow these steps:

Step 1: Log in to Canara Bank’s net banking portal.

Step 2: Visit the page for FASTag recharge.

Step 3: Click on the recharge option.

Step 4: Enter the amount you want to recharge.

Step 5: Choose between payment options to finish your transaction.

3. My FASTag App

Here is how you can recharge Canara Bank FASTag with My FASTag App:

Step 1: Download the My FASTag App from Google Play or the App Store.

Step 2: Go to “Bank Specific FASTag (FASTag issued by banks)” and tap on “Recharge via UPI”.

Step 3: Choose your bank name and enter your vehicle number.

Step 4: Validate VPA ID in the format “netc.vehicle number@bank’s UPI handle” and continue with a UPI app you use for transactions.

How to Recharge Canara Bank FASTag Offline?

You can recharge Canara Bank FASTag offline very easily. Just follow these steps to do so:

Step 1: Approach a point of sale at a toll plaza.

Step 2: Pay your recharge amount in cash.

Step 3: An official at the toll plaza will verify your details and complete your recharge.

You will be notified by SMS about your recharge.

Fee and Charges for Canara Bank FASTag

Canara Bank charges Rs. 100 for issuing and re-issuing a FASTag. A FASTag is valid for 5 years after it is issued.

One-Time Security Deposit and Threshold Amount for Different Categories of Vehicles

You have to pay a one-time security deposit while buying a FASTag from Canara Bank. You also have to maintain a threshold amount at all times. Here is how much has to be paid according to the type of vehicle you have:

Type of Vehicle	Security Deposit	Threshold Amount
Car/Jeep/Van/Tata Ace and similar Light Commercial Vehicle	200	100
Light Commercial Vehicle – 2 Axle	300	140
Bus – 3 Axle	400	300
Truck – 3 Axle	500	300
Bus 2 Axle / Mini Bus, Truck 2 Axle	400	300
Tractor / Tractor with trailer, Truck,4,5&6 axle	500	300
Truck 7 Axle and above	500	300
Earth Moving/ Heavy Construction Machinery	500	300

Bottom Line

FASTag is a revolutionary technology which has made paying toll fees highly convenient. It has eliminated the hassle of carrying cash and waiting in long queues at toll plazas. It is a highly efficient nationwide system which reduces fuel wastage and time taken to cross a toll plaza.

You can simply visit Canara Bank’s website to get a Canara Bank FASTag. It will be valid for 5 years from the date of purchase. You can easily recharge it whenever required by using a UPI app or visiting a toll plaza. Overall, it is an excellent technology which ensures smooth movement across a toll plaza.

Frequently Asked Questions

Here are some questions which are commonly asked about Canara Bank FASTag and their answers:

How long is a FASTag valid?

A FASTag is valid for 5 years from the date it is issued. You can recharge it as per your needs.

Where can I purchase FASTag?

You can buy a FASTag by visiting a point of sale at a National Highway toll plaza or by visiting Canara Bank’s website or any of the member banks of the NETC system.

Which documents have to be submitted to get a FASTag?

You have to submit a registration certificate of your vehicle, a passport-size photo of your vehicle owner, and KYC documents such as a PAN card.

What are the advantages of FASTag?

Saving time and fuel, reducing reliance on cash, and making toll payments transparent are some key advantages of FASTag.

What are the fees for a Canara Bank FASTag?

You have to pay Rs. 100 for buying a Canara Bank FASTag. In addition to that, you have to pay a security deposit as per your type of vehicle. For a car, a security deposit of Rs. 200 is applicable.

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