Axis Bank has made the tags free for vehicle-owners for the first few months, in a sign of competition on bagging the Fastag-related business hotting up among lenders. A lender gets 1.5 percent of a transaction/toll amount as a fee if it has set up the chip-reader at the toll plaza and around 1 percent if the vehicle is on-boarded by it.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
