MoneyGeek’s Take

SeedFi Personal Loan Review

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Reviewed byMorgan Hull
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Reviewed byMorgan Hull
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Updated: December 28, 2023

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SeedFi offers a non-traditional credit builder loan product with a built-in savings account called Borrow and Grow. Since it reports to credit bureaus regularly, you can improve your score in no time, as long as you make timely payments.

At a Glance: SeedFi Personal Loans

  • SeedFi

    • 6.95% to 29.99%APR Range
    • NoneMinimum Credit Score
    • $1,200 to $7,000Loan Amount Range
    • 7 to 27 monthsRepayment Terms
    • Next DayTime to Receive Funds

    SeedFi is a fintech company that specializes in offering non-traditional financial products that help borrowers build credit and save money through low-interest personal loans.

    Its main personal loan product, Borrow and Grow, is a personal loan product where borrowers can access only a portion of their loan. As they make timely payments, they can simultaneously improve their credit, and build savings.


    • Low-interest rates
    • SeedFi savings account requirement allows you to build savings
    • Late payment fees are reimbursed
    • Soft-credit check during prequalification
    • Loan funds available within 1–2 business days


    • Total funds not immediately available
    • SeedFi Savings Account required
    • No joint account or co-borrower options
    • No option to choose payment date
    • APR range: 6.95%–29.99%
    • Minimum/maximum loan amount: $1,200–$7,000
    • Minimum credit requirements: Not disclosed but borrower accepts applicants with poor to bad credit
    • Repayment terms: 7 to 27 months
    • Time to receive funds: 1–2 business days

MoneyGeek Breakdown - SeedFi Personal Loan Details and Requirements



Credit Score Requirements

Low or poor credit score can qualify

Income Requirements

Not indicated

Loan Amounts

Total loan amount is $1,200 to $7,000 with $300 to $4,000 immediately available and the rest of the loan locked in a SeedFi savings account until the initial loan amount is repaid.

Loan Terms

7 to 27 months

Is SeedFi Right for You?
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SeedFi is one of several companies that offer personal loans. To help you find the perfect lender for you, MoneyGeek outlined who would benefit most from getting a personal loan with SeedFi.

Who SeedFi Is Perfect For

SeedFi’s Borrow and Grow personal loan product offers cash solutions for borrowers with unexpected expenses that may not have a savings account. If you have trouble saving money, or have a low or bad credit score, SeedFi is an ideal lender for you, as it accepts applicants with poor credit.

The Lender also helps you save money by only providing a portion of the total loan amount upfront and holding the rest in a savings account until the initial amount is repaid. If you’ve been previously rejected for a no-savings loan, SeedFi offers loans at affordable interest rates. For those who want to build their credit, SeedFi reports to the credit bureaus twice a month, but to benefit from this feature, you must make your loan payments on time.

Who Should Not Choose SeedFi

Those who need a larger loan amount may want to look elsewhere since SeedFi loans only offer up to a maximum of $4,000 for first-time borrowers. Because this lender reports to three credit bureaus on a monthly basis, you want to make sure that you are able to make on-time payments. Otherwise, it could further hurt your credit score.

Lastly, SeedFi is known to require a lot of documentation for their loan application. If you prefer a no-fuss personal loan application, there are other personal loan lenders that have fewer application requirements.

How to Apply for a SeedFi Personal Loan

MoneyGeek’s review of SeedFi’s personal loan helps borrowers decide whether this is a good product to consider for their financial needs. Know the right steps to apply for a SeedFi Borrow and Grow personal loan.


SeedFi asks for personal information on their website when you pre-qualify. This may include proof of income, proof of address, and other documents like a bank statement, photo identification, etc. Additional documentation may be required based on your borrower profile. A soft credit check is also performed to assess your financial situation, but this will not affect your credit score.

Fill Out Application Form

Once you fill out your application form and choose a loan amount, SeedFi will proceed with a hard credit inquiry.

Wait for Approval

It may take 1 to 2 days to get a final decision and finalize the terms of your loan.

Review Loan Agreement

In most cases, the terms of your loan will be different from those you initially agreed on. At this stage, you may want to review your loan agreement and ask about anything that is unclear to you.

Sign Loan Agreement

Keep in mind that once you sign a loan, it prompts SeedFi to initiate a hard credit pull on your account. That means, your credit score will be impacted.

Receive or Direct Funds

Once you sign the loan, a SeedFi representative will call you to confirm the terms of your loan. After the terms of the loan are confirmed, the upfront portion of your loan will be deposited into your personal bank account in 1 to 2 business days, and the other portion to your SeedFi Savings Account.

Make Payments

Payments are due twice a month on the days included in the loan agreement. The lender also has an auto-pay option, so you don’t have to make manual payments every month. Aside from auto-pay, SeedFi offers different ways to make loan payments.

What to Do if You Are Rejected From SeedFi

Every personal loan lender will take a look at a borrower’s financial situation to determine the risk of approving your personal loan application. Lenders may reject applicants with bad credit scores or low incomes, as they’re seen as riskier to insure. If your loan application is denied, you should find out why to improve your chances of getting approved in the future.

Ask the lender for specific details about why your personal loan application was rejected and try to improve these factors. Generally, apart from meeting the lender-specific requirements, you should be able to improve your credit score and have a verifiable income and an established credit history to have a higher chance of approval.

Don’t apply to any personal loan lender without improving these factors first, especially with lenders like SeedFi, whose hard credit inquiries may hurt your score. If you want to re-apply to SeedFi, they require a 90-day waiting period before you can submit another application. Any applications submitted before this period are automatically rejected.

Frequently Asked Questions About Personal Loans

In this personal loan review, MoneyGeek answered some of the most frequently asked questions about personal loans from SeedFi.

What can I use a SeedFi personal loan for?
What credit score do I need for a SeedFi personal loan?
How long does SeedFi take to approve a personal loan?
Does SeedFi have a mobile app?
Is a SeedFi personal loan secured or unsecured?
What is the maximum amount I can borrow from SeedFi?
What are the origination fees for a SeedFi personal loan?
Will applying for a SeedFi personal loan affect my credit score?
What is the autopay discount for SeedFi personal loans?
Does SeedFi accept co-signers on personal loans?
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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.