Apply for a Notice Saver immediate withdrawal

Withdraw money early

When you request an immediate withdrawal of part or all of your money from Notice Saver without giving the required notice, you'll be charged an immediate withdrawal charge. The amount of the charge varies depending on the amount being withdrawn, the current rate of return for your Notice Saver and the length of the required notice period.

Apply for an immediate withdrawal

To apply for an immediate withdrawal, send us a secure message with:

• Details of the Notice Saver you'd like to make the immediate withdrawal from.
• Withdrawal details such as the withdrawal date and amount.

You can also call us or visit your nearest Kiwibank.

We may refuse your request at our sole discretion and if we approve your request, an immediate withdrawal charge will apply.

Calculate the immediate withdrawal charge

If your application is approved the Immediate Withdrawal Charge applies (which is a reduction against the return earned).

This is based on the following calculations:

Immediate withdrawal charge = funds to be withdrawn x (Notice Saver rate of return ÷ 365) x Notice Period days (32 or 90).

Example 1: You’ve invested $50,000 in a Notice Saver with a 32-day notice period at 2.25% p.a. If you have had the money in the account for 50 days, your Immediate Withdrawal Charge would be: return earned on $50,000 over the last 32 days x 2.25% p.a. = $98.63 (before tax).

Example 2: You’ve invested $50,000 in a Notice Saver with a 32-day notice period at 2.25% per annum, but your money has only been in the account for seven days. Your Immediate Withdrawal Charge would be: return earned on $50,000 over the last 7 days @ 2.25% p.a. = $21.58 (before tax).

The charges are capped, so your initial contributions won’t be reduced.