Set up a Notice Saver account now and after six months of regular saving you'll be eligible for Kiwibank’s First Home Saver1. Notice Saver is a flexible savings account with a good rate of return, but instead of instant access to your money, you have to give either 32 or 90 days' notice to make a withdrawal.
To be eligible for First Home Saver, you must have had a Notice Saver account with a minimum balance of $2,000 for six months. You also need to have saved a minimum of $20 per month for six consecutive months and draw down a Kiwibank Home Loan.
Keep adding money to your savings whenever you like. No instant access means it's harder to dip into your savings.
To withdraw some or all of your money you just need to give us 32 or 90 days notice depending on what option you chose when setting it up.
No account management or transaction fees.
Since it's a PIE account, the maximum tax rate you'll pay on the return you earn from it is 28%. Usually you’d pay your regular income tax on interest earned on savings accounts, which could be up to 33%.
Terms and conditions
1Maximum of one First Home Saver per property. To receive the First Home Saver benefits, you must not have owned property in New Zealand previously.
2If your home loan doesn't remain with Kiwibank for a minimum of three years, we may require repayment of your cash contribution. We’ll do this by including the amount of the cash contribution as an amount owing under your home loan.
First Home Saver will be reviewed on a regular basis and benefits you may be eligible for can change at any time. This can't be used in conjunction with any other offer. This is valid from 18 March 2019 - 18 March 2022.
Kiwibank’s lending criteria, terms and conditions, and fees apply. Interest rates and rates of return are subject to change.
Kiwibank Notice Saver is a fund within a Portfolio Investment Entity (PIE). Units in Kiwibank Notice Saver are issued by Kiwibank Investment Management Limited and are distributed by Kiwibank Limited. Download the Terms and Conditions for Kiwibank Notice Saver (PDF 196.4 KB) or pick up a copy from your nearest Kiwibank.