How it works

  • You can access your overdraft through your Free Up, Now, Front Runner or Bill Blaster account.
  • 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. There's no minimum monthly payment, but you can minimise the amount of interest you pay on your overdraft by repaying it as quickly as you can.

Students and recent graduates

If you're a tertiary student, recent graduate or doing an apprenticeship, you can apply for our low rate overdraft of:

  • Up to $1,000 in your first year and up to $2,000 in your second and subsequent years with our Tertiary Pack; or
  • Up to $2,000 with our Graduate Pack.

If you'd like to discuss other borrowing options or have any questions, please call one of our team on 0800 113 355.

Rates and fees


Interest rate/fee

Preferential overdraft

Authorised overdraft

Unauthorised overdraft

Tertiary and Graduate overdraft

Contact centre and/or automated phone banking high use fee (applies across all your banking)

First five calls per month free, then:

  • $5 per call to a customer service representative; or
  • $0.50 per call to the automated phone banking system.


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.

You can make a joint application to increase the income amount we use to assess affordability.

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.

Apply for an overdraft now

Kiwibank’s Personal Overdraft Terms and Conditions (PDF 111.1 KB) apply to all Kiwibank Overdrafts.