Glossary · Finance & banking
Promise to pay (PTP) meaning
A promise to pay (PTP) is a borrower's commitment to pay a set amount on a set date. See what a PTP record holds, how PTP rates work and where teams go wrong.
What is a PTP in loan collections?
When a borrower who has missed an EMI says "I will pay on the 12th", that is a promise to pay. In Indian collections, PTPs are taken on telecalls, during field visits and increasingly on WhatsApp, where a borrower can pick a date and receive a payment link in the same chat. WhatsApp EMI reminder and NBFC collection software records each promise as data, reminds the borrower before the date, matches payments against it and puts broken promises back into the next day's worklist. A promise that lives only in an agent's free-text note usually goes unchecked.
What should a PTP record contain?
- Loan account and borrower
- Promised amount, and whether it covers all arrears or only part
- Promised date
- Channel and the person or voice agent who took it
- Reason for the delay, if the borrower gave one
- Status after the date: kept, part-kept or broken
How are PTP rate and PTP kept rate calculated?
Illustrative numbers only. In one week, an agent team reaches 200 borrowers in the 1 to 30 DPD bucket.
| Measure | Count | Rate |
|---|---|---|
| Promises taken | 80 of 200 contacted | PTP rate 40% |
| Paid in full by the promised date | 52 of 80 due | Kept rate 65% |
| Part paid | 10 of 80 | Part-kept 12.5% |
| Nothing paid | 18 of 80 | Broken 22.5% |
A team that pushes for promises at any cost will see the PTP rate rise and the kept rate fall. The kept rate, and the amount actually collected, are the numbers that show whether promises are real.
What are the common mistakes with promises to pay?
- Counting promised amounts as collections. A PTP is a forecast. Only matched payments count towards collection efficiency.
- PTP vs restructuring or settlement. A PTP keeps the original loan terms. Changing the EMI, tenure or amount owed is a separate decision under the lender's policy, taken by authorised staff.
- Vague or distant dates. "Next week" or a date beyond the next EMI is hard to track and often breaks. Ask for a specific date and amount.
- Taking promises from borrowers in hardship. A borrower who has lost income or disputes the dues needs a trained person, not a pressed promise. See why hardship calls need a person.
- Not acting on a broken promise. Re-contact quickly, often on a different channel, and change treatment for repeat breakers. The broken promise to pay playbook sets out the steps.
All contact to take or follow up a PTP should stay within your contact-hour policy and RBI's conduct rules for recovery, which your compliance team should confirm.
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Where this shows up in our work. AutoCollect: Accounts ranked by propensity to pay; WhatsApp links, voice agents and field visits inside contact-hour rules. Book a 30-minute working session with an engineer.
Questions
What does PTP mean in collections?
PTP means promise to pay. It is a borrower's commitment to pay a specific amount on a specific date towards an overdue loan, recorded by the lender so it can send reminders and check whether the payment arrives.
What is a broken PTP?
A broken PTP is a promise where no payment, or less than the promised amount, arrives by the promised date. Lenders usually re-contact the borrower quickly and change the treatment if promises keep breaking.
What is a good PTP kept rate?
There is no single benchmark, because it depends on the product, bucket and how strictly promises are taken. Track your own kept rate by bucket and channel over time, and compare changes against a control group.