KiwiSaver first home withdrawal

If you’ve been in KiwiSaver for at least three years and you meet the eligibility requirements, you may be able to put some of your KiwiSaver savings towards purchasing your first home.

  • You can withdraw everything except $1,000 and any funds transferred from an Australian complying superannuation fund.
  • You may be able to use the KiwiSaver first home withdrawal to pay the initial deposit in some circumstances. Talk to your lawyer for more information.
  • Please note that it can take a while for your application to be processed, so we recommend starting well in advance.

KiwiSaver HomeStart grant

If you’ve been contributing to KiwiSaver for at least three years and you meet the eligibility requirements, you could be eligible for a KiwiSaver HomeStart grant.

If you are buying an existing home, you could be eligible for $1,000 for each year you’ve been contributing – up to a maximum of $5,000. This means that if you’re buying a house with a partner and you both qualify, you could get up to $10,000.

If you are buying a newly built home or a proposed home off plans, you could be eligible for $2,000 for each year you’ve been contributing – up to a maximum of $10,000. This means that if you’re buying a house with a partner and you both qualify, you could get up to $20,000.

For more information and an outline of full eligibility criteria check the Housing New Zealand website.

  • You may be eligible if your income is less than $85,000 (before tax) a year — or less than $130,000 (before tax) a year if you’re buying a house with someone else.
  • You must live in the house for at least six months.

Apply through Housing New Zealand

What next?

If you haven’t got 20% deposit, there are still ways you may be able to get into your home. Try our handy tool to find out more.

Download the Product Disclosure Statement for the Kiwi Wealth KiwiSaver Scheme (PDF 340.9 KB) or pick up a copy from your local Kiwibank.

This information is of a general nature only and is not financial advice. If you want advice regarding your particular circumstances, you should talk to a financial adviser.

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.