Royal Bank of Scotland (RBS) has introduced a new online investment service to help customers achieve their financial goals by investing minimum amounts.

Known as Royal Bank Invest, the new service allows customers to invest amounts as little as £50.

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Customers can also link their investment with their desired financial goal and track their performance, the bank said.

The Royal Bank Invest allows lump-sum investments, a monthly contribution or an ISA transfer.

Additionally, the service will offer automated advice guiding the customers who are making investments for the first time.

The automated advice service is designed to provide customised recommendations based on individual customer goals, financial situation and risk attitude.

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It will guide customer on how much they should and refer appropriate funds for them. The automated advice service will also guide the customers on how to use their ISA allowance.

Furthermore, the service recommends alternatives if the intended investment isn’t right for a customer.

RBC managing director of personal & premier distribution Marcelino Castrillo said: “At Royal Bank, we focus on meeting the ever changing needs of our customers.

“By offering a low minimum investment sum and a simple online service, we hope that Royal Bank Invest will encourage more of our customers to get investing to help them achieve their financial goals.”

Through Royal Bank Invest, the customers can invest in funds that are available as an ISA.

The service has no minimum term. But it is aimed at customers looking to “leave the money untouched for at least five years.”