As is well known, corrosion of steel reinforcement deteriorates the steel–concrete interface and causes concrete cracking, degrading significantly the bond strength. Several experimental studies have investigated the magnitude of residual bond strength due to corrosion, which affects either the function of corrosion-damaged steel bars or the surface crack width in concrete. As a result, linear and exponential correlation relationships have been proposed in order to predict the bond loss due to corrosion. Based on the results of an ongoing experimental campaign on the degradation of bond strength of RC specimens, combined with comparable outcomes from existing literature, this manuscript summarizes a database, comparing with the recommendations of Model Code 2010, to analyze and interpret the corrosion effect on the bond loss and highlights some points that need improvement in the current regulations. As indicated, the density of transverse reinforcement (stirrups spacing) has intense impact on the resulting bond loss due to corrosion. Hence, in order to quantify this aspect, the present manuscript introduces a discretization of confinement levels of RC elements, depending on the stirrups spacing. Based on this, regression analyses of data were conducted to extract fitting curves of bond loss, taking into account the amount of transverse reinforcement and predictive zones of residual bond strength in relationship to either corrosion penetration or surface crack width. Furthermore, the outcomes demonstrate that the corrosion penetration depth is an appropriate assessment tool to correlate the residual bond strength with the corrosion level, whereas the surface crack width on concrete is not yet an effective index, since there is a plethora of factors affecting the crack width. Due to this, more research is needed to improve the current level of knowledge on the surface crack width and link it with the corrosion damage of the steel bar and the residual bond strength due to corrosion.