Kiwibank overdrafts are designed to help you manage gaps between outgoing costs and when your income comes in or for use as a backstop facility to cover unexpected expenses or purchases.

Key features and benefits

  • No monthly account or application fees.

  • Your overdraft will have an agreed overdraft limit which you can borrow up to as you need.

  • You'll only pay interest on the money you use and there's no minimum monthly payment.

Interest rates and fees

Account management fee


Application fee


Preferential overdraft rate

If you have a Kiwibank home loan

Authorised overdraft rate

A standard overdraft within your approved limit

Unauthorised overdraft rate

If you don't have an approved overdraft limit and your account is overdrawn

Tertiary and Graduate overdraft rate

If you have a Tertiary Pack or Graduate Pack

How it works


To be eligible for an overdraft, you must meet the following criteria:

  • Be 18 years of age or over
  • Be a permanent New Zealand resident
  • Have an acceptable credit history – we’ll do a credit check as part of the application process.

Kiwibank needs to be comfortable that your financial situation can support an overdraft. As part of the application, you may need to provide proof of income and some details about your monthly expenses, assets and liabilities. Having this information handy can help speed the application process up.

If you’re not certain whether you meet all of the above criteria including having a good credit history, give us a call on 0800 113 355 to discuss your situation.

If you have an overdraft and you're struggling to keep your head above water, get in touch to see if you qualify for financial hardship assistance.

To apply, give us a call on 0800 113 355 or visit your nearest Kiwibank.