i know both mean i owe bank money

but actually what is the different between both ??

Outstanding balance = statement balance + any amount used after the statement is generated

Statement balance is ur spending up to statement date. Outstanding balance is your total spending till today.

incorrect. outstanding balance is whatever balance you still owe to the bank. It can include spending in the statement balance, either fully or partially.

if you want to avoid interest, you have to pay off whatever spending up to the statement date. You cannot just rely on outstanding balance to gauge this, because sometimes if you see outstanding balance is less than statement balance, people assume they have paid off the statement balance, which is wrong

smart people would pay statement balance only. Less smart one pay outstanding. The least smart one pay partial of statement balance.

Which part is incorrect? You are just stating it in another way

im still confusing , which one is actually i need to pay ? or its it combined together ?

AFAIK outstanding balance is the ACTUAL balance i owned from bank

is statement balance just a reference or some sort ??

This post has been edited by Ickythump: Oct 30 2021, 12:19 PM

Statement balance is related to the billing period. Spend some time to read here:
https://forum.lowyat.net/index.php?showtopi...post&p=84781095

This post has been edited by Human Nature: Oct 30 2021, 12:21 PM

Statement Balance=Last Month Statement which must pay before due date or kena penalty, interest and later waran tangkap.

Outstanding=Statement Balance+Whatever you have use until now.

just pay statement balance will do

outstanding balance can be less than statement balance due to cashbacks

assuming your statement due is by 21st October


statement balance - 21 september - 21 October spending/billing

outstanding balance - Statement balance + ur spending after 21 October till current day

Jan Statement Balance = 1k

---

Feb Statement Balance = 2k
Paid off 500

Total outstanding balance is 2.5k, and Statement Balance for Feb is 2k

---

March Statement Balance 5k
Paid off 3k

Total Outstanding Balance = 2.5k + 5k - 3k = 4.5k

---

and so on

This post has been edited by viktorherald: Oct 30 2021, 12:27 PM

Well same la, then the second part become negative. The equation still valid

some users can be confused, because people advice them to just pay the statement balance. Then they would have overpaid

usually i just click the "Pay Outstanding Amount" in the internet banking je

Simple scenario:

Statement balance: RM500

Cashback (before interest due date): RM100

Spending after statement date: RM500

What is shown in the outstanding balance: RM900

What you should pay to avoid interest: RM400 (not statement balance, not outstanding balance)

And this is how rich people stay rich - paying on statement date.

This doesn't work for CIMB, they dont consider cashback as payment offset for the statement balance. Not sure if the bank has revised this nowadays.

This post has been edited by Human Nature: Oct 30 2021, 12:38 PM

Stmt balance = how much you need to pay according to the statement

Outstanding = total you owe