What is AU Small Finance Bank
Small Finance Banks are also like other banks, where you can make transactions of money but the only difference is that it is at a very small scale.
To understand it clearly, take an example, when you talk about a commercial bank, then you can make transactions of millions, but in a small finance bank, you can not make large transactions in millions.
It is clear from the name of Small Finance bank that, if you have to make small transactions and to deposit and withdraw small amounts of money then you can open an account in Small Finance bank. AU Small Finance bank is one such small bank which has gained popularity in very short term. With its headquarter located in Jaipur, Rajasthan, this bank was earlier established in 1996 as a bank to provide finance for vehicles. But on 19 April 1997 this bank was converted into a commercial bank which can provide finance and make transactions like any other commercial bank. As Fastag has been a topic of discussion in India for a long time, AU Small Financial bank is also in talks as it is also providing Fastag for vehicles now.
Now we directly go into the topic of what is Fastag and how we can get it from AU Small Finance bank.
What is Fastag?
Fastag is an electronic toll collection system. Which was first launched in India in 2014 and now gradually this system is being implemented on toll plazas all over the country. In India, this system is being introduced by the National Highway Authority of India (NHAI) to solve the problems arising from the toll collection system in toll plazas. Radiofrequency identification (RFID) is used in this system. Fastag has been made compulsory for all vehicles across India from January 15.
Fastag is a system that uses Radio Frequency Identification technology and is placed on the windscreen of your vehicle. As soon as your vehicle reaches the toll plaza after installing it, the sensor on the toll plaza scans the fastag on the windscreen of your vehicle, making it easy to charge the toll plaza from your fast tag account.By implementing this Fastag system, you can also pay a non-stop fee at the toll plaza. As soon as this tag in the vehicle gets activated from your prepaid account, then the toll fees will start deduction from your account.
Various benefits of Fastag:
- Fastag will make the toll payment process easier
- Payments can be made easily via FASTag
- Problems like paying toll cash can be avoided.
- Payments can be made non-stop at the toll plaza
- Lot of time will be saved with the use of Fastag.
Fastag can be easily recharged from bank debit card, credit card, NEFT, RTGS or online through UPI.
- When you recharge Fastag online, you will get cashback offers.
- Fastag will also be beneficial for the environment and will reduce the air pollution.
How to buy Fastag through AU Small Finance bank
You can easily buy and get Fastag sitting at your home by visiting the website of any bank like AU Small Finance bank. Here you will already get the menu of Fastag and when you will click it, you will see a window where you have to fill all the details that are requested. Fill in all the personal details and the details of your vehicle for which you want the Fastag. In addition to this you have to upload copies of your registration and driving license.
After submitting the online Fastag form through AU Small Finance bank, you will get your Fastag within 3-4 days through courier at the physical address you mentioned.
Below we can summarize the process of applying the Fastag through AU Small Finance bank:
- To open the Prepaid account of Fastag, first you have to visit the Fastag Application form section of the AU Small bank.
- A page will appear after this, you have you enter details like your name, address, Date of Birth, Email id, Mobile no. etc.
- Now you have to provide the details of KYC documents like driving license, PAN Card, Passport, Voter id or Aadhar card etc.
- Enter the vehicle Registration number i.e RC number after this.
- Now you will have to upload the scanned copy of required documents which includes KYC documents, RC and passport size photo of vehicle owner.
- Now submit the application form and your Fastag account is ready.
Documents required for buying Fastag through AU Small Finance bank
Some documents are essential when you purchase or register for Fastag. These documents are related to vehicle details and the vehicle owner related documents. This document should be KYC approved which are :
- Registration number (RC) of your vehicle
- Passport size photograph of the owner of the vehicle
- Kyc document of the owner of the vehicle as well as full proof address.
- The Fastag card is directly and indirectly linked to your bank account so that all types of payments are made directly to your bank, so while applying to the
- For Fastag card, you also have to submit bank account documents.
What is Fastag Fees at AU Small Finance bank:
As mentioned above you can easily get Fastag by filling an online Form through AU Small Finance bank and for this you have to pay a minimum joining fees of Rs. 200 which is non refundable.
Fastag Authorization Agencies, in this case AU Small Finance bank can charge different fees for different vehicles and sometimes a refundable security fee is also taken.
How to Recharge Fastag through AU Small Finance bank:
- First of all visit the official website of AU Small Finance bank i.e www.aubank.in
- Login to your Fastag account through your username and password
You will now be redirected to a new screen where you have to choose the option of Tag Recharge.
- Enter the amount on this page, you want to recharge your Fastag through AU Small Finance bank.
- You can choose one of many options for recharging like Credit card, Debit card, Internet banking, UPI Apps like Paytm, Google Play, etc.After entering the amount of recharge, click on Pay Now. You can recharge Fastag starting from Rs. 100 to Rs. 1 Lac.
- You are now done with your Fastag recharge through AU Small Finance bank.
What are other places where AU Small bank Fastag will be required?
The Government of India has introduced the FASTAG facility for all four wheel vehicles. And now it is mandatory for all vehicles to be fastagged. Strict orders have also been issued on this rule to be applicable from January 15 across the country. The government has decided that now cash collection wil1 be stopped on all toll points and now toll tax will be paid only through Fastag. Apart from this, let me tell you that Fastag will not only be used to pay toll tax but it will also be necessary for the following tasks
- Transport fitness certificates will be renewed for those vehicles which will have Fastag.
- Fastag will also be necessary for third party insurance from the coming April.
Fastag is also necessary for national permit vehicles, which has been made mandatory since October 2019.
- Those who do not have fastag will also not be able to get third party insurance.
What is Validity of AU Small Finance Bank
AU Small Bank Fastag will have a validity of 5 years, that is, after five years you will have to install a new fastag on your car.
AU Small Finance Bank Fastag Customer Care:
As soon as you cross a toll plaza with a fastag vehicle, the balance will be deducted from your fastag account, whose information will be received by SMS. You will know from that SMS, how much amount has been deducted from your account. For more details or for any other queries related to AU Small Finance Bank Fastag, call AU Small Finance Bank’s customer service toll-free number: 1800 258 7300.