understanding my statement

What does it all mean?

Straight facility
The sum total of all your transactions plus the monthly budget instalments, monthly interest charges and daily/monthly /annual fees.

Straight limit
The maximum permitted amount you may spend on your straight account.

Budget facility
The total sum of all your budget transactions and interest charges outstanding as at the statement date.

Budget limit
The maximum permitted amount that you can spend on your budget facility.

Opening balance
The sum total of all activities on the straight account from the previous statement date (excluding payments received during the cycle).

Closing balance
The opening balance plus daily transactions, budget instalments interest charges/adjustments and fees, less payments credited to the account.

Available balance
The calculation of the credit limit less the closing balance as at the statement date.


How much do I need to pay?

You need to pay all of what you've spent, eventually. To help you we offer the following payment options:

Minimum Amount Payment
You pay the minimum monthly payment amount due on your account (as indicated on your statement). This amount is calculated at 5% of your total outstanding balance.

Full Amount Payment
You settle your full statement balance. Any payments processed during the billing period is deducted and you only pay the outstanding balance.

Specified Amount Payment
You pay a specified monthly amount of your choice. The specified amount cannot be less than the minimum monthly payment due on your account.