RBS to offer largest digital business loans

Royal Bank of Scotland has announced a new service able to offer digital loans of up to £750,000 for business customers.

RBS, which includes subsidiary Natwest, has launched a digital platform that will allow its business and commercial customers to apply online for the largest digitally available loans of up to £750,000.

The platform will be available to all RBS business and commercial banking customers who use online banking.

It will allow customers to complete the loan application process “in a matter of minutes”, communicating a decision within 24 hours, or sometimes immediately.

RBS said the move underlines the bank’s “commitment to further improving its digital offering” and builds on the success of its Esme Loans platform and digital business current account Mettle.

Alison Rose, chief executive of commercial and private banking at RBS, said: “We are continuously looking for innovative solutions to meet the ever-evolving needs of our business and commercial customers.

“Ourcommitmenttohelping businesses in the UK access funding is at the heart of everything we do and we want to support them. Accessing larger loans, quickly, is vital, and this new end-to-end digital lending platform allows us to offer just that.

“The scale and pace of changes in customer behaviour is like nothing we have seen before, and we’re incredibly proud of this new proposition which shows our commitment to serving our customers better.” 0 Alison Rose: new service shows bank’s commitment