When The Royal Bank of Scotland joined forces with Virgin to launch Oneaccount.com in 1998, the two companies shared the same vision of what a modern bank should be. A place where banking is simple, good service comes first and products are created with the customer in mind.
Most people's needs are pretty basic - somewhere to put your savings and pay in your income so you're better off and somewhere to borrow money without paying too much interest.
Oneaccount.com delivers both at once. It lets you use the money you have to reduce the money you owe - so you're better off when you save and you're better off when you borrow.
Dealing with your bank shouldn't feel like banging your head against a brick wall. Everyone's different - and everyone needs different things at different times. That's why Oneaccount.com will treat you like an individual - not an account number. They will try and fit in with your lifestyle instead of getting in the way of it. And will try and be as flexible as the product they offer.
All businesses are out to make money - and banks are no different. But there's two ways to do it. You can do it through hidden charges here and there. Or you can do what Oneaccount.com does - focus on delivering a great product and a great service to your customers - in the knowledge that 97% of them will never want to bank anywhere else.
Oneaccount.com puts all your money in one place - your mortgage, loans, savings and current account - helping you to:
- Cut the overall cost of your mortgage - The money in your current account automatically reduces what you owe on your mortgage, saving you interest. This can add up to thousands over the lifetime of your mortgage.
- Pay off your mortgage early - Any money left in your account automatically goes towards overpaying your mortgage. Simply paying an extra £100 a month on a £70,000 mortgage could cut 7 years off your mortgage.
- Get a better return on your savings - with no tax to pay - Pay your savings into the account and get the equivalent of 4.95% - with no tax to pay. Higher rate taxpayers would need to find 8.25% gross p.a. to match this return.
- Cut the cost of your personal loans and credit cards - You pay one mortgage-style interest rate for everything you borrow - no need for expensive loans and credit cards.
- The more you run through Oneaccount.com, the more you'll save - that's because your money works better when it's together.
There are three main ways to save money with Oneaccount.com. Oneaccount.com could save you more than £25,000
1. Repay your mortgage early and save thousandsBy putting your finances together in Oneaccount.com, you can use your income, your savings - and any money you have left over at the end of the month - to reduce your mortgage on a daily basis. This can save you thousands in interest and cut years off your mortgage.
2. Get a higher return on your savings - with no tax to payBy paying your savings into Oneaccount.com you can use them to reduce your mortgage and save interest on a daily basis. And because it's interest saved rather than earned, there's no tax to pay.
3. Borrow at one low rate and cut your interest billTypically you'll find yourself paying high rates for loans and credit cards. But with Oneaccount.com, you pay one mortgage-style interest rate on everything - now and in the future. That means you can bring all your borrowings together in Oneaccount.com - your mortgage, your personal loans, your credit card balances, even your overdraft - and make a huge saving on your monthly interest payments.
What is my 'One account facility' and how does it work?Your facility is your One account borrowing limit. This means you can draw money from your One account up to this limit at any time - without any charges and without needing to ask permission. Your facility will be agreed with you when you open the account - it can normally be anything up to 99% of your property value.
Additional information can be found on the Oneaccount.com Bank website.
(See the links above)
The One Account Bank
