Whatis the concept of FASTag? What is the expiry period of the FASTag?

FASTag is an NHAI-operated electronic system for toll collection. The system of FASTag is based on the RFID (Radio Frequency Identification Device) technology and is fixed on the vehicle’s windscreen. In simple words, FASTag’s are the tags that have to be recharged by paying in advance for the future toll collection. Starting January 1, 2021, all toll lanes will be dedicated FASTag lanes, and so not having a FASTag will require you to pay a penalty of twice the toll charges.

Moreover, these Tags have a never-endingvalidity period. They can be used until they are not tinkered and are in readablecondition for the machines installed at the toll plaza.

What is the working mechanism of FASTag?

Vehicles with activated FASTag need not do anypayment at the toll gates as the toll charges will be deducted on the vehicle’smovement. The toll charges will be automatically debited from the bank accountor digital wallet linked with the FASTag.

This will facilitate the drivers not to stopfor a long time at the toll plazas to make the toll charges payments. As thecollection of toll charges would be done electronically under the NETC(National Electronic Toll Collection) program.

Where can we apply for FASTag?

The RTH ministry authorizes 22 certified banks for issuing FASTag’s. Moreover, drivers can apply at various Channels of NH toll plazas that are authorized to issue FASTag. You can visit this page for comprehensive information on FASTag and click here to apply FASTag instantly.

What are the steps that need to be followed for activatingFASTag’s?

Once you receive your FASTag, there are twoways to activate the FASTag:

1. You can visit a bank branch to activateFASTag.
2. Or, you can do self-activation of theFASTag.

Steps for Self-Activation

• Install the ‘My FASTag’ application onyour smartphone from the play store.
• After installing the App, enter all themandatory details of the vehicle.
• Now, link the FASTag to the desireddigital wallet or bank accounts.

Steps for activating FASTag by visiting a bank branch

The FASTag can belinked with the relevant bank account by the applicant. In addition to this,they have to submit RC (Registration certificate) of vehicle and KYC documentsfor activating FASTag.   

Being a FASTag owner,if you are not willing to add any of the digital wallet or bank account, youcan link it with NHAI prepaid wallet. This facility enables the user to addfunds for the payment of future toll charges.

Conclusion

FASTag is a system for all vehicles to pay toll charges and avoid congestion at the toll plazas.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.

When you are borrowing a loan, it is a hassle procedure and takes a lot of time. To provide a streamlined process, several lenders promote some smart channels to track a loan’s status. Amid several guidelines, you can track your two-wheeler loan’s status by checking the company’s website. f you don’t want to check your loan status online, you can use the customer care facility to check the status. The customer care provides you with your loan status by verifying some basic details, including your application number.

InIndia, two wheelers can be found in almost every middle-class family’s homes,and bikes are one of the most desirable modes of transport for students.

Twowheelers are quite popular with young people in the age group of 18 to 21. Theyare not only affordable but are also a substantial investment for easyaccessibility, safety, and convenience.

However,we at IndusInd Bank understand that most students have to rely on the income oftheir parents as they do not have funds to buy a two-wheeler. Keeping this inmind, we offer two wheeler loan for students for those who strive to own a bikeof their dreams.

Studentbike loanempowers you to manageyour current flow of income & expense efficiently.

Benefits of two wheeler loan for students with IndusInd Bank are as follows:

Two-wheeler loans are more in demand to buy superbikes and cruiser bikes, as per the growing aspiration of young people in our country. By paying small fees that you can afford every month, the bike loan gives you an opportunity to purchase the bike you want.

• Specialstudent bike loan to make student’s lives easier.
• MinimalDocumentation, Instant and paperless approvals will be needed for loanprocessing.
• Youcan customize loan amounts as per yourneed.
• Flexibility onloan repayment.
• Easeof payment.
• Expertassistance to make your loan experience swift and easy.

A two wheeler loan for students proves to be the most flexible choice due to the availability of easy monthly instalments. IndusInd Bank offers you student bike loanand allows you to buy two-wheeler of your choice, be it a scooty, bike, or a superbike. You can now easily apply for a quick & easy two wheeler loan for students.

Basic documents required for twowheeler loan for students

• Valididentity proof – Any one of passport / Aadhaar card / voters ID card / drivinglicense / PAN card
• Validaddress proof – Any one of Aadhaar card / passport / voters ID card / telephonebill / driving license / electricity bill / ration card/ gas connection bills /LIC policy.
• Incomeproof – ITR / pay slip / form 16 / salary credit in bank statement
• Recentpassport size photo

Purchase a bike in a safe and a secure way with IndusInd now! Apply two wheeler loan for students from IndusInd Bank.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.

If you have a dreamto buy a new bike, you will check the loan process, which can provide you bestdeals at a good price. A two-wheeler loan benefits you with several otherthings that are crucial for your life and vehicle. We search for the bank thatoffers best two-wheeler loan deals to get a new bike. Also, you have to checkthe eligibility criteria for a two-wheeler loan.

Are you the one who doesn’t want to visit the offices of these lending banks, and want a good deal? There are several online two-wheeler loans offers available for you, with other benefits. But before applying for a loan, you need to be more careful about the loan applications and consider these things before getting a two-wheeler loan.

Find out the best interest rates:

A loan with a less interestrate will be beneficial for your bike needs. You can opt for several loanoffers, but the loan with minimum interest will be the best deal for atwo-wheeler loan. If you perform genuine research before taking a two-wheelerloan, you will find that several lenders have different interest offers.

You can take your time considering a lender, who provides you with a good interest rate to fulfil the needs of your bike loan. You can find out the best bike loan online, and there you will find several two-wheeler loan offers. For a successful loan application, your income certificate, credit score, and assets may help you get a good deal for online two-wheeler loans.

Find out the eligibility criteria for a two-wheeler loan:

For a successful loanapplication, you should follow all the eligibility criteria that are crucialfor a two-wheeler loan. Your credit score and other documents like residentproof, bank statement, and proof of regular income are crucial for the loanapplication. These documents help you get a good loan amount.

If you are eligibleaccording to the needs of the loan company, they will offer you the besttwo-wheeler deal to get your dream bike. Your credit score helps you find therelevant offers for a successful loan amount, which can help you with somediscount on the loan interest.

Monthly EMI calculator

Before opting for a two-wheeler loan, check the two-wheeler loan EMI. There are several two wheeler loan EMI calculators online which allows you to check for the amount you need to pay after the approval of the loan. You can find out the monthly EMI for a limited period.

A two-wheeler loanEMI calculator helps you get the best offers for your two-wheeler loan. You getmultiple offers for the loan and find out the best deal for your loanapplication.

Borrow the required amount only

Sometimes, manypeople check that there is a fair deal, so let’s grab some more amount (thanthe required) for loan. It is not a fair deal if you choose this one for yourloan. Obviously, you may get some problems while paying the amount. Decide theloan amount based on the payment you can do monthly.

Before borrowing themoney, you have to take care of the EMI you are going to pay, and the onlineEMI calculator can help you. The money you are going to get will let you decidethe amount you are borrowing. All you need is to decide the borrowed amountwisely that does not affect your monthly EMI.

Check out other plans attached to the loan.

Loan companies offer you several other products with the loan, including the insurance for the vehicle, and other services that may help you in getting many benefits. You can save a lot of time and energy by opting for an online loan application from a reputed bank that offers you several services with the required amount. Booking a two wheeler now is now going to be an easy task. Now all you need to do is apply for two wheeler Loan at IndusInd Bank. Get started and apply now!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.

A two-wheeler vehicle loan offers you several benefits to fulfill yourdream of having a vehicle. These loans are secure, accessible, and any personcan afford a two-wheeler loan.

We, IndusInd Bank understand your needs for the bike, and provide you several loan offers that allow you to buy any bike of your choice.

There are several benefits you can get while opting for a two-wheelervehicle loan.

• Saves your expenditures

A two-wheeler loan supports the expenditures, and you can pay small EMIamount for a fixed tenure. You can prepare the monthly repayment plansaccording to your budget and don’t have to pay an extensive amount. Whilepaying moderate amounts, you can save a lot for other expenses.

You can pay pocket-friendly EMI’s when you opt for a two-wheeler loan tobuy a new bike. You don’t have to compromise for your dream bike when youchoose a two-wheeler loan.

• Attractive interest rates

Interest rates have become very competing with increase in demand offinancial institutions in two wheeler market.

However, the interest rate may vary between customer to customer based on their credit score and the relationship existing with the financial institutions. To apply for an InduInd Bank two wheeler Loan, click here.

Also, lenders very occasionally offer special discounts to attract thecustomer. Attractive interest rates give you a reason to opt for the bike youneed immediately.

• Improve your creditscore

Every lender prefers a customer with a credit score of over 750. If youare a new to credit customer, then you might not enjoy all the loan benefitsthat the customer with good credit score has got. Hence, it is important to notmiss any payment while repaying the loan.

It’s easy to improve your credit score with a two-wheeler loan as theloan amount is small and easy to repay.

Hence, two wheeler loan not only gives you the financial freedom, butalso the option to increase your credit score.

• Save tax anddepreciation

You can save a lot of amount you have to pay for the income tax. Thereare several tax benefits for self-employed people when they opt for atwo-wheeler loan for business purposes.

This helps you save a certain amount for insurance, maintenance, andother crucial things. You can deduct these things from your business’s profit,which will give you a tax-saving benefit while having a two-wheeler.

Conclusion

A two-wheeler vehicle loan comes with several benefits, wherehttps://www.indusind.bank.in/in/en/personal/loans/vehicle-loan/two-wheeler.html?utm_source=website&utm_medium=blog&utm_campaign=tw5

the user can enjoy multiple offers while having a bike. The loan process is hassle-free and allows the user to opt for the dream bike they want. The loan is safe, and anyone with complete documentation can apply for the loan to make their dream true.

Are you looking for a vehicle loan at lucrative interest rates? Turn to IndusInd Bank. Our documentation is minimal, and loan processing is quick and hassle-free. So, get in touch today!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.