A new reinforcing steel model which is embedded inside a concrete element and also accounts for the effect of bond-slip is developed. Unlike the classical bond-link or bond-zone element using double nodes, the proposed model is considering the bond-slip effect without taking double nodes by incorporation of the equivalent steel stiffness. After calculation of nodal displacements, the deformation of steel at each node can be found through the back-substitution technique from the first to the final steel element using a governing equation constructed based on the equilibrium at each node of steel and the compatibility condition between steel and concrete. This model results in significant savings in the number of nodes needed to account for the effect of bond-slip, in particular, when the model is used for three dimensional finite element problems. Moreover a new nonlinear solution scheme is developed in connection with this model. Finally, correlation studies between analytical and experimental results and several parameter studies are conducted with the objective to establish the validity of the proposed model.