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The One account puts
all your money in one place - from your mortgages and loans to your savings
and current account - saving you thousands of pounds in interest charges
and giving you the flexibility to live your life differently. Whether
you're buying a new home, looking to remortgage or simply want more from
your bank, the One account is the smarter way to manage your money. It's
been proven that eight out of ten homeowners would be better off with
the One account.* Here's how…
Repay your
mortgage years earlier
When you take out a mortgage, it’s not the rate you pay that’s important.
What matters is the total amount of interest you pay over the time you’re
borrowing. With the One account you use your income and
savings to reduce your borrowings and minimise your interest payments.
This could mean you repay your mortgage years earlier, saving thousands
of pounds in interest costs.
Pay one low rate on all your borrowings
Because the One
account is secured against your home, you pay a single mortgage-style
interest rate on all your borrowings - whatever you use the money
for. So you can transfer across any outstanding loan or credit card balances
and instantly slash your monthly interest bill.
Get a higher
rate on your savings
Any money you have in the One account works to reduce your
borrowings, saving you interest. This gives you a return equivalent to
the interest rate you pay on your borrowings - that's more than you earn
in any conventional deposit account. And because you’re using your money
to save interest rather than earn it, there’s no tax to pay. And the great
thing is, the One account is a current account as well -
so you’ve got instant access to your money at all times.
Make more of
your income
Most people don't realise they're losing thousands by running their mortgage
and current account separately. The smarter way to manage your money is
to combine the two. That way, all the money that would normally sit idle
in your current account works to reduce your borrowings. And the fact
that we calculate interest on your balance daily means you'll save interest
even if you only reduce your balance for a few days. This can save you
thousands in the long run.
Make more of
your equity
Whether you're looking to fund some home improvements, buy a new
car or you simply need some cash to see you through Christmas or pay for
that summer holiday, the One account could be the most cost-efficient
way to borrow the money. The One account lets you get your
hands on the equity tied up in your home at the same rate as your mortgage
– up to the level of your facility, which could be up to 95% of the property
value. So no more need for expensive personal loans or finance agreements.
Take complete
control of your finances
The right way to manage your money is to put it all in one place.
This gives you one balance that reflects your overall financial picture.
But that might not always be how you want to look at your money. That's
why not only can you look at your One account as
a whole - you can break down your One account balance
in any way you like. That way you can see your savings, borrowings and
other money as individual balances - just like you would with a normal
mortgage, current account and savings account.
You will be given all the tools and information you need to manage your
money - day or night, over the phone or online. You get all the usual
chequebooks, Switch and Visa cards, 24 hour telephone banking - plus free
use of all The Royal Bank of Scotland branches.
So you get the best
of both worlds. You've got everything in one place - giving you total
flexibility and saving you money. And you're still able to see your finances
in a way you're used to.
To find out more
and to apply online Click
here or click on banner below
* this is based on data supplied by NOP Financial, on
homeowners with mortgage & borrowings of more than £50,000.
Calculations validated by David Goldreich of the London Business School.
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