AbstractHigher‐order residual ionospheric errors in Global Navigation Satellite System (GNSS) radio occultation (RO) data can induce a systematic residual ionospheric bias (RIB) in RO bending angles, which can impact stratospheric climate monitoring. The main RIB causes are the ray path splitting of dual‐frequency GNSS signals, the electron density distribution along the ray path and at the RO receiver location, and the geomagnetic field. In this study, we investigate the ionospheric and geomagnetic effects on RO‐retrieved stratospheric bending angle and temperature profiles by inspecting the kappa and bi‐local RIB correction methods, the current state‐of‐the‐art methods, using multiple RO satellite mission data in different ionospheric and geomagnetic conditions. We find that, globally, the layer mean/median RIBs of the kappa and bi‐local correction methods exhibit similar behaviors for different RO missions: the estimated bending angle RIBs reach about −0.025/−0.01 and −0.024/−0.008 μrad in the upper (40–45 km) and lower (30–35 km) stratosphere, respectively, while the temperature RIBs reach about −1.0/−0.3 and −0.2/−0.1 K in these layers. However, in the equatorial day time region, the RIB statistics of the mission results diverge. Both the kappa and bi‐local RIBs increase in magnitude with increasing ionization and geomagnetic field strength but show no increase with an increasing degree of ionospheric asymmetry. Overall, the more refined bi‐local method has higher capacity than the comparatively simple kappa method to represent the variability of the ionospheric and geomagnetic conditions that affect RO events. This is important for regional‐scale studies, where the geomagnetic term can be of key relevance.