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If you’ve been in KiwiSaver for at least three years and you meet the eligibility requirements, you may be able to withdraw some of your KiwiSaver savings to go towards buying your first home.
You can withdraw everything in your account except:
To be eligible to make a withdrawal:
The first step in the withdrawal process is getting an estimate of how much you’ll be able to withdraw. You’ll need this if you want to get conditional approval for a home loan. You’ll also need a letter from your KiwiSaver scheme provider confirming your eligibility to make a first home withdrawal.
If you're with Kiwi Wealth, you can get an estimate and start the ball rolling on the withdrawal process by:
If you're with Kiwi Wealth and bank with us, you can also keep track of your KiwiSaver balance in internet banking.
Once you've got an estimate and are ready to apply for a first home withdrawal, you'll need to fill out an application form. This needs to be witnessed by a Justice of the Peace or a solicitor. Find out more at kiwiwealth.co.nz.
If your KiwiSaver account is with another provider, you'll need to contact them to find out their process.
As soon as you have a conditional sale and purchase agreement for your first home or land, you can apply to withdraw funds for the deposit. (Note: at this stage, you can’t make a withdrawal for a deposit on a property selling at auction.)
You can use these funds to purchase a freehold, leasehold or stratum estate (often related to units or apartments). This could be an existing house, a vacant residential section, an apartment off the plans, or even a house and land package. It's important to know that if you already own land you are not able to withdraw your KiwiSaver funds to help build your first home.
If you’re applying to use your KiwiSaver funds at settlement, you’ll require an unconditional sale and purchase agreement.
This is what you’ll need:
Please ensure you apply and provide all required documentation at least 15 days before the withdrawal is needed. This timeframe is crucial if you’re using funds for settlement, as you can’t make a first home buyer’s withdrawal after the property purchase has settled. As soon as you have a conditional sale and purchase agreement for your first home or land, you can apply to withdraw funds for the deposit. (Note: at this stage, you can’t make a withdrawal for a deposit on a property selling at auction.)
Kiwi Wealth recommends getting your application in at least 15 business days before the date you'll need the money for a deposit or settlement, as the process can take a while.
If you’re slow off the mark and your application isn’t processed before your settlement date you'll either have to push out your settlement, or miss out, as you can’t make a first home buyer’s withdrawal after a property purchase has gone through.
If you’ve been making regular KiwiSaver contributions for at least three years, you may also be eligible for a First Home Grant – previously known as the KiwiSaver HomeStart grant. This is paid by the government and administered by Kāinga Ora.
To be eligible for a First Home Grant you have to:
Eligibility for the grant is determined by Kāinga Ora.
There are house price caps in place, depending on where you live and whether you’re buying an existing property or building a new home
Before applying for a home loan, you may want to talk to our home loan experts. Even if you're just starting to save, they can talk through your options.
Standard terms and conditions
Displayed interest rates are subject to change. Kiwibank’s lending criteria, terms and conditions, and fees apply.
The calculators should be treated as a guide only. They don't take into account all of your individual circumstances and aren't financial advice.
Download the Product Disclosure Statement for the Kiwi Wealth KiwiSaver Scheme or pick up a copy from your nearest Kiwibank.
Kiwi Wealth Limited is the Issuer and Manager of the Kiwi Wealth KiwiSaver Scheme (the Scheme) and is a related company of Kiwibank Limited. Kiwibank is a distributor but is not an issuer of the Scheme. Investments made in the Scheme do not represent bank deposits or other liabilities of Kiwibank and neither they nor any other person guarantees the repayment of members’ interests in the Scheme or the payment of any earnings or returns on investment in the Scheme. Investments in the Scheme are subject to investment and other risks, including possible delays in payment of withdrawal amounts in some circumstances and loss of investment value.