Bank One has launched an online financial planning tool which enables consumers to calculate their financial needs.
Using the personal finance section on the US bank's Web site, consumers can enter financial information into Bank One's online planners and then evaluate how various alternatives could improve their financial situations. For example, they can calculate the amount needed for a home equity loan, and then compare lower payments and a long loan versus the faster payoff with larger payments.
Once a customer has determined the best route, they can print out the information and take it to a bank branch for personalised customer service, or share their plan online with a Bank One representative, says Michael Cleary, head of Bank One's consumer Internet group.
Consumers can save all the online planners - including different versions - for later review or rework. The site also allows consumers to create graphs of their financial situation for comparison with their economic peer group.