Corrosion of reinforcement causes cracking and spalling of concrete cover which affects the bond; this is a crucial factor in deterioration of concrete structures. Earlier, tests have been carried out on specimens with naturally corroded reinforcements; in this study, the focus is given to the modelling of these specimens. The aim was to evaluate the scope of simpler and more complex bond models to assess the structural behaviour. A comparison of two approaches to model the anchorage behaviour was done: (a) a one-dimensional analysis, where the bond-slip differential equation with a non-linear bond-slip constitutive model is numerically solved, and the mean bond strength as well as the required anchorage length to anchor the yield force are computed. (b) Finite element (FE) analyses were performed using 3D solid elements for concrete, and beam elements for reinforcement, where the interaction was explicitly described using the same bond-slip constitutive model as in approach (a). The results show differences between the two approaches. Each of the modelling alternatives had both drawbacks and advantages; while the more complicated model accounting for more variables led to more realistic results in comparison with observations, the simpler 1D analysis was very fast and efficient